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Monday Afternoon Business Brief

October 24, 2011, 2:51 PM

Monday Afternoon Business Brief
Stock prices are rising with investors reacting positively to some dealmaking as well as earnings news. Caterpillar shares are up after it reported results and lifted the outlook.
  • President Barack Obama is expected to talk about a series of measures he wants to take without the help of Congress to aid the economy. An administration official says he'll unveil a measure to help troubled homeowners to more easily refinance their homes. He's due to speak in Las Vegas, which is among the cities hardest hit by the housing crisis.
  • German lawmakers say the eurozone bailout fund will be increased to about $1.4 trillion to enable it to contain the debt turmoil that threatens to rip apart the 17-nation eurozone. Eurozone governments hope the European Financial Stability Fund, or EFSF, will be able to protect countries like Italy and Spain from being engulfed in the debt crisis.
  • Honda says it has added 1,000 new workers to staff a second shift at its factory in Greensburg, Ind., where the Civic compact car is made. The added shift means the factory will increase production to 200,000 cars a year, recovering after a parts shortage caused by the Japanese quake and tsunami.
  • British lawmakers vow to grill Rupert Murdoch's son James about newspaper phone hacking for a second time next month. This, as Murdoch's former right-hand man denies that he knew about the scale of the wrongdoing when he paid almost $400,000 to a reporter convicted of illegal eavesdropping.

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