Our Great City

Kohl's is expected to announce that Larry Montgomery will step down as CEO and that its president will take over.

South Koreans hope to turn the Kaesong Industrial Park into a capitalist foothold that might someday undermine the Stalinist North Korean state.

Ericsson and STMicroelectronics have agreed to combine their wireless chip and software businesses into a new joint venture that will compete to supply cellphone handset makers.

British competition authorities called for the breakup of BAA in a preliminary report that recommended the sale of two of its three airports serving London and one in Scotland.

NBC Universal said that it had signed an agreement to acquire an independent production agency in Britain, giving it a base of operations for international expansion.

IAC faces a test to become more profitable as a smaller entity as it prepares to spin off four big properties.

The publisher of Home said it is pulling the plug on the struggling magazine. The downturn in the real-estate market has cast doubt on reader and advertiser appetite for "shelter" publications that tell people how to spruce up their homes.

Queensland Gas, one of the companies proposing a liquefied natural gas project in northeast Australia, has agreed to buy Sunshine Gas Ltd. for at least 837 million Australian dollars ($730 million).

Retail sales in Canada rose for a fourth consecutive month in June, led by higher gasoline prices and clothing purchases.

The big steel maker ArcelorMittal said it would pay $810 million for the Brazilian iron ore assets of London Mining.

Microsoft is turning to Jerry Seinfeld to star in a new $300 million advertising campaign, one of the largest in the software giant's history.

Intel is joining Yahoo in a partnership to help companies deliver Web content alongside TV programming.

Airlines globally could lose more than $6.1 billion in 2008 due to high oil prices and geopolitical instability, the head of an industry group said.

Steve & Barry's will survive as a going concern after Bay Harbour agreed to buy its assets for $168 million.

As financial institutions continue to fail, the Federal Deposit Insurance Corp. is under pressure to decide how to replenish the fund that insures consumer deposits.

Continental AG relented its opposition to a takeover by rival auto supplier Schaeffler Group in exchange for substantial concessions, including a raised offer of $112 a share and guarantees not to take a majority stake before 2012.

Live Nation has formed a partnership with the biggest concert promoter in Latin America, in a bid to strengthen its global touring business.

The Fed quietly called Credit Suisse last month to see if it had pulled a line of credit from Lehman Brothers in response to a rumor.

Marketers are starting to personalize in-store promotions in the latest bid to tailor ads to specific consumers.

New York state stepped up its probe of Bank of America, Goldman Sachs and Deutsche Bank over the firms' sales of auction-rate securities.