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. 1371687294

Car quality dinged by tech glitches, survey finds

Car buyers increasingly want high-tech features like voice recognition and navigation. But they're not very forgiving of the car company when those systems fail. 1371680644
Bernanke: Fed could reduce bond buys this year

Chairman Ben Bernanke says the Federal Reserve could scale back its $85 billion in monthly bond purchases later this year if the economy continues to improve.
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. 1371683122
Bernanke declines to address future at the Fed

Ben Bernanke declined Wednesday to address speculation that he will step down as chairman of the Federal Reserve in January when his term ends, saying he wanted to keep the attention on Fed policy.
Fed sees lower US unemployment, more growth

The Federal Reserve sketched a slightly brighter picture of the U.S. economy this year and next, a sign it is moving closer to slowing its bond-buying program.
Fed's moves to aid economy since financial crisis

The Federal Reserve has taken many unprecedented steps in the past four years to try to boost the U.S. economy and counter the effects of a financial crisis that triggered a painful recession. It has kept the short-term interest rate it controls at a record low near zero since December 2008. 1371684225
Thailand cuts rice subsidy price after $4.4B loss

Thailand will pay farmers 20 percent less for rice to stem losses from a much-criticized subsidy program that dislodged the country from its spot as the world's No. 1 exporter of the grain, a government minister said Wednesday.
Cyprus okays gas plant deal with Noble, Delek

Cyprus' deputy government spokesman says the Cabinet has ratified a preliminary agreement with U.S. firm Noble Energy and its Israeli partners Delek Drilling and Avner Oil Exploration on their participation in the development of a planned natural gas processing facility.
News Summary: Dow slides 206 points on Fed

EASING BACK: Stocks slid and bond yields rose sharply after Federal Reserve Chairman Ben Bernanke said the central bank could start to pull back on its bond purchases later this year if the economy improves enough, and end the program by mid-2014.
News Summary: Assange still in Ecuadorean Embassy

BACK STORY: A year ago, Julian Assange skipped out on a date with Swedish justice. Rather than comply with a British order that he go to the Scandinavian country for questioning about sex crimes allegations, the WikiLeaks founder took refuge in the Ecuadorean Embassy in London.
Text of the Federal Reserve's statement Wednesday

Here is the statement the Federal Reserve released Wednesday after its two-day policy meeting:
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. 1371698157
How Fed policymakers affect the economy

The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy. 1371684549
Oil down slightly as Fed signal easing of stimulus

The price of oil fell slightly Wednesday as the Federal Reserve indicated it's closer to easing up on economy boosting measures that have been a boon for commodities.
Gold and grain futures higher

Gold ended higher and grain contracts climbed in Wednesday trading.
Comparing US Fed's views on economy, spending

A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting on April 30-May 1:
Top performing models in 2013 auto quality survey

J.D. Power and Associates released its annual survey of vehicle quality Wednesday. The survey asked drivers about problems with 2013 model-year vehicles in the first 90 days of ownership.
Stocks edge lower as investors wait for the Fed

Stocks are edging lower in early trading on Wall Street as investors hold back ahead of a policy announcement from the Federal Reserve.
News Summary: Men's Wearhouse ousts founder

THE NEWS: Men's Wearhouse Inc. says Wednesday it dismissed its founder and executive chairman George Zimmer, who appeared in many of its TV commercials with the slogan, "You're going to like the way you look. I guarantee it."