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August 10, 2010 01:11 PM

Afternoon Business Brief

  • Stock prices have been down since the opening bell. Investors await the announcement due shortly from the Federal Reserve on interest rates.
  • U.S. workers may be stretched to the limit. The Labor Department says worker productivity dropped this spring for the first time in more than a year. The decline, at an annual rate of 0.9 percent, could be a sign that companies may need to step up hiring if they hope to grow.
  • A judge has granted bail for the flight attendant accused of cursing at a passenger on an airplane and exiting on an emergency slide. Steven Slater was arraigned on charges of criminal mischief, reckless endangerment and trespassing. The judge set his bail at $2,500, but it wasn't immediately clear when Slater might be able to post the money.
  • Netflix has reached a five-year deal worth nearly $1 billion to stream movies from Paramount, Lionsgate and MGM online starting Sept. 1. The move boosts its "Watch Instantly" offerings and makes the studios' joint pay TV venture Epix immediately profitable.
  • South Korean police investigators have raided Google's Seoul offices on suspicion the Internet search company was illegally gathering personal information for its street mapping service. A police official says a cybercrime unit is investigating Google Korea for possibly violating South Korean communications and privacy laws with Street View. That's the map service that includes photographs of streets taken by Google cameras.
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