NEW YORK (AP) — Stocks are mixed in early trading on Wall Street ahead of this week’s Federal Reserve meeting. The Fed is nearing the end of its bond-buying stimulus program, and investors will be looking for indications of when policy makers will start raising interest rates. In Europe, investors looked ahead to Scotland’s independence referendum.
WASHINGTON (AP) — U.S. manufacturing output has declined for the first time in seven months, reflecting a sharp fall in production at auto plants. The Federal Reserve says output at manufacturing plants fell 0.4 percent in August after a 0.7 percent rise in July. Total industrial production was down 0.1 percent in August, also the first setback for the overall figure since January. Output of motor vehicles and parts dropped 7.6 percent after a 9.3 percent increase in July.
DETROIT (AP) — U.S. safety regulators are investigating complaints that the doors won’t latch properly on some Ford Fiesta subcompact cars. The probe announced today by covers about 205,000 Fiestas from the 2011 through 2013 model years. The National Highway Traffic Safety Administration says it has received 61 complaints about the doors. Some said the latches wouldn’t catch. A dozen said a door opened while the cars were being driven. The agency says one person was hurt when a door rebounded after an attempt to close it.
FRANKFURT, Germany (AP) — A major international organization has cut its growth forecast for the countries that use the euro and says the troubled currency union needs even more stimulus from the central bank and governments. The Organization for Economic Co-operation and Development cut its forecast for the eurozone this year to 0.8 percent from 1.2 percent in its May assessment. The Paris-based think tank also cut its growth forecasts for the U.S. and several other large economies.
DETROIT (AP) — The city of Detroit says it has ironed out details of a settlement with a major opponent in its bankruptcy case. The disclosure was made today as a judge resumed the trial after a three-day break. The timeout allowed Detroit and bond insurer Syncora to finish a deal announced last week. Another bond insurer, Financial Guaranty Insurance, says it needs more time to craft strategy after the Syncora settlement, but Judge Steven Rhodes declined to stop the trial.
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