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Wall Street relief...Toyota hurdles remain....Oil supply increase

Saturday - 10/12/2013, 1:20pm  ET

NEW YORK (AP) -- Wall street investors breathed a sigh of relief late this week. Stock prices rose for a second day in a row on Friday as investors bet against a U.S. debt default. The Dow Jones industrial average rose 111 points Friday, bringing its two-day gain to 434. Its jump on Thursday was the biggest this year. A partial government shutdown pushed the Dow below 15,000 this week before President Barack Obama and House Republicans met on Thursday to talk about the outlines for a possible deal.

LOS ANGELES (AP) -- Toyota Motor Corp. still faces lawsuits claiming that defective electronics caused some of its cars to accelerate uncontrollably, often with tragic results. But a courtroom victory this week has given the automaker momentum heading into those cases. Jurors deliberated for about five days in Los Angeles before concluding that the automaker was not liable for the death of a 66-year-old killed in 2009 when her Toyota Camry was struck by another car, then continued on a harrowing ride until it slammed into a telephone pole and tree.

NEW YORK (AP) -- There's a forecast for an increase in global oil supplies next year. In its latest quarterly oil market report, the International Energy Agency predicted strong growth in non-OPEC supplies of crude oil. Benchmark crude for November delivery fell 99 cents Friday to close at $102.02 a barrel on the New York Mercantile Exchange. With three down days out of five, oil finished the week with a loss of $1.82 a barrel.

WASHINGTON (AP) -- The House has voted to hold formal negotiations with the Senate on a wide-ranging farm bill that sets policy for farm subsidies and food stamps. Farm-state lawmakers have pushed the five-year, roughly $500 billion legislation for two years as it has been mired in debates over spending. They are hoping to finish the bill by January, when some dairy supports expire and milk prices could rise.

BISMARCK, N.D. (AP) -- It took nearly two weeks for officials to tell the public when a pipeline rupture sent more than 20,000 barrels of crude spewing across a North Dakota wheat field. The break in a Tesoro Corp. pipeline happened in a remote area, and officials say no water was contaminated or wildlife hurt. But environmentalists are skeptical and say it's an example of a boom industry operating too cozily with state regulators.


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