Toll Brothers profit tumbles 85%; British Airways fined $300M
CBS News
Transcript
[Music] fears about the credit crisis reemerged on Wall Street Thursday and jittery investors gave back some early gains the Dow lost a fraction of a point the NASDAQ Composite closed off more than 11 the housing market is back in the spotlight today we get the latest look at new home sales for July canceled contracts for new homes of hurt home builders in recent months told Brothers recently reported quarterly profits tumbled 85% some British Airways Travelers may have paid too much to get across the pond Britain's largest airline was fined $300 million for colluding with Rivals over fuel search charges on international flights between mid 2004 and early 2006 search charges lifted fairs from 10 to $120 per ticket and the airline industry is predicting a record number of Travelers will take to the skies Labor Day weekend air travel is expected to increase more than 22% with some 16 million passengers flying over the holiday weekend that's despite the fact that passenger delays are the highest level on record nearly a third of all domestic flights in June were late and the cost of financing the American dream dropped to the lowest point in 3 months this week the average rate on a 30-year loan fell to 6.52% that's down from 6.62% last week and for a 15-year loan the average rate is now 6.18% that's your money watch log on to cbsnews.com for the latest business headlines in New York York I'm Alexis christopherus