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Monday Evening Business Brief

September 17, 2012, 6:23 PM

Monday Evening Business Brief
  • With today's modest decline, the market broke a four-day rally. The Dow lost 40 points to 13,553. The S&P was down nearly 5 points, while the Nasdaq composite slipped 5 points.
  • The Canadian Auto Workers union says it has reached a tentative deal with Ford. The CAW represents about 4,500 workers at Ford, 8,000 workers at GM and another 8,000 at Chrysler.
  • Peregrine Financial Group CEO Russ Wasendorf Sr. has pleaded guilty to a 20-year fraud that duped thousands of investors out of millions of dollars.  During today's hearing, Wasendorf admitted to a $200 million scheme that he first confessed in a suicide note in July. He pleaded guilty to charges of mail fraud, embezzling customer funds and making false statements to regulators.
  • Oil plunged this afternoon, dropping more than $4 per barrel at one point in a dramatic end to an otherwise quiet trading day in New York. Benchmark crude fell $2.38 to settle at $96.62 a barrel in New York.
  • If your travels take you to Austria, you can check out McDonald's new noodle dishes there this week. Named "McNoodles", the dishes come with vegetables and salad, chicken pieces and either sweet and sour or curry sauce. They'll be available for a limited time starting Thursday.

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