COMPANIES

Sanford, Fla., Police Chief Bill Lee, who drew criticism for his department's handling of the killing of Trayvon Martin, was fired Wednesday, his spokeswoman said.

After much anticipation, storied British carmaker Aston Martin finally released its new flagship the AM 310 Vanquish, reviving the Vanquish name after an absence of years and securing a niche for the super grand tourer.

Bank of America directors have reached a definitive settlement of litigation by shareholders, who accused the bank of overpaying for Merrill Lynch, a federal judge said.

Apple (Nasdaq: AAPL), the world's most valuable technology company, said service had been restored to the iCloud after several hours of disruption on Wednesday.

Yahoo (Nasdaq: YHOO), the No. 3 search engine, could settle its patent dispute with Facebook (Nasdaq: FB), the No. 1 social networking site, soon, lawyers told a federal judge in San Francisco.

ConAgra Foods, the parent company of Hebrew National, is defending the brand's kosher reputation in response to a lawsuit seeking class-action status that claimsits famed hot dogs and other meat products are not living up to their name.

Apple (Nasdaq: AAPL), the world's most valuable technology company, has won a small victory in its battle against rival and supplier Samsung Electronics (Seoul: 005930).

Joe Amendola's All My Children comment is being widely criticized as most inappropriate considering that he is representing a man facing 51 charges of child sex abuse. And while the trial of the former Penn State assistant football coach is now in its sixth day, Sandusky has continued to deny the allegations against him.

International Business Machines Corp. (NYSE: IBM), the No. 2 computer maker, ranks first among supercomputer makers in the 2012 rankings compiled by U.S. and German experts.

Bank of America Corp. (NYSE: BAC), the lender divesting assets to raise capital, is in talks with Swiss wealth manager Julius Baer Group Ltd. to sell its Merrill Lynch wealth management business outside the U.S.

Procter & Gamble Company (NYSE: PG) on Wednesday cut its second-quarter earnings forecast due to slowing demand in developed economies and the effect of a strong dollar.

The next generation Apple iPhone, unofficially dubbed the iPhone 5, has already created much hype around the tech world months before its expected release. But according to Pacific Crest analyst Andy Hargreaves, high expectations related to iPhone 5 among Apple fans all around the world could cause a larger-than-expected pause in buying iPhones ahead of the device's release later this year.

Toyota Motor Corporation (NYSE: TM) plans to cut Japanese production capacity by more than 10 percent by 2014, according to Auto News Tuesday.

Microsoft has always been known as a software company, but that perception changed on Monday when the company unveiled its first-ever tablet in Los Angeles. Even though Apple popularized the tablet genre with the iPad, Microsoft's Surface tablet will directly compete with the bestselling tablet, as it is slightly thinner, features a bigger screen, and it can also do several things the iPad can't do, such as type well or sit up straight.

The chief marketing executive at Atlanta-based soft drink giant Coca-Cola Co. (NYSE: KO) said he believes online and mobile advertising is an effective driver of sales for the company, even if it can't be quantified with any currently available standard measures.

Oracle (Nasdaq: ORCL), the No. 1 database developer, reported full-year revenue rose 4 percent to $37.2 billion -- with revenue from the Cloud, or Internet-based computing, reaching a record $1 billion.

Legendary racing driver and muscle car builder Carroll Shelby is no longer quick, in both senses of the word, as a weird legal battle between his children and the last of his seven wives for possession of his remains has left his body stationary chilling in a Dallas County morgue, according to a report by the Los Angeles Times.

The defense of Jerry Sandusky has focused on inconsistencies in opposing witness testimony and presenting mostly character witnesses.

Shares of J.C. Penney Company, Inc. (NYSE: JCP) plunged mid-Tuesday by 10.15 percent, or $2.47, to $21.86 in the wake of president Michael Francis' departure, as the department store struggles to change its discount model and increase revenue.

In a radical shift for Bill Gates' 37-year-old software company, Microsoft unveiled a tablet in Los Angeles on Monday. The Surface aims to be a direct competitor to Apple's iPad, sporting a form factor that's thinner than Apple's tablet, and it also tackles several things the award-winning iPad can't do, like type well or stand up straight.

A month after the $16 billion mammoth but botched initial public offering of Facebook (Nasdaq: FB), the No. 1 social networking site, the ice may be breaking for technology companies.

Gary Giordano, a former suspect in the disappearance of his travel companion Robyn Gardner, has filed suit against American Express in an effort to collect on an insurance policy he took out on the missing woman.

South Korean electronics giant LG Group said it would step back from the tablet sector after Microsoft (Nasdaq: MSFT), the biggest software developer, introduced its Surface tablet for shipment in the second half.

On Monday, Microsoft finally took the wraps off its much talked about Surface tablet that had created a lot of hype even before its release. However, it seems that the mysteries surrounding the device have not been solved completely.

American Express, BroadVision, Oracle Corp, Las Vegas Sands, Transocean, Infosys and Western Gas Partners are among the companies whose shares are moving in pre-market trading Tuesday.

After mesmerizing Android fans with its latest flagship smartphone, Galaxy S3, Samsung is now eyeing enterprise customers and has announced its first SAFE-branded Android smartphone in the U.S. - a secured version of the new Galaxy S3.

On May 18, Facebook closed its first day as a public company at $38.23, valuing itself around $105 billion. On Tuesday at mid-day, it traded near $31.50. Still, despite the vilification of the IPO, the slumping share price and dozens of class action lawsuits filed in federal courts in New York and California, Facebook, a damaged brand, has followed the advice of New York image guru Clive Chajet who said it should ignore the press and stick to its knitting.

Microsoft unveiled its own family of tablets Monday evening to rival Apple's iPad.

Investors rushed on Monday to buy bonds in Mexico City-based retailer Controladora Comercial Mexicana SAB (Mexico: COMERUBC) after Costco announced it was buying back the 50 percent stake of its local unit held by Comerci.