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Tuesday Afternoon Business Brief

September 4, 2012, 1:08 PM

Tuesday Afternoon Business Brief

Investors are taking a more cautious approach to stocks today after some less-than-encouraging economic reports. Separate readings on manufacturing and construction spending indicate the economy continues to experience challenges.

  • Demand for pickups helped give U.S. auto sales a boost last month.  Toyota sales were up more than 40 percent from a year ago. GM saw a rise of 10 percent, while Ford and Chrysler were also up double-digits.
  • Apple is inviting reporters to a news conference next week in San Francisco.  The event slated for Sept. 12 is expected to include an announcement involving the iPhone 5.
  • The U.N.'s labor office says youth unemployment is likely to rise globally to 12.9 percent by 2017. It expects more young people to leave the work force and the euro crisis to spread to emerging economies.
  • A turquoise wool suit that Margaret Thatcher wore on the day she was confirmed as Britain's Conservative Party leader has sold at auction for nearly $40,000.  An anonymous bidder bought the outfit, by British designer Mansfield, at a Christie's auction in London.

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