By TIMES WIRES
Published October 17, 2006
Dow creeps toward magic 12,000 mark
Wall Street extended its record-setting advance Monday, sending the Dow Jones industrial average within a whisper of 12,000. The blue chip index came within 3 points of reaching the milestone for the first time before falling back minutes before the close; it still managed a record high close, its seventh in two weeks. According to preliminary calculations, the Dow rose 20.09, or 0.17 percent, to 11,980.60. In the final hour of trading, the Dow reached a record trading high of 11,997.25.
Gas prices sink but oil's on the rise
U.S. gasoline at the pump fell 3.5 cents to a nationwide average of $2.226 a gallon, the lowest price since Dec. 26, a government report showed Monday. Gas prices in the week ended Monday were 49.9 cents a gallon lower than a year ago. At the same time, oil prices jumped by more than $1 a barrel as OPEC prepares to meet later this week and cold weather forecasts prompted traders to bid up the home-heating fuels.
Yahoo to pick up CBS news feeds
Yahoo Inc. this week will begin showing news clips supplied by 16 CBS Corp. television stations scattered across the country, providing the Internet's most trafficked Web site with another online video magnet. The deal with the CBS-owned stations announced Monday will allow Yahoo to post 10 to 20 local news clips from each of the CBS-owned TV stations in some of the nation's largest metropolitan markets.
Battery recall's price may go up
Japanese computer- makers Toshiba, Fujitsu and Hitachi said Monday they are considering seeking compensation from Sony Corp. over the massive recall of Sony-made batteries used in their laptop computers. Toshiba Corp., which is recalling 830,000 Sony battery packs because they pose a fire risk, said it is considering various measures including seeking compensation for lost business or damage to its brand image as a result of the recall.
AirTran picks up new destination
AirTran Airways will fly from Tampa International Airport to Westchester County in New York. The discount airline will make one daily round-trip flight between Tampa and White Plains starting Dec. 21.
French may ease Airbus delay pain
The French government plans to offer financial help to Airbus suppliers hit by delays to the A380 superjumbo jet, Transport Minister Dominique Perben said Monday. Perben said the government will extend bridging loans and loan guarantees to the worst affected French aerospace companies.