Matt Egan

Verizon Sees Up to $10 Billion of 4Q Charges

Verizon Communications plans to take up to $10 billion worth of charges in the fourth quarter tied to pension liabilities as well as about $1 billion of Hurricane Sandy-related costs.

J.C. Penney Reveals 28% Tumble in 4Q Sales

Slammed by a 28% dive in sales and shrinking margins, struggling department store J.C. Penney disclosed a weaker-than-expected fourth-quarter loss of more than $500 million.