Saturn to Close After Sale Falls Through

GM said it would close its Saturn operation after Penske Auto ended its effort to acquire the brand.

Treasury's PPIP Raises $1.13 Billion

Investors have agreed to plow more than $1.13 billion into Treasury's PPIP program to buy toxic assets that were at the heart of the financial crisis.

ADP: U.S. Lost 254,000 Jobs

ADP said the U.S. lost 254,000 private-sector jobs in September. Meanwhile, GDP contraction was revised up to a 0.7% annual rate in the second quarter.

Best Quarter Since '98 for Dow

The Dow industrials slid 30 points on Wednesday after a weak Chicago factory report but gained 15% for the third quarter.

Chevron CEO to Retire

Chevron Chairman and CEO David J. O'Reilly will retire after a decade at the helm of the oil company. He will be succeeded by Vice Chairman John S. Watson.

Minneapolis Fed Names President

Narayana Kocherlakota, former chairman of the University of Minnesota economics department, will become president of the Federal Reserve Bank of Minneapolis.

Bharti Airtel, MTN Scrap Merger Talks

India's Bharti Airtel and South Africa's MTN called off talks aimed at a $24 billion merger, dashing the companies' hopes of forging an emerging markets telecom empire.

Kraft Gets Cadbury Bid Deadline

The U.K. regulator issued Kraft a six-week deadline to either make a formal bid for Cadbury or walk away.

CIT in Last-Ditch Rescue Bid

The fate of CIT Group was hanging in the balance as the large commercial lender readied a plan that would likely hand control of the company to its bondholders.

U.S. Loosens Control Over ICANN

The U.S. said it will give other governments and the private sector a greater oversight role in ICANN, the group charged with managing Web addresses.

Armani Names Group of Lieutenants

Georgio Armani named John Hooks as deputy chairman in a management reorganization that slightly loosens the designer's grip on his fashion empire.

Top U.K. Banks Agree to Bonus Rules

U.K. Chancellor of the Exchequer Alistair Darling welcomed a commitment by five top U.K. banks to apply tight rules on bonus payments for 2009.

Kraft Drops Name for New Vegemite

Kraft said it will hold a new naming contest for its recently introduced flavor of Vegemite after Australians voiced objections to one chosen-- iSnack 2.0.

Tokyo Stands Ready to Help JAL

Japan's transport minister said the government was willing to step in to help struggling Japan Airlines.

Hartford Taps Liam McGee to Be CEO

Hartford Financial named ex-BofA executive Liam McGee as CEO amid the firm's retreat from the risky variable-annuities business.