Market Minute: U.S. Steel Girds for Changes; Eli Lilly Goes to Court

U.S. Steel girds for big changes, and Eli Lilly faces a big court date. Those stocks and more are what's in business news Monday.

The Dow Jones industrial average (^DJI) suffered its worst weekly loss this year, tumbling more than 2 percent last week. The Standard & Poor's 500 index (^GPSC) also slid percent, and the Nasdaq composite index (^IXIC) fell 1.6 percent.

U.S. Steel (X) is shaking up its top management. The CEO is stepping down, replaced by the company's president. The chief operating officer is also being replaced. Last week U.S. Steel posted a quarterly loss, as the industry deals with declining prices.

A woman walks past a sign at the entrance to the Eli Lilly & Co. corporate headquarters in Indianapolis, Monday, Sept. 14, 2009. Seeking to cut costs and bring new drugs to market more quickly as its best-sellers go off-patent, drugmaker Eli Lilly & Co. said Monday it will eliminate 5,500 jobs over two years and reorganize into five business units. (AP Photo/AJ Mast)
AJ Mast/AP
An important patent dispute goes to court Monday. Eli Lilly & Co. (LLY) is defending a patent on its multibillion dollar lung cancer medicine. The Wall Street Journal reports this case could be pivotal to Lilly's future. It's seeking protection for the drug until at least 2022, but a loss would mean generic competition five years before that.

JPMorgan Chase (JPM) is reportedly the subject of a bribery probe by U.S. regulators. The New York Times reports that the banking giant hired the children of influential Chinese officials in order to win business contracts there. The Times notes that JPMorgan hasn't been accused of any wrongdoing, but a Securities and Exchange Commission filing does indicate that some of those employees may not have been qualified for their positions.

News Corp. (NWS) faces more trouble more than two years after officials in London began investigating the company's newspaper employees for illegally snooping on the voicemail messages of certain newsmakers. Now, reports say the company itself could face criminal charges related to the phone hacking scandal, as well as bribery charges.

And, what will the new iPhone offer? Well for one thing, a new color option. According to TechCrunch, Apple's (AAPL) iPhone 5S will be offered with a gold-tinted aluminum cover.

-Produced by Drew Trachtenberg.

Apps That Manage Your Money For You
See Gallery
Market Minute: U.S. Steel Girds for Changes; Eli Lilly Goes to Court

Mint made the Mac App Store's Best of 2012 list for a reason. This simple, clean app shows how much you are spending in each category of your budget by monitoring all of your transactions. We love signing in and getting a quick, dirty rundown of where our money has gone over the last week, and using their personalized budget tools to stay on track. We highly recommend adjusting your budgets for summer months. You might spend less on transportation when the weather is nice, and chances are you could use that extra cash to flesh out that restaurant tab, right?

Price: Free

Available for Apple and Android.

This is the all-in-one financial organizer. Manage all of your accounts, from credit cards to magazine subscriptions, in one place and even make custom accounts for your rent or cleaning service. Get reminders for bill payments, and monitor all of your travel reward points, too. You'll always know what you owe, how much money you have and can plan for upcoming bills and expenses without having to sift through tons of paperwork.

Price: Free

Available for Apple and Android devices.

If you want to isolate the expense tracker function of Mint in a super simple day-to-day app, then DailyCost is a great buy. A wide variety of categories lets users input all of their daily expenses. Holding your phone horizontally, you will be able to see graphs and statistics on your spending. The app also tracks your weekly and monthly spending by category and can be backed up to iCloud for Mac users, so you'll never lose your data.

Price: $1.99

Available for Apple only.

If you're a heavy traveler, Toshl is an excellent expense and budget tracker. It works with any currency and lets you separate your travel budget from your day-to-day expenses. It comes with all the trappings of a regular money management app, too, such as bill organizer and alerts, and can be synced across all your devices.

Price: Free

Available on Apple and Android devices.

Next time you organize a group activity, Tricount will split up the expenses for you. Create the expense report on your phone and organize by person, how much they owe, and then share via email so everyone knows their share. With options for expenses, balance, share, and configuration, the app does all of the math for you.

Price: Free

Available for Apple and Android devices.

Never miss a bill payment again. This app reminds you when your payments are due, and lets you pay on the spot from a bank account or credit card, or you can schedule a payment for the future. Connect all of your accounts to the encrypted app and then view them all in one place for easy access and payment options. You'll never overdraft or miss a payment again.

Price: Free

Available on Apple and Android devices.

Make and share payments with friends. This app uses the same technology to pay as LivingSocial, Uber and Airbnb. Pay with your debit card or transfer funds from a linked bank account, right to a friend's Venmo account. It is Verisign Certified.

Price: Free

Available on Apple and Android devices.

Read Full Story


NASDAQ 6,992.67 -174.01 -2.43%
S&P 500 2,588.26 -55.43 -2.10%
DJIA 23,533.20 -424.69 -1.77%
NIKKEI 225 20,617.86 -974.13 -4.51%
HANG SENG 30,309.29 -761.76 -2.45%
DAX 11,886.31 -213.77 -1.77%
USD (per EUR) 1.24 0.00 0.28%
USD (per CHF) 0.95 0.00 0.03%
JPY (per USD) 104.73 0.02 0.01%
GBP (per USD) 1.41 0.00 0.00%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.