IBT Staff Reporter

J.C. Penney Co Inc is changing everything from its pricing strategy and store layout to its exclusive merchandise lines as the department store chain seeks to jettison the wide margin-sapping discounts that failed to bring in customers.

Below are highlights from Federal Reserve Chairman Ben Bernanke's news conference following the Fed's policy meeting on Wednesday.

Apple CEO Tim Cook has a problem, a $98 billion problem.

Nokia, the world's largest cellphone maker by volume, is expected to remain barely in the black in the fourth quarter, with its new Windows Phone models yet to compensate for diving sales of its legacy smartphones.

Netflix Inc said on Wednesday that it expects Amazon.com Inc to brand its video streaming offering as standalone service.

Symantec Corp, the top maker of computer security software, reported a higher quarterly profit and issued an outlook in line with Wall Street estimates.

Symantec Corp, the top maker of computer security software, reported a higher quarterly profit and issued an outlook in line with Wall Street estimates.

David Ko, Zynga's chief mobile officer, has one of the most important and pressure-filled at the online gaming company -- he's charged with figuring out ways to get people to play Zynga's games on tablets and smartphones.

I've never been to Davos, despite attempts by many over the years to persuade me to go. Don't get me wrong. I understand that it is a special event for many people, and for many reasons. It is anchored by wide-ranging and engaging agendas, and participants get to mingle with a global cornucopia of important people. It is also the place to see and be seen for heads of state, politicians, academic...

The Republican candidates for president have some major differences in their policies and their personal lives. But they have one striking thing in common - they all say the federal government is responsible for the financial crisis. Even Newt Gingrich says: The fix was put in by the federal government.

Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration's bank reforms were hostile to the U.S. financial industry, saying on Wednesday the reforms were "tough where they need to be tough."

Insider Thorsten Heins, the new chief executive at BlackBerry maker RIM, is a surprise choice for those looking for a transformational leader from outside to turn around the Canadian group's fortunes.

The epic global shifts of 2011 transformed the political, economic, and social landscape from Shanghai to Sao Paolo, Washington to Cairo. No leader is safe from the vagaries of social unrest; no economy (not even China's) is unaffected by contagion from an over-leveraged, under-managed euro zone. No country is immune from the threat of asymmetric attacks - anything from a terrorist bomb to cybe...

Big profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the U.S. stock market higher on Wednesday.

Political convulsions in the euro zone have only just begun. Six prime ministers have been kicked out of office, protesters have occupied public spaces, nationalist parties have grown in popularity, and two countries have appointed technocratic leaders. And that was just 2011. The coming year is likely to prove even tougher on the economic front as the crisis continues to rage, austerity bites, an...

Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration's bank reforms were hostile to the U.S. financial industry, saying on Wednesday the reforms were tough where they need to be tough.

Shares of Research In Motion rose 8.6 percent on Wednesday, rebounding after two days of declines on disappointment over the choice of an company insider as the BlackBerry maker's new chief executive.

Apple Inc shares surged the most in more than three years, after skyrocketing iPhone and iPad sales helped it smash Wall Street expectations, prompting analysts to raise their price targets on the stock by as much as $100.

Stocks rose on Wednesday after the Federal Reserve said it would keep interest rates near zero through at least 2014 and Apple's spectacular results boosted investor sentiment.

Studying the potential health hazards of nanotechnology will require an additional $24 million a year to close the knowledge gap about the tiny particles used in a fast-growing array of consumer products, the National Research Council said on Wednesday.

Google Inc, which revolutionized Internet searches with an easy-to-use website, has itself become an increasingly tricky business to grasp.

The European Central Bank has ruled out taking voluntary losses on its Greek bond holdings but is now debating how it would handle any forced losses and whether to explore legal options to avoid such a hit, central bank sources told Reuters on Wednesday.

The European Central Bank has ruled out taking voluntary losses on its Greek bond holdings but is now debating how it would handle any forced losses and whether to explore legal options to avoid such a hit, central bank sources told Reuters on Wednesday.

J.C. Penney Co Inc is doing away with deep discounts in favor of offering shoppers simpler pricing, and plans to carve up its stores into about 100 shops featuring specific brands, the department store's new executive team said on Wednesday.

Big profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the U.S. stock market higher on Wednesday.

Airbus blamed a recent series of A380 wing cracks on a combination of design and manufacturing flaws and said it had worked out a two-stage solution, while stressing the superjumbo was in the meantime safe to fly.

Netflix Inc's fourth-quarter revenue outpaced Wall Street's expectations as the video rental website reversed subscriber losses to sign up more than 600,000 new U.S. customers in the period, pushing its shares up 12 percent.

Boeing Co said on Wednesday that a pension expense larger than Wall Street had anticipated would weigh on its 2012 earnings, but it handed investors good news with expectations for increased commercial aircraft deliveries this year.

Federal Reserve Chairman Ben Bernanke signaled on Wednesday the central bank may consider further monetary easing, after the central bank announced interest rates would remain near zero until late 2014.