CNN Money: Top business headlines for March 20

    6:40 AM, Mar 20, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Wednesday, March 20.

    Defense worker furlough notices to go out Friday
    The Pentagon will start sending furlough notices to employees this Friday, a senior defense official said Tuesday. It will force workers to stay at home on unpaid leave for 22 days, or one day each week, starting April 21 through Sept. 21. It means a 20% pay cut for five months for most of the 800,000 civilian employees working for Defense. Officials on Tuesday couldn't say exactly how many notices are going out.

    Retirement confidence at record low
    Despite improving economic conditions, a record percentage of American workers remain worried that they won't be able to afford retirement. They're worried about their jobs, high debt levels and rising living expenses, according to a survey released Tuesday by the Employee Benefit Research Institute.

    Judge approves sales of Twinkies, Wonder Bread
    A bankruptcy judge has given final approval for the sale of Twinkies, Wonder Bread and many of Hostess Brands' other assets, clearing the way for the iconic products to return to shelves. Hostess snacks -- including Twinkies, Ho Hos, Ding Dongs and Zingers -- were sold for $410 million to a joint venture of private equity firms Apollo Global Management (APO) and Metropoulos & Co. They expect to return the product to store shelves this summer.

    Southwest broadens approach in new campaign
    Southwest Airlines, for the first time in many years, is making major changes in how it presents itself to current and potential customers. In an initiative that is scheduled to begin on Tuesday, Southwest is replacing its longtime humorous approach, as typified by ads with themes like "You are now free to move about the country," with a smoother, more polished tack that is intended to help burnish the Southwest brand image by playing up the airline's status as the biggest domestic carrier.

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