PHILIPS TO SPLIT OPERATIONS

Philips said it would split into two new companies and prepare its lighting business for a stand-alone future, marking a new phase in the overhaul of the Dutch conglomerate.

TESCO'S NEW CFO TO JOIN EARLY

Tesco said that its new Chief Financial Officer Alan Stewart would join immediately, several months earlier than planned, as the retailer investigates a "serious issue" with its accounts that led to a $409.7 million overstatement of its first-half profit forecast.

BHP BILLITON-MITSUBISHI VENTURE TO CUT 700 JOBS

BHP Billiton and Mitsubishi will cut around 700 jobs from their joint Australian coal-mining operations, in a continued effort to cut costs as prices for the fuel stagnate near multiyear lows.

GAZPROM, PETROVIETNAM SEEK TO INK REFINERY DEAL BY NOVEMBER

Russia's Gazprom is accelerating talks with Vietnam Oil and Gas Group, or PetroVietnam, to buy a stake in the Dung Quat oil refinery, PetroVietnam said.

JIMMY CHOO PLANS LONDON LISTING

Luxury shoe brand Jimmy Choo plans to list its shares on the London Stock Exchange in October.

DEUTSCHE BANK FIRES SYDNEY TRADER

Deutsche Bank fired a currency trader at its Sydney office in August after the German lender uncovered that he allegedly hid losses.

CHINA RONGSHENG STILL IN TALKS TO RESTRUCTURE UNIT

China Rongsheng Heavy Industries said that it was still in talks with third parties to help with the potential restructuring of its main Chinese shipbuilding unit.

CHEVRON MULLS SALE OF REFINERY IN HAWAII

Chevron is considering the sale of its refinery in Hawaii and has hired an investment bank to look for buyers, the company confirmed late Monday.

RADIOSHACK SUPPLIER DECLINED TO HELP RESCUE EFFORT

RadioShack has tried--unsuccessfully so far--to convince a major supplier to alter its terms as the struggling electronics retailer works to avoid a bankruptcy filing.