Stock market's weekly drop
is its worst in seven years
Another day of big losses Friday left the U.S. stock market with its worst weekly drop in more than seven years.
The benchmark S&P 500 index ended a brutal week down 7 percent Friday, led by big drops in former market favorites like Facebook and Amazon.
Major U.S. indexes are now 16 to 26 percent below the peaks they reached in the summer and early fall.
The S&P 500 fell 50 points, or 2.1 percent, to 2,416.
The Dow Jones Industrial Average fell 414 points, or 1.8 percent, 22,445. The Nasdaq fell 195 points, or 3 percent, to 6,332.
Diebold Nixdorf's road map
comed under attack by investor
A European investment company is demanding information from Diebold Nixdorf after attacking the company's turnaround plans and executive compensation, The Canton Repository reported.
Krupa Global Investments, based in the Czech Republic, aired its demands and complaints in an open letter this week to management. Meanwhile, New York-based GAMCO Investors is recommending three candidates for seats on Diebold Nixdorf's board of directors.
Diebold Nixdorf can't comment on Krupa Global's demands until after year-end financial results are released in February. The company will issue a private response to the investment firm, a spokesman said.
Diebold Nixdorf's stock has been trading at less than $3 per share in recent weeks. Shares closed Friday at $2.51 on Friday, down 19 cents.
Ohio's jobless rate steady
for fifth month in a row
Ohio’s unemployment rate held steady for the fifth straight month at 4.6 percent with employers adding 5,200 jobs in November, state employment figures released Friday show.
The number of unemployed workers fell by 3,000 to 263,000 last month, The Columbus Dispatch reported.
The professional and business services sector added 2,800 jobs last month, the most of any sector. The private education and health care sector added 1,700 jobs and manufacturing added 1,400 jobs.
Employment dropped slightly in several sectors, including a loss of 600 government jobs and losses of 400 jobs each in finance and the leisure and hospitality sector.
Many air bag inflators
still in use despite recalls
More than three years after the government took over management of recalls involving dangerous Takata air bag inflators, one third of the recalled inflators still have not been replaced.
That's according to an annual report on the recalls released late Friday by the government and a court-appointed recall monitor.
The report by monitor John Buretta touts progress made this year by 19 automakers involved in the recalls, but it says 16.7 million faulty inflators out of 50 million under recall have yet to be replaced. And 10 million more inflators are scheduled to be recalled in January.