IBT Staff Reporter

The former CEO of Japan's Olympus Corp is dropping his bid to retake control of the troubled company because of lack of support from Japanese institutional investors, according to a Wall Street Journal report.

The former CEO of Japan's Olympus Corp is dropping his bid to retake control of the troubled company because of lack of support from Japanese institutional investors, according to a Wall Street Journal report.

Ancestry.com Inc reported a 22 percent jump in subscribers in 2011 and a marginal fall in fourth-quarter churn, sending its shares up as much as 20 percent.

The following are comments by Swiss National Bank Chairman Philipp Hildebrand, his first public remarks over a controversial currency trade made by his wife three weeks before he oversaw moves to impose a cap on the Swiss franc.

Many U.S. store chains had to resort to deep discounts to lure shoppers over the holiday selling season, cutting into profits even as overall December sales came in slightly above expectations.

MetroPCS reported fourth-quarter net subscriber growth that missed analyst expectations even as it posted a smaller-than-expected customer cancellation rate.

Global mobile phone shipments is likely to grow at a much slower pace of 2 percent this year as customers hold back on new phone purchases, Credit Suisse said.

Investors in feeder funds who lost money with Bernard Madoff do not qualify as customers of the now-imprisoned swindler, a federal judge ruled.

ICANN, an independent body responsible for organizing the Internet, plans to press ahead with plans to expand the number of possible website addresses despite criticism from industry and concerns from some law enforcement groups.

U.S. stocks fell in choppy trading on Thursday after concerns about the euro zone's debt crisis overshadowed data suggesting a solid U.S. economic recovery.

Herman Cain wants you to know he's not dead yet -- and in the coming months, he will be embarking on a bus tour to promote the catchy 9-9-9 tax plan that drew many voters to his presidential campaign before a series of sexual harassment allegations brought it down.

The New York-based retailer said it expects 2012 consolidated sales between $7.0 billion and $7.2 billion. The company expects full year losses to total $1.10 and $1.40 per share.

In his first speech as head of the Consumer Financial Protection Bureau, Richard Cordray said his agency will immediately begin overseeing lenders outside the banking industry, and will take a tough stance against any financial players that break the law.

Private employers added 325,000 jobs in December, easily beating economists' expectations, a report by a payrolls processor showed on Thursday.

Eli Lilly & Co forecast a steeper-than-expected decline in profit for 2012, the first full year without exclusive rights to its big-selling Zyprexa schizophrenia treatment.

Switzerland's top central banker is battling for his future as he faces a grilling on Thursday over a controversial currency trade made by his wife three weeks before he oversaw moves to impose a cap on the Swiss franc.

Struggling phone maker Nokia Oyj basked in brightening prospects for its much-hyped Windows phone on Thursday as it prepared to strengthen the hand of new boss Stephen Elop by replacing its old-guard chairman.

MF Global UK administrator KPMG plans to start returning to clients the $1.2 billion of cash and assets frozen at the defunct broker as early as this month in a move that will placate customers ahead of their showdown with KPMG next week.

Many retailers had to discount more than they wanted to draw customers over the holidays, cutting into profits even as December sales came in slightly better than expected overall.

With every new year come a new round of bold predictions for financial markets.

The former CEO of Japan's disgraced Olympus Corp, Briton Michael Woodford, returned to Japan on Thursday where he said he will decide the future of his bid to return to his old post.

At a campaign stop in Sioux City, Iowa, on Sunday, Santorum said of entitlement programs, I don't want to make black people's lives better by giving them somebody else's money. I want to give them the opportunity to go out and earn the money.

The Bernard Madoff bankruptcy trustee has sued California Attorney General Kamala Harris to stop her alleged interference with his efforts to recover money for the swindler's former customers.

Private-sector hiring surged in December as employers added 325,000 new workers while claims for jobless benefits fell, raising hope that recent labor market improvement would continue in 2012.

Stock index futures pointed to a lower open on Thursday on renewed concerns about the euro zone's financial health, but encouraging employment data was expected to limit the decline.

The first batch of December sales results suggests that people were willing and able to shop if retailers made it worth the effort with discounts.

New claims for unemployment benefits fell by 15,000 last week in the latest sign the labor market was improving and could help the country resist the effects of a likely euro zone recession.

New claims for unemployment benefits fell by 15,000 last week in the latest sign the labor market was improving and could help the country resist the effects of a likely Eurozone recession.

The first batch of December sales results suggests that people were willing and able to shop if U.S. retailers made it worth the effort with discounts.