Business

Business briefs

Jack up

President Obama is close to choosing White House Chief of Staff Jack Lew as Timothy Geithner’s replacement for Treasury secretary, according to two people familiar with the matter.

Too late, Eric?

NY Attorney General Eric Schneiderman’s fraud lawsuit against JPMorgan Chase over mortgage securities sold to investors must be dismissed because the time for bringing the claims has expired, the bank said in papers.

Citi shuffle

Citigroup named Jamie Forese and Manuel Medina-Mora co-presidents as CEO Michael Corbat turned to company veterans to oversee his cost-cutting strategy.

Make noise!

Electric cars, which have soundless engines, would need to make noises to let pedestrians know they’re near, under a proposed rule.

Sears CEO

Sears Holdings Corp. says CEO Louis J. D’Ambrosio is stepping down next month. The company, which operates Sears and Kmart stores, announced yesterday that D’Ambrosio will be replaced by company chairman Edward Lampert.