Page 17 - Min SOC 16nov,2015
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BUSINESSMonday 16 November 2015
Short-term market drop likely after Paris terror Merck continuing
TOM KRISHER dead and more than 350 that’s going to throw the of below $40 per barrel. study of cholesterol
MARLEY JAY injured, come as investors European economy into France is among the top
AP Business Writers are already nervous about recession.” Based on the tourist destinations in the drug in new class
NEW YORK (AP) — The val- slowing economic growth reactions to similar attacks world, so airline revenue
ue of stocks, crude oil and in China and the future of in the past, Stovall expects and stocks could be hit. But LINDA A. JOHNSON
the European currency will the eurozone. stocks to begin recovering people might switch trips to AP Business Writer
likely fall this week as inves- after about a week. the U.S., which could par- TRENTON, N.J. (AP) — Mer-
tors worry about what the SHORT-TERM DECLINES Shane Oliver, chief econo- tially offset Europe declines. ck & Co. said this week-
Paris terror attacks will do Many analysts believe any mist at AMP Capital, said Oil supplies and prices end that it will continue a
to consumer confidence economic impact will be the U.S. market took just could be affected if NATO huge patient study of an
allies go to war against the experimental cholesterol
Islamic State in Iraq and medicine, the last one
Syria and if ISIS interrupts standing in a once-prom-
the flow of oil with attacks ising class of drugs being
on Saudi or Iraqi oil produc- developed to prevent
tion or shipping in the Suez heart attacks, after an
Canal. independent monitoring
But Tom Kloza, global head committee recommend-
of energy analysis for the ed the study continue.
Oil Price Information Ser- Merck, a pioneer in cho-
vice, said ISIS so far has not lesterol treatment that
threatened oil fields or sup- sells the popular pills Ze-
plies. Unless that changes, tia and Vytorin, has been
oil prices should stay low testing a drug that uses a
for at least the next few different mechanism to
months because there is an reduce artery-clogging
oversupply worldwide. cholesterol and ultimate-
ly prevent strokes, heart
A currency trader walks past the screen showing the Korea Composite Stock Price Index (KOSPI) BROADER ECONOMY attacks, procedures to
at the foreign exchange dealing room in Seoul, South Korea. The value of stocks, crude oil and Before the attacks, inves- clear or replace blocked
the European currency will likely fall this week as investors worry about what the Paris terror tors already were nervous arteries, and deaths from
attacks will do to consumer confidence and key parts of the global economy. about economic slow- heart disease. Tens of
downs in China and Eu- millions of people with
(AP Photo/Lee Jin-man) rope. In addition, there too-high levels of bad
were jitters in the U.S. even cholesterol, called LDL,
and key parts of the global short. over a month to recover though its economy ap- or too-low levels of good
economy. “As horrific as these events from the Sept. 11, 2001, at- pears stronger than the rest cholesterol, or HDL, take
The public nature of the are — and this is truly awful tacks, while the U.K. market of the world. Last week, medicines to control their
targets — cafes, a stadium — economic activity does rebounded in one day after U.S. stocks suffered their cholesterol regularly for
and a concert hall — could tend to be pretty resilient,” the 2005 London bombings. first weekly decline after six years, even decades,
make travelers hesitant said Howard Archer, an straight weeks of gains. making the category very
about visiting Paris or other IHS Global Insight analyst EFFECTS ON TRAVEL AND In China, mainland stock lucrative.
major cities. A decline in in the United Kingdom. “At CRUDE OIL markets are typically af- Merck shares were up 31
tourism in Europe could the end of the day, people Because the attacks aren’t fected by government cents at $53.34 on the
weaken the euro, while oil have to get on with their near oil fields, production policies rather than the news.
prices could fall on fears lives.” isn’t likely to be affected. economy. Chinese stocks The committee’s recom-
that demand will drop. The Sam Stovall, U.S. equity But demand for gasoline already were likely to drop mendation follows its re-
attacks also could hurt ma- strategist for S&P Capital and jet fuel could fall as Monday after the govern- view of data collected so
jor airlines in the U.S., Europe IQ, said the U.S. stock mar- people cut back on travel. ment tightened limits Friday far in the study of anace-
and Asia. ket will likely fall about 2 That means oil prices could on lending to finance stock trapib, which is funded by
Friday night’s suicide- percent Monday, with larg- fall further, even as they al- purchases, thereby cutting Kenilworth, New Jersey-
bombing attacks, which er declines in Europe. But ready were approaching speculative trading.q based Merck.
left at least 129 people he said “it’s not something last summer’s six-year lows The 30,000-patient study,
known by the acronym
Kohler Co. workers reject contract, favor strike REVEAL, compares im-
provement in bad cho-
SHEBOYGAN, Wis. (AP) — ship meeting at Sheboy- workforce. The offer raised hour, but workers with more lesterol levels in partici-
Union workers at Kohler Co. gan South High School. health care costs but in- seniority average between pants at high risk for heart
rejected the company’s Workers have taken issue cluded a $1,200 bonus that $21.50 and $23.50 an hour. disease who are given
latest contract offer Sun- with what they call an in- the company said could A Kohler spokesman has anacetrapib plus statins
day and overwhelmingly adequate pay increase, cover the increase. said the proposal would to levels in participants
approved a strike. higher health care costs The company had called raise the average wage for taking statins alone. The
United Auto Workers Lo- and the continuation of a it the “last, best and final lower-tier workers to above study, overseen by the
cal 833 said paper bal- two-tier wage scale that contract offer.” $17 an hour. Local 833 had UK’s Oxford University, be-
loting showed 94 percent pays newer employees Tim Tayloe, president of proposed phasing out the gan in May 2011 and is
of workers favor a strike, less. Kohler, a 142-year-old Local 833, has called the dual-wage system. A strike expected to conclude in
which would be the com- company headed by a two-tier system “a huge could idle about 2,100 pro- 2017.
pany’s first since 1983, the fourth-generation member sticking point.” Depend- duction employees at the Three other experimental
Milwaukee Journal Sentinel of the family, had called ing on whether company plumbing-ware foundry in drugs in the class, called
reported. for three raises of 50 cents or union figures are used, the Village of Kohler and CETP inhibitors, were test-
About 1,800 workers at- each — about 2 percent lower-tier workers average at a generator plant near ed by Merck rivals but
tended Sunday’s member- a year — for most of its roughly $12.50 to $13.50 an Sheboygan.q scrapped, leading some
analysts to predict Mer-
ck’s drug would fail as
well.q
