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Capital One Financial Corp., the holding company of Capital One Bank, plans to eliminate about 750 jobs as it outsources the majority of its production service operations, the company said Tuesday.

Federal regulators gave a boost Tuesday to the fledgling Internet phone industry, removing a regulatory hurdle that threatened to drive up the cost of making calls through cyberspace. The Federal Communications Commission voted 5-0 for a petition by Vonage Holdings Corp. of Edison, N.J., which had asked the agency to declare the company's product an interstate service, giving the FCC regulatory control.

May Department Stores Co., which owns the Kaufmann's and Lord & Taylor stores, reported an 83 percent drop in third-quarter earnings Tuesday, dragged down by costs associated with its acquisition of the Marshal Field's chain and lackluster sales in apparel.

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