Comment
0
Tweet
0
Print
RSS Feeds

Stocks mixed...House expected to hold Lerner in contempt...NBC gets record Olympic deal

Wednesday - 5/7/2014, 3:20pm  ET

NEW YORK (AP) -- Stocks are mixed in afternoon trading on Wall Street, with the Dow rising, the Nasdaq falling and the S&P 500 about flat. Internet companies are falling for the second straight day. AOL dropped 22 percent after its earnings fell far short of expectations.

WASHINGTON (AP) -- The House is preparing to vote on holding a former Internal Revenue Service official in contempt of Congress for refusing to testify at a pair of committee hearings. Lois Lerner directed the IRS division that processes applications for tax-exempt status. A year ago, she publicly disclosed that agents had improperly singled out tea party applications for extra scrutiny. The measure is expected to pass the Republican-controlled House, sending the matter to the local U.S. attorney.

WASHINGTON (AP) -- Top health insurance companies have told members of Congress that more than 80 percent of people who've signed up under the new health care law have gone on to pay their premiums. That's a necessary step for the enrollment figures touted by the Obama administration to hold up. Democrats seized on the figures disclosed at a House hearing as the latest sign that the health care law has defied its critics and is working.

LAUSANNE, Switzerland (AP) -- NBC has secured the U.S. broadcast rights to the Olympics through 2032 in a record six-games deal worth $7.75 billion. NBC already holds the rights through the 2020 Olympics in a four-games deal signed in 2011 for $4.38 billion. The deal announced today followed secret negotiations between the International Olympic Committee and NBC. There was no auction or open bidding this time, with only NBC making an offer.

NEW YORK (AP) -- Jet magazine is ceasing regular print publication and transforming into a digital magazine app. Johnson Publishing Co., which also owns Ebony magazine, says the switch will occur at the end of June. The Chicago-based company says the move is a proactive effort to adapt to the changing needs of its readers. Breaking news will be updated daily and the company will publish an annual special print edition.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.