COMPANIES

JPMorgan Chase & Co has agreed to drop almost all of a $710 million claim against Lehman Brothers Holdings Inc's bankruptcy estate, freeing up more money to be distributed to creditors, Lehman said on Wednesday.

GT Advanced Technologies posted quarterly profit above analysts' estimates for the ninth time in a row, partly helped by better performance at its polysilicon segment, but it cut the upper end of its full-year earnings outlook.

Business software company Open Text posted a 28 percent jump in second-quarter profit on Wednesday on solid demand from services, technology and financial customers.

AMR Corp, the parent of bankrupt American Airlines, wants to slash 13,000 jobs and terminate employee pension plans as part of a cost-cutting strategy the carrier says is necessary to compete with rivals.

Officials with Brazilian oil giant Petrobras, and Brazil's environmental protection agency (IBAMA), announced Wednesday that 26 cubic meters of oily water was collected from an offshore oil production column that ruptured the day before.

Ryan Reynolds has put the house he lived in with ex-wife Scarlett Johansson up for sale.

Apple's seventh-generation iPod Nano will reportedly come with a built-in camera. Rumors of this feature were known about a year ago, but with newer photos and Apple patenting the device, it's a near-certainty that the next iPod Nano will record still and video images.

Documentary film maker Josh Fox, famous for his film Gasland, was handcuffed and forcibly removed from a subcommittee hearing of the House Science Committee as an Environmental Protection Agency administrator testified on a controversial EPA draft study.

Shares of London-based Hochschild Mining closed Wednesday up 5.91 percent to £523.50 ($829.24), solidly outpacing the rise in the price of silver.

After four consecutive years of losses, Sony Corp. is replacing chief executive officer Howard Stringer with the head of the company's consumer electronics business, Kazuo Hirai. He'll become Sony's youngest CEO ever as he tries to prop up the deflated brand equity of Sony.

Shares of AOL, the seventh most-visited Website, leaped as much as 16.5 percent Wednesday after reporting improved financial results bolstered by a rise in display advertising.

A police officer shot in the head outside a public-housing complex in Brooklyn on Tuesday is expected to make a full recovery, police officials said Wednesday.

To succeed, small businesses need to build a winning culture. Although it may not seem as immediate as considerations like sales and cash flow, small businesses cannot afford to neglect it.

Struggling clothing retailer Esprit Holdings will be closing all of its stores and possibly close all of its outlets in the United States if a last-second partner does not materialize.

Analysts attribute the fall of Amazon's stock price to high expectations that weren't met.

An unnamed source claims it is in possession of Apple's third-generation iPad, the iPad 3, and discovered code that reveals Apple may be building two different versions of the device, one with Wi-Fi only and one with Wi-Fi, GSM, CDMA and global LTE. Both will feature a new quad-core A6 processor.

Two of the men who have accused Bernie Fine of sexually molesting them when they were ball boys is now accusing his wife, Laurie, of having sexual relationships with basketball team players. Bernie Fine, a former Syracuse University assistant men's basketball coach, was fired late last year, after being accused of molesting three men in the 1980s and 1990s.

JC Penney's new Chief Executive Ron Johnson thinks shoppers have dropped the coupon-hounding, sale-chasing era when department stores reigned. Retail territory has been ceded to bargain sellers such as Walmart and Target. The former Apple retail executive offered a much-hyped solution last week, mixing branding, a new pricing structure and a buoyant ethos.

Pink slime - a mix of meat trimmings washed in ammonium hydroxide and used in fast food burger patties - churned consumer's stomachs so much; McDonald's banned the slop, according to news reports.

After shares of Netflix hit rock bottom following an ill-fated business decision last September, the Los Gatos, Calif-based company has seen its shares go back up rather quickly.

Resident Evil 6, which has been developed and published by Osaka, Japan-based company Capcom, is scheduled for a Nov. 20 release.

Shares of Amazon, the world’s largest e-retailer, plunged 11 percent to $173.68 in pre-market trading after the company reported fourth-quarter revenue below expectations.

Kazuo Hirai will be the new chief executive officer and president of Sony, effective April 1, when he will replace Howard Stringer, according to the company.

Oscar-winning actress Rachel Weisz's L'Oreal advertisement has been banned on the grounds of the ad being Misleadingly exaggerated.

iPad 3, which is the next iteration of Apple's iPad 2, is expected to be launched anytime soon. Check out the top 5 anticipated features of iPad 3.

The newest Corona 5.0.1 Untether 1.0-7 has been released.

Facebook is expected to submit paperwork to regulators on Wednesday morning for a $5 billion initial public offering and has selected Morgan Stanley and four other bookrunners to handle the mega-IPO, sources close to the deal told IFR.

Bookseller Barnes & Noble has announced that the chain will stop selling books in its stores published by Amazon.com.

Sandusky's attorney said he would vehemently oppose the motion to use an outside jury.