Business briefs- Wall Street falters, but ends quarter strong
Published: Wednesday, October 1, 2003 at 6:01 a.m.
Last Modified: Tuesday, September 30, 2003 at 11:04 p.m.
The Dow closed down 105.18, or 1.1 percent, at 9,275.06, according to preliminary calculations. The loss more than erased Monday's gain of 67.16. The Nasdaq composite index dropped 37.62, or 2.1 percent, to 1,786.94. The Standard & Poor's 500 index fell 10.61, or 1.1 percent, to 995.97.
Labor Department reports weak hiring
The department said this lack of hiring translated into a net job loss on business payrolls of 356,000 in 2002, the first full year of recovery from the 2001 recession. The job movements tracked by the study are similar to those in the department's monthly survey of non-farm business payrolls. However, the new version is based on the actual unemployment insurance reports that 6.4 million private-sector businesses are required to file.
Government to end airline reimbursement
After four months, the government aid program officially ended Sept. 30, forcing beleaguered airlines to decide whether to pass along these charges to customers, or hold historically low fares steady.
The security fee is $2.50 for each trip segment, and the reimbursements amounted to about $7 for each roundtrip ticket sold since June, according to the Air Transport Association.
Wal-Mart to adopt tougher tobacco policy
Wal-Mart has agreed to adopt new procedures in their stores nationwide such as accepting only valid government-issued photo IDs as proof of age, and will hire an independent company to conduct random compliance checks, Arkansas Attorney General Mike Beebe said Tuesday.
Execs suspended after conflicted fund trades
Alliance Capital, investment adviser to the Alliance family of mutual funds, said it is cooperating with New York Attorney General Eliot Spitzer and the Securities and Exchange Commission.
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