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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 26, 2011
Page
6
Wall Street ended its worst week in two months on a thin trading day after Thanksgiving. The Dow fell 25.77 points to 11231.78, the S&P 500 slid 3.12 to 1158.67, and the Nasdaq dropped 18.57 to 2441.51 as four stocks fell for every three rose on the NYSE.
Washington Post reports daily deal sites led by LivingSocial Groupon and Gift Groupe push holiday promotions as they vie against Amazon Walmart and other retailers. Analysts say deal sites remain under 1 percent of online holiday sales though revenue could reach 2.67 billion this year with rising consumer interest. Groupon Epic Deals include a $5000 private Ellen taping prize and a Todd English dinner party.
The dispute centers on the amended 2008 Lacey Act and whether Gibson and other U S firms must verify that forest products origin wood is legal. Prosecutors point to raids in Tennessee and claims of lax controls over middlemen importing Indian rose wood. CEO Henry Juszkiewicz says firms rely on trusted suppliers.
AT&T and T-Mobile moved to scrap their 39 billion deal after FCC opposition and a Justice Department lawsuit. They expect a 4 billion breakup charge to Deutsche Telekom and potential penalties if not completed by 2012, while seeking other settlement options.
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