216,000 JOBS ADDED IN NOVEM­BER

The Denver Post - - BUSINESS -

U.S. com­pa­nies added a solid 216,000 jobs in Novem­ber, the most since June. Pay­roll provider ADP said Wed­nes­day that nearly all the gains oc­curred in ser­vice sec­tors such as re­tail, ho­tels and restau­rants, as well as higher-pay­ing pro­fes­sional ser­vices. Con­struc­tion firms added 2,000 jobs, while man­u­fac­tur­ing shed 10,000. The fig­ures add to other re­cent signs that the econ­omy is ex­pand­ing at a de­cent pace.

Ni­valis shares plunge. Shares of Ni­valis Ther­a­peu­tics have lost al­most two-thirds of their value after the Boul­der phar­ma­ceu­ti­cal com­pany re­ported Mon­day that its drug cavoson­stat failed “to demon­strate ben­e­fit” in a re­cent trial. Shares plunged 54 per­cent Mon­day from a $6.25 open, fall­ing fur­ther Tues­day and again Wed­nes­day to close at $2.17.

“Dis­ap­point­ingly, there was no im­prove­ment in lung func­tion pro­vided by cavoson­stat,” CEO Jon Con­gle­ton said Mon­day af­ter­noon.

The 12-week trial that be­gan in May was to as­sess cavoson­stat’s abil­ity to change forced ex­hale vol­ume (FEV) in adult pa­tients with cys­tic fi­bro­sis and a dou­ble mu­ta­tion of a spe­cific gene. FEV is a mea­sure of how much air a per­son can ex­hale dur­ing a forced breath.

“The ab­sence of any clin­i­cal ef­fect in­di­cates that cavoson­stat isn’t a rel­e­vant drug for cys­tic fi­bro­sis,” RW Baird an­a­lyst Brian Sko­r­ney told Mar­ket­watch, while Stifel’s Thomas Shrader said the re­sults sug­gest “the ther­a­peu­tic premise may be dead.” Con­sumer spend­ing, in­comes up. U.S. con­sumers boosted their spend­ing again in Oc­to­ber, while their in­comes in­creased at the fastest clip in six months. A key gauge of in­fla­tion watched by the Fed­eral Re­serve posted the fastest 12-month gain in two years.

Con­sumer spend­ing in­creased 0.3 per­cent in Oc­to­ber after a re­vised 0.7 per­cent jump in Septem­ber, the Com­merce Department said Wed­nes­day. In­comes in­creased 0.6 per­cent, the best show­ing since April.

An in­fla­tion gauge closely fol­lowed by the Fed­eral Re­serve in­creased 1.4 per­cent com­pared to a year ago. That was the fastest 12-month ad­vance since 2014.

You don’t need in­ter­net ac­cess to binge on Net­flix. Net­flix sub­scribers

can now binge on many of their fa­vorite shows and movies even when they don’t have an in­ter­net con­nec­tion. The long-awaited off­line op­tion an­nounced Wed­nes­day gives Net­flix’s 87 mil­lion sub­scribers off­line ac­cess to videos for the first time in the stream­ing ser­vice’s decade-long his­tory.

Net­flix is match­ing a down­load­ing fea­ture that one of its big­gest ri­vals, Ama­zon.com, has been of­fer­ing to its video sub­scribers for the past year.

EPA to keep strict mileage stan­dards. The Obama ad­min­is­tra­tion

has de­cided not to change re­quire­ments that force au­tomak­ers to in­crease the ef­fi­ciency of new cars and trucks. The de­ci­sion fol­lows a manda­tory re­view of the stan­dards es­tab­lished in 2012, when gas av­er­aged $3.60 a gal­lon and small cars and hy­brids were gain­ing fa­vor.

The stan­dards had re­quired new cars to av­er­age 54.5 miles per gal­lon by 2025. But there was a built-in re­duc­tion if buy­ing habits changed — and they have. Now, as gas is av­er­ag­ing close to $2 a gal­lon, three of ev­ery five new ve­hi­cles sold in the U.S. are trucks and SUVs. As a re­sult, the 2025 fuel-econ­omy num­ber drops to 50.8 mph. Den­ver Post wire re­ports

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