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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Aug 13, 2004
Page
9
Trading session showed the Dow Jones Industrial Average around 9,814 with 109 volume 1.74 billion. Advancers 974 and 827 versus decliners 2,272 and 2,247. new highs and lows varied, with 142 and 404 unchanged.
A UFCW union representing about 8,500 Kroger supermarket workers in Ohio Kentucky and Indiana began bargaining for a new contract. The current pact expires Oct. 9. The talks target health care and pension costs as Kroger faces Wal Mart competition. Lennie Wyatt of Local 1099 notes tough bargaining ahead.
Shoppers who left stores in June returned in July buying cars and other big-ticket items. Commerce Department data show overall retail sales up 0.7 percent. Auto demand rose due to dealer incentive offers. Labor Department also reported unemployment claims fell by 4,000 to 333,000, the smallest in five weeks.
Timothy Charles Mattos, 32, of Folsom, was indicted by a federal grand jury in Sacramento on 10 fraud and money laundering counts for allegedly stealing more than $20 million from Verizon Wireless prepaid service. A warrant is issued for his arrest.
Google Inc plans to open the IPO bidding today and set final price next week. Twenty eight brokerages will accept bids from 9 a.m. Securities lawyers warn that Playboy interview with co founders Larry Page and Sergey Brin could delay the IPO by violating rules on what executives can say as the offering approaches.
US Commerce official William Lash warns Beijing over epidemic piracy depriving firms of up to 50 billion dollars in annual losses across sectors from heart medicine to golf clubs. He cites weak local enforcement, calls for prison terms for violators, and potential WTO action while noting counterfeit milk powder deaths and widespread fake goods.
Stocks tumbled as rising crude above 45 dollars and Hewlett Packard weak results pushed the Dow down 123.73 points to 9,814.59, the Nasdaq at 1,752.49. Analysts warned on aggressive Fed hikes even as fundamentals appeared cheap. oil stayed a market overhang.
The Pew Internet study shows most adults shop offline and rely on phones and offline channels to stay in touch despite growing Internet use. Online maps emerge as the sole activity done more online than offline, while digital music remains a small online favorite. The findings stress that Internet adoption advances with speed, convenience and efficiency.
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