A Week's Worth
• Market jitters: The Federal Reserve's quarter-point hike in interest rates and warnings about inflation boosted yields on bonds, especially riskier issues, and pushed down stocks. The Dow is down 3.2 percent for the year; other major indexes have fared worse.
• B-class investors: The battered mutual-fund industry was hit with more charges, as federal and industry regulators levied fines totaling $81 million against three large brokerages and a fund company. The reason: Investors were steered into buying funds that benefited their brokers, often at the investors' expense. Citigroup, J.P. Morgan Chase, and American Express Financial Advisors settled charges that they sold high-fee Class B shares of mutual funds instead of cheaper classes of the same funds. Putnam Investments settled charges that it didn't tell its board it was rewarding brokerages for promoting its products.
• The best entrepreneur? At a retreat for entrepreneurs, an Inc. magazine survey found that 38 percent admired PC titan Michael Dell compared with 23 percent for software giant Bill Gates. Nearly half picked Vice President Dick Cheney as the person most suited to run a company, followed by Oprah Winfrey (16 percent) and New England Patriots coach Bill Belichick (15 percent).
• Starbucks gets the boot: Ethical investing pioneer, Pax World Funds, sold $23.4 million worth of the coffee chain's stock because of its deal with whiskeymaker Jim Beam to sell a coffee-based alcoholic beverage.