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Stocks on losing streak...Appeals court sides with employers on arbitration...UnitedHealth hit

Tuesday - 12/3/2013, 6:38pm  ET

NEW YORK (AP) -- Stocks are now on a three-session losing streak. The Dow lost 94 points to 15,914 today, while the S&P 500 fell nearly six points to 1,795, and the Nasdaq fell 8 to 4,037. Shares of Ford and General Motors fell around 3 percent despite generally good sales reports for November.

WASHINGTON (AP) -- A federal appeals court has ruled that employers can require their workers to sign arbitration agreements waiving all rights to class action lawsuits over workplace grievances. The ruling overturns a National Labor Relations Board decision last year that found that such agreements conflict with federal law giving workers the right to pursue collective action. It comes as a victory for businesses looking to limit legal exposure from class action lawsuits over unpaid overtime and other wage violations.

UNDATED (AP) -- UnitedHealth Group is the latest company to detail the hit its business will absorb from the health care overhaul. The nation's largest health insurer says it expects to pay as much as $1.9 billion in taxes and fees imposed by the law next year and absorb a funding cut for a key product, Medicare Advantage plans, which are privately run versions of the government's Medicare program for the elderly and disabled people. All told, UnitedHealth expects the overhaul to take a $1.1 billion bite out of its after-tax operating earnings in 2014.

WASHINGTON (AP) -- Genetic testing company 23andMe is facing a class action lawsuit. The suit alleges that the Silicon Valley startup misled customers with advertising for its personalized DNA test kit. The $99 test is marketed as a tool to help users predict their risk of developing various diseases. The lawsuit comes days after the Food and Drug Administration ordered 23andMe to halt sales of its personalized test, saying the company has failed to show that the technology is supported by science.

WASHINGTON (AP) -- The Supreme Court is indicating it won't offer much help to frequent flyers who want to sue when airlines revoke their miles or their memberships. The justices today heard the case of a Minnesota rabbi who was stripped of his top-level Platinum Elite status in Northwest's WorldPerks program because the airline said he complained too much. Most justices signaled they think a ruling for Ginsberg could lead to state-by-state rules that deregulation was intended to prevent.


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