Page 25 - ARUBA TODAY

BUSINESS Friday 15 december 2017
A25

Health care companies, banks drive lower close for US stocks

The losses outweighed ciple on Wednesday, but
gains among retailers, were still finalizing the leg-
which got a boost from a islation, which they plan
government report show- to unveil Friday and then
ing that retail sales jumped move it through the Senate
in November. next week.
The Standard & Poor’s 500 “With all eyes being on
index fell 10.84 points, or 0.4 tax reform and getting re-
percent, to 2,652.01. The ally, really close to having
Dow Jones industrial aver- it passed, now it comes
age lost 76.77 points, or 0.3 down to the votes,” said
percent, to 24,508.66. The Tom Martin senior portfolio
Nasdaq shed 19.27 points, manager at GLOBALT In-
or 0.3 percent, to 6,856.53. vestments.
The Russell 2000 index of The stock indexes had been
smaller-company stocks moving higher earlier in the
gave up 17.50 points, or 1.2 day after the Commerce
percent, to 1,506.95. Department said that sales
Despite the declines, the at retailers and restaurants
indexes are all on track to jumped 0.8 percent last
finish the week with a gain. month. Sales in a category
Republican Sen. Marco that mostly includes online
Rubio said Thursday he will shopping leapt 2.5 percent,
Trader Edward Landi works at the New York Stock Exchange. Health care companies and banks vote against the proposed while sales at electronics
drove U.S. stocks lower Thursday, pulling major indexes below their recent highs. tax bill unless negotiators stores rose 2.1 percent. Fur-
(AP Photo/Mark Lennihan) expand its child tax credit. niture store sales increased
By ALEX VEIGA that some Republican sen- rest of the market. The bill would increase the 1.2 percent.
AP Business Writer ators’ support for the GOP’s “The market is focused al- child tax credit to $2,000 The report helped lift sev-
Health care companies proposed tax overhaul bill most completely on the from $1,000, but the Flori- eral retailers. Tiffany & Co.
and banks drove U.S. stocks was faltering. corporate tax reduction,” da lawmaker wants more. gained $3.24, or 3.4 per-
lower Thursday, pulling ma- Small-company stocks, said Quincy Krosby, chief Meanwhile, a spokesman cent, to $99.34, while Mat-
jor indexes below their re- which would be among market strategist at Pruden- for Republican Mike Lee tel added 65 cents, or 4.2
cent highs. the biggest beneficiaries of tial Financial. “And there said the senator is undecid- percent, to $16.24.
The afternoon slide, which the bill’s reduction of cor- are still concerns that some ed on the bill. Health care stocks ac-
erased gains from earlier porate income tax rates, of the key Republican sen- House and Senate leaders counted for much of the
in the day, came on news declined more than the ators are wavering.” agreed on the bill in prin- market’s losses. q

Fox looks to wrap up Sky takeover in UK, hand over to Disney

By DANICA KIRKA Century Fox completes its a six-month investigation, are allegations that 21st news operations. Longtime
Associated Press acquisition of Sky prior to bringing renewed atten- Century Fox’s board failed Murdoch critic Tom Wat-
LONDON (AP) — 21st Cen- closing of the transaction, tion to the mogul’s hold- to recognize that sexual son said Disney had to take
tury Fox said Thursday it will The Walt Disney Company ings and efforts to con- harassment was a problem care not to let the “toxic
still try to complete its 11.7 would assume full owner- solidate his empire. With until a Fox News anchor corporate culture we have
billion pound ($15.4 billion) ship of Sky, including the Murdoch already own- took the issue to court, ac- seen in the Murdoch em-
takeover offer for Sky, a assumption of its outstand- ing the Sun and The Times cording to a Sept. 12 let- pire to contaminate their
move that would hand the ing debt, upon closing,” newspapers, there are ter to the company from business and tarnish their
major European broad- the companies said in a concerns that he and his the Department for Digital, reputation”q
caster over to Disney as it in statement. Disney is buy- company would wield too Culture, Media and Sport,
turn buys most of Fox. ing much of Fox for about much power in Britain. But which Bradley heads. One
Sky is based in London but $52.4 billion in stock, includ- the regulator will also look question raised by Disney’s
has strong news and pay-TV ing film and television stu- at a variety of other issues takeover of Fox is whether it
operations across Europe, dios and cable and inter- to determine whether the could make it easier for Brit-
and is particularly prized for national TV businesses. Brit- merged entity would have ish regulators to approve
its sports broadcasting op- ain’s competition regulator a “genuine commitment the takeover of Sky, know-
erations, including the Eng- is conducting an investiga- to broadcasting standards ing that it would not remain
lish Premier League soccer tion into whether Fox’s bid objectives.” Among these within Murdoch’s stable of
matches. Fox, controlled for Sky would give Murdoch
by Rupert Murdoch’s fam- and his family too much
ily, has faced hurdles in try- control over the country’s
ing to buy the 61 percent of news media. Culture Sec-
Sky it doesn’t already own. retary Karen Bradley asked
But it said Thursday that it the Competition and Mar-
remains confident that Brit- kets Authority to evaluate
ain’s competition regulator the takeover in September,
and government will ap- taking a look at Fox’s com-
prove the Sky takeover by mitment to broadcasting
the expiration of the offer standards and the deal’s
on June 30, 2018. The take- impact on media plurality
over values Sky at 18.5 bil- in the U.K.
lion pounds. “Assuming 21st Her decision touched off