Big week for Dow...Oil and gasoline prices fall...Payroll card issues

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Associated Press

Posted on September 14, 2013 at 3:02 PM

Updated Saturday, Sep 14 at 3:02 PM

NEW YORK (AP) — The Dow Jones industrial average has wrapped up its best week since January. The stock market got a lift yesterday from two economic reports. One showed inflation remained tame in August and the other said Americans spent more at stores last month. The Dow rose 75 points. The S&P 500 rose 4 ½. And the Nasdaq was up six points.

NEW YORK (AP) — The perceived likelihood that the U.S. will pursue a diplomatic solution to the Syrian crisis instead of a military one is depressing the price of oil. Benchmark crude for October delivery fell 39 cents to close at $108.21 a barrel yesterday in New York. Meanwhile, the average price for gasoline dropped another penny Friday to $3.54.

WASHINGTON (AP) — Federal regulators say companies can't require employees to receive their pay on debit cards, citing complaints from workers of high and unexpected fees on the cards. The Consumer Financial Protection Bureau is warning employers against using only so-called payroll cards. The agency says by law workers must be able to choose how they receive their pay.

WASHINGTON (AP) — The White House says low-income workers on union health plans aren't eligible for the same federal subsidies available to those who buy insurance in the new state health care marketplaces. The decision is a disappointment for labor unions. It came shortly after top union officials met with President Barack Obama yesterday to press their case that subsidies could be extended to the union-sponsored plans.

NEW BRAUNFELS, Texas (AP) — A major vendor of wheelchairs and motorized scooters is shutting down for good after a year of federal scrutiny over alleged Medicare and Medicaid fraud that led to a bankruptcy filing. The San Antonio Express-News cites a company statement in reporting The Scooter Store plans to phase out operations and furlough its remaining employees.

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