TESCO WARNS ON PROFIT

Tesco issued its third profit warning in as many years and said it would slash its interim dividend and reduce capital expenditure, underscoring the challenge facing incoming CEO Dave Lewis.

MALAYSIA AIRLINES REVIVAL TO COST UP TO $1.9 BILLION

Malaysia's state investor plans to spend up to US$1.9 billion to revive Malaysia Airlines, which will cut staffing levels by 30% and stop flying unprofitable routes.

FIAT AVOIDS CHRYSLER MERGER ROAD BLOCK

Fiat got the green light from shareholders to create Fiat Chrysler Automobiles, a company with a tax residency in the U.K., legal headquarters in Amsterdam and a primary stock listing in New York.

WOODSIDE PROFIT RISES ON OIL OUTPUT

Woodside Petroleum reported a 27% increase in first-half profit, as crude-oil prices stayed high and a vessel that pumps oil from deep below the sea off northwestern Australia resumed work following maintenance.

VIRGIN AUSTRALIA SELLS STAKE IN FREQUENT-FLIER BUSINESS

Virgin Australia Ltd. sold a stake in its frequent-flier business to U.S. private-equity firm Affinity Equity Partners after the airline posted a deep annual loss.

NATIONAL AUSTRALIA BANK TO SELL GREAT WESTERN STAKE IN IPO

Less than a month into the job, National Australia Bank Ltd.'s new Chief Executive Andrew Thorburn has begun a process its shareholders have been urging for some time--selling global assets to refocus energies closer to home.