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Wednesday Evening Business Brief

July 2, 2014, 7:42 PM

Wednesday Evening Business Brief

NEW YORK (AP) - Stocks are closing at record levels following news that business hiring surged in June. Payroll processer ADP says U.S. businesses added 281,000 jobs last month, up from 179,000 in the previous month. The Dow rose 20 points to close at 16,976. The S&P 500 index rose a point to 1,974. The Nasdaq composite edged down a point to 4,457.

  • The price of oil is down a little today despite a report from the Department of Energy that shows stockpiles of crude fell more than expected last week. Benchmark U.S. crude for August delivery fell 86 cents to $104.48 a barrel in New York, its fifth day of declines. Brent crude, a benchmark for international oils, fell $1.05 to $111.24 a barrel in London.
     
  • The government has received a total of $946 million in repayment from a Puerto Rican bank as part of a federal bailout program following the 2008 financial crisis. Popular was the largest bank that remained in the program. The government recovered $1.22 billion of principal and interest stemming from an original investment of $935 million in Popular.
     
  • Silicon Valley venture capitalist Tim Draper has snapped up nearly 30,000 bitcoins in a government auction. He plans to sell the digital currency in countries trying to build stronger economies. Draper prevailed over 44 other bidders registered for an auction of bitcoins seized last year from Silk Road, a website that stockpiled the currency while selling illegal drugs.
     
  • Nielsen says an estimated 21.6 million people watched Belgium knock out the U.S. soccer team in the World Cup. The audience stands behind the 24.7 million who watched the United States play Portugal on June 24, which tied the 2010 World Cup final for the biggest audience for a televised soccer match in the United States.

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