American Securities Sells NEP Broadcasting

American Securities cut its ties with NEP Broadcasting, selling the television production company to Crestview Partners after roughly five years of ownership.

Cnooc Says Nexen Deal Will Wait

Chinese energy producer Cnooc said its $15.1 billion deal for Canada's Nexen is still awaiting U.S. approval and now expects to complete the acquisition in the coming quarter.

Lonmin's Chief Steps Down

Platinum producer Lonmin's tumultuous year will end with a search for a new chief executive after the resignation of Ian Farmer, who has been out since August due to serious illness.

Netflix to Increase CEO's Pay

Netflix raised Chief Executive Reed Hastings's compensation package to $4 million for 2013, essentially doubling his pay this year.

China's ZTE Targets iPhone

China's ZTE plans to ramp up competition in the crowded U.S. smartphone market with higher-end gadgets and closer ties with carriers.

FDA Approves Pill to Prevent Strokes

A stroke-preventing pill from Pfizer and Bristol-Myers Squibb won approval from U.S. health regulators, setting the stage for a fierce fight among drug makers to replace the widely used bloodthinner warfarin.

Ratan Tata Says Goodbye

Ratan Tata, one of India's most respected corporate leaders, retires with words of caution for the Tata Group's nearly half a million employees.

Euro Zone Set to Contract Again

The euro-zone economy looks set to shrink for the third straight quarter in the final three months of 2012, underscoring the challenges ahead for the currency union as its debt crisis enters another year.

Pending Home Sales Climb

The number of contracts signed to buy previously owned homes in November rose to the highest level in more than two years on a seasonally adjusted basis, the latest sign of how housing demand has firmed up as mortgage rates tumble to new lows.

U.S. Considers EU Trade Talks

The U.S. is considering the initiation of talks soon on a trans-Atlantic trade deal aimed at opening Europe's protected agriculture markets, eliminating tariffs and cutting regulations.

FCC to Expand In-Flight Internet Use

The FCC established rules that would make it easier for companies to offer Internet service on board airplanes, formalizing a process that is currently on an ad hoc basis.

Glitch Prompted Big Fed Loan

First Tennessee Bank was the biggest borrower of short-term funds from the Federal Reserve during the fourth quarter of 2010, following a technology glitch, data showed.

KBC Sells Its Stake in Slovenia's NLB

The deal means KBC has now agreed to sell virtually all the holdings it accumulated in a rapid expansion across central and eastern Europe before the 2008 global crisis. It also helps Slovenia clean up the troubled bank.

Negotiators Avert Strike in Port Talks

Negotiators averted a potential longshoremen strike that would have halted container cargo at U.S. ports from Boston to Houston, agreeing to a contract extension that came too late for some retailers.

Knight Is Faced With Tough Decision

It won't be easy for Knight Capital Group Inc. directors to decide between the two offers to acquire the struggling brokerage firm.

'Illegal Tipping' Alleged on IBM Deal

Two former brokers at Euro Pacific Capital were arrested and accused of trading ahead of IBM's $1.2 billion acquisition of a software company in 2009.

Two Tax-Shelter Convictions Tossed

A federal appeals court reversed the convictions of two former Ernst & Young employees in an alleged scheme to promote fraudulent tax shelters that prosecutors said generated $2 billion in improper tax losses.

Qihoo 360's Zhou Hongyi: Taking Aim at China's Internet

Internet entrepreneur Zhou Hongyi has set out to capture a chunk of China's $3.3 billion search market, an area so dominated by Baidu that the company is often called the Google of China.

Third-Quarter GDP Growth Revised Upward to 2.7%

Third-quarter growth in the U.S. gross domestic product was revised higher to 2.7%, compared with an initial reading of a 2% gain. Weekly jobless claims fell, but the four-week average remained high.

Air Force, Lockheed Cite F-35 Progress

The head of the U.S. Air Force on Thursday warned against further cuts in a costly new jet fighter program.