IBT Staff Reporter

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.

Shares of Google Inc fell 8 percent after the Internet giant posted a rare quarterly earnings miss and said money paid by marketers for its search ads decreased for the first time in two years.

Home sales hit an 11-month high in December and the number of properties on the market was the fewest in nearly seven years, pointing to a nascent recovery in the housing sector.

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 S&P 500 and Nasdaq dipped on Friday after a pair of bellwether corporate earnings fell short of lofty expectations, though a trio of strong results from Dow components kept the blue-chip average in positive territory.

Airlines utilizing the Airbus A380 will be required to conduct enhanced inspections following findings of cracks inside the wings of the aircraft, the European Aviation Safety Agency announced Friday.

Europe's safety regulator on Friday ordered urgent inspections on almost a third of the Airbus A380 fleet after cracks were found inside the wings of the world's largest jetliner.

Sales of previously owned U.S. homes rose to an 11-month high in December and the supply of properties on the market dropped to a near 7-year low, an industry group said on Friday, pointing to a nascent recovery in the housing market.

The S&P 500 and Nasdaq dipped on Friday after a pair of bellwether companies' earnings fell short of lofty expectations, though a trio of strong results from Dow components kept the blue-chip average in positive territory.

Shares of Google Inc fell 8 percent after the Internet giant's quarterly earnings missed estimates as money paid by marketers for its search ads fell for the first time in two years.

Europe's safety authorities on Friday ordered urgent inspections on a third of the Airbus A380 fleet after the discovery of wing cracks on the world's largest jetliner.

Lawmakers on Friday indefinitely postponed anti-piracy legislation that pits Hollywood against Silicon Valley, two days after major Internet companies staged an online protest by blacking out parts of prominent websites.

Mobile telecoms network equipment market leader Ericsson and rival ZTE have settled a dispute over patents that will see the up-and-coming Chinese company pay royalties to the Swedish firm.

Senate Democratic leader Harry Reid on Friday postponed a showdown vote in his chamber on the PIPA online anti-piracy bill that pits Hollywood against Silicon Valley.

JAN 20 - Intel Corp announced a string of top-level management changes on Friday, including the elevation of 20-year company veteran Brian Krzanich to Chief Operating Officer.

In case you missed the Republican presidential debate in Charleston, S.C., Thursday night, here are the highlights, from Newt Gingrich's opening tirade against moderator John King of CNN to Ron Paul's defense of leaving abortion laws to the states.

Portugal clinched a deal on ambitious labor market reforms this week and carried out its biggest debt sale since seeking a 78-billion-euro bailout, but the challenges for the second-most risky country in the euro zone may be shifting up a gear.

European safety authorities are set to order airlines to carry out checks on almost a third of the current Airbus A380 fleet after the discovery of wing cracks on the world's largest jetliner, aviation sources said Friday.

The S&P 500 and Nasdaq edged lower on Friday after GE and Google results fell short of expectations, while investors awaited a resolution in the latest round of Greek debt talks.

Investors rattled by unpredictable global markets are losing faith in star managers to shield them from painful losses, with some of the industry's best known names topping a list of funds which hemorrhaged cash in 2011, Lipper data shows.

Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market tumbled to a near 7-year low, pointing to a nascent recovery in the housing market.

Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market dropped to a near 7-year low, an

U.S. stocks edged lower on Friday after GE and Google results fell short of expectations, while investors awaited a resolution in the latest round of Greek debt talks.

General Electric Co's fourth quarter revenue fell more sharply than expected, hurt by weakness in Europe and unfavorable foreign exchange rates, sending its shares down about 3 percent in premarket trading.