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Tuesday Morning Business Brief

March 4, 2014, 5:34 AM

Tuesday Morning Business Brief

U.S. stocks fell the most in a month on Monday, as Russia's military advance into Ukraine rattled global markets. The S&P 500 fell 13.72 points, or 0.7 percent, to 1,845.73, the biggest drop since Feb. 3. The Dow Jones industrial average dropped 153.68 points, or 0.9 percent, to 16,168.03. The Nasdaq composite fell 30.82 points, or 0.7 percent, to 4,277.30. Futures point to a comeback this morning.

  • International stock markets rebounded today after tumbling over the Ukraine crisis as Russian troops in border exercises were ordered back to bases and China prepared for a policy meeting that could advance economic reform plans. Benchmark U.S. crude oil fell more than a dollar a barrel to just below $104. The dollar inched ahead against the euro and gained against the yen.
  • Dish Network is looking to the future in a deal it's made with Disney. The landmark agreement envisions the day when Dish will offer a Netflix-like TV service to people who'd rather stream TV over the Internet than put a satellite receiver on their roof. The deal paves the way for Dish to offer live local broadcasts from ABC TV stations and programming from other ABC properties. As part of the new rights deal, Dish Network Corp. agreed to disable the skip commercial feature on its Hopper digital video recorders for three days after the initial broadcast.
  • Toyota Europe expects to sell 865,000 units this year and increase its market share to 4.8 percent as the European car market enters what is expected to be a slow recovery from six years of contraction. Didier Leroy the head of Toyota Europe tells reporters that hybrid cars have been attracting new customers with the addition of the smaller Yaris hybrid and sportier Auris, beyond the original Prius.
  • Federal officials have filed a lawsuit alleging that Sprint Communications Inc. overbilled government agencies $21 million for wiretap services. The lawsuit alleges that that subsidiary of Sprint Corp. collected unallowable expenses while carrying out court-ordered wiretaps and other electronic intercepts of its customers. Communication companies ordered by courts to intercept customers' communications are allowed to recoup the cost of installing and maintaining the wiretaps.

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