IBT Staff Reporter

Activist hedge fund MMI Investments LP, which had taken positions in several technology and defense companies and successfully pushed for deals in some cases, is winding down, people familiar with the matter said.

A group of about 30 consumer affairs lawyers will ask Olympus Corp shareholders to sue the company and its former executives for damages from a long-running cover-up of investment losses, The Nikkei business daily said.

Donald Mullen, a senior bond executive at Goldman Sachs who oversaw controversial subprime mortgage trades leading up to the financial crisis, has retired, according to an internal memo distributed on Friday and obtained by Reuters.

Fisker Automotive Inc has once again ratcheted down sales projections for 2012, saying the rollout of its luxury electric cars in both the United States and Europe was slower than expected due to regulatory hurdles.

The Federal Reserve previewed its new practice of announcing policymakers' interest rates projections on Friday, issuing a table that showed analysts may be able to guess where the policy consensus lies.

Hedge fund titan Citadel, whose main funds lost roughly 50 percent during the financial crisis, has now fully recovered and will again be able to charge performance fees, its founder told employees on Friday.

Canada's moment in the sun as the fastest-growing economy in the G7 club of rich countries is set to end this year, when it will likely underperform the United States for the first time in seven years and struggle with a mounting household debt problem.

As the Justice Department has stepped up its enforcement of an anti-foreign bribery law, it has faced the expected stiff resistance from the business community.

The Internet website Megaupload.com, shut down by U.S. authorities over allegations that it illegally peddled copyrighted material, is trying to recover its servers and get back online, a lawyer for the company said on Friday.

Billionaire investor Carl Icahn is buying some of the debt of hedge fund manager Philip Falcone's LightSquared Inc as the ailing wireless-network company runs short of cash, according to two sources familiar with the matter.

The Dow industrials and the S&P 500 posted their best week in four even with a mixed finish on Friday after strong earnings from tech bellwethers IBM and Intel contrasted with Google's disappointing quarterly report.

Google Inc's accelerated efforts to carve out a position in the fast-growing mobile and social networking markets leapt into the spotlight Friday, a day after the giant Internet company reported a rare earnings miss.

The S&P 500 and the Nasdaq eased on Friday after Google disappointed on earnings, while the Dow rose with IBM .

Oilfield services leader Schlumberger reported a higher-than-expected rise in fourth-quarter earnings and remained cautiously optimistic about 2012 despite the potential for Europe's debt crisis to hurt economic growth and oil demand.

The dollar's many detractors may have missed it, but the much-maligned U.S. currency is on rise.

Intel Corp unveiled a string of management changes on Friday, elevating 20-year company veteran and manufacturing expert Brian Krzanich to the post of chief operating officer and raising his stature as a possible future CEO.

Billionaire investor Carl Icahn is buying some of the debt of hedge fund manager Philip Falcone's LightSquared Inc. as the ailing wireless-network company runs short of cash, according to two sources familiar with the matter.

Intel Corp will promote 20-year company veteran and manufacturing expert Brian Krzanich to the post of chief operating officer, making him a frontrunner to one day replace Paul Otellini as chief executive.

Intel Corp will promote 20-year company veteran and manufacturing expert Brian Krzanich to the post of chief operating officer, making him a frontrunner to one day replace Paul Otellini as chief executive.

With the searing success of Apple's iPhone line helping to spur sales of nearly 580 million smartphones in 2011, consumers are lining up to buy them. Meanwhile, the mobile industry is dying to serve them, lured by prospects of subscriber growth and terabytes of new revenue.

Mitt Romney really doesn't want anybody testing the U.S. military -- he has taken to using versions of the same line seemingly every time he speaks.

Southwest Airlines Co said on Friday that its AirTran subsidiary would stop operating at six U.S. airports this year because of higher fuel costs.

More U.S. investors are targeting Canadian companies for proxy battles to boost the value of their stakes, encouraged by favorable laws and activist attacks on such blue chips as Canadian Pacific Railway and Research In Motion.

The man who imbued Target Corp with its cheap chic appeal and helped build Apple Inc's chain of avant-garde stores is about to unveil his latest trick: How to breathe new life into J.C. Penney Co Inc and turn it into America's favorite store.

The Texas Congressman whose proposed Stop Online Piracy Act prompted dozens of websites to go dark or run protest messages this week said Friday he is pulling the measure from consideration until there is wider agreement on a solution.

Shares of Cogent Communications Group Inc slumped 23 percent after the U.S. government shut down one of its customers and the Federal Bureau of Investigation searched its offices.

Wal-Mart Stores Inc on Friday named Rosalind Brewer president and chief executive of its Sam's Club warehouse retail chain, marking the first time that the world's largest retailer will have a woman and an African-American leading one of its three business units.

The Texas Congressman whose proposed Stop Online Piracy Act prompted dozens of websites to go dark or run protest messages this week said Friday he is pulling the measure from consideration until there is wider agreement on a solution.

General Electric Co's fourth-quarter revenue fell short of Wall Street expectations, with Europe's weakening economy and weak sales of appliances the main culprits.