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Friday Afternoon Business Brief

September 14, 2012, 1:21 PM

Friday Afternoon Business Brief

With today's continued advance for the stock market, Wall Street is on track for a positive week. Investors have been energized by the Federal Reserve's announced moves intended to help the economy.

  • August was not a good month for industrial production, reported down 1.2 percent by the Federal Reserve. Manufacturing was down because of a decline in output at auto plants.
  • The U.S. government is no longer the majority owner of AIG. The bailed-out insurance company says the Treasury Department wrapped up a planned sale of AIG stock, yielding the  government nearly $21 billion.
  • The New York Stock Exchange is paying $5 million to settle federal civil charges that it gave some customers an unfair advantage providing them with data ahead of others. It marks the first time the Securities and Exchange Commission has imposed a fine on an exchange.
  • Republicans have pushed a bill through the House that would phase out federal loan guarantees like those that went to the now-bankrupt solar power company Solyndra, leaving taxpayers on the hook for more than $500 million. The "No More Solyndras Act," which passed on a mainly party-line vote, has no chance of advancing in the Democratic-led Senate.

 Find the latest local business news on the Back to Business page of KELOLAND.com.

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