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Tuesday Evening Business Brief

September 11, 2012, 6:39 PM

Tuesday Evening Business Brief
  • Stocks finished the day higher. The Dow was up 69 points to 13,323. The S&P was up 4 points, while the Nasdaq added a fraction of a point.
  • The government's debt rating could be heading for the "fiscal cliff" along with the federal budget. Moody's says it would likely trim the rating on U.S. government debt if budget negotiations fail.
  • The Treasury Department says it has received an additional $2.7 billion from the sale of AIG stock. The sale comes one day after the government reported a profit on its four-year investment in the bailed-out financial firm.
  • American Airlines and Southwest Airlines say that customers encountered problems booking flights because of a glitch in their reservations systems. Both say the problem was fixed quickly, and they blamed it on Sabre Holding Corp., which provides reservations-systems technology to airlines.
  • The Food and Drug Administration is warning cosmetics maker L'Oreal its website for Genefique exaggerates the benefits of the skin cream, portraying it as a drug with medical properties. The agency sent a warning letter to the company's Lancome unit, which markets several anti-wrinkle cosmetics.

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