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May 25, 2012 05:32 AM

Friday Morning Business Brief

Stock prices ended mixed in Thursday trading on Wall Street. But before today's session, the key averages are up 1.3 to 2.2 percent for the week.

  • Oil rose above $91 a barrel Friday in Asia as a global stock market rally boosted oil trader confidence.  Benchmark oil for July delivery was up 60 cents to $91.26 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 76 cents to settle at $90.66 in New York on Thursday.
  • A source says Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will pay investors who overpaid when they bought Facebook's stock last Friday's IPO. The source says Morgan Stanley is reviewing orders placed by retail clients placed for Facebook stock, and will make price adjustments if they paid too much.
  • Warren Buffett says his company is likely to buy more newspapers in the next few years, and Berkshire Hathaway will not try to influence the editorial policies of any of them. Buffett wrote a memo this week to the editors and publishers of all of Berkshire's daily newspapers. That group is about to grow to include 26 daily newspapers because Berkshire announced last week that it plans to buy 63 newspapers from Media General Inc. for $142 million.
  • A federal judge says auto dealers who use consumers' bad credit histories to charge them more interest on car loans must tell buyers they have negative information on their credit report, even if the loan is farmed out to a bank or finance company. That ruling came from federal judge Ellen Huvelle in a battle between the National Automobile Dealers Association and the Federal Trade Commission.
  • Business
  • Economy/Stocks

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