BC-Business News Digest
NEW YORK â¿¿ Stocks rise on Wall Street after U.S. corporate earnings reports got off to a good start. By Business Writer Steve Rothwell.
â¿¿ OIL PRICES â¿¿ The price of oil barely budged Wednesday, while natural gas plunged to the lowest level since late September. Benchmark oil slipped 5 cents to end at $93.10 per barrel in New York trading.â¿¿ SEC-KHUZAMI â¿¿ Robert Khuzami is leaving the Securities and Exchange Commission after leading the agency's efforts to penalize the nation's largest banks for actions that triggered the 2008 financial crisis. â¿¿ LABOR SECRETARY RESIGNS â¿¿ Labor Secretary Hilda Solis resigns, saying she plans to return to her native California. She is expected to run for a seat on the Los Angeles County Board of Supervisors. AP photo. â¿¿ UN-DOMESTIC WORKERS â¿¿ The U.N. says at least 52 million people are employed as domestic workers, most of them women without adequate legal protection. â¿¿ OBIT-BUCHANAN â¿¿ Nobel Prize-winning economist James M. Buchanan, who helped develop the public choice theory of economics, has died. He was 93. RETAIL: FOOD-UNHAPPY HOURS During "happy hour" at the Summer Winter bar in Burlington, Mass., the bargain is on the bivalves, not the brews. That's because Massachusetts legislators passed a law in 1984 banning bars from offering cut-price drinks. So James Flaherty, the bar's director of food and beverage, decided to use shellfish specials to draw customers. Massachusetts isn't alone. The concept of happy hour â¿¿ when bars offer lower prices or two-for-one specials â¿¿ may seem like an American tradition, but is in fact illegal or restricted in quite a few places. By Michelle Locke. AP photos. â¿¿ DARDEN-PERSONNEL â¿¿ Darden is replacing the president of its flagship Olive Garden chain after a new marketing campaign failed to reverse slumping sales.
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