The Dow Jones Industrial average fell 66.79 points to close at 15,334.59 Tuesday. The Standard & Poor’s 500 index fell 4.42 points to 1,697.42. The NASDAQ composite edged up 2.97 points to 3,768.25.
CONSUMER CONFIDENCE DIPS AS JOBS OUTLOOK DIMS
Americans’ confidence in the economy fell slightly in September from August, as many became less optimistic about hiring and pay increases over the next six months. The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index dropped to 79.7 in September. That’s down from August’s reading of 81.8, which was slightly higher than previously estimated.
Consumers’ confidence is closely watched because their spending accounts for 70% of economic activity. The September reading was only slightly below June’s reading of 82.1, the highest in 5 1/2 years. While confidence has bounced back from the depths of the Great Recession, it has yet to regain a reading of 90 that typically coincides with a healthy economy.
TPD CONSIDERING EQUIPPING OFFICERS WITH MINIATURE CAMERAS
Tucson Police Department is considering equipping its officers with small cameras that can be worn on the chest or behind the ear. The cameras, which have already been tested by a few officers during a pilot program, will create an audiovisual record of conversations, witness statements and other events. "During the pilot program what we discovered was the technology is very promising for the future," says Assistant Chief John Leavitt.
REID PARK ELEPHANT EXPECTING
The City's Reid Park Zoo is pleased to announce that Litsemba (nickname Semba), a 24 year old African elephant, is pregnant. Breeding behavior was observed between Semba and the Zoos bull Mabu in October, and the pregnancy was recently confirmed by urinary hormonal analysis. Semba will give birth sometime between late June and August of 2014. Elephants have a 22-23 month gestation period.
AIRPORT ADOPTS SMALLER BUDGET, REDUCES CHARGES TO AIRLINES
The board of the Tucson Airport Authority (TAA) has adopted a $59.4 million operating and capital budget for the 2014 fiscal year starting Oct. 1, a $9 million decrease from fiscal 2013. The decrease is mainly due to a smaller capital-improvement program, which is funded mainly by federal grants and fluctuates yearly, according to officials. But total revenue also is expected to decline, by 5.6%, not including estimated airline landing fees, as passenger levels are expected to drop 5 percent from 2013 due to reduced seating capacity. The budget includes a reduction in landing fees, to $1.21 per 1,000 pounds of landed weight from $1.31 currently, one of the lowest in the nation for comparable-sized airports. "Keeping airline costs down encourages the lowest ticket prices possible for our customers and shows the airlines that Tucson International Airport is a good place for them to do business," said TAA President and CEO Bonnie Allin,.
TWO MORE BUSINESSES TO OPEN NEW OFFICES DOWNTOWN
Two established businesses, both service providers to other businesses, have decided to open new offices downtown. BizAnytime, a software company that provides bundled, cloud-based services to make it easier to work remotely, is relocating this week from its foothills offices to 124 W. Cushing St. CyraCom International, Inc., a language services company, opened a business-development office in the Pioneer Building at 100 N. Stone Ave. Details of the leases were undisclosed.
BURGER KING LAUNCHES LOWER-CALORIE FRENCH FRY
Burger King wants people to feel less guilty about gobbling up its french fries. The world’s No. 2 hamburger chain launched a new crinkle-cut french fry on Tuesday that it says has about 20% fewer calories than its regular fries. The chain says a small order of the new “Satisfries” clocks in at 270 calories because of a new batter that doesn’t absorb as much oil. By comparison, a small order of its regular fries, without crinkles, has 340 calories.
FED CONCERNED ABOUT EARLY TRADING AFTER MEETING
The Federal Reserve is concerned about suspiciously heavy trading of gold futures after its meeting last week that may have been triggered by a premature release of market-sensitive information. In a statement, the central bank said Tuesday that news organizations that receive embargoed information from the Fed agree to withhold information until the time set for its release. The Fed statement said, “We will be conducting follow-up conversations with news organizations to ensure our procedures are completely understood.” Trading in financial markets is now dominated by automated computer systems, which make trades in tiny fractions of a second that can lead to millions of dollars in profit. Receiving the data early — even by a few milliseconds — can give an unfair advantage.
SOUTH KOREA REJECTS BOEING, SAYS F-15 JUST NOT GOOD ENOUGH
South Korea on Tuesday rejected Boeing’s bid to supply 60 fighter jets in the country’s largest-ever weapons purchase even though it was the sole bidder, and said it would reopen the tender. Boeing had offered its F-15 Silent Eagle, but South Korean critics said the warplane lacks state-of-the-art stealth capabilities and cannot effectively cope with North Korea’s increasing nuclear threats. Defence Ministry spokesman Kim Min-Seok said officials decided at a meeting Tuesday to delay naming a winning bidder for the $7.7 billion (USD) purchase, and would restart the bidding process.
TOP AIRLINES ACCORDING TO DOT
In June, Delta Air Lines carried more system passengers than any other U.S. airline. Southwest Airlines carried the most domestic passengers, while United Airlines carried the most international passengers. The top 10 U.S. airlines in terms of number of passengers carried 80.6% of systemwide passengers, up from 80% carried by the U.S. Airlines that were in the top 10 in June 2012.