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Monday Evening Business Brief

September 12, 2011, 5:59 PM

Monday Evening Business Brief
Despite an early sell-off, stock prices ended higher on Wall Street. The Dow was up 69 points to 11,061. The S&P added 8 points, or 0.7 percent, while the Nasdaq rose 27 points.
  • French banking giant Societe Generale is trying to calm investor fears over its exposure to Greek debt. It released figures today detailing its exposure to Greece, while announcing plans to raise money quicker than planned.
  • The world's leading central bankers say while the global economy is slowing, they do not expect it to enter recession. At the same time, they stand ready to provide liquidity support to banks in need.
  • In a sharp challenge to the GOP, President Barack Obama proposes paying for his new $447 billion jobs plan with tax hikes that Republicans have already rejected. He's accusing them of political motives if they still refuse to go along.
  • The Federal Aviation Administration proposes a $1.1 million fine against an aircraft repair station for allegedly using improper maintenance procedures to find cracks and prevent damage to the fuselages of 44 Southwest Airlines jets. The FAA says Aviation Technical Services of Everett, Wash., failed to fully inspect the Boeing 737-300s for metal fatigue, and incorrectly installed fasteners in rivet holes that hold pieces of aircraft skin in place.

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