BP Swings to Loss
BP swung to a loss in the second quarter, as earnings were hit
by lower oil prices and a multibillion-dollar charge relating to
its recent Deepwater Horizon settlement.
Zurich Insurance Considering Offer for RSA
Zurich Insurance said it is considering a potential offer for
the U.K. rival RSA Insurance, a deal that could be valued at around
$7 billion.
Melrose Sells Elster to Honeywell for $5.1 Billion
Manufacturing group Melrose Industries has agreed to sell its
German-based energy and water business, Elster Group, to Honeywell
for £3.3 billion ($5.1 billion) in cash.
Orange Earnings Beat Forecasts
Orange said first-half sales and Ebitda fell less than analysts
expected while net profit increased, amid the French telecom
operator's attempts to revive profitability after years of
decline.
Luxottica's Profit Rose 25% in Second Quarter
Italian eyewear giant Luxottica SpA saw its second-quarter net
profit increase by a quarter, as the weakening euro against the
dollar boosted its sales result in the period.
Deutsche Börse Plans Job Cuts
Germany's Deutsche Börse reported double-digit-percentage rises
in revenue and net profit, and set 2018 earnings targets that will
include job cuts.
Alstom to Lower Price of Energy Assets in Sale to GE
Alstom said it would lower the price for the sale of most of its
energy assets to General Electric, as it seeks to support
concessions the two companies are working on to win European Union
approval for the deal.
Samsung Looks to Bigger Galaxy for Smartphone Star
Samsung is revamping one of its most important product releases
of the year, underscoring the pressures the company faces as its
mobile earnings take a hit from Apple and Chinese rivals.
Baidu Profit Rises 3.3%; Outlook Misses Analysts' Views
Baidu Inc. said its second-quarter earnings rose 3.3%, as
revenue growth was mostly offset by the Chinese search-engine
giant's higher expenses.
GM, SAIC to Jointly Design New Cars
General Motors plans a $5 billion initiative with China's SAIC
Motor to overhaul how it develops cars for emerging markets,
committing to a family of lower-cost Chevrolets for developing
markets by 2019.
Payments Startup Stripe Raises Funds at $5 Billion Valuation
Visa and venture-capital firm Kleiner Perkins Caufield &
Byers were among the investors in the five-year-old startup's
latest funding round.
Baidu Earnings Disappoint
The Chinese search giant missed analyst forecasts for its
second-quarter earnings as competition heats up among Chinese
Internet companies offering online-to-offline services.
Caterpillar to End Navistar Dump-Truck Deal
Caterpillar Inc. plans to begin building its own line of dump
trucks at a plant in Texas and wind down an existing arrangement it
has with Navistar International Corp. to build the trucks, a person
familiar with the matter said.
At P&G, Lafley Prepares to Hand Over Reins
Procter & Gamble is expected to soon name David Taylor as
CEO, succeeding A.G. Lafley, who came out of retirement to take a
second stint running the company.
Southwestern Energy Swings to a Loss
Southwestern Energy swung to a loss as it posted a $1.5 billion
pretax impairment charge and prices fell for oil, gas and
natural-gas liquids.
Nike CEO Compensation Rises to $16.8 Million
Nike Inc. Chief Executive Mark Parker's total compensation for
the year ended May 31 was valued at $16.8 million, up from $14.7
million the previous year.