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Tuesday Evening Business Brief

October 16, 2012, 5:18 PM

Tuesday Evening Business Brief
  • Stocks posted a solid advance today, between some better than expected earnings and word that inflation remains in check. The Dow gained 128 points to 13,552. The S&P rose 15 points to 1,455, while the Nasdaq surged 37 to 3,101.
  • The Federal Reserve reports that industrial production rose 0.4 percent last month, bouncing back after a decline in August. Factory output rose only slightly in September.
  • Apple has sent out invitations for an event next Tuesday.  It is expected to unveil plans to sell a smaller iPad.
  • European regulators have asked Google to clarify its new privacy policy and to make it easier for users to opt out of it. At issue are concerns that the web giant may be collecting too much data and holding it for too long.
  • Facing weak sales and mounting losses, Massachusetts-based electric-car battery maker A123 Systems has filed for bankruptcy protection and reached a deal to sell its automotive assets. Auto parts maker Johnson Controls will pay $125 million for A123's auto business. That includes two Michigan factories and lithium-ion battery technology used in cars like the Fisker Karma and upcoming Chevrolet Spark.

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