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Today's News

Tesla uses stock, note sale to repay government

3 hours ago

Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. Tesla used money from a $968 million stock and note sale that closed Wednesday to repay the debt. The repayment is good for Tesla's image because the company no longer owes taxpayers money. And the government quickly touted the payment as an example of a success from an Energy Department loan program used to start clean-energy companies. The $34 billion loan portfolio has seen several high-profile defaults, including solar panel maker Solyndra, plus a potential default by electric car maker Fisker Automotive.

NJ: Bars swapped cheap booze for premium liquor

3 hours ago

New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands. Thirteen of the restaurants cited are TGI Fridays. The company said in a statement it was working with the franchisee and owner of the TGI Fridays to investigate the allegations, which it called serious.

House takes up GOP bill to speed pipeline approval

3 hours ago

House Republicans pushed a proposal Wednesday to bypass the president to speed approval of the 1,700-mile Keystone XL pipeline, which would transport oil from Canada to Texas. Democrats criticized the plan as a blatant attempt to allow a foreign company to avoid environmental review. "This is the most studied pipeline in the history of mankind," said Rep. Lee Terry, R-Neb., the bill's sponsor.

How the Dow Jones industrial average fared

3 hours ago

Stock indexes fell on Wall Street on fear the Federal Reserve could pull back from its stimulus programs soon. After surging early in the day, stocks fell as investors digested minutes of a Fed meeting that suggested the stimulus could be scaled back as early as next month if the economy picks up. The Dow Jones industrial average fell 80.41 points, or 0.5 percent, to close at 15,307.17.

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