Saturday BusinessMinute

NEW YORK (AP) — The S&P managed to close out its first winning week in the last five. The S&P rose 49.98 points, or 1.5% for the week, and is up 3.6% for the year. The Dow rose 508.85 points, or 1.9% last week and is up 3% for the year. The Nasdaq rose 161.45 points, or 1.5% for the week and the Nasdaq is up 23.4% for the year.

WASHINGTON (AP) — The latest effort by House Democrats to give more aid to the nation’s troubled airlines has failed. House Democrats accused Republicans of blocking consideration of a bill that would give the airlines and their contractors up to $28.8 billion to avoid furloughs for six more months. The move comes after American and United began laying off 32,000 workers. House Speaker Nancy Pelosi says she wants the airlines to delay those furloughs while Congress works on providing aid. Airlines are slashing costs to survive a pandemic that has devastated air travel. The number of people getting on planes in the U.S. is down nearly 70% from a year ago.

NEW YORK (AP) — President Donald Trump’s son Eric is scheduled to speak via video on Monday with New York state investigators probing his family’s business practices. That’s according to court papers filed Friday. Eric Trump has given no indication he will seek to delay the interview in light of his father’s and stepmother’s recent coronavirus diagnosis or for any other reasons. A White House doctor said Friday that the other members of the first family had tested negative for the virus. New York Attorney General Letitia James is investigating whether the Trump Organization lied about the value of its assets in order to get loans or tax benefits.

COLUMBUS, Ohio (AP) — A judge has ruled that efforts by Ohio’s attorney general to block an energy company and its affiliated entities from donating to lawmakers is an infringement of First Amendment rights. A Franklin County judge denied Attorney General Dave Yost’s attempt to stop campaign contributions to Ohio lawmakers from First Energy while the House is considering a repeal of a $1.3 billion bailout of two nuclear plants formerly owned by the company’s subsidiary. The lawsuit sought to freeze the assets of former House Speaker Larry Householder’s $1 million campaign fund and dissolve the dark money groups involved in the bribery scheme.

PAMPLICO, S.C. (AP) — Some residents in South Carolina are worried about losing portions of their land to a proposed natural gas pipeline. The 14.5-mile pipeline being proposed by Virginia-based utility giant Dominion Energy would traverse parts of 65 pieces of private property. The utility cites increased energy needs spurred by economic growth in southeastern South Carolina as the impetus for the project. The company has said the pipeline could help attract and grow businesses, adding jobs and possibly lowering energy costs for residents. But some landowners don’t want to sell and are preparing to defend against attempts to take the properties by eminent domain.