UBS Profit Nearly Doubles

UBS said first-quarter profit nearly doubled from the same period last year on gains at its core wealth management business and a strong bump from its pared-down investment bank.

Lafarge and Holcim to Sell U.S., Canadian Assets

French cement giant Lafarge and Swiss rival Holcim have agreed to sell several plants, terminals and a quarry in the U.S. and Canada, clearing the way for their proposed merger.

Lufthansa Returns to Profit

Lufthansa said it swung to a net profit in the first-quarter, helped by a one-off boost from the early exchange of its JetBlue convertible bonds.

Metro's Loss Widens

German retailer Metro said its net loss in the second quarter widened because of an expected goodwill impairment and currency fluctuations, but confirmed its outlook for this fiscal year.

Adidas Profit Surges

Adidas said that first-quarter net profit surged following the improved performance of its Adidas and Reebok brands, with sales growth in almost all of its regions.

Cisco Joins Race to Boost Internet Speeds

The networking-equipment giant on Tuesday plans to unveil some long-awaited products crucial to regaining market share among cable companies.