BUSINESS BRIEFS

'Circuit breakers' approved

Federal regulators on Friday expanded the number of stocks covered by new "circuit breakers" that can pause volatile trading, a program in response to the panicked May 6 market plunge. The Securities and Exchange Commission approved expansion of the six-month pilot programs for stocks in the Standard & Poor's 500 index. All stocks in the Russell 1000 index also will be covered.

Aceto get new CEO

Aceto Corp. of Lake Success has a new chief executive. He's Albert Eilender, and he will also assume the job of executive chairman of the board. At the same time, the company board named Vince Miata - who had been chief executive - as chief operating officer. Miata will keep his title as president. The changes are immediate, the company said in a news release.- Joseph Mallia

Economy drives up stocks

Stocks edged higher Friday, extending a rally that began nearly two weeks ago, as investors hold on to their newfound optimism about the economy. The Dow Jones industrial average rose 47.53, or 0.5 percent, to close at 10,462.77. The Standard & Poor's 500 index rose 5.37, or 0.5 percent, to 1,109.55, while the Nasdaq composite index rose 6.28, or 0.3 percent, to 2,242.48.

Oil prices surge

Oil prices surged Friday after a pipeline that delivered oil to Midwest refineries was shut down, raising questions about how long the supply may be disrupted. Benchmark oil for October delivery rose $2.20 to settle at $76.45 a barrel on the New York Mercantile Exchange. Enbridge Energy Partners Lp closed the pipeline Thursday after it began leaking in Chicago.

U.S. widens HP probe

U.S. investigators have widened their probe of alleged kickbacks paid to Russian authorities by employees of a Hewlett-Packard Co. subsidiary in Germany. Authorities in Russia, Germany and the United States have been looking into alleged bribes totaling $11 million paid to secure a $44.5 million contract that ran from 2001 until 2006. Now, the Securities and Exchange Commission is also investigating governmental and "quasi-governmental" transactions in Russia dating to 2000, according to a quarterly financial statement the computer maker filed Thursday. HP says it is cooperating.

Nokia replaces CEO

Nokia Corp. is replacing chief executive Olli-Pekka Kallasvuo with Microsoft executive Stephen Elop as the world's top maker of mobile phones aims to regain lost ground in the fiercely competitive smart phone market. The choice of a North American executive to lead a Finnish company reflects the increasing dominance of U.S. and Canadian companies in the evolution of the phone business. Analysts welcomed the choice of the Canadian, 46, who has worked closely with Nokia at Microsoft and at Macromedia Inc. developing software for Nokia phones. He takes over Sept. 21, Nokia said Friday.

- From wire reports