Money Minute: Crude Slips, Ford and More

BusinessMoney Minute: Crude Slips, Ford and MoreMoney Minute: Crude Slips, Ford and MoreThe Associated PressThe Labor Department says jobless claims fell by 5,000 last week, after surging 27,000 the previous week. But the small improvement wasn't enough to keep the four-week average from rising to 375,250. (June 19)[Notes:ANCHOR VOICE] AP Money MinuteThe Labor Department says jobless claims fell by 5,000 last week, after surging 27,000 the previous week. But the small improvement wasn't enough to keep the four-week average from rising to 375,250. The New York-based Conference Board meanwhile said its economic indicators - a measure of future economic activity rose one-tenth of a percent in May - another sign that higher fuel and food price are stifling the economy.------------------------------Bi llionaire investor Kirk Kerkorian's Tracinda Corp. has increased its stake in Ford Motor Co. to six and a half percent. With the increase,Tracinda now owns close to 141 million Ford shares.Tracinda says it it may propose business strategies for Ford as well as provide a capital infusion to aid the automaker's turnaround effort.------------------------------Oil prices dropped sharply after China said it will raise fuel prices, a move that could dampen the booming Asian nation's oil consumption. Prices also were given a downward push by the Iraqi Oil Ministry's announcement that it is close to signing deals with several major Western oil companies in an effort to boost output. Light, sweet crude for July delivery fell $4.75 to settle at $131.93 a barrel on the New York Mercantile Exchange.I'm James Limbach with AP Money Minute(****END****)