Yahoo close to naming new CEO. Update: it's confirmed — PayPal president Scott Thompson has been hired.

Microsoft sues UK retailer for selling fake Windows CDs.

Sears tries to overcome struggles with new marketing talent.

Apple challenged by iPhone clones in China ahead of iPhone 4S arrival next week.

Dollar General announces major expansion plans for 2012.

FedEx and UPS are benefiting from online sales practices.

Florida citrus growers brace for freeze.

Ford plans to unveil SUV in India.Continue reading...

Air France replaces CEO, Mercedes-Benz USA CEO is ousted in Daimler exec shuffle, and Olympus shares plunge as its CEO is fired.

Apple sells 4 million iPhone 4S units in first weekend, as Samsung sues to block the device in Japan and Australia and HTC loses Apple patent case in US. Steve Jobs' Silicon Valley memorial service reportedly filled with humor and music, as company prepares to honor late co-founder and report earnings on Tuesday. Starbucks and Apple are also partnering in the UK on free music downloads.

Mattel eyes UK's HIT Entertainment, home to Thomas the Tank Engine and other kids' properties.

Bank of America posts $6.2 billion quarterly profit, while Goldman Sachs reports $428 million loss.

BlackBerry customers receive free apps and tech support to make amends for outages.Continue reading...

Bank of America is pushed by regulators on contingency plans, as more than a dozen suits against big US banks are expected to be filed in the coming days over bad mortgages.

AstraZeneca fails to beat Pfizer in match of anti-cholesterol drugs Crestor and Lipitor.

BP raid in Russia is suspended.

Baidu, China Mobile and ICBC rank among top brands in China, survey says.

Campbell's profit takes a hit on declining US soup sales.

China Telecom plans UK mobile service before London 2012 Olympics.Continue reading...

News Corp. shares tumble as company goes on PR offensive with print apology as News International's former head Rebekah Brooks was arrested Sunday, London's police chief quits and actor Jude Law claims his phone was hacked. Prime Minister David Cameron called in Parliament to deal with the scandal, as speculation rises about possible harm to Murdoch's US empire.

ABS by Alan Schwartz balks at design copyright protection.

Amana introduces new online shopping tool.

Australia's government launches campaign for carbon tax.

Borders faces liquidation.Continue reading...

J.C. Penney is launching Liz Claiborne's clothing, home and accessories in all 1,100 of its U.S. stores this month, its biggest brand launch ever. "For Penney, this is wonderful," Candace Corlett, president of New York retail consultancy WSL Strategic Retail, tells today's Wall Street Journal. "It's Liz I wonder about."

Why? Liz Claiborne, once the #1 vendor at U.S. department stores, "has effectively ceded control of its iconic brand to Penney as part of the deal," the Journal reports. "The agreement—which calls for Claiborne to give up production and marketing and convert the label into a mass market line in exchange for royalties—was struck only after Macy's Inc. slashed its Claiborne orders last year. The deal gives Penney the option to buy U.S. rights to Liz Claiborne's name in five years."

Read the WSJ's report here, and watch more of J.C. Penney's Claiborne image campaign after the jump.Continue reading...

Dodge will expand the Ram truck division. [Detroit News]

Google unveils 5 new features to their search engine. [FT]

Online retailer Zappo's debuts paper catalog. [NY Times]

Hasbro beats Mattel for a ten-year Sesame Street contract. [NY Times]

Cadbury will make a formal response to Kraft's bid next Monday. [Times of London]

The comeback of India's number two motorcycle maker. [Forbes]

Does appealing to budget conscious consumers hurt the Saks brand? [Globe and Mail]Continue reading...

GM asks CEO Fritz Henderson to resign. [NY Times]

AIG awards the Federal Reserve a $25 billion stake in two companies in leiu of loan payments. [NY Times]

Ford strives to make the Focus a "global car." [WSJ]

JC Penney signs a deal with Europe's hot retailer Mango. [MediaPost]

To Bank of America's dismay, two top candidates for CEO have suggested breaking up the company. [WSJ]

Saab to shut down. Saab to sell. Saab to splinter. Now: In the new year, we'll decide on something. [FT]

Northrop threatens to withdraw a bid before the Pentagon over competition with Boeing. [NY Times]

Christian Lacroix will, in fact, shut down. [Times of London]

(More headlines: Microsoft store, Bebida rebrands as BeBevCo.)Continue reading...

Retailer JCPenney has been as reliable a barometer of US economic swings as any, according to Financial Times. Penney's store sales have tracked almost precisely with economic ups and downs. Penney's sales dropped in the summer of 2007 during a retail slowdown, and again sagged in September and October 2008 after the Wall Street meltdown.

Now Penney is hoping the holiday season will put an end to economic doldrums in the U.S. and is readying a different strategy from last year, when it aggressively discounted its merchandise to move inventory. This holiday season, Penney will offer promotions, but will try to be more selective.Continue reading...