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Thursday Evening Business Brief

September 27, 2012, 5:33 PM

Thursday Evening Business Brief

The blue chips have logged their first gains in days. The Dow rose 72 points to 13,486. The S&P added nearly 14 points, while the Nasdaq gained 43. It was the first positive finish for the Dow in five sessions, the first in six for the S&P.

  • Spain and Greece have outlined plans to further reduce government spending and raise taxes. The goal is to convince international lenders and financial markets they are on the path to cutting their deficits.
  • A federal judge has tossed out a lawsuit against Freddie Mac that accused the mortgage giant and three top executives of understating the level of risky mortgages the company held before the housing bubble burst. The judge in New York dismissed the class-action suit filed by several shareholders accusing Freddie and the former executives of civil securities fraud. The SEC filed charges in December making similar allegations and that suit is still pending.
  • Facebook is launching a new service called Gifts. As its name suggests, it lets users send chocolate, coffee and even socks and other real-life presents to one another. The capability comes after Facebook's May purchase of Karma, a San Francisco-based startup.
  • ABC's "Good Morning America" is celebrating its biggest ratings victory over NBC's "Today" show in more than 18 years. Nielsen says "Good Morning America" averaged nearly 5 million viewers last week, compared with nearly 4.1 million who watched "Today." GMA has won every week since the Olympics.

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