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Today's Top 4 Business Stories

bankingMore oversight on commoditiesThe Federal Reserve has expanded its scrutiny of banks' physical commodities operations to encompass businesses run by Goldman Sachs and Morgan Stanley that Congress had previously authorized. The appraisal, intended to minimize potential risks to the financial system, widened since the Fed said in July that it's reconsidering its landmark 2003 decision to grant some lenders, such as Citigroup and JPMorgan Chase, permission to expand into raw materials. auto industryFord, Chrysler sales increaseFord and Chrysler overcame a quirk in the industry sales calendar to post surprise U.S. gains for September, while others, including General Motors and Toyota, slumped more than predicted. Opening arguments in the insider trading trial of billionaire investor Mark Cuban began here Tuesday with government lawyers portraying the defendant as a ferocious competitor who, with an unfair advantage over the investing public, sold shares illegally. (Reuters) - Detroit on Tuesday defaulted on more than $600 million of general obligation bonds deemed unsecured by the city's emergency manager, a city spokesman said. The state's attorney general said the airlines had agreed to maintain present levels of service in the state and to keep the Texas headquarters.

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