Friday Afternoon Business Brief – December 30

  • Technology companies are leading U.S. stock indexes lower on the final trading day of 2016. Real estate stocks and banks are eking out small gains. Trading is subdued ahead of the three-day New Year’s weekend. U.S. financial markets will be closed on Monday.
  • President Barack Obama plans to meet with Democratic lawmakers next week about how to prevent Republicans from destroying his Affordable Care Act. The White House says Obama will meet with House and Senate Democrats on Wednesday. The White House says Obama will also hold a live interview next Friday with news site Vox about “Obamacare.”
  • Relatives say the chief executive of a beverage distribution company was piloting the plane that disappeared overnight after taking off from a Cleveland airport. Six people were aboard the plane, which was headed to Columbus when it vanished over Lake Erie. They included Superior Beverage Company executive John T. Fleming, his wife and two teenage sons, according to Fleming’s parents.
  • The nation’s coal mines are on track for a new low in on-the-job deaths for the third year in a row. With just a day left in 2016, U.S. coal mines have recorded nine deaths, putting the number of fatal accidents in the single digits for the first time. West Virginia had four. Kentucky had two deaths and there was one each in Alabama, Illinois and Pennsylvania. The low numbers are attributed to far fewer coal mining jobs and tougher enforcement of mining safety rules.
  • Sporting goods chain Cabela’s says its proposed $4.5 billion sale to rival Bass Pro Shops faces some new hurdles. The Nebraska-based outfitter says the Federal Trade Commission wants more information about the merger. It also says Capital One doesn’t expect regulators to approve its takeover of Cabela’s Lincoln-based World’s Foremost Bank before October. Cabela’s says it’s hoping to find a way to close the deal sooner than that.

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