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Modest gains...Oil prices slide...Food Network axes Paula Deen...Skilling sentence reduced

Friday - 6/21/2013, 6:50pm  ET

NEW YORK (AP) -- Wall Street's sell-off has ended at two days. The Dow gained 41 points to close at 14,799 today. For the week, the bluechip index was down about 271 points or 1.8 percent. The S&P 500 rose 4 and a-quarter points to 1,592, while the Nasdaq added 7 points to 3,357. The broader indexes finished the week down about 2 percent each.

NEW YORK (AP) -- The price of oil continues to slide. The prospect of a tighter supply of cash and slower growth in China helped push the price per gallon for benchmark crude down $1.71, to $93.69 in New York. That's a sharp drop from yesterday morning, when it was going for nearly $100 per barrel.

SAVANNAH, Ga. (AP) -- The Food Network is letting Paula Deen go, after the celebrity chef posted a videotaped apology for using racial slurs in the past. Deen has built an empire from her television shows, cookbooks and product endorsements. But the Food Network said Deen's contract would not be renewed when it expires at the end of the month, and did not elaborate.

HOUSTON (AP) -- Former Enron CEO Jeffrey Skilling has had 10 years cut off his prison sentence. Skilling has been in prison since 2006, when he was sentenced to more than 24 years for his role in the energy company's collapse. But an appeals court vacated the sentence, ruling that the sentencing guideline had not been applied properly. Skilling was resentenced to 14 years. His attorneys say Skilling could be released as early as 2017 with time off for good behavior and other factors.

WASHINGTON (AP) -- The government is moving toward easing restrictions on the use of electronic devices during takeoff and landing. The Federal Aviation Administration is under public and political pressure to ease the restrictions as more people use e-book readers, music and video players, smartphones and laptops. The concern has been that the devices could create electromagnetic interference with critical aircraft systems.


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