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Friday Afternoon Business Brief

December 7, 2012, 1:13 PM

Friday Afternoon Business Brief

Stocks have been mixed on Wall Street today. Investors have taken today's November jobs report in stride.

  • The Labor Department says hiring was steady in November, despite Superstorm Sandy's disruption.  Companies added 146,000 jobs, and the unemployment rate fell to 7.7 percent - the lowest in nearly four years - from 7.9 percent in October.
  • Federal regulators are proposing automakers install event data recorders - better known as "black boxes" - in most new cars and trucks despite privacy concerns. The National Highway Traffic Safety Administration proposal would apply to passenger vehicles sold after Sept. 1, 2014, and weighing less than 8,500 pounds.
  • Fitch Ratings has cut its debt rating on HSBC Holdings, saying the risks attached to its expansion into higher-risk markets such as China is no longer sufficiently mitigated. The credit ratings agency lowered HSBC's long-term issuer default rating to AA- from AA, but revised up its outlook on Europe's biggest bank from negative to stable.
  • AIG says it is in talks with a Chinese investor group to sell a controlling stake in its jet-leasing business. The New York-based insurer has been selling off subsidiaries to raise money to pay back its $182 billion bailout from the government.

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