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TMCNet:  AP Business NewsBrief at 4:22 a.m. EST

[January 04, 2013]

AP Business NewsBrief at 4:22 a.m. EST

(Associated Press Via Acquire Media NewsEdge) Steady US hiring expected last month despite cliffWASHINGTON (AP) _ U.S. employers likely kept hiring last month at a modest but steady pace, despite tense negotiations that pushed the economy to the brink of the fiscal cliff. Economists forecast that employers added 155,000 jobs in December, according to a survey by FactSet. That would be slightly higher than November's 148,000. The unemployment rate is projected to remain at 7.7 percent.


Congress members seek investigation of Shell bargeANCHORAGE, Alaska (AP) _ Members of Congress are calling for an investigation of Royal Dutch Shell PLC's Arctic offshore drilling operations as salvagers develop plans to move a company drill ship off rocks near an Alaska island, where it ran aground in a fierce year end storm. Shell incident commander Sean Churchfield said Thursday that the first salvage crew on board the Kulluk, a 266-foot diameter barge with a 160-foot derrick, reported back with details that will be used to begin planning. He would not speculate on when a salvage report might be ready.

Google emerges from FTC probe relatively unscathedSAN FRANCISCO (AP) _ Google has settled a U.S. government probe into its business practices without making any major concessions on how the company runs its Internet search engine, the world's most influential gateway to digital information and commerce. Thursday's agreement with the Federal Trade Commission covers only some of the issues raised in a wide-ranging antitrust investigation that could have culminated in a regulatory crackdown that re-shapes Internet search, advertising and mobile computing.

German retail sales seen slipping in 2012BERLIN (AP) _ Germany's Federal Statistical Office is estimating that retail sales in the country, which has Europe's biggest economy, slipped by between 0.1 and 0.3 percent in 2012 compared with the previous year. The estimate released Friday was based on sales figures from January through November, adjusted for inflation and for the fact that December had two shopping days fewer than the same month in 2011.

China fines LG, Samsung in flat panel price caseBEIJING (AP) _ China on Friday joined a global crackdown on price-fixing by manufacturers of LCD screens used in computers and TVs, imposing multimillion-dollar fines on South Korea's Samsung and LG and four Taiwanese companies. Suppliers already have been hit by U.S. and European regulators with penalties totaling more than $3 billion for colluding to push up slumping prices of display screens in 2001-06, which raised costs for electronics manufacturers. U.S. courts have sentenced 12 executives to prison.

Japan's Nikkei soars; Other stock markets stallBANGKOK (AP) _ Japan's benchmark stock index soared on its first trading day of the new year Friday, as investors reacted to a weakening yen and Washington's temporary skirting of the so-called fiscal cliff. But other world markets stalled as enthusiasm faded over the last-minute budget deal reached in Washington to avoid steep, automatic tax increases and spending cuts that would have taken effect Tuesday. The measure, however, was largely seen as crisis avoidance _ and puts off hard decisions about how to reduce government spending and deal with America's massive debt.

Actor Dempsey: Coffee chain bid appears successfulSEATTLE (AP) _ Actor Patrick Dempsey says it appears his bid to buy a small coffee chain has prevailed in a bankruptcy auction that included Starbucks Corp. Late Thursday night, Dempsey told a KOMO-TV reporter in Seattle that his investment group appears to have the winning bid for Tully's Coffee. He noted that a bankruptcy judge will have the final say on Jan. 11. Still, Dempsey tweeted "We got it! Thank you Seattle!" Oil prices fall to near $92 a barrelBANGKOK (AP) _ Oil prices fell Friday as euphoria faded over a budget deal reached earlier this week by U.S. lawmakers and traders focused on signs of lackluster demand. Benchmark crude for February delivery fell 70 cents at late afternoon Bangkok time to $92.22 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 20 cents to $92.92 per barrel on the Nymex on Thursday.

Stocks fade after Fed discloses split on stimulusNEW YORK (AP) _ A two-day rally in the stock market came to an end Thursday afternoon when an account of the Federal Reserve's last meeting revealed a split between bank officials over how long the Fed should keep buying bonds to support the economy. The Dow Jones industrial average and the Standard & Poor's 500 index treaded water for much of the day, then slid into the red around 2 p.m. Eastern, after the Fed released the minutes from its December meeting.

Fiscal-cliff deal no recipe for a robust economyWASHINGTON (AP) _ Housing is rebounding. Families are shrinking debts. Europe has avoided a financial crackup. And the fiscal cliff deal has removed the most urgent threat to the U.S. economy. So why don't economists foresee stronger growth and hiring in 2013 (c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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