Business briefs

Wary Fed keeps rates low

The Federal Reserve signaled Tuesday that it is worried about the weakness of the recovery and is ready to take further steps to boost the economy if needed. Fed officials said they are also concerned that sluggish economic growth could prevent prices from rising at a healthy rate. But they held off on taking any new steps to rejuvenate the economy and drive down unemployment. Instead, the Fed hinted it is prepared to see if the economy can heal itself. The Fed left a key short-term rate near zero, where it has been since December 2008. It also repeated a pledge to hold rates at ultra-low levels for an "extended period."

Nu Horizons board inquiry

Some shareholders have reacted to the announcement that Arrow Electronics Inc. is buying Nu Horizons Electronics Corp. by threatening litigation. Arrow said Monday that it would buy Nu Horizons in an all-cash deal, paying $7 a share. Both companies are based in Melville. But Manhattan-based law firm Levi & Korsinsky Llp and Robbins Umeda Llp in San Diego say they have launched investigations into the Nu Horizons board for "possible breaches of fiduciary duty." The company did not have an immediate response to the firms' actions. - EMI ENDO

New MetroPCS tech debuts

MetroPCS Communications Inc., a regional cell phone carrier with 7.6 million subscribers, Tuesday became the first U.S. carrier to use a new network technology that provides faster data access and is expected to become the industry standard. Dallas-based MetroPCS turned on 4G Long Term Evolution, or LTE, service in Las Vegas, and said it aims to turn on LTE across its entire network by January.

Stocks mixed on Fed news

Stocks got a brief bump following word the Federal Reserve is ready to do more to help the economy, but they ended mostly lower Tuesday after the central bank disappointed some by not taking bold new actions. The Dow rose 7.41 points, or 0.07 percent, to close at 10,761.03. The Standard & Poor's 500 slipped 2.93, or 0.26 percent, to 1,139.78, while the Nasdaq composite fell 6.48, or 0.28 percent, to 2,349.35.

- From staff and wire reports