Apple Reports 33% Rise in Earnings

Apple continued to defy the problems gripping the rest of the smartphone market, posting a 33% increase in quarterly profit to $13.57 billion on the back of surging iPhone sales and explosive growth in China. Revenue rose 27% to $58.01 billion.

Santander Profit Rises

Spanish lender Santander's net profit rose from a year earlier as Spain's economic recovery helped to buoy revenue growth in its home market.

BP Profit Hit by Lower Oil Prices

BP reported a fall in first-quarter profit, giving the first glimpse of how low prices through the beginning of 2015 affected the world's biggest oil companies.

Orange Slows Decline in Revenue

Orange said revenue and profitability slid again in the first quarter, but at a slower rate than last year, buoyed in part by strong sales of Apple's new iPhone as the company begins a wave of investment to restore growth.

Philips Profit Slumps as Costs Bite

Philips posted a 28% fall in net profit as a result of costs related to the separation of its lighting activities, even as it recorded a rise in sales.

Swedbank Net Profit Rises

Swedish lender Swedbank Tuesday criticized the Swedish central bank's decision to drive interest rates into negative territory as it reported a 9% rise in first quarter net profit, driven by higher net interest income and commissions.

FDA Fast-Tracks Sanofi's New Drug for Fabry Disease

The U.S. Food and Drug Administration, or FDA, granted fast-track designation for the development of a new drug aimed at treating Fabry disease developed by biotech Genzyme, according to its parent company French pharmaceutical giant Sanofi.

Telenet Lifts Revenue but Profit Slips

Belgian telecom group Telenet Group Holding said Tuesday that its revenue rose 6% year-on-year in the first quarter, to $481.69 million, driven by more subscriptions for its mobile-phone and triple-play services.

Cnooc to Tap USD Bond Market for Funds

Offshore oil producer Cnooc plans to issue U.S. dollar bonds for general corporate purposes, becoming the latest Chinese energy giant to tap the bond market for funds at a time of low oil prices.

Best Buy to Accept Apple Pay

Best Buy said it would join the growing list of retailers accepting Apple Pay this year, undercutting a merchant-led group that had hoped to beat Apple with its own mobile-payment system.

Moody's Confirms Ratings for Brazil's Petrobras

Moody's Investors Service said Monday that it confirmed all ratings for Brazilian state-run energy giant Petróleo Brasileiro with a stable outlook for the company and its guaranteed debt.