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Tuesday Evening Business Brief

March 12, 2013, 6:31 PM

Tuesday Evening Business Brief
  • By a slim margin the Dow winning streak continues. A tiny gain today gave the Dow its eighth straight increase, long enough to match its longest series of gains since February 2011. The bluechip index rose 3 points to 14,450. But the broader S&P 500 ended down 4 points at 1,552 and the Nasdaq fell 10 ½ points to 3,242.
  • Federal regulators have approved a Boeing plan to redesign the 787 Dreamliner's fire-prone lithium batteries, although extensive testing will be needed before the planes can fly passengers again. The 787 fleet worldwide has been grounded since January 16, following a battery fire on parked Dreamliner in Boston and a smoking battery that led to an emergency landing by another 787 in Japan.
  • The price of oil has risen for a fourth straight day. Benchmark oil for April delivery gained 48 cents to finish at $92.54 per barrel in New York. Oil has risen nearly 3 percent in the last four trading sessions.
  • The National Labor Relations Board plans to appeal to the U.S. Supreme Court a decision that invalidated President Barack Obama's recess appointments to the agency. The board is seeking to overturn a decision by a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit, which ruled in January that Obama violated the Constitution when he bypassed the Senate to install three members to the labor board.
  • Senators working on a bipartisan immigration bill are likely abandoning the idea of requiring a new high-tech federal ID for workers because it's too expensive. Republican Sen. Lindsey Graham of South Carolina says cost estimates for the biometric ID card he favors came in higher than expected. The card was intended as a way to ensure employers don't hire illegal workers.

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