Advanced Micro Devices Inc. (NYSE: AMD) has hired J.P. Morgan Chase & Co. (NYSE: JPM) to explore options, which may include the firm’s sale. (Reuters)
Federal Reserve Vice Chair Janet Yellen says the Fed may hold interest rates near zero until 2016. (Reuters)
Best Buy Co. Inc.’s (NYSE: BBY) new CEO puts forth a plan to turn the retailer around. (Reuters)
Panasonic will lay off up to 10,000 people. (Reuters)
Peugeot and General Motors Co.’s (NYSE: GM) Opel have stopped talking about a joint venture. (Reuters)
Netflix Inc. (NASDAQ: NFLX) continues to ready itself for a fight with Carl Icahn over the fate of the company. (WSJ)
Bank of New York Mellon Corp. (NYSE: BK) pays $210 million to settle charges that it concealed information about the financial activity of Bernie Madoff. (WSJ)
Chesapeake Energy Corp. (NYSE: CHK) discloses that its optimism about reserves in Ohio have fallen. (WSJ)
Cisco Systems Inc.’s (NASDAQ: CSCO) profits rise, but the company tells investors it continues to face challenges in Europe. (WSJ)
The CFO of Zynga Inc. (NASDAQ: ZNGA) leaves to work for Facebook Inc. (NASDAQ: FB). (WSJ)
Several large American companies plan to cut costs even without a resolution to fiscal cliff issues. (WSJ)
The UAW wants Fiat to pay $342.9 million for the union’s stake 3.3% in Chrysler. (WSJ)
The head editor at The Washington Post Co. (NYSE: WPO) leaves as the paper struggles with revenue. (NYT)
Lloyd Blankfein of Goldman Sachs Group Inc. (NYSE: GS) warns banks not to react too strongly to fiscal cliff concerns, which may be overblown. (FT)
Toyota Motor Corp. (NYSE: TM) will recall 2.77 million cars that have steering problems. (Bloomberg)
Douglas A. McIntyre
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