Tuesday Evening Business Brief
December 4, 2012, 6:40 PM
- Stocks fell slightly in light trading as budget talks continued in Washington. The Dow dropped nearly 14 points to 12,952. The S&P fell 2 points, while the Nasdaq slipped more than 5 points.
- President Barack Obama says avoiding a plunge over the "fiscal cliff" will require Republicans to realize that tax rates must go up on wealthiest Americans. Perhaps indicating some leeway, the president said he would consider lowering rates for the top 2 percent of earners next year as part of a broader tax overhaul effort that closes loopholes, limits deductions and finds other sources of revenue.
- A federal mediator is being called in to help resolve an eight-day strike that has cost the economy billions of dollars while paralyzing the twin ports of Los Angeles and Long Beach. The Los Angeles mayor says striking clerical workers and shippers agreed to mediation after an all-night bargaining session that continued this morning.
- Netflix's video subscription service has trumped pay-TV channels and grabbed the rights to show Disney movies shortly after they finish their runs in theaters. The multiyear licensing agreement is a breakthrough for Netflix as it tries to add more recent movies to a popular service that streams video over high-speed Internet connections.
- Crude prices edged lower. Benchmark crude finished down 59 cents to settle at $88.50 a barrel in New York.
© 2012 Associated Press. All rights reserved. Material may not be redistributed.
8/22/2014 10:00 PM
$5 million: that's the price tag on a lawsuit filed by a South Dakota credit card company, First PREMIER/PREMIER Bankcard against a credit card co...
8/23/2014 12:33 PM
A single-screen movie theater in Vermillion has closed after serving the area for more than four decades.
8/21/2014 1:53 PM
If you used a credit or debit card at a UPS Store in the last seven months, some of your personal information could be a risk.
8/21/2014 10:05 PM
There are nearly eight million women owned businesses in the U.S. But only eight percent of construction businesses are owned by women.
8/24/2014 6:35 PM
A Napa Valley winery with Sioux Falls ties received damage from the largest earthquake to hit the bay area in 25 years.