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Stocks slide...Bus company had less-than-stellar record...Canada phasing out the penny

Monday - 2/4/2013, 4:00pm  ET

NEW YORK (AP) -- U.S. stocks are sharply lower on the first trading day since the Dow Jones industrial average cracked 14,000. The Dow has been off more than 140 points. Friday was the first time the Dow closed above 14,000 for the first time since 2007 and only the 10th tenth time in history.

YUCAIPA, Calif. (AP) -- A company linked to yesterday's deadly tour bus crash in Southern California failed more than a third of federal vehicle safety inspections in the last two years. U.S. government records show that buses operated by the California company (Scapadas Magicas) flunked 36 percent of random inspections. The company had an overall "satisfactory" rating from the Federal Motor Carrier Safety Administration, but records show three-quarters of similar companies had better safety records.

WASHINGTON (AP) -- A U.S. business group is voicing concern over market access barriers in China, which it says likely contributed to a drop in foreign investment there last year. The U.S.-China Business Council says in a recent survey of its 230 member companies, nearly 10 percent of respondents reported that they had stopped or delayed a planned investment in China because of foreign ownership restrictions.

TORONTO (AP) -- Canada has begun phasing out its penny, as production costs have come to exceed its monetary value. The Royal Canadian Mint today officially ended its distribution of one-cent coins to financial institutions. While people may still use pennies, the government has issued guidelines urging store owners to start rounding prices to the nearest nickel for cash transactions. Electronic purchases will still be billed to the nearest cent.

NEW YORK (AP) -- The Nielsen company says the Baltimore Ravens' victory over the San Francisco 49ers has set a record for highest overnight ratings in Super Bowl history. The game scored a 48.1 rating and 71 share in its select measurement of big cities, meaning 71 percent of TVs that were on at the time were tuned to the Super Bowl. The Super Bowl has set a record for most-watched event in U.S. television history in each of the past three years.


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