FORD 2Q PROFIT RISES 6%
Ford Motor's 2Q net income rose 6% to $1.3 billion, driven by a
record quarter in North America, strong results in Asia and the
first quarterly profit in Europe in three years. Revenue fell
slightly to $37.4 billion.
NOKIA SWINGS TO 2Q PROFIT
Finland's mobile-network maker Nokia said its expectations for
2014 have improved, as its financial performance in the latest
quarter was boosted by the sale of its handset business to
Microsoft.
CALPERS PULLS BACK FROM HEDGE FUNDS
Public pensions from California to Ohio, including the largest
public pension fund in the U.S., Calpers. are backing away from
hedge funds because of concerns about high fees and lackluster
returns.
DEFENSE CONTRACOR RAYTHEON'S PROFIT RISES 12%
Raytheon reported a 12% rise in 2Q profit, although a closely
watched measure of new business fell short of analysts'
expectations. Sales dropped at all four of its divisions, slipping
to $5.7 billion.
U.K.'S SFO BRINGS CHARGES AGAINST ALSTOM UNIT
The U.K.'s Serious Fraud Office said it brought criminal charges
against a U.K. subsidiary of French power and transportation
company Alstom over allegations of corruption.
UNILEVER SEES SLOWDOWN IN EMERGING MARKETS
Unilever indicated a further sales slowdown in emerging markets,
even as first-half profit grew on the back of a number of
disposals.
SABMILLER SALES, VOLUMES RISE IN 1Q
The world's No. 2 brewer SABMiller said sales and beer volumes
rose steadily in the first three months of its financial year,
buoyed by strong growth in Africa and Europe.
ELI LILLY PROFIT FALLS 39% ON PATENT EXPIRATIONS
Eli Lilly said its 2Q profit slid 39% to $733.5 million, or 68
cents a share, as patent expirations for some of its bigger-selling
drugs dragged down revenue and volume. Revenue slid 17% to $4.94
billion.
BASF PROFIT LIFTED BY SPECIALTY CHEMICALS
German chemicals giant BASF said that second-quarter net profit
jumped 12%, boosted by its industrial and specialty chemicals
division.
AIR ALGERIE FLIGHT REPORTED MISSING
An Air Algerie airplane traveling from Burkina Faso to Algiers
with 110 passengers and six crew members on board was reported
missing by the Spanish company that operated the plane.
BOEING CLINCHES DEAL TO SELL PARTS TO IRAN
Boeing has agreed the conditions by which it could sell aircraft
spare parts to state-owned Iran Air, a move that could lead to the
first sale of products by a U.S. aerospace company to the Islamic
republic since 1979.
EX-BANCO ESPÍRITO SANTO HEAD DETAINED
Ricardo Salgado, who until recently was chief executive of
troubled Portuguese lender Banco Espírito Santo, has been detained
for questioning as part of a three-year money-laundering and tax
evasion investigation.
CANON PROFIT JUMPS 22%
Canon Inc. said its net profit jumped 22% in the April to June
period thanks to surging sales of multifunction office devices and
industrial equipment. The office equipment and camera maker said
its net profit rose to 80.8 billion yen.
LG DIALS UP A SMARTPHONE TURNAROUND
LG Electronics said its net profit rose sharply in the second
quarter as its mobile business staged a turnaround on higher
smartphone sales.
REED ELSEVIER POSTS LOWER PROFIT
Reed Elsevier reaffirmed its outlook for the year, even as the
Anglo-Dutch publishing and exhibitions company posted a fall in
first-half profit on lower revenue.
ROCHE PROFIT DENTED BY CURRENCIES
Roche reported that first-half net profit slid 7%, but strong
sales of its cancer therapies prompted the Swiss drug giant to
confirm its outlook for the year.