daily briefing

daily briefing

August 26, 2008

Treasury bill auction sees interest rate drop

WASHINGTON : Interest rates on short-term Treasury bills fell in yesterday's auction for the second consecutive week, with the rate on three-month bills falling to the lowest level in a month. The Treasury Department auctioned $28 billion in three-month bills at a discount rate of 1.71 percent, down from 1.85 percent last week. An additional $27 billion in six-month bills was auctioned at a discount rate of 1.925 percent, down from 1.98 percent last week. The three-month rate was the lowest since the bills averaged 1.695 percent on July 28. The six-month rate was the lowest since 1.92 percent on Aug. 4. For a $10,000 bill, the three-month price was $9,956.30, while a six-month bill sold for $9,902.68.

Associated Press

Facebook extends Scrabulous cutoff

NEW YORK : A highly popular Scrabble clone pulled from Facebook in the United States and Canada continued its tumble over the weekend as the online hangout extended its block of the game throughout most of the world. Facebook said yesterday that it was forced to disable Scrabulous after one of Scrabble's rights owners, Mattel Inc., made a formal removal request and the developers of Scrabulous took no action themselves. The Scrabulous application remains available in India, where its developers live and where Mattel has filed a lawsuit.

Associated Press

Ruby Tuesday cited for sexual harassment

Ruby Tuesday Inc., owner of the casual-dining chain with more than 900 locations, subjected female employees at a Pennsylvania restaurant to a hostile work environment, the Equal Employment Opportunity Commission said. Female workers, including some teenagers, were sexually harassed by the restaurant's general manager, who made "crude sexual propositions," the EEOC said.

Bloomberg News

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