BC-Business News Digest
NEW YORK â¿¿ Former International Monetary Fund leader Dominique Strauss-Kahn and a hotel maid have settled her lawsuit over sex-assault allegations that sank his political career and spurred scrutiny of his dealings with women on two continents. By Jennifer Peltz.
AP photos.â¿¿ AIG-TREASURY SALE â¿¿ The U.S. government says it is selling its remaining shares of American International Group stock, moving to close the books on the government's biggest bailout during the 2008 financial crisis. WALL STREET NEW YORK â¿¿ Stocks edge higher on Wall Street after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister. Investors also wait for developments in crucial U.S. budget talks. By Business Writer Steve Rothwell. AP Photo. â¿¿ OIL PRICES â¿¿ Oil prices fall below $86 per barrel, despite a report of a surprise expansion of German exports and signs of increased oil consumption in China. Concerns about the so-called fiscal cliff in the U.S. continue to dog traders and investors. INDUSTRY OBAMA-ENGINE PLANT DETROIT â¿¿ The Detroit Diesel Corp. uses a visit from President Barack Obama to announce that it will add 115 jobs and invest millions at a huge factory near the city. By Auto Writer Tom Krisher. MCDONALD'S-SALES NEW YORK â¿¿ McDonald's says a key sales figure rose in November, as U.S. customers snapped up the world's biggest hamburger chain's breakfast offerings and limited-time Cheddar Bacon Onion sandwiches. The increase follows a decline in October, the first drop in McDonald's key monthly sales gauge in nearly a decade. By Business Writer Mae Anderson. â¿¿ HSBC-BANK CASE: AP source: HSBC to reach $1.9 billion deal with government in money-laundering probe. â¿¿ INGERSOLL-RAND-SPINOFF â¿¿ Ingersoll-Rand says it will spin off its security division. The company, which also makes heating and cooling tools and other industrial products, also plans to buy back up to $2 billion in shares.
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