American Morning

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December 22nd, 2011
07:58 AM ET

AM Minding Your Business for December 22, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* U.S. stock futures are trading higher this morning after a quiet day yesterday. The Dow and S&P 500 just barely ending the day in positive territory. Investors were concerned that Europe's banks were in more trouble than originally thought.
* This morning, we'll get a fresh read on the employment situation. The initial jobless claims report is expected to show that 380,000 unemployment claims were filed for the first time last week. It's a good sign for the jobs market.
* The Justice Department is announcing Bank of America will pay $335 million to settle claims the bank's Countrywide Financial lending unit steered minorities into into higher interest rate sub-prime loans. Attorney General Eric Holder says the discrimination took place between 2004 and 2008.
* Investigators who are trying to track down the missing $1.2 billion in customer funds missing after the collapse of MF Global say some of that money could be in the United Kingdom. They've identified about $700 million that was transferred to England in the days before the firm's collapse. Investigators warn getting that money back could be a long and drawn-out process.
* Johnson and Johnson is pulling 12 million bottles of Motrin from store shelves. The company, which has been plagued by recalls over the past two years, says the products are safe.
* It's go time for workers at UPS. Today is the company's busiest shipping day of the year. UPS says it will deliver nearly 26 million packages today - or almost 300 a second! That's about a million more than it delivered last year. UPS attributes the increase to more folks shopping on-line.

Tune in to American Morning at 6am Eastern every day for the latest in business news.

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