Thursday Evening Business Brief
March 6, 2014, 5:28 PM
- The S&P 500 index has again closed at an all-time high following encouraging news about the U.S. job market. The S&P 500 rose three points, or 0.2 percent, to close at 1,877 today. The Dow Jones industrial average climbed 62 points, or 0.4 percent, to 16,421. But the Nasdaq composite lost six points, or 0.1 percent, to 4,352.
- The price of oil is up slightly. Benchmark crude oil for April delivery rose 11 cents today to $101.56 a barrel on the New York Mercantile Exchange. At the gas pump, the average price drivers are paying for a gallon of regular rose 1 cent to $3.47. That's 20 cents higher than a month ago, but still 26 cents cheaper than at this time last year.
- Publication has been canceled for a planned book based on a popular and anonymous Twitter feed about Goldman Sachs and the financial industry. Touchstone, an imprint of Simon & Schuster, says it will not release John Lefevre's "Straight to Hell," which was set to come out in October. The publisher cited recent "information" it had received for the decision.
- A federal judge in California is denying Apple's request to permanently ban Samsung from selling 23 older-model smartphones and tablets that a jury found infringed on patents held by the maker of iPhones and iPads. The judge says Apple failed to prove that the South Korean company's patent infringement caused irreparable harm to Apple sales.
- Boeing says it's freezing the traditional defined-benefit pensions for 68,000 non-union employees starting in 2016. The workers will transition to a company-funded defined contribution retirement plan, starting Jan. 1, 2016. The non-union employees will have a 401k-style retirement plan similar to what union machinists approved in a contentious contract-extension vote earlier this year.
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