•Companies

Fannie Mae restructures management: Mortgage finance giant Fannie Mae shook up its executive ranks yesterday, after shares in it and sibling company Freddie Mac rose for a third straight day as investors appeared less certain a government bailout of the two troubled companies is imminent. Fannie Mae, the largest buyer and backer of U.S. home mortgages, said its chief financial officer and two other top executives are leaving the company. Three current executives were promoted to replace them. Fannie chairman Stephen B. Ashley said in a statement that board members remain “firmly committed” to chief executive officer Daniel Mudd. (Associated Press)

Bankruptcies near 1 million: Nearly 1 million individuals and businesses filed bankruptcy in the 12 months ended June 30, according to U.S. Court data released yesterday. There were 967,831 bankruptcy cases filed since July 1, 2007, up 28.9 percent from the prior 12 months, when cases totaled 751,056. Non-business filings made up 96.5 of those cases, totaling 934,009. Of those cases, which represent individuals, 592,376 were Chapter 7 filings, which involve liquidation of nonprotected assets, like family homes. The total also included 340,852 filings for Chapter 13 protection, which allows an individual to reorganize finances and pay down debt. On the business side, a total of 33,822 cases were filed in the 12-month period, including 23,372 under Chapter 7, which allows for an orderly shutdown of the business. (Associated Press)

•Markets

Dollar uneven: The dollar closed mixed against major currencies yesterday in New York, ending at 109.65 Japanese yen, up from Tuesday’s close of 109.63 yen. The euro closed at 3:30 p.m. at $1.4712, up from $1.4650.

Metals mixed: Gold for current delivery closed at $828.10 a troy ounce on the New York Mercantile Exchange, up from Tuesday’s close of $822.20. Silver closed at $13.468 an ounce, down from $13.572.

Fuels rise: October light, sweet crude oil rose $1.88 to $118.15 a barrel on the New York Mercantile Exchange. September heating oil rose 5.18 cents to $3.2617 a gallon. September gasoline rose 9.75 cents to $3.0672 a gallon. September natural gas rose 11.6 cents to $8.394 per 1,000 cubic feet.

Associated Press