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Monday Evening Business Brief

January 6, 2014, 6:23 PM

Monday Evening Business Brief
  • Stocks closed lower today, prolonging a slow start to the new year on Wall Street. The Dow Jones industrial average fell 44 points, the Standard & Poor's 500 index was off four and the Nasdaq composite lost 18 points. The S&P 500 has fallen three times in a row for its weakest start to a year since 2005. But the market remains near a record high.
  • Toyota has announced that a hydrogen-powered vehicle which emits only water vapor as exhaust will go on sale in the U.S. in 2015, a year earlier than it promised just two months ago. The Japanese automaker made the disclosure today at the International CES, the technology industry's annual gadget show. The shift came months after rival automakers Hyundai and Honda both said they'd start selling cars with that technology in the U.S. in 2015.
  • The price of oil has slipped again following a weeklong plunge. Benchmark U.S. oil for February delivery fell 53 cents to close at $93.43 today in New York. On Friday, the contract fell $1.48, a decline that pushed the price 6.4 percent lower for the week.
  • The Royal Bank of Scotland has received a $50 million fine in Connecticut, part of more than $600 million in penalties announced last year for manipulating interest rates. The bank's subsidiary, RBS Securities Japan Limited, was sentenced today in federal court in Hartford to the $50 million fine.
  • Disney's "Frozen" stayed warm despite frigid weekend temperatures across much of the country, regaining the top spot at the box office with $19.6 million in its seventh week of release. Several of the weekend's top films saw slight dips from winter conditions in the Northeast and Midwest in final box office numbers released today.

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