Daily business briefing: Tech companies drag down stocks at opening bell

July 26, 2013 

Stocks on Wall Street opened lower than the day before with signs of more weakness from technology companies. The Dow Jones industrial average fell 75 points, or 0.5 percent, in the first few minutes of trading Friday morning. ...

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Apple's share of the global smartphone market fell during the second quarter to its lowest level in four years. The company took 13.1 percent of the worldwide market, according to ABI Research, down from 16.6 percent a year ago. That's the lowest level since the third quarter of 2009. ...

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Oil prices were falling Friday back toward $104 a barrel. The decrease follows recent gains and comes as concerns over China's decision to press ahead with painful economic restructuring that offset upbeat U.S. economic news. ...

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French carmaker Renault is blaming a massive write-off on the value of its operations in Iran for its first-half earnings loss. The automaker said it took a $680 million charge to write off the entire value of its Iran operations. Read more at http://www.bnd.com/business.

-- Will Buss, BND business writer

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