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NEW YORK (AP) — Investors are continuing to sell the safe assets they favored earlier this year. That led to small losses in stocks on Friday. The Dow shed 45 points, or 0.2 percent, to 18,552. The S&P 500 fell 3 points, or 0.1 percent, to 2,183. The Nasdaq composite lost nearly 2 points, or less than 0.1 percent, to 5,238.
NEW YORK (AP) — Oil prices are continuing their upward trend, but with an enormous glut of oil on the market, they may not rise much further. Benchmark U.S. crude rose 30 cents to $48.52 a barrel in New York yesterday. U.S. oil has climbed 17 percent in its seven-day streak, but prices have stayed between $40 and $50 a barrel for about four months. Brent crude, used to price international oils, lost 1 cent to $50.88 a barrel in London.
NEW YORK (AP) — The National Highway Traffic Safety Administration says Hyundai and Mitsubishi are recalling some cars for problems that could increase the risk of crashes. Hyundai is recalling 2013 models of the Elantra because the brake pedal stopper pad can deteriorate, which could cause the transmission to shift out of park without applying the brake pedal. And Mitsubishi is recalling 2015-2016 models of the Outlander Sport and 2016 models of the Outlander and the Lancer for a problem that can delay acceleration in certain driving conditions.
SAN FRANCISCO (AP) — The messy legal battle over Sumner Redstone's media empire appears to have come to an end. According to an internal memo, Viacom CEO Philippe Dauman will step down, making Chief Operating Officer Tom Dooley interim CEO. The move is part of a settlement the Viacom board approved with National Amusements, a private company owned by the 93-year-old Redstone that holds controlling stakes in both Viacom and CBS.
HARTFORD, Conn. (AP) — A former Travelers Group chief executive who became a national advocate for Lou Gehrig's disease research after being diagnosed with the terminal neurodegenerative disease died Friday at his home in New Jersey. Jay Fishman was 63. Fishman became CEO of Travelers' predecessor company in 1998 and assumed the same title after the merger of The St. Paul Cos. with Travelers Property Casualty Corp. in 2004.
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