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BC-APFN-Business News Digest

Business News at 5 p.m.

The supervisor is Richard Jacobsen (800-845-8450, ext. 1680). For photos, ext. 1900. For graphics and interactives, ext. 7636. Expanded AP content can be obtained from http://www.apexchange.com. For access to AP Exchange and other technical issues, contact customersupport@ap.org or call 877-836-9477.

If you have questions about transmission of financial market listings, please call 800-3AP-STOX.

A selection of top photos can be found at: http://bit.ly/APTopPhotos.

All times EDT.

a¿¿Adds: FEDERAL RESERVE-COMPARING STATEMENTS, ARGENTINA-DEBT SHOWDOWN

a¿¿Updates: FED FORECASTS, OBAMA, GAS TAX INCREASE, FEDERAL RESERVE, CYPRUS-ECONOMY, WALL STREET, GM-RECALL-BY THE NUMBERS, AMAZON-SMARTPHONE, SMALLBIZ-INSTAGRAM, GENERAL MOTORS-CONGRESS, OIL PRICES, ARGENTINA-DEBT SHOWDOWN

TOP STORIES:

GENERAL MOTORS-CONGRESS

WASHINGTON a¿¿Lawmakers express disbelief at General Motors' explanation for why it took 11 years to recall millions of small cars with defective ignition switches, and also confront its chief executive with evidence that the company dragged its feet on a similar safety issue in different vehicles. By Marcy Gordon, Dee-Ann Durbin and Tom Krisher. SENT: 1,040 words, photos.

With:

a¿¿ GENERAL MOTORS-INVESTIGATION-TIMELINE a¿¿ 10 key events in GM's small-car recall. SENT: 470 words.

a¿¿ GENERAL MOTORS-CONGRESS-QUOTE BOX a¿¿ Key quotes from, and reaction to, the GM hearing in the House. UPCOMING: 500 words by 5:30 p.m.

a¿¿ GM-RECALL-BY THE NUMBERS a¿¿ Important numbers in GM's small-car recall. SENT: 350 words.

a¿¿ GM RECALL-EMPLOYEE WARNING a¿¿ A GM employee warned her colleagues in 2005 of an ignition switch problem in Chevrolet Impalas that could lead to "a big recall." That recall didn't happen until this week. UPCOMING: 400 words at 5:30 p.m.

And:

a¿¿ CHRYSLER-NHTSA INVESTIGATION a¿¿ The National Highway Traffic Safety Administration says it has opened two new investigations into Chrysler over complaints that the ignition key could shut the engine off and cause air bags not to deploy in a crash. SENT: 650 words.

AMAZON-SMARTPHONE

SEATTLE a¿¿ Amazon has introduced a new smartphone with audio and object recognition technology that seeks to make it easier for consumers to locate and purchase products and services from the nation's largest e-commerce company. By Ryan Nakashima. SENT: 960 words, photos.

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