NEW YORK (AP) -- Another bad day on Wall Street, where the Standard & Poor's 500 index closed down 20 points and suffered its 11th loss in the last 14 days. Investors are worried about the uncertain business climate spawned by the political gridlock in Washington that has left the government partially shut down and poses the threat of a government default in less than two weeks.
NEW YORK (AP) -- Five ex-employees of imprisoned financier Bernard Madoff were introduced to 200 prospective jurors today in New York City as jury selection began in their fraud trial. The defendants turned toward the crowd as their names were announced by U.S. District Judge Laura Taylor Swain, who is presiding over a trial expected to last five months.
UNDATED (AP) -- Alcoa says it swung to a profit in the third quarter despite lower aluminum prices, as it was helped by demand from auto makers and by cost-cutting moves. Alcoa Inc. said today that it earned $24 million, or 2 cents per share, compared with a year-ago loss of $143 million, or 13 cents per share. The company says that after the costs of restructuring, it would've earned 11 cents per share.
ST. LOUIS (AP) -- A federal grand jury in St. Louis has indicted a former Boeing Co. procurement officer on charges he gave inside information to a Washington state shop owner and others, netting the subcontractors more than $3.5 million in orders for aircraft parts. The indictment filed in federal court in St. Louis and made public yesterday says that Deon E. Anderson, of the St. Louis area, gave Jeffrey Lavelle, of Mukilteo, Wash., and others non-public competitor bid and historical price information in return for cash payments.
DETROIT (AP) -- Officials in Detroit have 35 days to develop a plan to clear lawsuits that were pending before the city filed for bankruptcy. Federal Judge Steven Rhodes issued the order today as part of a request by the mother of a slain Detroit police officer to lift or modify a stay on her civil suit against the city. Deborah Ryan filed the lawsuit after her daughter Patricia Williams was shot to death in 2009 by her police officer husband, Edward Williams.
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