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 said its chief executive plans to step down when his term ends in May, amid reports of pressure to replace him with a political appointee.

 
Goldman Executive Who Helped Court 1MBD Leaves Firm

A senior Goldman Sachs Group official who was involved in the bank's dealings with a Malaysian state investment fund that is the subject of a sprawling global corruption probe has left the firm.

 
Hilton to Buy Back $1 Billion in Shares, Pay Dividend

Hilton Worldwide Holdings announced a $1 billion share buyback program and launched a dividend as the hotel company charts its path forward after a major reorganization of its business.

 
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.

 
Lehman Brokerage Creditors Set to Recover Another $228 Million

More than eight years after Lehman Brothers collapsed and triggered a global financial crisis, creditors of the defunct brokerage will have collected about $9 billion.

 
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.

 
Buffett's $5 Billion BofA Bonanza: Thank You, President Trump

Donald Trump's presidency has been a boon to Warren Buffett, especially when it comes to the legendary investor's holding in Bank of America.

 
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.

(END) Dow Jones Newswires

February 24, 2017 11:15 ET (16:15 GMT)

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