APPLE REPORTS STRONG IPHONE SALES

Ahead of a refresh of the iPhone, Apple reported 12% profit growth and strong sales of its current handset, especially in markets far afield from its traditional customer base in the U.S.

EU APPROVES OVERHAUL OF GREEK BANKS

European Union regulators approved the restructuring of Greece's two biggest banks, saying significant government support provided to the lenders during the region's financial crisis didn't violate EU competition rules.

WHIRLPOOL CUTS GUIDANCE, POSTS DECLINE IN PROFIT

Whirlpool's 2Q profit fell to $179 million, or $2.25 a share, as the appliance maker's international operations experienced weak sales. Overall sales declined to $4.68 billion. Results missed analysts' expectations by a wide margin.

DAIMLER SECOND-QUARTER PROFIT RISES

Daimler reported a sharp rise in second-quarter operating earnings on record sales at its Mercedes-Benz luxury car division and confirmed it expects to report significant growth for the full year.

ABB PROFIT FALLS AMID REVAMP

ABB reported worse-than-expected earnings in its second quarter as the power and automation giant presses ahead with a review of its operations that has already seen it shed some fringe businesses.

REPORTING PROBLEMS FOUND AT DEUTSCHE BANK

An examination by the New York Fed found that Deutsche Bank's giant U.S. operations suffer from a litany of serious problems, including shoddy financial reporting, inadequate auditing and oversight and weak technology systems.

ALSTOM ORDERS DOUBLE BUT SALES FALL

Alstom said orders doubled in the first quarter, boosted by its largest-ever train contract in South Africa, though orders for power equipment fell during the period.

IBERDROLA 1H PROFIT DOWN 13% ON TEPID DEMAND

Spanish utility giant Iberdrola said its profit fell about 13% in the first half of this year, weighed down by weak electricity demand overall.

MICROSOFT'S PROFIT TAKES HIT ON NOKIA

Nokia's former handset operation, which Microsoft bought for more than $7 billion in April, drained nearly $700 million from operating profit in the quarter, the company said.

BHP OUTPUT TRUMPS FORECASTS FOR FISCAL YEAR

BHP Billiton exported more iron ore than expected from mines in Australia's northwest last fiscal year even after lifting guidance twice, as the world's largest mining company aimed to squeeze more from its operations.

RBA HOPES TO GET CHINA INVESTMENT QUOTA SOON

Australia's central bank said it hoped shortly to obtain a quota from China allowing Australian financial institutions to invest in the mainland, opening a path to investment in Chinese bonds and equities traded directly in Renminbi.

BROADCOM TO CUT 2,500 JOBS

Broadcom said about 2,500 employees will lose their jobs as it moves to wind down rather than sell an operation that had been making baseband chips for mobile devices.