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February 22, 2012 01:23 PM

Wednesday Afternoon Business Brief


U.S. stocks have backtracked today amid concern about the outlook for Greece and the risk to the global economy.
The declines come a day after the Dow touched the 13,000 level for the first time in more than three years.

  • A positive trend continues for the U.S. housing market. The National Association of Realtors says sales of previously owned homes rose 4.3 percent last month. Sales stood at the highest level in nearly two years. 
  • A federal advisory panel wants all U.S. adults to get vaccinated against whooping cough. The panel has voted to expand its recommendation to include all those 65 and older who haven't gotten a whooping cough shot as an adult.
  • Treasury Secretary Timothy Geithner says President Barack Obama's plan to reduce corporate tax rates would make the tax system more globally competitive. The administration wants to lower the corporate tax rate from 35 to 28 percent. Manufacturers would get incentives making their effective tax rate 25 percent.
  • A strike at Germany's Frankfurt airport that's caused hundreds of flight cancellations is being halted before new talks aimed at defusing a bitter pay dispute, according to a union. The strikes, which began last week, already have led to the cancellation of hundreds of flights and delays at the airport. It normally sees some 1,300 takeoffs and landings daily.
  • Business
  • Economy/Stocks
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