A spike in gas prices drove a measure of U.S. consumer costs up in February by the most in more than three years. The consumer price index increased a seasonally adjusted 0.7 percent last month, the Labor Department said Friday.
Stocks close lower
U.S. stock markets fell, ending the longest winning streak for the Dow Jones industrial average in almost 17 years. The Dow had a 10-day winning streak through Thursday, daily adding to its record level.
Factory output rises
A strong increase in auto output boosted U.S. factory production last month, the latest sign that manufacturing is helping drive economic growth after lagging for much of 2012. Factory output rose a seasonally adjusted 0.8 percent in February from January, after falling 0.3 percent in the previous month, the Federal Reserve said.
Mass. gambling ship
While the state gambling commission wrestles with where to put casinos on land, a floating casino is expected to be sailing out of Lynn as early as May. Lynn native James Walsh says he is bringing the 225-foot Aquasino to the city to make twice daily excursions to federal waters where gambling is permitted.
Oil up; gasoline down
The price of oil rose 42 cents to end the week at $93.45 per barrel. At the pump, the average price for gasoline dipped to $3.695 a gallon. That’s about 12 cents cheaper than a year ago.
Europe banks fragile
Europe’s banks are still fragile and the European Union has a way to go to make them stable, the International Monetary Fund said in its first assessment of the continent’s financial sector. Despite the progress made by the EU to repair its financial system, several challenges remain: Banks are still struggling to get the loans they need to fund everyday operations; investors are still wary of European countries’ debt and growth is stagnant on much of the continent.
787 battery fix near
Boeing said that it expects to finish testing its battery fix for the 787 within two weeks. Then it will be up to the Federal Aviation Administration to decide when the planes fly again.
$600M insider settlement
Hedge fund CR Intrinsic Investors will pay more than $600 million in what federal regulators are calling the largest insider trading settlement ever. The Securities and Exchange Commission charged the firm with insider trading in 2012.
Three and a half years into its government-debt crisis, there are signs that Europe is adopting a gentler approach toward austerity. Political leaders aren’t backing away aggressively from budget cuts and higher taxes, but they are increasingly trying to temper those policies, which have stifled growth and made it harder for many countries to bring their deficits under control.
Plan for Hulu near
Disney and News Corp. are ‘finalizing’ their future plans for Hulu as the online video streaming service prepares for the departure of CEO Jason Kilar.
The plans under consideration by the companies including putting Hulu back up for sale. Its owners tried to sell Hulu before but decided against it in 2011 following months of entertaining outside offers.