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.