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Fed suggests it’s closer to slowing bond purchases
WASHINGTON (AP) — 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. Chairman Ben Bernanke said the Fed could start scaling back its $85 billion in monthly bond purchases later this year if the economy continues to improve.
Christian conservatives get testy over Kraft’s ‘Zesty’ dressing ad
A Kraft Foods ad campaign, featuring a nearly fully exposed buff model sprawled on a picnic blanket has raised the ire of Christian conservatives. “Shame on Kraft,” One Million Moms says on its website, calling for Kraft to discontinue the ad campaign immediately.
OfficeMax wants tax breaks to stay in Illinois
OfficeMax Inc. is asking the state of Illinois for tax breaks to keep the company’s headquarters in-state after the office supply chain’s merger with Office Depot Inc. is complete.
Report: Banks fall short in helping struggling homeowners
A new report says homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation’s top mortgage servicers. Such delays can plunge borrowers deeper in debt.
18 mayors: Limit use of food stamps to buy soda
The mayors of New York, Los Angeles, Chicago and 15 other cities are reviving a push against letting food stamps be used to buy soda and other sugary drinks. The U.S. Department of Agriculture, which runs the food stamp program, declined to comment.
GM breaks ground on China Cadillac plant
General Motors Co. executives broke ground for a new Cadillac factory in China on Wednesday to target luxury buyers in the world’s biggest auto market, though they said the segment would grow slower than expected this year.
FedEx 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. Excluding charges, the results still beat Wall Street expectations.
Men’s Wearhouse ousts founder, pitchman Zimmer
Men’s Wearhouse Inc. says it has dismissed its founder and executive chairman George Zimmer. In a terse release issued Wednesday, the company didn’t give a reason for the abrupt firing of Zimmer, who founded the chain in 1973.
Study: Wiser medication use could cut health costs
If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude.
United 787 heading to Tokyo diverted to Seattle
A Boeing 787 flying from Denver to Tokyo was diverted to Seattle because of an oil filter issue, a United Airlines spokeswoman said Wednesday.
Stocks slip as Fed says bond purchases could slow
Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge bond-buying program later this year and end it by the middle of 2014.
With Samsung, Jay-Z’s business continues to boom
Jay-Z’s partnership with Samsung for his new album, “Magna Carta Holy Grail,” is another sign of how musicians are finding new ways to push, sell and promote their music, and how the multiplatinum performer leverages his enduring popularity into a successful brand.
‘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. Paul Carbone, chief financial officer for Dunkin’ Brands Group Inc., said Tuesday that the company gets asked all the time when it’s going to bring back the ad starring the perpetually tired baker who gets up early every morning to make doughnuts. “He’s not coming back,” Carbone said.
Syrian pound tumbles on US plans to arm rebels
DAMASCUS, Syria (AP) — Many exchange shops closed in Damascus on Tuesday, fearing more chaos a day after the Syrian currency plunged to a new record low, reflecting growing fears in the capital following a U.S. decision to arm rebel groups fighting to topple President Bashar Assad’s regime.
Chrysler agrees to recall of Jeeps at risk of fire
DETROIT — Chrysler says it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire. Earlier this month the company refused the government’s request to recall the Jeeps. …
