CNN's Maribel Aber has your top business and financial news on this Wednesday, June 21st. Click on the THVideo above!
Bernanke 'prepared' to do more
NEW YORK (CNNMoney) -- Could more stimulus be on the way? Federal Reserve Chairman Ben Bernanke certainly left the option on the table Wednesday, making perfectly clear that he stands ready to do more should the U.S. economy take a turn for the worse. "In case things get worse, we are prepared to protect the U.S. economy and financial system," Bernanke told reporters at a press conference. It was a point he reiterated several times and a sign that many outsiders took to mean the Fed has left the door open on a third round of asset purchases known as quantitative easing, or QE.
Partisan reality check on tax reform
NEW YORK (CNNMoney) -- An analysis from Senate Democrats released Wednesday found that many in the middle class could pay more under a House Republican tax reform proposal than they do today, while the uber-rich would pay less. The analysis -- while partisan -- highlights a hard truth that both parties skate over when discussing the glories of tax reform: Lower rates will come at a cost. And someone will have to pay. House Republicans have proposed reducing the number of income tax rates to just two: 10% and 25%. They also want to eliminate the Alternative Minimum Tax. To help make up for trillions of dollars in lost revenue, Republicans would "broaden the base" -- meaning they would close tax loopholes and get rid of or reduce other breaks in the code.
Coca-Cola to Distribute High-Protein Milk Shake in U.S.
Coca-Cola Co. KO -0.24% is moving into dairy products in the U.S. through a distribution pact for a high-protein workout-recovery shake for athletes and fitness buffs. The beverage giant will deliver Core Power, a small drink brand owned by a cooperative of nearly 90 family-owned dairies, to stores in a handful of states on its trucks starting in July. The move coincides with a heightened marketing push by Coke's chief beverage rival, PepsiCo Inc., PEP -0.58% which sells different versions of its industry-leading Gatorade sports drink for before, during and after workouts. PepsiCo also is launching a yogurt brand in the U.S. this summer with Theo Mueller Group, a German joint venture partner, as part of its expansion into dairy.
Sharp unveils 'world's biggest' LED TV
It may not be that simple. We know of at least a couple of plasma screens that are larger. But with a 90-inch screen, Sharp may have just rolled out the biggest LED high-def television on the market. The new Aquos LED TV, unveiled Tuesday, stands 4 feet tall and is 6 feet, 8 inches across. Despite all that, Sharp brags, the set is less than 5 inches thick and weighs 141 pounds (considerably less than an NBA forward). It could be yours for $10,999.99.