J.C. Penney to Close More Than 100 Stores

J.C. Penney will shutter two distribution centers and 130 to 140 stores as the big-box retailer contends with falling foot traffic. The company also reported its first annual profit since 2010.

 
Vale CEO to Step Down in May

Brazilian mining giant Vale SA said Friday its chief executive plans to step down when his term ends in May, amid reports of political pressure from government allies to replace him with an appointee.

 
GM, Tech Industry at Loggerheads Over Self-Driving Cars

General Motors is backing legislation in numerous states that tech companies say is designed to put them at a disadvantage in the nascent market for autonomous vehicles. GM denies the claim.

 
Foot Locker Posts Better-Than-Expected Earnings

Foot Locker reported better-than-expected earnings in the fourth quarter despite a slowdown in the retail industry.

 
MacDonald Dettwiler to Buy Satellite-Imaging Firm DigitalGlobe

Canadian satellite company MacDonald Dettwiler & Associates reached a deal to buy U.S. satellite-imaging provider DigitalGlobe in a cash-and-stock transaction.

 
Royal Bank of Canada Posts Revenue, Profit Growth

Royal Bank of Canada posted revenue and profit growth in its first quarter because of lower loan-loss provisions and fewer insurance expenses.

 
British Airways Parent Jump-Starts Plans for Budget Trans-Atlantic Flights

British Airways parent IAG said flights from Barcelona would start in June, a day after Norwegian Air Shuttle expanded its service with fares from $65. IAG also reported a 29% rise in profit and announced a share buyback.

 
RBS Losing Streak Hits Nine Years but Sees End in Sight

Royal Bank of Scotland reported its ninth straight annual loss but pledged extra cost cuts this year and said it hoped 2017 would mark the end of its decadelong restructuring.

 
E.W. Scripps Revenue Better Than Expected

E. W. Scripps Co. swung to a profit in the fourth quarter and reported better-than-expected revenue growth thanks to political advertising revenue, though campaigns spent less on the presidential race than in 2012.

 
Standard Chartered Pressured by Troubled Finance Unit

Standard Chartered said its principal finance unit toted up a $650 million loss last year, weighing on the bank's efforts to improve returns.

(END) Dow Jones Newswires

February 24, 2017 09:00 ET (14:00 GMT)

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