The Fed chief warned of the risks of a long slowdown and higher inflation as the president, speaking nearby, said the country’s economic pillars remained sound. Read more..

By STEVEN R. WEISMAN - The New York Times

Problems linked to the braking system of Boeing’s much-delayed 787 Dreamliner conspired with a dearth of new orders from Western airlines to darken the mood at the aerospace industry’s showcase event. Read more..

By CAROLINE BROTHERS - The New York Times

The Burberry Group, a luxury goods retailer, said first-quarter sales rose 22 percent on shipments of autumn and winter goods to wholesale distributors in emerging markets. Read more..

By BLOOMBERG NEWS - The New York Times

Countrywide Home Loans has agreed to pay $325,000 to settle a case that accused the lender of abusive practices in almost 300 mortgage loans overseen by the court. Read more..

By GRETCHEN MORGENSON - The New York Times

At a Congressional hearing, Google and Yahoo lawyers argued that their advertising partnership did not violate antitrust laws and would help to keep Yahoo competitive. Read more..

By AUSTIN BOGUES - The New York Times

Sprint Nextel is in early talks to form a partnership with SK Telecom of South Korea to share information about new mobile phones and other technology. Read more..

By LAURA M. HOLSON and MICHAEL J. de la MERCED - The New York Times

G.M. said that it would reduce labor costs for salaried workers by 20 percent and further cut truck production. Read more..

By BILL VLASIC - The New York Times