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Wednesday Afternoon Business Brief

September 5, 2012, 1:20 PM

Wednesday Afternoon Business Brief

Stocks have been bouncing between small gains and losses today on Wall Street. One drag on the market is the profit warning from FedEx, citing the slowdown with the global economy.

  • European Central Bank President Mario Draghi gets another chance tomorrow to spell out how the bank intends to rescue the 17 countries that use the euro from financial disaster. Expectations have been high since late July when the ECB head vowed to do "whatever it takes" to hold the eurozone together.
  • The National Transportation Safety Board wants to see ground collision warning systems on all large commercial airliners. The NTSB is recommending that the Federal Aviation Administration require large airplanes to be equipped with anti-ground collision tools, such as a camera system that would give the pilot a clear view of the plane's wingtips.
  • Nokia has unveiled its first smartphones to run the next version of Windows, a necessary next step after betting its future on an alliance with Microsoft. Nokia's new flagship phone is the Lumia 920, running Windows Phone 8.
  • Digital First Media says news publisher Journal Register Co. has again filed for bankruptcy protection and hopes for a quick sale. The Chapter 11 filing announced today comes three years after the media company emerged from a prior bankruptcy case. Journal Register publishes newspapers and operates websites in 10 states.

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