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Thursday Afternoon Business Brief

September 13, 2012, 1:24 PM

Thursday Afternoon Business Brief

Stocks are up strongly after the Federal Reserve announced steps aimed at boosting the economy. The Dow has been up in triple-digit fashion.

  • The Federal Reserve has unveiled a series of bold and open-ended steps aimed at making it cheaper for consumers and businesses to borrow and spend. Among the steps, the Fed said it will spend $40 billion a month to buy mortgage bonds for as long as it deems necessary to make home buying more affordable.
  • Led by Southwest Airlines, several airlines are raising prices again. Southwest has raised fares by $10 per round trip on about 10 percent of its routes. United Airlines expanded the increase later in the day to cover most of its U.S. Flights.
  • A top executive in the now-defunct empire of disgraced Texas financier R. Allen Stanford has been sentenced to three years in prison. It is for Laura Pendergest-Holt's role in helping the once jet-setting businessman bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. History.
  • USA Today is overhauling the printed paper and digital editions for the second time in less than two years. The print version of the nation's second-largest newspaper will introduce a new logo and a redesign that highlights text in key portions of stories in different colors and includes more graphics and photos.

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