Business Briefly 5/16

FBI probes possible insider trading

WASHINGTON (AP) " Federal prosecutors and the FBI have been investigating possible illegal insider trading by two Securities and Exchange Commission enforcement attorneys who were in a position to receive sensitive information about agency probes of public companies.

The SEC's inspector general, David Kotz, found that the frequent stock trades over a two-year period by the pair raised suspicions of insider trading. Earlier this year, he referred the matter to the Fraud and Public Corruption Section of the U.S. attorney's office.

DOE chief announces billions for clean coal

WASHINGTON (AP) " Energy Secretary Steven Chu says he will provide $2.4 billion from the economic recovery package to speed up development of technology to reduce greenhouse gas emissions from power plants and factories that burn coal.

Chu told a meeting of the National Coal Council on Friday that it's essential that ways are found to capture carbon dioxide from coal-burning power plants and industrial sources. Carbon dioxide from burning fossil fuels is the leading greenhouse gas blamed for global warming.

Chu said coal will remain an essential energy source.

Industrial production dips; prices steady

WASHINGTON (AP) " More evidence emerged Friday that the recession is easing, with output by the nation's factories, mines and utilities falling at the slowest pace in six months.

At least one area of the economy is flat, but that's welcome news. The Labor Department said consumer prices were level in April after a slight dip the prior month.