Business briefs


Published: Wednesday, December 1, 2004 at 6:01 a.m.
Last Modified: Tuesday, November 30, 2004 at 10:30 p.m.

Stocks slide on sliding consumer confidence

  • NEW YORK - Stocks sagged Tuesday as sliding consumer confidence trumped the latest report on the nation's gross domestic product, which grew at a faster pace than expected. Still, the major indexes ended November with their best monthly performance for the year.
    After a modest opening weekend to the holiday shopping season, a fourth straight monthly decline in consumer confidence was the last thing investors wanted to see. But analysts weren't overly alarmed by the selling, noting that it seemed relatively controlled and was typical of the sort of pause stocks often see after Thanksgiving and ahead of the seasonally strong month of December.
    The Dow Jones industrial average was down 47.88, or 0.46 percent, at 10,428.02, slipping back into negative range for the year.
    The broader gauges were also lower. The Standard & Poor's 500 index shed 4.75, or 0.40 percent, to 1,173.82. The Nasdaq composite index fell 10.06, or 0.48 percent, to 2,096.81.
    - The Associated Press

    Small business award nominations invited

  • Friday is the deadline for nominations for the 2005 North Florida Small Business Week awards.
    The Small Business Administration's North Florida District Office, which serves 43 counties, invites nominations in several categories, including small business person of the year, outstanding contributions to disaster recovery by a private citizen or public official, exporter of the year, family owned small business of the year and home-based business champion of the year.
    Local and state winners will be chosen Jan. 7 and invited to attend SBA Expo 2005 in Washington, D.C., April 25-30.
    For more information on these awards and for award criteria, visit www.sba.gov/fl/north/ and click on "2005 Nomination Guidelines," or contact Lola Kress at lola.kress@sba.gov or (904) 443-1933.
    -Marina Blomberg

    State business lobbying group names new chief

  • TALLAHASSEE - One of the most prominent and influential business lobbying groups in Florida will get a new leader Tuesday as Barney Bishop becomes president of Associated Industries of Florida.
    Bishop succeeds Jon Shebel, recognized as a top power broker in Tallahassee as head of the lobbying group, which represents more than 10,000 companies.
    Associated Industries employs more than 13 lobbyists at the Capitol, and is known for its ability to quickly mobilize thousands of businessmen around the state to support or rally against an issue.
    The group also is a major contributor - having given an estimated $750,000 to candidates this year, not including what its member companies gave.
    -The Associated Press

    Dollar drops to new low against the euro

  • BERLIN - The dollar hit a new all-time low against the euro, which rose to $1.3335 on Tuesday as new figures showed that U.S. economic growth in the third quarter was stronger than previously estimated.
    In late New York trading, the euro eased back to $1.3280, below its intraday high but still above Monday's late rate of $1.3273.
    The dollar's weakness has been fueled by concern over the U.S. trade and budget deficits, and analysts say markets are paying only limited attention to other economic data against that background.
    The dollar hit its low against the euro, whose previous record of $1.3329 was set Friday, shortly after European Central Bank President Jean-Claude Trichet renewed his assertion that the euro's rapid rise against the U.S. currency is "unwelcome."
    - The Associated Press
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