Page 25 - ARUBA TODAY

BUSINESS Friday 15 September 2017
A25

Dow ekes out another record even as other indexes struggle

By MARLEY JAY Alphabet, Google’s parent speeding up, though it’s they make borrowing more 38 cents to $46.11 and gro-
AP Markets Writer company, lost ground. The not clear how much of the expensive. cery store operator Kroger
NEW YORK (AP) — It was a Russell 2000 index of small- recent increase in gas pric- Michael Scanlon, a port- fell 47 cents, or 2.2 percent,
split decision on Wall Street er-company stocks fell 1.87 es was due to Hurricane folio manager for Manulife to $21.26.
on Thursday as gains in a points, or 0.1 percent, to Harvey, which deluged the Asset Management, said if Jewelry seller Tiffany
handful of industrial and 1,425.02. Gulf Coast region in late inflation does get stronger dropped $4.56, or 4.8 per-
health care companies On the New York Stock Ex- August and caused many over the next few months, cent, to $90.95 after one
largely outweighed slug- change, there were slightly drilling rigs and refineries to “it would be a sign of more of its biggest shareholders,
gishness elsewhere in the more winners than losers. shut down. health in the economy Qatar’s investment fund,
market, including the tech- said it sold some of its Tif-
nology sector. fany stock.
Sizable gains by Boeing Boeing rose another $3.30,
and United Technology or 1.4 percent, to $245.23.
were enough to push the Wednesday afternoon,
Dow Jones industrial aver- CEO Dennis Muilenburg
age to another record, but said the company expects
other major indexes fell. to start delivering more
Retailers were also weak planes. The stock rose 0.6
after the government said percent a day ago. Other
prices paid by consumers industrial companies also
jumped in August. climbed. United Technolo-
That could prompt the gies gained $2.86, or 2.6
Federal Reserve to raise in- percent, to $113.14.
terest rates sooner than ex- Benchmark U.S. crude oil
pected in order to cool the rose 59 cents, or 1.2 per-
economy and stave off in- cent, to $49.89 a barrel.
flation. That would be bad That was its highest closing
for companies like retailers price since the end of July.
that depend on shoppers Brent crude, used to price
spending money. international oils, gained
Energy companies rose as 31 cents to $55.47 barrel in
U.S. crude oil climbed to its London.
highest price in six weeks. Social Capital Hedosophia Holdings Corp. CEO, Founder and Chairman Chamath Palihapitiya, Among energy compa-
The Standard & Poor’s 500 left, is applauded by New York Stock Exchange president Tom Farley as he rings a ceremonial bell nies, Schlumberger rose
index slid 2.75 points, or 0.1 when his company’s stock begins trading on the floor of the New York Stock Exchange, Thursday, 78 cents, or 1.2 percent, to
Sept. 14, 2017.
percent, to 2,495.62. The (AP Photo/Richard Drew) $67.70 and Anadarko Pe-
Dow Jones industrial aver- troleum picked up 40 cents
age rose 45.30 points, or The Labor Department re- The Federal Reserve will overall,” he said. to $43.53.
0.2 percent, to 22,203.48. It ported that U.S. consumer meet next week and in- Urban Outfitters fell 77 Chipmaker Lattice Semi-
was the Dow’s third straight prices grew 0.4 percent in vestors wondered if Thurs- cents, or 3.3 percent, to conductor slipped after the
record high close. August as gas and housing day’s report makes it more $22.77 and discount re- U.S. government stopped
The Nasdaq composite costs rose. likely the Fed will raise in- tailer Ross Stores lost 81 its sale to a firm backed by
slumped 31.10 points, or 0.5 Prices are up 1.9 percent terest rates later in the cents, or 1.3 percent, to the Chinese government
percent, to 6,429.08 as big over the last year. That year. Higher interest rates $60.60. Amazon shed $7.39 because of national secu-
names like Facebook and could show inflation is reduce growth because to $992.21. Coca-Cola lost rity concerns. q

UK asks regulator to probe standards doubts over Fox-Sky bid

By JILL LAWLESS making substantive repre- An earlier attempt to have 24 weeks to investi- conduct a comprehensive
Associated Press sentations” against it. buy the remaining shares gate. Bradley will make the investigation “that looks
LONDON (AP) — The Brit- Bradley has previously said was scuttled by the 2011 final decision on whether at all relevant evidence,
ish government confirmed she will also ask the regula- phone-hacking scandal to approve the deal. including historic corpo-
Thursday it is asking the tor to examine whether the that rocked Murdoch’s Brit- The opposition Labour rate governance failures
country’s competition reg- deal would concentrate ish newspaper arm, News Party’s culture and media at News International and
ulator to investigate Twen- too much power in the International, and led him spokesman, Tom Watson, more recent failures at Fox
ty-First Century Fox Inc.’s hands of Rupert Murdoch’s to close the 168-year-old called on the regulator to in America.”q
bid for satellite broadcaster media empire. News of the World.
Sky because of concerns Murdoch owns British news- Opponents say the tabloid
about broadcasting stan- papers including the Sun wrongdoing, and allega-
dards.Culture Secretary and The Times of London, tions of racial discrimina-
Karen Bradley announced and his media group is try- tion and sexual harassment
her decision two days af- ing to buy the 61 percent of at his U.S. TV network Fox
ter she told lawmakers she Sky it doesn’t already own. News, show that Murdoch
was “minded” to make the The takeover values Sky, does not meet the require-
referral to the Competition which broadcasts Premier ment that U.K. media own-
and Markets Authority. League soccer and top ers be “fit and proper”
Bradley said that since then film and television offerings people.
Sky and Fox had indicated in Britain and other Europe- Once Bradley makes the
they disagreed with the an markets, at 18.5 billion formal referral in the next
decision but “would not be pounds ($25 billion). few days, the regulator will