Update On The Latest In Business:

This is source I found from another site, main source you can find in last paragraph


US indexes mostly lower in quiet trade

NEW YORK (AP) — Major stock indexes are mostly lower on Wall Street in quiet trading ahead of the Thanksgiving holiday in the U.S.

Hewlett Packard Enterprise and HP both fell sharply today, and Rockwell Automation fell 1.3 percent after rejecting another offer from Emerson Electric.

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Energy stocks rose as the price of oil turned higher. Newfield Exploration gained 2.2 percent shortly. Oil rose 1.9 percent on reports that OPEC might extend its production cuts.

Farm equipment maker Deere rose 4.1 percent after reporting a strong quarter.

At 12:43 p.m. Eastern Time, the S&P 500 index fell 3 points, to 2,596.

The Dow Jones industrial average edged down 76 points, to 23,516.

And the Nasdaq composite added 2 points to 6,864.


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NY Attorney General probing Uber data breach

NEW YORK (AP) — New York’s state Attorney General has opened an investigation into a massive data breach at Uber.

A spokeswoman for Attorney General Eric Schneiderman confirms the probe, but will not comment further.

New York law requires that companies notify the Attorney General and consumers if data is stolen.

On Tuesday, Uber acknowledged that it covered up a year-old hacking attack that stole personal information about more than 57 million of the ride-hailing service’s customers and drivers. It also paid the hackers $100,000 to destroy the stolen information.

Uber CEO Dara Khosrowshahi says so far, there’s no evidence that the data taken has been misused


Applications for US unemployment benefits drop 13,000

WASHINGTON (AP) — The number of Americans filing applications for unemployment benefits fell for the first time in three weeks, pushing total applications down to a low 239,000, further evidence of the strength of the labor market.

The Labor Department is reporting that applications dropped by 13,000 last week after rising by 13,000 the previous week. The four-week average, which smooths out volatility, rose by 1,250 to 239,750.

The number of people receiving benefits rose by 36,000 to 1.9 million, still near a 44-year low.

Applications for unemployment benefits are a proxy for layoffs. The level of unemployment benefits has been below 300,000 for more than two years, a stretch not equaled in more than four decades. Employers added 261,000 jobs in October as the unemployment rate fell to 4.1 percent.


Rate on 30-year mortgages falls to 3.92 percent

WASHINGTON (AP) — The rate on benchmark 30-year, fixed-rate mortgages slipped this week to 3.92 percent from 3.95 percent last week. But the 15-year, fixed-rate mortgage, popular among homeowners seeking to refinance, blipped up to 3.32 percent from 3.31 percent.

A year ago, the 30-year stood at 4.03 and the 15-year at 3.25 percent.

Mortgage rates often follow the yield on 10-year Treasury notes, which dipped this week.

The five-year adjustable mortgage rate rose to 3.22 percent from 3.21 percent last week and 3.12 percent a year ago.


US durable goods orders fell 1.2 percent in October

WASHINGTON (AP) — Orders for long-lasting manufactured goods fell last month for the first time since July, pulled down by plummeting orders for commercial aircraft. A category that tracks business investment posted the biggest drop in more than a year.

The Commerce Department says orders for durable goods, which are meant to last at least three years, slid 1.2 percent in October. It was the first drop since a 6.8 percent decrease in July.

Last month’s figure was warped by an 18.6 percent drop in orders for commercial planes, a category that bounces around from month to month. Excluding transportation, orders were up 0.4 percent.

Overall, American industry is looking healthy, helped by an improving world economy and a drop in the U.S. dollar, which makes American products less expensive in foreign markets.


Airline defendants to pay $95 million in 9/11 settlement

NEW YORK (AP) — Insurers for defendants including American Airlines and United Airlines have agreed to pay $95 million to settle claims that security lapses led planes to be hijacked in the Sept. 11 attacks.

The settlement was described in papers filed Tuesday in Manhattan federal court. Developers of the new World Trade Center buildings had once demanded $3.5 billion from aviation companies after hijacked planes destroyed three skyscrapers on Sept. 11, 2001.

Developer Larry Silverstein and World Trade Center Properties have collected over $5 billion from other defendants through numerous lawsuits. The money has aided the reconstruction of buildings on the 16-acre lower Manhattan site.

Earlier settlements included $135 million paid to a financial services firm that lost two-thirds of its employees.


Iraq, GE sign $400 million deal for power infrastructure

BAGHDAD (AP) — Iraq and General Electric have signed a deal to develop Iraq’s power infrastructure, which would help bring much-needed electricity to areas facing significant shortages across the country.

GE says the more than $400-million contract will help building 14 electric substations and supply critical equipment such as transformers, circuit breakers and other outdoor equipment to revamp existing substations.

GE says the substations will hook up power plants in the provinces of Ninevah, Salahuddin, Anbar, Baghdad, Karbala (KAHR’-bah-lah), Qadissiyah and Basra to the national grid.

It says GE will also help Iraq’s Ministry of Electricity secure funding through various financial institutions.


Thanksgiving tribe calls on Trump to grant it casino lands

MASHPEE, Mass. (AP) — The Massachusetts tribe that broke bread with the Pilgrims is calling on President Donald Trump to honor his commitment to Native Americans.

Mashpee Wampanoag Tribe Chairman Cedric Cromwell says the Republican administration needs to “do right” by his tribe and grant it the sovereign territory it has long sought for a resort casino.

President Barack Obama’s administration placed 321 acres into trust for the tribe in 2015, but a federal judge sent the decision back to the administration for reconsideration after local residents sued. The 2016 ruling forced the tribe to halt construction of its casino in Taunton.

Ancestors of the Mashpee Wampanoag tribe shared a fall harvest meal with the Pilgrims in 1621, helping form the basis for the country’s Thanksgiving tradition.

The Trump administration didn’t immediately comment.

This is source I found from another site, main source you can find in last paragraph

Source : https://federalnewsradio.com/business-news/2017/11/update-on-the-latest-in-business-598/



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