Business

Fed says it will end stimulus next year

WASHINGTON – The Federal Reserve chairman, Ben S. Bernanke, said Wednesday that the central bank intended to reduce its monetary stimulus later this year — and end the bond purchases entirely by the middle of next year — if unemployment continued to decline at the pace that the Fed expected.

State jobless rate falls to 6.8 percent

Washington state’s unemployment rate dropped to 6.8 percent last month and the state added an estimated 4,100 jobs, officials with the Employment Security Department said Wednesday.

Dolce and Gabbana convicted of tax evasion

A Milan court on Wednesday convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion.

FedEx Q4 profit drops 45 percent

FedEx Corp.’s fourth-quarter profit fell 45 percent.

LA’s initial order for student iPads: $30M

Los Angeles’ school system, the second largest in the United States, is ordering iPads for all its students, handing Apple a major success in its quest to make the tablet computer a replacement for textbooks.

Porsche tops in annual survey of vehicle quality

Porsche is the top performer in an annual survey of new vehicle quality.

3-D printer deal might make them affordable

Stratasys, a leading maker of 3-D printers, is buying another 3-D printer manufacturer, MakerBot, for $403 million in stock. Stratasys Ltd. says the acquisition will enable it to offer affordable desktop 3-D printers.

Boeing reveals 102 orders for 787-10, but not production site

At the Paris Air Show on Tuesday, as expected, Boeing Co. launched the final and largest member of its Dreamliner jet family, the 787-10.

Consumer prices rise just 0.1 percent in May

U.S. consumer prices rose slightly last month, as higher energy costs partly offset cheaper food. The small increase is further evidence that consumers are benefiting from mild inflation.

Home construction rises 6.8 percent

U.S. builders stepped up home construction in May and applied for permits to build single-family homes at the fastest pace in five years. The gains show housing remains a key source of growth for the economy.