Business briefs

Barnes & Noble keeping its CEO

Barnes & Noble Inc.'s shareholders voted to keep chairman Leonard Riggio on the board of the company he founded, rejecting an attempt at his ouster by activist investor Ron Burkle's Yucaipa Cos. to shake up the largest U.S. bookstore chain, which may be sold. Riggio, the biggest shareholder, was re-elected to the nine-member board with less than 50 percent of votes cast, Yucaipa said in a statement.

Labor leader in corruption probe

The FBI and Labor Department are investigating labor leader Andy Stern in a probe of corruption at the Service Employees International Union, according to two people who have been interviewed by federal agents. The agents asked about Stern's role in approving money to pay the salary of an SEIU leader in California who performed no work and a book contract Stern landed in 2006. Stern abruptly resigned as president of the 2.2-million member SEIU in April. He issued a statement calling reports of an investigation "simply false."

Mini Cooper safety inquiry opens

The government has opened an investigation into potential power steering problems in automaker BMW's Mini Coopers. The National Highway Traffic Safety Administration said Tuesday on its website that it had received 54 complaints regarding the 2004-2005 model years. The preliminary investigation covers about 80,000 Mini Coopers. BMW did not immediately comment on the investigation.

CA set to acquire Hyperformix

Islandia-based CA Technologies said Tuesday that it is buying Hyperformix, a Texas software company that will help advance its virtualization product line. Virtualization is a method of reducing software, hardware, energy, maintenance and floor-space costs. CA did not say how much it proposes to pay for Hyperformix. - Joseph Mallia

Late rally bolsters Wall Street

A late push gave stocks moderate gains Tuesday as investors brushed off news that consumer confidence dropped to its lowest level since February. The Dow Jones industrial average, on track for its best September since 1939, rose 46.10 points, or 0.4 percent, to 10,858.14. The Standard & Poor's 500 index rose 5.54, or 0.5 percent, to 1,147.70, while the Nasdaq composite index rose 9.82, or 0.4 percent, to 2,379.59.

From staff and wire reports