Investors wary about spike in oil, slide in dollar
NEW YORK — Wall Street finished essentially flat Wednesday, with investors confident that the Federal Reserve will lower interest rates next week.
But they also were cautious, as crude oil spiked above $80 a barrel, the highest it's ever been in intraday trading, and the dollar continued to fall against the euro, feeding concerns about inflation.
The Dow Jones industrial average fell 16.74, or 0.13 percent, to 13,291.65.
Broader stock indexes were narrowly mixed. The Standard & Poor's 500 index rose 0.07, or less than 0.01 percent, to 1,471.56, and the Nasdaq composite index fell 5.40, or 0.21 percent, to 2,592.07.
Burger King rolling out new, healthier Kids Meal
MIAMI — Burger King pledged Wednesday to offer healthier fast-food items for kids under 12, with plans to sell flame-broiled Chicken Tenders and apples cut to resemble thick-cut french fries.
The fast-food chain said it has set nutritional guidelines to follow when targeting children under 12 in advertising.
In that vein, Burger King is building a Kids Meal with flame-broiled Tenders, organic unsweetened applesauce and low-fat milk, for a total of 305 calories and 8.5 grams of fat. It will be available in 2008, the company said.
Mattel will test toys from China, CEO tells senators
WASHINGTON — Acknowledging "we are by no means perfect," Mattel Inc. CEO Robert Eckert said Wednesday that the company could have done a better job overseeing contractors in China that produced more than 21 million recalled toys.
Eckert told a Senate subcommittee that the company would now test the safety of Chinese-made products with its own laboratories or with labs certified by the company. He disputed reports that warnings about the recalled products were delayed because of disagreements with regulators or that Mattel might be motivated by savings at the expense of safety when it chose to do business in China.
Old-style TVs with cable safe until 2012, FCC says
WASHINGTON — The Federal Communications Commission has approved rules that it says ensures that millions of cable subscribers will still be able to watch broadcast programming after the digital television transition in 2009.
The FCC said about 40 million households are analog-only subscribers. The ruling will require cable operators to guarantee analog customers will receive broadcast channels until 2012.