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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, ...

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. (AP Photo/Ben Margot, File)

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 ...

Federal Reserve Chairman Ben Bernanke speaks during a news conference in Washington, Wednesday, June 19, 2013. Bernanke. The Federal Reserve said Wednesday that it will maintain the pace of its bond-buying program to keep long-term interest rates at record lows. But it offered a more optimistic outlook for the U.S. economy and job market. (AP Photo/Susan Walsh)

Fed suggests it's closer to slowing bond purchases

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 helped keep long-term interest rates at record lows. A pullback ...

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

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 ...

Trader Dudley Devine, foreground, uses his mobile phone and handheld device, as he works on the floor of the New York Stock Exchange Wednesday, June 19, 2013. Stocks edged lower in early trading on Wall Street Wednesday as investors waited for word from the Federal Reserve. (AP Photo/Richard Drew)

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 2014. The reaction by investors -- the Dow Jones industrial average fell more than 200 points and the yield on the ...

Fed Suggests Bond Purchases Could Slow

Fed Suggests Bond Purchases Could Slow

The Federal Reserve signaled Wednesday that it's moving closer to slowing its bond-buying program, but stressed that any end would be gradual and not based on specific triggers. (June 19)

In this June 11, 2013, photo, Sen. Chuck Grassley, R-Iowa, ranking Republican on the Senate Judiciary Committee speaks on Capitol Hill in Washington. Grassley says the Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic spending cuts. He says his office has learned that the IRS is executing an agreement with the employees’ union on Wednesday, June 19, 2013, to pay the bonuses. (AP Photo/Jacquelyn Martin)

IRS draws new criticism over $70M employee bonuses

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. The Obama administration has ordered agencies to cancel discretionary bonuses because of automatic spending cuts, but the IRS says it's merely following legal obligations ...

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