September 24 Biz Minute
General Motors CEO Fritz Henderson said today that US auto sales should improve modestly next year as tight credit for auto financing eases and the economy works its way out of the recession. Rite Aid reported a smaller second-quarter loss today as it cut expenses, but they lowered their expectations for the fiscal year due to the weak economy and high unemployment. Home resales dipped unexpectedly last month after a four-month streak of gains, providing evidence that the housing market recovery remains fragile. Duke Energy and FPL Group, two of the nation’s largest electric utilities, said today they will transition their entire automobile fleets to plug-in hybrid and full-electric vehicles. The US Securities and Exchange Commission charged a Texas man with insider trading for making $8.64 million of illegal profit related to Dell’s planned purchase of Perot Systems. Twitter is close to a deal to secure as much as $100 million of new funding from up to seven investors Hungary’s competition authority fined Visa, mastercard and the country’s top commercial banks today for illegally fixing the fees they charge each other after bank card transactions…