Construction and engineering company URS agreed to buy Flint Energy Services of Canada for $1.25 billion, stepping up the U.S. company's exposure to the North American drilling boom.

Basketball legend Earvin "Magic" Johnson and Comcast are expected to announce that Magic Johnson Enterprises will launch a general interest cable channel on Comcast aimed at the African-American community.

Lloyds Banking Group will reduce some of the bonuses awarded to top executives in 2010 following an insurance misselling scandal that resulted in hefty compensation to consumers, a person familiar with the matter said.

Plus: Do you think the president's budget would help your business?

As troubles grew for Harbinger hedge-fund manager Philip Falcone, he held a conference-call with investors but offered no details on how he planned to overcome a regulatory setback for LightSquared Inc.

The economic package that cleared Congress on Friday includes changes to the nation's unemployment-insurance program aimed at helping more Americans stay in jobs and others go back to work.

Avon has named John Lin president of its China business, as the company works to boost sales in the country amid U.S. government investigations into possible bribery of foreign officials there last decade.

Who offers such a loan? Either an angel or a wiseguy. Who was directing this movie, Capra or Scorsese?

The first arrests in connection with Olympus's accounting scandal indicate that investigators are looking not only at company executives, but also at intermediaries who allegedly helped hide investment losses.

Chrysler Group withdrew a long-stalled application for a $3.5 billion, low-interest loan from the U.S. Department of Energy to fund research and tooling to build more fuel-efficient vehicles.