Bloomberg Business Report: Stocks suffer blow after Boston Marathon bombing

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by Bloomberg

Bloomberg

Posted on April 16, 2013 at 7:30 AM

We'll see if stocks can bounce back or not this morning after taking a hit as the Boston Marathon tragedy unfolded. Stocks yesterday suffering their biggest one-day decline since November with energy and raw material shares falling the most. Slower-than-expected economic growth in China is also a factor.

The IRS in the meantime is announcing it is giving Boston-area taxpayers more time to finish their tax returns. Extensions, according to the Associated Press, are being given on filing and on payments.

American Airlines is taking a big step toward exiting bankruptcy. The carrier's parent is filing a plan to exit Chapter 11 protection as it moves closer to an official merger with U.S. Airways.

In the meantime Carnival Corp. is agreeing to reimburse the U.S. for costs related to the breakdowns of its Triumph and Splendor cruise ships. Senator Jay Rockefeller is among those who've been pressuring Carnival to foot the bill. The cruise line calls the payments "voluntary."

And how much does it cost to own a car? AAA says the average owner of a sedan has to shell out more than $9,000 a year to own and operate a sedan. Almost $10,000 for a minivan, and more than $11,000 for a 4-wheel drive SUV. Maintenance costs are up more than 11 percent this year, as prices for parts, labor and extended warranties increased.

 

 

 

 

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