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Saturday Business Brief

December 14, 2013, 4:38 PM by Chris Dexter

Saturday Business Brief

UNDATED (AP) - Investors are trying to figure out where things are headed next. Stocks were mixed yesterday and posted their second weekly loss in a row. Indexes reached record highs as recently as Monday, but then declined. The Dow rose 16 points to close at 15,755 on Friday. The S&P 500 fell less than a point to 1,775. The Nasdaq rose 2 ½ points to 4,000.

  • The possibility of new supplies from Libya and expectations the Federal Reserve will cut its stimulus program are driving down the price of oil. Benchmark crude for January delivery dropped 90 cents to $96.60 a barrel yesterday in New York. For the week, oil fell $1.05 a barrel. Meanwhile, AAA says the average price for a gallon of gas stayed at $3.25 yesterday.
  • A federal appeals court is clearing the way for companies in New Mexico, Missouri and Iowa to resume domestic horse slaughter while an appeal is pending. The court has removed an emergency injunction that blocked the plants from opening. Animal protection groups filed the appeal after a federal judge rejected their lawsuit alleging the Department of Agriculture failed to conduct proper environmental studies when it issued permits for the slaughterhouses.
     
  • Cantor Fitzgerald says it has nearly completed a deal with American Airlines and insurance carriers to settle a lawsuit it brought after the Sept. 11 attacks killed 658 of its 1,000 employees at the World Trade Center. The attorney for the financial services firm told a federal judge at a Manhattan a final signed agreement may be ready by Tuesday.
     
  • Government regulators in Canada are poised to open a formal investigation into whether Google is abusing its dominance of the Internet search market to stifle competition and drive up digital advertising prices. Canada's Competition Bureau indicates it suspects that Google has been breaking the country's antitrust laws. There's also an ongoing antitrust probe into Google's business practices in Europe.

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