Email List Google Plus
 

Football FridayVolunteer for Feast of GivingGolf CardReal EstatePump PatrolOn-Time TrafficPhoto Galleries

Forecast

Today: Increasing Clouds through the Afternoon - Quite Possibly the Last Summer-Like Day of 2014.
High: 82     Winds: S 5-10 mph

Tonight: Clouds Fill in and Rain Chances Increase Through the Morning.
Low: 63     Winds: S 5-15 mph

Tomorrow: ...
More...
Washington Times
Advertise with us!

Business News

Last Update on October 02, 2014 08:13 GMT

FINANCIAL MARKETS

UNDATED (AP) -- Financial markets got off to a rough start in October as disappointing economic news and Ebola fears drove stocks lower. Surveys indicated German and U.S. manufacturing had slowed last month.

Asian stocks fell Thursday amid similar anxieties.

Japan's Nikkei 225 index lost 1.7 percent to 15,815.45 points and South Korea's Kospi fell 0.9 percent to 1,973.31. Australia's S&P/ASX 200 declined 0.7 percent to 5,295.7. Stocks in Southeast Asia also lost ground. Markets in Hong Kong and China were closed for a public holiday.

In New York, investors dumped airline stocks amid concerns that travel will decline because of the Ebola threat, and bought a handful of drug companies working on experimental treatments for the deadly disease.

Nervous investors shifted their money to havens like bonds and gold.

The blue chip Dow index lost 238.19 points, or 1.4 percent, to 16,804.71. The Standard & Poor's 500 index lost 26.13 points, or 1.3 percent, to 1,946.16 and the Nasdaq composite lost 71.30 points, or 1.6 percent, to 4,422.09.

ECONOMY-THE DAY AHEAD

WASHINGTON (AP) --The Labor Department will report on the number of people who applied for unemployment benefits last week. Economists forecast that weekly applications rose a slight 5,000 to a seasonally adjusted 298,000.

Also today, the Commerce Department reports on U.S. factory orders for August. In July, factory orders rose 10.5 percent, the biggest one-month increase on record going back to 1992.

Freddie Mac will report on average U.S. mortgage rates for this week. Last week, the average for the 30-year loan eased to 4.2 percent from 4.23 percent the previous week.

EBOLA-AIRLINES

UNDATED (AP) -- The first reported case of Ebola in the United States has caused concern among airline investors and is raising the prospect that some frightened travelers might stay home.

Details of the man's 28-hour trip from western Africa emerged Wednesday. He flew on two airlines, took three flights, and had lengthy airport layovers before reaching Texas on Sept. 20.

Still, federal officials say other passengers on the flights are at no risk of infection because the man had no symptoms at the time of his trip.

Thomas Eric Duncan left Monrovia, Liberia, on Sept. 19 aboard a Brussels Airlines jet to the Belgian capital, according to a Belgian official. After layover of nearly seven hours, he boarded United Airlines Flight 951 to Dulles International Airport near Washington, D.C. After another layover of nearly three hours, he then flew Flight 822 from Dulles to Dallas-Fort Worth International Airport, the airline confirmed.

MINIMUM WAGE

WASHINGTON (AP) -- The Labor Department is following through on President Barack Obama's pledge to get the ball rolling on a higher national minimum wage in the absence of any congressional legislation to accomplish this goal.

Labor Secretary Thomas Perez has finalized a federal rule raising the minimum wage for employees of federal contractors to $10.10 an hour.

Wednesday's move puts in force a step that Obama announced last February. The Labor Department said nearly 200,000 American workers will benefit from the new minimum, which takes effect Jan 1.

The minimum federal wage is now $7.25 an hour. Obama has proposed the higher pay level for all workers, but that has drawn resistance from Republicans in Congress. In announcing the new rule, Perez says that by raising the minimum wage for workers on federal contracts, the administration "is rewarding a hard day's work with fair pay."

STOCKTON BANKRUPTCY TRIAL

SACRAMENTO, Calif. (AP) -- A federal judge dealing with the bankruptcy issue has struck at the sanctity of public pensions in California.

