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August 01, 2012 01:15 PM

Wednesday Afternoon Business Brief

Stocks are mixed ahead of today's announcement from the Federal Reserve. Some attention has turned to the internal mechanics of the market itself with The New York Stock Exchange saying it is reviewing trades in dozens of stocks for suspected technical glitches.

  • The nation's manufacturing sector has contracted for a second straight month. The Institute for Supply Management says its manufacturing index came in at 49.8, with any number below 50 indicating contraction.
  • International Monetary Fund chief Christine Lagarde is calling on the European Central Bank to take further steps to stabilize the economy of the eurozone. Lagarde told reporters in Washington the world economy is suffering a decline in confidence, driven by doubts about the ability of European and U.S. leaders to manage economic problems.
  • Viewer excitement about the London Olympics is translating into gold for NBC: The broadcaster now expects to break even on the London Games rather than taking a loss.
  • Burger King says its profit sizzled in the second quarter, rising 60 percent. With growth tougher to come by in the U.S., it has focused on opportunity abroad. In the past year, 80 percent of new store openings have been in Europe, the Middle East and Africa.

You can find the latest local business news on the Back To Business page of

  • Business
  • Economy/Stocks

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