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Wednesday Evening Business Brief

June 6, 2012, 5:55 PM

Wednesday Evening Business Brief

Today's advance turned the Dow positive again for the year following May's decline. The Dow rose 286 points or 2.4 percent to 12,415. Both the S&P and Nasdaq were up more than 2 percent as well.

  • The Nasdaq says it plans to hand out $40 million in cash and credit to reimburse investment firms that got ensnared by technical problems with trading Facebook stock. The financial industry's self-regulatory group known as FINRA will review claims for compensation.
  • Business social network LinkedIn said it is investigating reports that more than six million passwords have been stolen and leaked onto the Internet. It has not confirmed if any user data has been compromised.
  • The White House says President Barack Obama spoke separately with German Chancellor Angela Merkel and Italian Prime Minster Mario Monti about Europe's economy as he traveled to California for fundraisers. The calls come ahead of the G-20 Summit scheduled for later this month in Mexico.
  • Retire when you're 60? France's new Socialist government wants to reduce the retirement age from 62 to 60 years old for certain workers. Critics say the gesture to mollify unions is a giant mistake.

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