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Daily business news and economic stories
  • Federal Reserve Bank Board Chairman Ben Bernanke speaks to K-12 economics teachers about 'the need for personal financial education in the wake of the recent financial crisis' at the bank's headquarters August 7, 2012 in Washington, D.C.
    Chip Somodevilla/Getty Images

    The Federal Reserve wraps up its two day policy meeting today. It's expected to announce whether it will pump more stimulus money into the U.S. economy. That would make a third round of so-called "quantitative easing." Directors at Ford Motor Company are meeting today. There's word the agenda could include the first step toward a change in management at the company. And in case you missed the big launch, Apple's iPhone 5 was unveiled last night. Fifty million iPhone 5s could get snapped up by the end of the year. And each one is a potential cash cow for the wireless carrier the iPhone customer chooses.

  • Apple's new iPhone, expected to be released on Wednesday, could add between a quarter and a half a percentage point to fourth-quarter GDP.
    David Paul Morris/Getty Images

    The House of Representatives could vote as soon as tomorrow on legislation to fund the government for the next six months and avoid a shutdown. That temporary funding would keep the government going. But would mean some uncertainty for federal agencies. In Germany, a top court has rejected calls to block Europe's new rescue fund, ruling that the fund is legal under German law. And the iPhone 5 is expected to be unveiled at a press conference later today. Today, Apple's iPhone is a major object of desire — but it wasn't always that way.

  • PODCAST: Chicago teachers on strike, luxury takes a hike

    Today in Chicago, day two of the teachers' strike begins. The city and the teachers union failed to agree on a new contract, and around 30,000 educators are on strike. It's a rocky second day for another big organization: After a seven-year effort to open a part of the Arctic Ocean to oil drilling, Shell Oil has already hit a snag. And Apple is expected to unveil the new iPhone 5 at a huge press conference tomorrow in San Francisco. Of course, no one pitched a new product like Steve Jobs — but what does it take to make a great pitch?

  • Members of Congress will return to session today. But don't expect a lot to come from Capitol Hill over the next several weeks before Election Day. The U.S. Treasury plans to sell $18 billion shares of AIG stock in a public offering that would reduce its stake by more than half. Katie Couric launches her daytime talk show today. Is she the next Oprah? Plus, Toys "R" Us faces challenges as it releases a tablet for kids, the capital of Vermont is getting into the utility business, and will the Fed announce a new round of economic stimulus?

  • August's unemployment numbers are out today. Next week, all eyes turn to the Fed, which will detail its next big move, small move, or… no move. A University of Chicago study shows grandparents are giving more financial support and providing more babysitting help in recent years. The San Antonio school district started making its lunches healthier with a goal of fighting obesity — and it's making money. And when it comes to home insurance, read the fine print.

  • Despite — or maybe because of — recent mass shootings in the U.S., gun manufacturers are reporting peak profits. The European Central Bank announces a bond-buying plan. McDonald's is opening two all-vegetarian restaurants in India. David Gura reports on a father and son in North Carolina who have differing views on the upcoming election. And Gallup asked American workers how satisfied they were with 13 aspects of their jobs.

  • Nokia unveils new smartphone today, loaded with Microsoft's new operating system. U.S. productivity rose last quarter. Next Monday, Chicago public school teachers may vote to walk off the job, marking the first big strike since 2006. FedEx downgrades its quarterly earnings. We look into the marketing of high school athletes. And China ponders the need for a stimulus package.

  • Automakers are enjoying a good earning season. Analysts look to the UK for insight into Paul Ryan's proposed deficit cuts, and Hillary Clinton heads to Beijing to talk economy.

  •  Rihanna performs at Barclaycard Wireless Festival at Hyde Park on July 8, 2012 in London, England.
    Danny Martindale/Getty Images

    A big week for the European Debt Crisis starts off with some not-so-great news: manufacturing in the region fell last month for the 13th straight month. There are going to be a lot of people on the highways today heading home from Labor Day weekend festivities. And they'll be spending a little more on gas than they did a year ago, but how do our gas prices stack up globally? And the drug company Pfizer is getting ready to sell shares of its animal health business Zoetis — which distributes medicines for pets and livestock — to the public.

  • The big news of the day is Fed Chairman Ben Bernanke's much-anticipated speech at Jackson Hole. Also, we fact-check a misleading campaign ad about welfare.

Mid-day Update