The News of the World, the British tabloid newspaper beset with a widening phone-hacking scandal, will shut down as result of the imbroglio, a top executive of its parent company said Thursday. The News, a feisty, hugely profitable daily that has been continuously published for 168 years, will cease publishing on Sunday, said James Murdoch, the son of media baron Rupert Murdoch, whose News Corp. owns the newspaper.