AP - The 2011 holiday shopping season will go down in the record books as the year the Grinch stole stores' profits.

Reuters - The ousted CEO of Olympus Corp, Michael Woodford, said on Friday he is calling a halt to his three-month battle to replace the management of the scandal-tainted Japanese endoscope maker and to return to lead the battered company.

AP - U.S. oil supplies rose in the last week of 2011, capping a year of weak demand and sending oil prices lower on Thursday.

AP - California faces a smaller budget deficit in the coming fiscal year but will require nearly $5 billion in cuts to public education if voters reject Gov. Jerry Brown's plan to raise taxes in the fall, the governor's office said Thursday in releasing its budget proposal for the 2012-13 fiscal year.