By Chikako Mogi and Wayne Cole TOKYO/SYDNEY (Reuters) - Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second-largest economy hit a nine-month low. Shares, currencies and commodities all crumbled as spooked investors rushed to unwind crowded trades in emerging markets. Central banks across the region were busy intervening trying to put out spot fires, but with only limited success. ...

By Kevin Yao BEIJING (Reuters) - China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening the risk of a sharper second quarter slowdown and increasing the heat on the central bank to loosen policy. China's economy grew at its slowest pace for 13 years in 2012 and so far this year data has been weaker than expected, bringing warnings the country could miss its growth target of 7.5 percent for this year, though possibly not by much. ...

By Mari Saito TOKYO (Reuters) - Sony Corp shareholders pressed its chief executive for a response to hedge fund Third Point's proposal for a partial spinoff of its profitable entertainment arm but Kazuo Hirai pleaded for patience as management reviews the bold plan. Daniel Loeb, the billionaire hedge fund manager of Third Point and Sony's top shareholder, wants the electronics empire to sell to the public as much as one-fifth of its entertainment units and use the proceeds to bolster its struggling hardware divisions. ...

By Alister Bull and Pedro da Costa WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year. Bernanke's confirmation that the Fed is getting closer to pulling back on its $85 billion in monthly asset purchases confirmed investor fears, sending stocks and bonds sharply lower and pushing benchmark Treasury yields to a 15-month high. ...

TOKYO (Reuters) - Sony Corp CEO Kazuo Hirai said on Thursday that the electronics firm's board will consider hedge fund Third Point's suggestion to spin-off the electronics company's profitable entertainment arm. Hirai made the comments at an annual shareholders' meeting in Tokyo. Hirai said it was important for Sony to revitalize its electronics division as well as to continue growth of its entertainment and financial businesses, which have steadily contributed profits to the overall group. (Reporting by Mari Saito; Editing by Edmund Klamann)

By Sinead Carew and Liana B. Baker NEW YORK (Reuters) - Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network Corp, controlled by feisty billionaire Charlie Ergen. Shareholders of Clearwire, already majority owned by Sprint, will vote on June 24 on Sprint's $3.40-a-share offer to buy the rest of the company. But Clearwire's board has recommended shareholders instead accept a higher, $4.40-a-share tender offer from Dish. ...

By Michelle Sierra NEW YORK (Reuters) - Carl Icahn reiterated his interest in owning Dell Inc and said the $5.2 billion in financing he's putting together to back his bid for the company continues to move forward as planned. The comments came in a telephone interview Tuesday, echoing statements he made earlier in the day in an open letter to Dell shareholders. "Nothing has changed regarding the financing," Icahn said. "We expect to have $5.2 billion in the next couple of weeks. Our investment bank is already committing $1.6 billion and my affiliates and I would provide $2 billion, if ...

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.

NEW YORK (AP) — Men's Wearhouse doesn't like the way its founder looks anymore.

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.

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.

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.

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.

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.

CHAMPAIGN, Ill. (AP) — OfficeMax Inc. and Office Depot Inc. want Illinois and Florida to compete to be the home of their combined headquarters if their proposed merger is approved by offering the best package of tax breaks that they can.