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Tuesday Evening Business Brief

December 27, 2011, 5:21 PM

Tuesday Evening Business Brief
Stocks fell slightly in light trading amid mixed economic news. The Dow industrials lost 2.65 points, or 0.02 percent, to close at 12,291. The S&P 500 was up a fraction, or 0.01 percent, at 1,265. And the Nasdaq rose 6.56 points, or 0.3 percent, to 2,625.
  • The Obama administration is refusing to label China a currency manipulator. The Treasury Department says the Chinese yuan (yoo-AHN') appreciated 12 percent against the dollar in the past 18 months. But Treasury agrees the yuan is still "substantially undervalued."
  • Improved economic news in the U.S. and tension in the Middle East pushed oil prices above $100 a barrel. Benchmark crude in New York rose $1.66 to $101.34. In London, Brent crude finished above $109 a barrel. Trading was light.
  • A $553 million settlement has been announced concerning inflated prices for the liquid crystal display screens used in TVs and computer monitors. Officials in eight states accused seven companies based in Asia of conspiracy. The settlement includes Samsung, Epson, Sharp, and Hitachi.
  • The New York Times Co. says it's selling its Regional Media Group to Halifax Media Holdings LLC for $143 million. The media group includes 16 small, regional newspapers including The Press Democrat in Santa Rosa, Calif.; the News Chief in Winter Haven, Fla.; and The Tuscaloosa News in Tuscaloosa, Ala.

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