Sears Holdings filed to spin off its Lands' End business. The retailer said it plans to distribute all of the shares of Lands' End, adding that it expects the spinoff will be tax-free to U.S. stockholders except for any cash received in lieu of fractional shares.
U.S. payrolls rose by 203,000 last month, the Labor Department said, and the unemployment rate dropped to 7.0%, the lowest level in five years—signs of growth that could prompt the Fed to begin to ease up on its easy-money policies.
European Union antitrust authorities have raided a number of companies that manufacture, distribute and retail consumer electronic products and small domestic appliances as part of a competition probe.
Microsoft took action against what it says is a major ad-fraud 'botnet,' working with law enforcement overseas to cut off communication links to servers considered the mega-brain for an army of zombie computers.