Stocks barely budge as week closes with a loss
NEW YORK — Major stock indexes closed out their first weekly loss in a month in quiet trading Friday. The Standard & Poor’s 500 index dropped 0.91 to close at 1,649.60. The Dow Jones industrial average rose 8.60 to 15,303.
Both indexes had their first weekly losses since the week ending April 19. Concerns over the Federal Reserve curtailing its support for the economy and sharp falls in Asian markets rattled investors this week.
Some investors are concerned that the Fed will scale back its effort to support the economy sooner than they expected.
Procter & Gamble supported the Dow with an increase of 4 percent. It announced late Thursday that it is bringing back former CEO A.G. Lafley to run the company as it tries to increase sales in the face of tough competition.
The Nasdaq composite slipped 0.27 to 3,459.14.
Japan airline to resume 787 flights on Sunday
TOKYO — Japan’s All Nippon Airways, the launch customer for Boeing’s 787 Dreamliner, will resume commercial flights of the aircraft Sunday, just over four months after the jets were grounded because of malfunctioning batteries.
ANA said in a statement that it will run five commercial 787 flights in May, before regular, scheduled services begin on June 1.
The first will be a commercial flight late Sunday from Chitose, on the northern island of Hokkaido, to Tokyo’s Haneda Airport.
Smoldering batteries on two 787s, one of them owned by ANA, prompted authorities to ground the planes in January.
The failure of Boeing’s newest, flashiest and most important plane embarrassed the company and its customers.
ANA said it has modified all 17 of its 787 aircraft and conducted 170 proving flights.
Boeing assembles the 787 in North Charleston and in Everett, Wash.
Report: Yahoo among 7 firms bidding for Hulu
LOS ANGELES — A person with direct knowledge of Hulu said the video site is again up for sale, with Yahoo and pay TV operators DirecTV and Time Warner Cable among the seven bidders.
The person wasn’t authorized to speak publicly and spoke Friday on condition of anonymity, after several news outlets reported on the bidding.
The person didn’t offer details on the prices offered. Published reports have pegged a bid by a group led by former News Corp. executive Peter Chernin at $500 million.
The person said other bidders include private equity firm Kohlberg Kravis Roberts & Co.; private equity firm Silver Lake in partnership with talent agency William Morris Endeavor; and private equity firm Guggenheim Partners.
The Walt Disney Co. and News Corp. control Hulu.
Comcast is a silent investor.
Delta ups ante in battle for N.Y.’s travel market
NEW YORK — Delta Air Lines opened a $1.4 billion terminal at John F. Kennedy International Airport on Friday, strengthening its hand in the battle for the lucrative New York travel market.
The expanded concourse offers sweeping views of the airport, upscale food and shopping options and increased seating.
It replaces a decrepit terminal built by Pan Am in 1960 that was an embarrassing way to welcome millions of visitors to the United States.
Delta CEO Richard Anderson said his customers “and the residents of New York now have the international hub facility that they expect and deserve.”
The concourse houses local restaurant favorites like Blue Smoke and Shake Shack, and 75 percent of seats at the gates have access to electric outlets.
Delta is Charleston International’s biggest carrier. It does not directly serve JFK from the local airport.
Staff and wire reports
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