Business Briefs

Bargain hunters prevail on Wall Street

NEW YORK —Stocks reversed a steep sell-off to end mostly higher Friday as fears about a worrisome jobs report gave way to bargain hunting in sectors like the financial industry and consumer staples.

Wall Street initially fell after the Labor Department said payrolls shrank more than predicted last month and that the jobless rate hit a five-year high. But stocks that had been pounded lower, including a huge drop Thursday, were suddenly more attractive to investors willing to make some bets. For the week, the Dow Jones industrial average lost 2.8 percent, the S&P 500 gave up 3.2 percent and the technology-heavy Nasdaq fell 4.7 percent. The three indexes remain in bear market territory, down from their October highs.

Talks fail, Boeing machinists to strike

SEATTLE — Despite a 48-hour contract extension, negotiations between Boeing Co. and Machinists union officials have failed and the union says a strike is set to begin at 12:01 a.m. PDT today.

Boeing spokesman Tim Healy says the company is open to further discussion, but both sides were too far apart to reach agreement.

The Machinists bargain on behalf of about 27,000 workers.

Workers voted this week to reject Boeing's contract and strike, mainly over job security. Both sides agreed to the extension at the request of Gov. Chris Gregoire.

BMW's group sales rise 2% in August

FRANKFURT, Germany — BMW AG's sales in August increased 2 percent over the same period a year ago, with the Mini and Rolls Royce brands the main contributors, the automaker said Friday.

Sales of BMW models were flat last month versus a year ago, but Mini sales were up nearly 11 percent and Rolls Royce sales increased by 23 percent. BMW operates its only North American manufacturing plant near Spartanburg. It also is a major customer of the Port of Charleston.

Continental joins baggage-fee club

DALLAS — Continental Airlines said Friday it is charging some coach customers $15 for a first checked bag, matching a similar fee imposed by most other major U.S. carriers.

The carrier, which serves Charleston, said the fee would help offset high fuel costs.

The fee does not apply to elite members of its frequent-flier program, first- or business-class passengers, customers traveling on full-fare economy tickets or military personnel and their families traveling on official orders.

Continental's decision leaves Delta Air Lines as the only holdout among the nation's six legacy carriers.

Force Protection gets $7.2M Marines order

Ladson-based armored truck maker Force Protection Inc. said Friday it has received a $7.2 million contract from the U.S. Marine Corps for five reduced-weight Cougar vehicles. The company said the order was "in response to an urgent request to develop vehicles providing enhanced mobility while maintaining survivability."

Force Protection said the modified Cougars will "incorporate significant amounts of design and technology" used in its smaller, faster Cheetah vehicle.