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Friday Afternoon Business Brief

September 21, 2012, 1:14 PM

Friday Afternoon Business Brief

Stock prices have seen modest gains so far today. The market was little changed for the week, coming into today's session.

  • The Labor Department says rates of unemployment rates rose in more than half the U.S. states last month. Jobless rates were up for the month in 26 states, unchanged in 12 and down in the other 12.
  • Adding new embarrassment to the company's challenges, the CEO of struggling BlackBerry maker Research in Motion has apologized today after an outage in Europe and Africa interrupted service for customers there. It happened on the same day that Apple released its new iPhone 5, and lines were reported outside many stores.
  • American Airlines says it expects to avoid laying off any flight attendants after 2,205 of them signed up for severance payments. American and parent AMR Corp. filed for bankruptcy in November. The company is trying to cut $1 billion in annual labor costs.
  • California Democratic Rep. Maxine Waters won't be charged with ethics violations following allegations she steered a $12 million federal bailout to a bank where her husband owns stock. House Ethics Committee members say their probe finds no violation by Waters, a senior member of the House Financial Services Committee.

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