U.S. Bankruptcy Judge Christopher Klein ruled Wednesday that federal bankruptcy law allows the city of Stockton to treat pension fund obligations like other debts, meaning the city could trim benefits.

The city of Stockton argued that it must make its pension contributions for public employees before its creditors are paid the entire amount they are owned.

The case is being closely watched because it could help clarify who gets paid first by financially strapped cities around the nation -- retirement funds or creditors.

The ruling was prompted by a key creditor's contention that pension obligations should be treated like other debts.

DETROIT BANKRUPTCY

DETROIT (AP) -- Emergency manager Kevyn Orr has testified in bankruptcy court that when he took over Detroit's finances, he found a city with poor services for residents, next to no cash flow and significant neighborhood blight.

Orr, hired by the state in March 2013 to fix Detroit's finances, took the city into the largest municipal bankruptcy in U.S. history. He was called to the stand and questioned by a city lawyer in federal court in Detroit.

Judge Steven Rhodes is to decide whether Orr's plan to remove $7 billion in debt is fair to creditors. Orr has said Detroit's unsecured debt is about $12 billion.

Orr said Wednesday that before he filed for bankruptcy, every creditor wanted to be "paid in full."

DAIMLER ALLEGATIONS

PORTLAND, Ore. (AP) -- Oregon's labor commissioner has filed a complaint against heavy-duty truck and school bus manufacturer Daimler Trucks North America, alleging five employees at its Portland plant were subjected to racial slurs and threats.

A statement Wednesday from Commissioner Brad Avakian says the accusations will be investigated, and if they bear out, workers could be awarded damages including back pay if they've quit.

Among the allegations, according to the statement, is that a Daimler Trucks employee threatened a black co-worker with a noose, saying he'd drag the African-American behind a car.

A statement from Daimler Trucks said it doesn't tolerate discrimination and trains employees to avoid it. It also said the company is cooperating with the investigation and has hired an outside investigator to look into the allegations.

HEALTH OVERHAUL-RATES-MISSOURI

KANSAS CITY, Mo. (AP) -- A consumer group is suing the U.S. Department of Health and Human Services to obtain information used to justify insurance rates in Missouri.

The Consumer Council of Missouri filed the complaint Tuesday in federal court. The agency didn't immediately respond to an email to its press office seeking comment.

The consumer group says the new health insurance law requires the agency to make the rate information public so consumers have the chance to challenge the costs they pay for health insurance. But the suit alleges that HHS has denied its records request.

Missouri is one of several states allowing the federal government to run their health insurance exchange. The suit says Missouri is reliant on HHS for any information regarding health insurance plans to be sold in 2015.

Advertise with us!

 
  • Dayton Ohio News, Weather, Traffic :: News - Know Your Candidates

    Know Your Candidates

    Learn about the candidates running for office near you!
  • Dayton Ohio News, Weather, Traffic :: News - Border Crisis

    Border Crisis

    Get the latest developments on the border control issue!
  • Dayton Ohio News, Weather, Traffic :: News - Chefs Corner

    Chefs Corner

    We often invite local chefs into our studio kitchen to demonstrate their cooking techniques and recipes.  Watch those video segments on this page.
  • Dayton Ohio News, Weather, Traffic :: News - Pay It Forward

    Pay It Forward

    River Valley Credit Union, FOX45, and ABC22 recognize the good deeds of people and organizations who make the Miami Valley a better place.
  • Dayton Ohio News, Weather, Traffic :: News - Health Care Reform

    Health Care Reform

    The Supreme Court ruling to uphold the Affordable Care Act sparked a new battle. Check here daily for the latest developments, locally and across the country.

