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Monday Evening Business Brief

October 1, 2012, 6:24 PM

Monday Evening Business Brief
  • Stock prices ended mixed, fading from their best levels of the session. The Dow added 78 points to close at 13,515, after being up as many as 161 points. The S&P rose nearly 4 points, while the Nasdaq shed 3 points.
  • Federal Reserve Chairman Ben Bernanke today repeated his opposition to calls in Congress to audit the central bank more aggressively.  He says efforts to fully disclose Fed discussions over interest rates would add political pressure.
  • Newly required disclosures reveal that House Speaker John Boehner bought stock in two health care companies this year. Also revealed as required under the Stock Act, is that Senate Majority Leader Harry Reid bought two government bonds and sold two others.
  • A recall of peanut butter and other nut products has some of the country's largest grocery stores pulling store-brand products off their shelves. New Mexico-based Sunland has expanded its recall of peanut butter and almond butter to include cashew butters, tahini and blanched and roasted peanut products. The company recalled products under multiple brand names last month after salmonella illnesses were linked to one of the brands it manufactures.
  • American Express will be refunding $85 million to a-quarter of a million customers. That and additional fines were ordered after regulators accused the credit card giant of charging improper late fees and deceiving customers to pressure them to pay off old debts or buy extra credit card services.

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