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J.C. Penney Co. named Myron E. Ullman III, a former chairman and chief executive of both Macy's and luxury retailer LVMH Moet Hennessy Louis Vuitton, to lead the department store company, replacing Allen Questrom effective Dec. 1.

Eastman Kodak Co. is shutting three photofinishing labs in Spain and Norway, shrinking a fourth lab in Switzerland and eliminating about 300 jobs as the world's biggest film manufacturer bets its future on digital photography.

Land Rover's new entry in the sport utility segment has claimed the honor of Motor Trend Magazine's 2005 SUV of the Year. The LR3, which goes on sale next month, competed against six other new or significantly reengineered SUVs: the Chevrolet Equinox, Ford Escape Hybrid and Freestyle, Jeep Grand Cherokee, Infiniti QX56 and Nissan Pathfinder.

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