BUSINESS

Asian shares fell on Wednesday in low volume with many market players away for year-end holidays, while oil held on to the previous day's gains on concerns about possible supply disruptions after Iran threatened to stop the flow of oil from the Gulf.

Two Eastman Kodak directors resigned from the board last week, the struggling photography company said in a filing with regulators on Tuesday.

The Carlyle Group has started fundraising for a new global financial services buyout fund that is seeking to top its previous $1.1 billion fund, which is now almost fully invested, a person familiar with the matter said on Tuesday.

Hackers affiliated with the Anonymous group said they are getting ready to publish emails stolen from private intelligence analysis firm Strategic Forecasting Inc, whose clients include the U.S. military, Wall Street banks and other corporations.

Sears Holdings Corp will close as many as 120 of its Kmart and Sears discount and department stores after its holiday sales slumped, sending its shares sliding more than 27 percent to their lowest level in three years.

A federal judge has approved American International Group Inc's $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers' compensation policies.

A U.S. appeals court agreed to resolve a dispute among institutional investors over whether Bank of America Corp's $8.5 billion mortgage debt settlement should be sent back to a New York state court for approval.

A state ethics panel has said former state Sen. Pedro Espada of the Bronx, broke the law when he hired his uncle for his Senate staff.

The Securities and Exchange Commission filed an emergency request to put its securities fraud lawsuit against Citigroup Inc on hold so it can quickly appeal a judge's decision to reject its proposed settlement with the bank.

Sears Holdings Corp will close as many as 120 of its Kmart and Sears discount and department stores after its holiday sales slumped, sending its shares sliding more than 27 percent to their lowest level in three years.

General Electric Co agreed to buy life insurer MetLife Inc's online bank on Tuesday, in a deal that will let GE's capital arm expand its funding base and lessen reliance on wholesale markets.

Improving labor market conditions lifted U.S. consumer confidence to an eight month high in December, but persistently weak house prices remain an obstacle to faster economic growth.

Stocks ended flat on Tuesday after fluctuating between small gains and losses in a light-volume session, as investors took a breather following a 5 percent rally last week.

Janet Robinson, who will step down as chief executive of the New York Times Co on December 31, will receive an exit package in excess of $15 million, according to people familiar with the situation.

Stocks rose slightly on Tuesday after strong consumer confidence data, but the gains were seen as transient in a volatile market after a 5 percent rally over the past four trading sessions.

Stocks fluctuated between small gains and losses in a light-volume session on Tuesday, suggesting a 5 percent rally over the past four trading sessions may have largely run its course.

Sears Holdings Corp will close as many as 120 of its Kmart and namesake big-box stores after sales during the peak holiday period fell sharply, and the retailer also forecast that fourth quarter earnings would fall by more than half, sending its shares plunging some 25 percent.

General Electric Co jumped into the retail deposits business on Tuesday, buying the online bank from life insurer MetLife Inc in a deal that will let GE's capital arm expand its funding base and lessen reliance on wholesale markets.

Silicon Alley in New York City flourished in 2011--and the outlook is bright for 2012. Funding dollars poured into young companies, and business leaders partnered with them more than ever. There was a real sense of respect and cooperation, said chairman of the New York Angels, Brian Cohen, in a recent interview.

Consumer confidence rose more than expected in December, hitting an eight-month high, as Americans grew more upbeat about the labor market and their financial situation.

Consumer confidence rose to an eight month high in December as households grew more upbeat about job prospects, but other data showed the housing market likely remains a drag on economic growth with house prices falling 3.4 percent in the October year.

Stocks edged higher in early trading on Tuesday, adding to recent gains, but investors mostly stayed on the sidelines in a session expected to produce light volume.

Single-family home prices fell more than expected in October, data showed Tuesday, raising doubts that recent signs of improvement in the housing market would be sustained.

Stock index futures pointed to a modestly lower open on Tuesday as investors found little reason to continue buying in what was expected to be a light-volume session following recent gains.

Stock index futures were little changed on Tuesday as investors found little reason to make big bets in what was expected to be a light-volume session following the previous week's gains.

stock index futures were lower on Tuesday as investors found little reason to make big bets in what was expected to be a light-volume session following the previous week's gains.

European stocks crept higher on Tuesday, catching the tailwind of a pre-holiday U.S. rally, while the euro was hamstrung by the prospect of a large Italian debt auction later in the week.

Greece's stores had their worst Christmas in decades, with retail sales dropping by 30 percent compared with the same period last year as the economic crisis shattered consumer confidence, the ESEE retail federation said on Tuesday.

Asian shares eased on Tuesday as investors squared positions in thin volume before U.S. markets reopen after a long weekend and investors see fresh data that could offer clues about prospects for the world's largest economy.