Struggling wireless carrier Mobilicity has taken the first step in the process of being acquired by Telus in a $380-million deal that will ultimately need federal government approval. Debtholders of Mobilicity approved a plan on Thursday to sell the company to Telus Corp., which will go to court for approval of the deal early next week. An acquisition by Telus would provide continuing service for Mobilicity's 250,000 cellphone customers and jobs for its 150 employees, said Mobilicity president and chief operating officer Stewart Lyons.

Japanese office equipment and digital camera maker Ricoh will cut 338 jobs in France, some 13 percent of its workforce in the country, union officials said Thursday. "The management told us it intends to cut 338 posts among the 2,500 the company has in France," said CGT union representative Thang Doan following a meeting with company officials. Hit hard by the 2008-09 global financial crisis and stiff competition, Ricoh announced two years ago that it planned to shed 10,000 jobs, a tenth of its global workforce, with the first major wave of cuts to take place in 2014.

By Deepa Seetharaman DETROIT (Reuters) - Tom LaSorda, the former chief executive of Chrysler Group LLC and Fisker Automotive, is launching a venture capital fund with racing magnate Roger Penske to invest in technology startups. The fund, IncWell LP, will provide initial investments ranging from $50,000 and $250,000. IncWell has "strong interests" in the areas of clean energy, medical, healthcare, transportation and information applications.

DENVER - In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill. The Oklahoma City-based arts-and-crafts chain argues that businesses — not just the currently exempted religious groups — should be allowed to seek exception from that part of the health law if it violates their religious beliefs.