Clark and Thunell join board of Blackstone company

The Blackstone Group LP said Wednesday that General Wesley Clark and Lars Thunell have joined the board of its newly formed power development company Fisterra Energy.

Trader James Denaro works on the floor of the New York Stock Exchange Tuesday, June 11, 2013. Global stock markets were mostly lower Wednesday June 19, 2013 as investors waited for an update on the U.S. economy from the Federal Reserve.

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.

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.

FILE - In this Thursday, May 6, 1999 file photo, George Zimmer, second from left, gestures to Andy Dolich prior to a meeting, in Oakland, Calif. Men's Wearhouse Inc. says it has dismissed Zimmer, its founder and executive chairman. In a terse release issued Wednesday, June 19, 2013, the company didn't give a reason for the abrupt firing of Zimmer, who built Men's Wearhouse from one small Texas store using a cigar box as a cash register to one of the nation's largest specialty retailers in men's clothing, with 1,143 locations.

Men's Wearhouse ousts founder, pitchman Zimmer

Men's Wearhouse doesn't like the way its founder looks anymore. 1371673480

In this Tuesday, April 23, 2013, photo, a FedEx cargo planes comes in for a landing at the Juneau International Airport in Juneau, Alaska. On Wednesday, June 19, 2013, Fedex Corp. reports quarterly earnings.

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. 1371665152

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. 1371673479

Workers watch shipping and discharging of containers at a port in Tokyo, Wednesday, June 19, 2013. Japan's trade deficit rose nearly 10 percent in May to 993.9 billion yen (nearly $10.5 billion) as rising costs for imports due to the cheaper yen matched a rebound in exports.

Japan's trade deficit climbs to $10.5B in May

Japan's trade deficit rose nearly 10 percent in May to 993.9 billion yen (nearly $10.5 billion), highlighting the challenge Prime Minister Shinzo Abe faces in revitalizing manufacturing as industries increasingly shift production offshore. Photo Gallery Available

Correction: Dish-Sprint story

In a story June 18 about Dish Network Corp.'s announcement that it will not submit a revised bid to purchase Sprint Nextel Corp., The Associated Press reported erroneously that Softbank's competing bid for Sprint falls short of Dish's. In fact, the two offers are not directly comparable. Softbank is offering $21.6 billion for a 78 percent stake in Sprint. Dish is proposing to buy all of Sprint for $25.5 billion. 1371665153

SEC to require mea culpas in some big settlements

The chairman of the Securities and Exchange Commission says the agency will start requiring companies and individuals to admit wrongdoing in some big settlements.

This March 6, 2012 photo provided by the law offices of Butler, Wooten & Fryhofer, LLP shows the scene of a crash in Bainbridge, Ga., where a 4-year-old boy named Remi Walden was burned and died when a Jeep Grand Cherokee was struck from the rear by a Dodge Dakota pickup truck. Chrysler is expected to file papers Tuesday, June 18, 2013, explaining why it’s refusing to recall 2.7 million older Jeep SUVs.

Chrysler agrees to recall of Jeeps at risk of fire

After initially defying federal regulators, Chrysler abruptly agreed Tuesday to recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Photo Gallery Available

Taco Bell jumps on protein craze with menu test

Taco Bell plans to test a "Power Protein" menu that it's hoping will eventually be hit with its core audience - young men.

News Summary: Chrysler agrees to recall 2.7M Jeeps

CHRYSLER CAVES: Chrysler reversed course and agreed to recall 2.7 million Jeeps Tuesday. The company insists the vehicles are safe, and initially denied the government's request to recall them. But it says it realizes customers are worried.

In this Monday, June 10, 2013 photo, trader Edward Landi check a screen in a booth on the floor of the New York Stock Exchange. Global stock markets traded fitfully Tuesday June 18, 2013 as investors watched for signs of a possible change in U.S. stimulus efforts by the Federal Reserve.

Stocks slide as Fed says bond purchases could slow

Stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year. 1371673033 Photo Gallery Available

Court: Ex-Im Bank needs to explain Air India loan

A federal bank that backed a huge airplane loan for Air India will have to explain that the loan didn't hurt U.S. airlines.

Metals decline as traders wait for Federal Reserve

Metal prices fell as traders anticipate that the Federal Reserve may start easing its support for the economy.

Fed suggests it's closer to slowing bond purchases

The Federal Reserve signaled Wednesday that it's moving closer to slowing its bond-buying program, which is intended to keep long-term interest rates at record lows. 1371670261 Photo Gallery Available

Chrysler agrees to recall of Jeeps at risk of fire

Chrysler abruptly agreed to recall 2.7 million older model Jeeps Tuesday, reversing a defiant posture and avoiding a possible public relations nightmare over fuel tanks that can catch fire in a rear-end collision.

Treasury unveils Lew's improved signature

Treasury Secretary Jacob Lew won't win any prizes in penmanship, but his official signature which will go on the nation's currency is at least a slight improvement over the loopy scrawl he had a few months ago. Photo Gallery Available

United adds spending requirement for elite status

United Airlines is making it a little harder to get a higher frequent-flier status.

'Time to make the doughnuts' ad is over

Don't expect to see Dunkin' Donuts revive its famous "Time to make the doughnuts" ad campaign anytime soon.

National Business

Clark and Thunell join board of Blackstone company

Stocks edge lower as investors wait for the Fed

Cyprus okays gas plant deal with Noble, Delek

Men's Wearhouse ousts founder, pitchman Zimmer

FedEx 4Q profit drops as priority services lag

Oil down slightly as Fed signal easing of stimulus

Japan's trade deficit climbs to $10.5B in May

Correction: Dish-Sprint story

SEC to require mea culpas in some big settlements

Chrysler agrees to recall of Jeeps at risk of fire

Taco Bell jumps on protein craze with menu test

News Summary: Chrysler agrees to recall 2.7M Jeeps

Stocks slide as Fed says bond purchases could slow

Court: Ex-Im Bank needs to explain Air India loan

Metals decline as traders wait for Federal Reserve

Fed suggests it's closer to slowing bond purchases

Chrysler agrees to recall of Jeeps at risk of fire

Treasury unveils Lew's improved signature

United adds spending requirement for elite status

'Time to make the doughnuts' ad is over

VIDEO