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August 23, 2010 01:12 PM

Afternoon Business Brief

  • Stock prices have been trading in an indecisive fashion so far today, with no fresh economic data out. A reading on sales of previously owned homes is due tomorrow morning.
  • Hewlett-Packard is offering $1.5 billion for data storage provider 3Par. The bid is 33 percent higher than what rival Dell agreed to pay for the company just a week ago.
  • AIG is making its biggest repayment of bailout loans so far. It is paying back nearly $4 billion in taxpayer aid with proceeds from a recent debt sale.
  • Attorneys say an engineering firm that consulted on the Minneapolis bridge that collapsed in 2007 has agreed to pay more than $52 million to victims. San Francisco-based URS Corp. had been sued by more than 100 people who accused the company of missing warning signs before the collapse into the Mississippi River. Thirteen people died and 145 were injured.
  • A man charged with selling secrets about Disney's finances has pleaded guilty to wire fraud charges and conspiracy to commit securities fraud. Yonni Sebbag, a citizen of Morocco, and his girlfriend, a former Disney employee, were arrested in California in May in the insider trading case.
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