NEW YORK (AP) — The stock market is holding steady. Word of renewed fighting in Ukraine rattled markets early Friday but by the end of day, the S&P 500 was back to where it started as investors realized that a wider conflict wasn’t underway. The S&P 500 ended up losing a fraction of a point. The Dow dropped 51 points and the Nasdaq gained 12. The price of oil ended the day higher. Benchmark U.S. crude rose $1.77 to $97.35 a barrel in New York.
CAMBRIDGE, Mass. (AP) — Biogen Idec says federal regulators have approved the specialty drugmaker’s new treatment for people with relapsing forms of multiple sclerosis. The company says the Food and Drug Administration cleared the injectable drug, dubbed Plegridy, after reviewing results from a study that involved more than 1,500 people with the disease.
PALO ALTO, Calif. (AP) — Electric car maker Tesla Motors says it has extended the drive-unit warranty for its Model S sedan to make it good for eight years and unlimited miles. The drive-unit warranty, now matching that for the battery pack, will apply retroactively. CEO Elon Musk says the move reflects the company’s belief that electric motors are more reliable than gasoline engines.
NEW YORK (AP) — An investor group representing rival bidders is asking shareholders of Chiquita Brands to vote against the banana company’s proposed combination with Irish produce distributor Fyffes. The group, Cavendish Global, was formed by the investment firm Safra Group and Brazil’s Cutrale Group. Chiquita rejected a $611 million buyout offer from Safra-Cutrale on Thursday.
LOS ANGELES (AP) — A federal grand jury has charged a Chinese businessman with a computer hacking scheme to steal information on military projects, including fighter jets, to sell to Chinese companies. City News Service in Los Angeles says Su Bin was indicted Thursday on charges of conspiracy and unauthorized computer access. He faces up to 30 years in prison if convicted.
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