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Monday Afternoon Business Brief

November 14, 2011, 1:38 PM

Monday Afternoon Business Brief
U.S. investors have been reminded today that much work remains to be done to address Europe's debt crisis. A spike in Italy's borrowing cost has unnerved investors, sending stocks lower.
  • The Supreme Court will hear arguments next March over President Barack Obama's health care overhaul. The stakes are high since the timing suggestions a decision could come just over four months before Election Day.
  • Federal safety regulators are investigating problems with the automatic shift levers on several General Motors cars. They say drivers may think the cars are in park when they actually are in gear. Seven crashes have been reported because of the problem.
  • The judge leading the investigation into Britain's deepening phone hacking scandal vowed to find an answer to the question: Who guards the guardians? Britain's phone hacking inquiry was set up by Prime Minister David Cameron shortly after the scandal boiled over in July, pulling the lid off illegal spying at the nation's best-selling Sunday newspaper and exposing police corruption.
  • Home improvement retailer Lowe's says costs related to closing stores and other restructuring pushed its net income down 44 percent. At the same time, adjusted results topped analyst expectations.

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