Business
Stocks slide as Fed says bond purchases could slow
Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of next. The sharp reaction in markets, especially in the 10-year Treasury note, showed just how much investors have come to depend ...
Sony chief says time needed to study proposal
Sony Corp. needs more time to study a key proposal from a U.S. hedge fund to spin off a part of its entertainment unit as a way to propel its fledgling revival, the chief executive told shareholders Thursday. Sony Chief Executive Kazuo Hirai was speaking to a Tokyo hall packed ...
GAO says airline merger would reduce competition
A government review finds that the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers. That's a greater loss of competition than occurred with the 2010 merger of United Airlines and Continental Airlines, an analyst for the ...
House votes to cut food stamps by $2 billion
The House voted on Wednesday to cut food stamps by $2 billion a year as part of a wide-ranging farm bill. The chamber rejected 234-188 a Democratic amendment to the five-year, half-trillion-dollar farm legislation that would have maintained current spending on food stamps, now called the Supplemental Nutrition Assistance Program, ...
Fed suggests it's closer to slowing bond purchases
In a move that could send interest rates higher, Fed Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program this year and end it next year because the economy is strengthening. The Fed's purchases of Treasury and mortgage bonds have ...
Men's Wearhouse ousts founder, pitchman Zimmer
Men's Wearhouse doesn't like the way its founder looks anymore. The men's clothier said Wednesday that it fired executive chairman and face of the company George Zimmer, 64, who has appeared in many of its TV commercials with the slogan "You're going to like the way you look. I guarantee ...
Bluebird Bio shares rocket higher in trading debut
Shares of gene therapy developer Bluebird Bio Inc. surged in their trading debut. Its shares climbed $9.91, or 58.3 percent, to close at $26.91 Wednesday after trading as high as $27 earlier in the session. The company's initial public offering of 5.94 million shares had been priced Tuesday at $17 ...
FedEx 4Q profit drops as priority services lag
FedEx Corp.'s fourth-quarter profit fell 45 percent as international customers traded down to less-expensive delivery options and the company spent heavily on restructuring. FedEx said 3,600 employees will take voluntary buyouts and nearly half of them have already left. The company is also retiring older airplanes. Excluding charges related to ...
Coiffed Cattle Get Their Close-up
A longtime beauty practice in the livestock industry gains Internet attention. So-called 'fluffy cows' are the rage out on the range. (June 19)
Officials: Urban Outfitters pulls pill glasses
Retailer Urban Outfitters Inc. has responded to a multi-state campaign and stopped selling flasks, shot glasses and pint glasses that look like prescription pill bottles, political leaders in drug-plagued Kentucky said Wednesday. The state's top leaders, including Gov. Steve Beshear and Republican U.S. Rep. Hal Rogers, chairman of the powerful ...
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