Business briefs: Eye doctor buys Bradenton strip mall

Eye doctor buys strip mall

BRADENTON -- Just one month after an affordable apartment complex along Saunders Road in Whitfield sold, a strip mall next door has gone to a buyer in a $1.15 million deal.

On June 5, a company controlled by a Bradenton eye doctor bought the Plantation Plaza mall. According to Manatee County property records, ELGEE Properties, which is managed by Liaquat Allarakhia, purchased the 28-year-old mall from its original developer, Old 301 Partners of Sarasota.

Built on more than an acre at 6320 15th St. E., the 13,000-square-foot mall is home to several businesses, including restaurants, a dentist's office and several retail stores.

U.S. stocks advance as Fed policy makers meet

NEW YORK -- U.S. stocks advanced Tuesday, with the Standard & Poor's 500 index rising above its average price during the past 100 days, as investors speculate the Federal Reserve won't rush to raise rates amid uncertainty over Greece's future in the euro.

Aetna and UnitedHealth rose more than 2.1 percent amid bets that the health-insurance industry is headed for a round of mergers. Monster Beverage jumped 4.2 percent to lead consumer staples higher. Oracle and Adobe Systems gained more than 1.3 percent. United Rentals fell 2.6 percent after an analyst downgrade, and airline shares declined for a second day.

The S&P 500 index climbed 0.6 percent to 2,096.29 at the close in New York, erasing Monday's slide. The Dow Jones industrial average added 113.31 points, or 0.6 percent, to 17,904.48. The Nasdaq composite index gained 0.5 percent. About 5.5 billion shares changed hands on U.S. exchanges Tuesday, 13 percent below the three-month average.

Murdoch to become 21st Century Fox CEO

Rupert Murdoch's son James will become chief executive of 21st Century Fox on July 1, the company confirmed Tuesday.

Current CEO Rupert Murdoch will transition to the role of executive co-chairman. James' brother Lachlan, currently co-chairman, will also be made executive co-chairman alongside his 84-year-old father.

Once the changes take place, the company's corporate functions and its television and film operations will jointly report to Lachlan and James Murdoch, the media and entertainment giant said.

Fox News Channel's chairman Roger Ailes had previously said through a report on Fox Business Network that he would continue to report to Rupert Murdoch despite corporate changes. The company's announcement did not specifically mention Fox News, but a company spokesman said Ailes would officially report to the Murdoch brothers.

The elevation of the two Murdoch sons had been expected and comes amid generational and technological changes that are upending traditional business models in the media and entertainment industry.

-- Herald staff and wire reports