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November 23, 2011 05:32 PM

Wednesday Evening Business Brief


Stocks slumped broadly again today, heading into the Thanksgiving holiday.
The Dow fell 236 points, or 2.1 percent, to 11,258. The S&P fell 26 points, while the Nasdaq shed 61 points.
  • Microsoft may be interested in talks with Yahoo if it decides to sell part or all of its business. The DealReporter and The New York Times both report Microsoft has signed a nondisclosure agreement so it can take a closer look at Yahoo's books.
  • Private mortgage insurer PMI Group is seeking shelter from creditors under the Chapter 11 bankruptcy code after the seizure of two of its subsidiaries by regulators in Arizona. Last month, Arizona officials seized the two units because they didn't have enough money on hand to meet state requirements.
  • Worries that the global economy is weakening pushed oil prices down, even though the government said that oil supplies fell sharply in the U.S. Benchmark crude fell $1.84 to finish at $96.17 a barrel in New York.
  • One of the country's largest publishers, Penguin Group (USA), is temporarily restoring libraries' ability to loan their e-books for Amazon.com's Kindle - but only through the end of the year. The publisher backtracked after saying it learned from Amazon that the online retailer wasn't aware of Penguin's agreement with Overdrive, a leading supplier of e-books to libraries.
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