Insurers probably lost about $800 million in Hurricane Floyd, according to an early estimate from the industry- backed Insurance Information Institute. The record for claims: $15.5 billion from Hurricane Andrew in 1992.
The yen posted its biggest one-day loss against the dollar in three months after comments by Japanese officials sparked speculation Japan is trying to enlist help from other nations in weakening the yen.
Flight attendants at American Airlines rejected a proposed four-year contract that would have resulted in pay raises totaling 15.9 percent.
UPS said it plans to take the company public in early November. The package-delivery company hopes to raise $3 billion in the initial public offering.
Construction of new homes and apartments increased 0.4 percent in August, led by another big rise in apartment building, the Commerce Department reported.
The Mall in Columbia opened 37 new stores yesterday, including a much-anticipated Nordstrom. The 250,000-square-foot addition took two years to complete. The new stores, which include Restoration Hardware, Godiva, April Cornell and Cache, reflect an attempt to make the 28-year-old mall more upscale.
Charles Keating, who served a year in prison for a federal fraud conviction, won an appeal in federal court and will not have state fraud convictions reinstated against him. The 9th U.S. Circuit Court of Appeals ruled that flawed jury instructions tainted the financier's convictions in Los Angeles Superior Court on charges of defrauding investors.