ABC NEWS AT THE TOP OF EACH HOUR & CNN AT THE BOTTOM

DCSIMG
AP Top Business News At 3:21 a.m. EDT

Sony chief says time needed to study proposal
TOKYO (AP) -- 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....

Men's Wearhouse ousts founder, pitchman Zimmer
NEW YORK (AP) -- Men's Wearhouse doesn't like the way its founder looks anymore....

Fed suggests it's closer to slowing bond purchases
WASHINGTON (AP) -- 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....

Car quality dinged by tech glitches, survey finds
DETROIT (AP) -- 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....

Stocks slide as Fed says bond purchases could slow
NEW YORK (AP) -- 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....

5 points to know about the health care overhaul
Still a little hazy about the health care overhaul? You have plenty of company....

IRS draws new criticism over $70M employee bonuses
WASHINGTON (AP) -- Already reeling from a pair of scandals, the Internal Revenue Service is drawing new criticism over plans to hand out millions of dollars in employee bonuses....

House to vote on cuts to crop insurance
WASHINGTON (AP) -- The House will vote Thursday on whether to cut federally-subsidized crop insurance that helps farmers when they lose crops or revenue....

GAO says airline merger would reduce competition
DALLAS (AP) -- 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....

FedEx 4Q profit drops as priority services lag
DALLAS (AP) -- 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....

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Up to the Minute
Bernanke clarifies Fed plan to cut bond purchases

GAO says airline merger would reduce competition

Men's Wearhouse ousts founder, pitchman Zimmer

How Fed policymakers affect the economy

Fed's moves to aid economy since financial crisis

Bluebird Bio shares rocket higher in trading debut

FedEx 4Q profit drops as priority services lag

News Summary: Men's Wearhouse ousts founder

News Summary: Dow slides 206 points on Fed

Gold and grain futures higher







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