UNDATED (AP) — Investors are trying to recover from their roller coaster ride last week on Wall Street. The stock market had its worst weekly performance since May 2012. All three major indexes ended lower for the week. On Friday, the Dow lost 115, or 0.7 percent, to 16,544. The S&P 500 shed 22 or 1.2 percent, to 1,906. The tech-heavy Nasdaq slid 102 points, or 2.3 percent, to 4,276.
UNDATED (AP) — The price of oil is down 4 percent for the week on plentiful global supplies and weak demand. Benchmark U.S. crude rose 5 cents to close at $85.82 a barrel in New York on Friday. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 16 cents to close at $90.21 a barrel in London.
NEW YORK (AP) — Sears Holdings is the latest big retailer to announce a data breach. It started in early September at its Kmart stores. The parent company, which also operates Sears stores, says the breach was detected on Thursday. Kmart was able to quickly remove the malware but the chain believes that certain debit and credit cards numbers have been compromised.
WASHINGTON (AP) — Former Federal Reserve Chairman Ben Bernanke says he was initially reluctant to have the Fed rescue American International Group in 2008. But he ultimately came to believe the bailout loan to the insurer was needed to avert a shock to the financial system. Bernanke was testifying at the trial of a lawsuit brought by former AIG Chairman and CEO Maurice Greenberg.
SAN ANTONIO (AP) — Boeing is paying $23 million to settle allegations that it submitted false labor charges to the Air Force for maintenance on C-17 Globemaster transport aircraft. The allegations were made initially by four present and former Boeing employees acting as whistleblowers. Boeing calls the discrepancies “a matter of inadequate charging discipline” and not deliberate wrongdoing.
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