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Monday Afternoon Business Brief

October 22, 2012, 1:22 PM

Monday Afternoon Business Brief

Stocks are down at this hour on a day when the key averages have churned since the opening bell. Company earnings are signaling the economy isn't at full bore.

  • It isn't because of a stronger economy, rather it is because of the shifting preference for shopping and buying online. FedEx expects to ship a record number of packages during the holidays.  It expects Dec.10 to be its busiest day this year.
  • Caterpillar says the global economy is weaker than it has expected. It doesn't look for improvement before the second half of next year.  The heavy equipment giant has cut its revenue and profit outlook for 2012.
  • The Federal Trade Commission says it has agreed to settle with web analytics company Compete that it claims illegally collected personal information - including credit card and social security numbers - without informing consumers. Under the proposed agreement, Compete will have to get permission from consumers before collecting their information and will have to either delete or make anonymous data it has already collected.
  • Grocery store operator Kroger says it has stopped stocking sprouts, citing what it calls their potential food safety risk. The government says sprouts have been tied to at least 30 outbreaks of illnesses linked to salmonella and E. coli since 1996.

You can find the latest local business news on the Back to Business page of KELOLAND.com.

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