UPI NewsTrack Business

Markets sputter to close out week

NEW YORK, Jan. 27 (UPI) -- Fourth-quarter economic growth of 2.8 percent announced by the U.S. Department of Commerce Friday failed to lift markets out of the doldrums.

By close of trading, the Dow Jones industrial average lost 74.17 points, 0.58 percent, to 12,660.46. The Standard & Poor's 500 index dropped 2.10 points, 0.16 percent, to 1,316.33. The tech-dominated Nasdaq composite index added 11.27 points, 0.4 percent, to 2,816.55.

On the New York Stock Exchange, 1,944 stocks advanced and 1,062 declined on a volume of 3.6 billion shares traded.

The benchmark 10-year treasury note rose 12/32 to yield 1.895 percent.

The euro rose to $1.322 from Thursday's $1.3109. Against the yen, the dollar fell to 76.84 yen from Thursday's 77.45 yen.

In Tokyo, the Nikkei 225 index lost 0.09 percent, 8.25, to 8,841.22.

In London, the FTSE 100 index shed 1.07 percent, 61.75, to 5,733.45.

Fitch Ratings drops 5 scores in eurozone

MADRID, Jan. 27 (UPI) -- Fitch Ratings said Friday it has lowered the credit scores for five countries in Europe, all members of the eurozone.

The downgrades included lowering Spain's rating from AA- to A and cutting Belgium from AA+ to AA. Italy was dropped from A+ to A-, while Slovenia's rating fell from AA- to A.

Cyprus' rating also was cut a notch, a slide from BBB to BBB-.

The Wall Street Journal reported the euro slipped quickly after the rating changes were announced, but it fought its way back to $1.3204.

A spokesman from the Spanish Ministry of Finance said, "The government is aware of the imbalances in the economy and that's why it's launched an ambitious program of structural reform that will be completed in the first quarter."

Fitch left France's AAA rating and Ireland's BBB+ rating intact, the Journal said.

Super Bowl TV deals likely to be scarce

WASHINGTON, Jan. 27 (UPI) -- U.S. shoppers hoping to find deals on big-screen TVs in time for the Super Bowl may have less success than in years past, industry analysts said.

Retailers probably won't have as many sets on hand compared with previous years, and deep price cuts will be harder find, they said.

Shoppers "will see a lot of advertising," Paul Gagnon of DisplaySearch told USA Today. "But I don't know that the deals (will) be especially stellar."

Analysts say the main reason is strong 2011 holiday TV sales, which contrasted to a year ago when stores had a surplus of unsold sets and cut prices in January to make room for arriving 2011 models.

"A lot of consumers took advantage of those spectacular Black Friday prices and bought sets that they might have waited a little longer on," Gagnon said.

Retailers will be discounting fewer older models and concentrate on selling coming 2012 models -- most with improved smart-TV apps and better picture quality -- at full price, he said.

Still, willing buyers eager to purchase a new TV before Super Bowl kickoff should be able to find something to their liking.

"It actually drives a lot of large-size TV sales traditionally, because everyone is thinking of inviting everyone over," John Schindler of TV manufacturer Vizio said.

Twitter sharpens tool for censorship

SAN FRANCISCO, Jan. 27 (UPI) -- Twitter, which is based in the United States, said items on its Web site can now be selectively censored by country, rather than only network-wide.

"As we continue to grow internationally, we will enter countries that have different ideas about the contours of freedom of expression," Twitter said in an online posting.

"Some differ so much from our ideas that we will not be able to exist there. Others are similar but, for historical or cultural reasons, restrict certain types of content, such as France or Germany, which ban pro-Nazi content," the company said.

Previously, Twitter could only censor content across the entire Web site, Twitter said Friday in its online blog.

Twitter said the capability to censor in specific countries had yet to be put to use.

"But if and when we are required to withhold a tweet in a specific country, we will attempt to let the user know and we will clearly mark when the content has been withheld," the blog posting said.