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.
12/15/2014 9:56 AM
A Sioux Falls bakery is getting more national recognition. CH Patisserie has been named one of the top 75 bakeries in the nation by The Daily Me...
12/15/2014 10:10 PM
For more than two decades, Cliff Hangers Gallery has been a fixture in Sioux Falls. A couple of years ago, the business moved from Park Ridge Ga...
12/16/2014 1:36 PM
Industry experts say gasoline prices will continue to fall in 2015, but other prices are expected to rise.
12/16/2014 4:30 PM
Philanthropist T. Denny Sanford is donating $25 million to South Dakota for a scholarship program for the state's technical schools.&nbs...
12/16/2014 10:04 PM
Sanford's money provides half of the funds for a $50 million scholarship program at the state's technical schools to train workers to fill job...