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Thursday Morning Business Brief

April 5, 2012, 6:19 AM

Thursday Morning Business Brief

Wall Street's key averages saw their worst setback in a month on Wednesday. The Dow dropped 125 points, or 1 percent, to 13,075. The S&P was down 14 points to 1,399. The Nasdaq shed 45 points to 3,068.

  • Asian stock markets fell today and European markets have failed to hold on to their early gains as investors continue to worry about Spain's debt problems. Benchmark oil rose above $102 per barrel in Asia, while the dollar fell against the euro and the yen.
  • The Labor Department today releases new claims for unemployment benefits, a weekly number. Today's reading comes a day ahead of the monthly jobs data. 
  • USA Today is requiring most of its staff to take an unpaid week off to save money, as the nation's second-largest newspaper struggles to sell more advertising. The furloughs are the latest in a series of cost-cutting measures by USA Today since 2008. 
  • DirecTV and Tribune Broadcasting say they have struck a deal ending an impasse that since Sunday blacked out some channels carried by the satellite television provider in major U.S markets. The deal will allow DirecTV to carry all of Tribune Broadcasting's local stations and WGN America for the next five years. Terms have not been disclosed.

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