  • Dayton Ohio News, Weather, Traffic :: News - Secrets Of A Thief

    Secrets Of A Thief

    We expose the "Secrets Of A Thief". Sponsored by Shiver Security.
  • Dayton Ohio News, Weather, Traffic :: News - Cool Schools

    Cool Schools

    Our children are the way of the future and it all starts with our schools. Join us as our Hilary Zalla goes inside schools around the Miami Valley to find out what cool things students and teachers are ...
  • Dayton Ohio News, Weather, Traffic :: News - Town Hall

    Town Hall

    Join in as our expert panel discusses jobs in Ohio
  • Dayton Ohio News, Weather, Traffic :: News - No Text Zone

    No Text Zone

    Texting While Driving Kills Thousands of People Each Year. Many More are Seriously Injured. You Can Help Make Our Roads a NO TEXT ZONE.
  • Dayton Ohio News, Weather, Traffic :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • Dayton Ohio News, Weather, Traffic :: News - On Time Traffic

    On Time Traffic

    Get the latest traffic information and updates here!
  • Dayton Ohio News, Weather, Traffic :: News - School Closings

    School Closings

    Get the list of all closings and delays for schools and businesses within the area, and sign up for text alerts!
  • Dayton Ohio News, Weather, Traffic :: News - Save Local TV

    Save Local TV

    Find out how you can save local TV right here!

  • Dayton Ohio News, Weather, Traffic :: News - Raw News

    Raw News

    Watch raw, unedited and uncensored news stories right here!
  • Dayton Ohio News, Weather, Traffic :: News - Pump Patrol

    Pump Patrol

    Find the lowest gas prices, check out local and national price trends, report low prices and get fuel saving tips!
  • Dayton Ohio News, Weather, Traffic :: News - Political Pulse

    Political Pulse

    Armstrong Williams is a pugnacious, provocative and principled voice for conservatives and Christian values in America's public debates.
  • Dayton Ohio News, Weather, Traffic :: News - News Links

    News Links

    These links were chosen by the newsroom for their newsworthy content. These sites enhance the news stories that aired on the newscast on the dates cited.
  • Dayton Ohio News, Weather, Traffic :: News - Menard's Around the House

    Menard's Around the House

    Menards Around the House how-to videos give you tips for those much needed home improvements!
  • Dayton Ohio News, Weather, Traffic :: News - On the Move

    On the Move

    Get the latest news and more on your mobile phone!
  • Dayton Ohio News, Weather, Traffic :: News - Good Morning

    Good Morning

    It's Fun, it's fresh, the way mornings should be!
  • Dayton Ohio News, Weather, Traffic :: News - Top Stories

    Top Stories

    Get up to the minute information from across Ohio in our Top Stories section!
  • Dayton Ohio News, Weather, Traffic :: News - Your Voice. Your Future.

    Your Voice. Your Future.

    As the country faces challenges from federal budget issues to jobs and national debt, your voice is critical to the future.
  • Dayton Ohio News, Weather, Traffic :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments or any groups are using your money wisely...or wasting it.

more »

Business News

Ebola threat, poor manufacturing reports, drive markets down

UNDATED (AP) -- Financial markets got off to a rough start in October as disappointing economic news and Ebola fears drove stocks lower.

Consumer Info

   WEST PALM BEACH, FL -- (Marketwired) -- 03/21/14 --
 Companies that pride themselves on being eco-friendly may have conflicted
 ideas between marketing with ad specialties and maintaining their green
 reputation. ...

Entertainment News

ORANGE IS THE NEW BLACK-AUTHOR

LOWELL, Mass. (AP) -- She isn't doing spoilers.

Get This

MEAT THIEF

CROTON-ON-HUDSON, N.Y. (AP) -- Is that a roast beef in your pants?

Science/Tech News

IN THE NEWS: FACEBOOK APOLOGIZES TO DRAG QUEENS AND TRANSGENDER

NEW YORK (AP) -- Facebook is trying to save face with drag queens and transgender persons.

Tonight on ABC 22

6:00 pm ..... ABC 22 News at Six
6:30 pm ..... ABC World News
7:00 pm ..... Family Feud
7:30 pm ..... Family Feud
8:00 pm ..... Grey's Anatomy
9:00 pm ..... Scandal
10:00 pm ... How To Get Away With Murder
11:00 pm ... ABC 22 News at Eleven
11:30 pm ... Jimmy Kimmel Live
12:30 am ... Nightline
Complete Schedule»