Business Highlights

Published on NewsOK Modified: August 25, 2014 at 4:58 pm •  Published: August 25, 2014
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The deal is the latest example of Amazon expanding into new commercial arenas. It introduced its own smartphone, the Fire, this month. Earlier this summer, it added same-day delivery, a set-top video streaming device to its list of services for members of Prime, its $99 annual loyalty program.

Amazon already has an in-house gaming studio that makes games, and its Fire TV set top box was designed to attract gamers.

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Sales of US new homes fall in July

WASHINGTON (AP) — Fewer Americans bought new homes in July, evidence that the housing sector is struggling to gain traction more than five years into the economic recovery.

The Commerce Department said Monday that new-home sales fell 2.4 percent last month to a seasonally adjusted annual rate of 412,000. The report also revised up the June sales rate to 422,000 from 406,000.

Inventory of new homes on the market rose to six months, a level last reached in October 2011. The median price of a new home last month was $269,800, up 2.9 percent over the past 12 months.

But the steady rebound in construction coming out of the Great Recession has stalled.

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Talk of ECB action grows as European economy fades

FRANKFURT, Germany (AP) — Worries about the economy are rippling through Europe.

Downbeat data have pushed the European Central Bank closer to more drastic action to keep the hesitant recovery from stalling completely.

Meanwhile, open feuding in the French government about how to break out of economic stagnation saw President Francois Hollande dissolve the cabinet and order Prime Minister Manuel Valls to form a new team.

Concerns had grown so strong that by Monday investors were willing to bet that the ECB will intervene with new stimulus measures, based on comments late Friday by bank President Mario Draghi. Stocks in Europe rallied.

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Cops called after fliers fight over seat recline

NEW YORK (AP) — Airline passengers have come to expect a tiny escape from the confined space of today's packed planes: the ability to recline their seat a few inches. When one passenger was denied that bit of personal space Sunday, it led to a heated argument and the unscheduled landing of their plane, just halfway to its destination.

The fight started on a United Airlines flight because one passenger was using the Knee Defender, a $21.95 gadget that attaches to a passenger's tray table and prevents the person in front of them from reclining.

The Federal Aviation Administration leaves it up to individual airlines to set rules about the device. United Airlines said it prohibits use of the device, like all major U.S. airlines.

The dispute on United Flight 1462 from Newark, New Jersey to Denver escalated to the point where the airline decided to divert to Chicago's O'Hare International Airport, according to Transportation Security Administration spokesman Ross Feinstein.

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By The Associated Press=

The Dow Jones industrial average rose 75.65 points, or 0.4 percent, to 17,076.87. The S&P 500 added 9.52 points, or 0.5 percent, to close at 1,997.92. The Nasdaq composite gained 18.80 points, or 0.4 percent, to 4,557.35.

Benchmark U.S. crude slipped 30 cents to close at $93.35 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 36 cents to close at $102.65 on the ICE Futures exchange in London. Wholesale gasoline rose 0.7 cent to close at $2.595 a gallon. Natural gas rose 9.7 cents to close at $3.937 per 1,000 cubic feet. Heating oil rose 0.7 cent to close at $2.842 a gallon.