BUSINESS BRIEFS
Stocks climbed again Friday as investors waited for President Donald Trump and President Xi Jinping of China to meet and discuss trade, a meeting they hope will start to resolve the nations’ trade dispute. The U.S. market jumped this week after falling to a sixmonth low the week before.
Technology and health care companies made the largest gains Friday. Energy companies slipped as U.S. crude oil fell again, and briefly traded under $50 a barrel. The price of crude oil dropped 22 percent in November, its worst month in a decade. Hotel operator Marriott tumbled after it announced a data breach that could affect 500 million guests.
The S&P 500 index gained 22.40 points, or 0.8 percent, to 2,760.16. The Dow Jones Industrial Average rose 199.62 points, or 0.8 percent, to 25,538.46. The Nasdaq composite jumped 57.45 points, or 0.8 percent, to 7,330.54. The Russell 2000 index of smaller-company stocks added 7.88 points, or 0.5 percent, to 1,533.27.
Trump administration OKs seismic surveys for Atlantic drilling
The Trump administration is authorizing use of seismic air guns to find oil and gas formations deep underneath the Atlantic Ocean floor, prompting outrage from critics who say the practice can disturb or injure whales, sea turtles and other marine life.
The National Marine Fisheries Service says it has authorized permits under the Marine Mammal Protection Act for five companies to use air guns for seismic surveys in the mid-Atlantic, from Delaware to central Florida.
The surveys are part of President Donald Trump’s bid to expand offshore drilling in the Atlantic. The plan has drawn opposition from East Coast lawmakers and governors, who say it could hurt commercial fishing and tourism.
Seismic surveys have not been conducted in the region for at least 30 years.
Honeywell moving headquarters, 750 jobs to North Carolina
Industrial conglomerate Honeywell International Inc. will move its headquarters from New Jersey and establish 750 jobs in Charlotte, North Carolina, the company said Friday.
Honeywell plans to relocate its base in Morris Plains, New Jersey, with about 150 to 200 senior managers as well as its Safety and Productivity Solutions business group headquarters moving to Charlotte.
The company then expects to add positions in Charlotte, building to about 750 jobs within six years.
About 1,000 employees will remain at six Honeywell locations in in New Jersey, including about 800 at the company’s Morris Plains offices.
Russian hackers use Brexit in phishing email, experts warn
Cybersecurity experts at consulting firm Accenture are warning that Russian hackers are using interest in Brexit as a lure in their latest phishing emails.
The company’s security division issued an advisory Thursday about a Brexit-themed document intended to deliver malware to targets.
Accenture said the Microsoft Word file started circulating the same day this month that the British government agreed on a draft of its agreement to leave the European Union.
The document had Brexit in its file name but contained garbled text used to trick users into activating a macro command to load malicious content.
Accenture said it appears the cyberattackers were Russian based on software used in previous hacking attempts.
Mine expansion advances in Montana amid owner’s bankruptcy
A major coal mine expansion in southeastern Montana received a preliminary green light from state and federal officials on Friday even as the mine’s owner remains tied up in bankruptcy proceedings with plans to sell the property.
Officials released an 800-page environmental study of Westmoreland Coal Co.’s expansion of the Rosebud Mine that clears the way for a final decision in coming months.
Colorado-based Westmoreland declared bankruptcy in October with more than $1.4 billion in debt amid declining demand for the heavily polluting fuel.