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September 20, 2011 06:17 PM

Tuesday Evening Business Brief


Stocks ended mixed, but off their best levels of the session.
The Dow added 8 points to 11,409. The S&P fell 2 points, or 0.2 percent. The Nasdaq slid 23 points.
  • The European Union and the International Monetary Fund today raised concerns over the health of European banks as the continent's debt crisis worsens. The EU's competition commissioner warns that more than the nine banks that failed the stress tests this summer may need to be recapitalized, while proposing an extension of crisis rules that make it easier for governments to rescue failing lenders.
  • A former expert consultant to hedge funds is the latest person convicted in a wide-ranging prosecution of insider trading on Wall Street. James Fleishman was convicted of conspiracy and wire fraud by a jury in federal court in Manhattan. The case is an offshoot of a prosecution of insider trading at hedge funds that already has resulted in several dozen convictions.
  • As food safety officials undertake wider testing for potentially deadly E. coli in meat, Republican presidential candidate Michele Bachmann says that regulations are overburdening food producers. Bachmann did not vote for the sweeping food safety bill passed by Congress at the end of last year.
  • Most Alaska residents will soon be getting a check for $1,174. Each person's share of the state's vast oil wealth was announced with much fanfare in Anchorage. The announcement from Gov. Sean Parnell was carried live on television statewide.
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