- - Monday, December 31, 2012

NEW YORK — Stocks rallied in the final hours of trading for the year as a budget deal appeared to be taking shape in Washington.

The Dow Jones industrial average jumped 166 to end at 13,104 Monday. It had waffled through much of the morning, then shot higher at midday after news began to emerge that negotiators were homing in on a deal.

The Dow is coming off five straight days of losses. For the year, it gained 7 percent.

The Standard & Poor’s 500 index rose 23 to end the year at 1,426. That’s a gain of 13 percent for the year.

The Nasdaq composite rose 59 to 3,019.

HEALTH CARE

Judge halts contraceptive mandate for Michigan firm

DETROIT — A federal judge has ruled that a property-management company owned by the founder of Domino’s Pizza doesn’t have to immediately implement mandatory contraception coverage in the health care law.

U.S. District Judge Lawrence P. Zatkoff ruled Sunday in favor of Tom Monaghan and his Domino’s Farms Corp. near Ann Arbor. Mr. Monaghan, a devout Roman Catholic, says contraception isn’t health care but a “gravely immoral” practice.

Judge Zatkoff granted Mr. Monaghan’s emergency motion for a temporary restraining order until a final decision is made in the case. The mandate would have taken effect Tuesday.

The government says the contraception mandate benefits women’s health and removes financial barriers. About a dozen similar lawsuits are pending nationwide.

MEDIA

New owners bring Tribune out of 4-year-long Chapter 11

CHICAGO — Tribune Co. emerged from a Chapter 11 restructuring Monday, more than four years after the media company sought bankruptcy protection.

The reorganized company is starting with a new board of directors and new ownership that includes senior creditors Oaktree Capital Management, Angelo, Gordon & Co., and JPMorgan Chase & Co.

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