SEARS POSTS LOSS AS REVENUE, MARGINS DECLINE

Sears Holdings, the struggling store operator that was once a prominent fixture of the U.S. retail landscape, posted a $573 million loss in its fiscal second-quarter, as revenue and margins declined.

SINOPEC IN TALKS OVER RETAIL UNIT

China Petroleum & Chemical, or Sinopec, is in talks with numerous Chinese companies, including Tencent Holdings, about either selling a stake or forming alliances in its gas-station-to-convenience store business.

BOFA TO PAY NEARLY $17B IN DOJ SETTLEMENT

Bank of America is said to be expected to pay nearly $17 billion to settle U.S. Department of Justice accusations it packaged shoddy mortgages into securities and sold them to investors in the run-up to the financial crisis.

COOLPAD EYES EXPANSION, CONSIDERS ACQUISITIONS

After overtaking Samsung Electronics to become the third-largest smartphone maker in China, Coolpad, a brand little known outside of the country, is now setting its sights overseas.

LEXUS CUTS PRICES FOR SPARE PARTS IN CHINA

Toyota Motor Corp.'s luxury brand Lexus announced a 26% cut on the price of spare parts in China, joining other foreign car makers in appeasing Chinese regulators amid an antitrust investigation,

AUSTRALIA WATCHDOG SUPPORTS FUNG'S CASINO TAKEOVER

Hong Kong investor Tony Fung's bet on Australia's gambling industry won support from the country's competition regulator, which said it wouldn't block the planned $201.3 million acquisition of a casino in tropical Cairns.

TREASURY WINE RESULT TAKES HEAT OUT OF BID BATTLE

Australia's Treasury Wine Estates--enmeshed in a takeover battle led by two private-equity firms--hit the bottom end of its annual earnings guidance, easing pressure on the suitors to raise their evenly matched $3.14 billion offers.

ASCIANO CEO SAYS DEEPENING TALKS OVER PORTS STAKE SALE

Australian freight group Asciano is deepening talks to sell part of its ports and logistics business, although stressed it isn't under any financial pressure to finalize a deal.

ORIGIN ENERGY PULLS SHARE ISSUE

Origin Energy Ltd. surprised investors by dropping plans for a 1 billion Australian dollar share issue in favor of a European debt raising.