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Wednesday Afternoon Business Brief

September 12, 2012, 1:44 PM

Wednesday Afternoon Business Brief

Stock prices are higher today. Investors await the announcement after tomorrow's Federal Reserve meeting, which could include new steps aimed at helping the economy.

  • British defense contractor BAE Systems and European aerospace giant EADS say they're in talks about combining their businesses into a global aerospace and defense group. Under the deal they envision, BAE Systems shareholders would own 40 percent and EADS shareholders 60 percent of the enlarged group.
  • Apple has unveiled the new iPhone 5. Apple calls it its thinnest and lightest yet. It also has a bigger screen, measuring 4 inches diagonally.
  • A new survey from the government finds more than 800,000 U.S. households lost access to basic banking services between January 2009 and June 2011. The FDIC says more than 8 percent of U.S. households have no access to bank accounts. More than 20 percent of black and Hispanic families didn't have access to traditional banking services.
  • Christian-oriented Hobby Lobby Stores has filed a federal lawsuit challenging a mandate in the nation's health care overhaul law that requires employers to provide coverage for the morning-after pill. The suit from the Oklahoma City-based chain claims the mandate forces the company's owners "to violate their deeply held religious beliefs".

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