Credit Suisse Posts Surprise Profit on Fall in Revamp Costs 

Credit Suisse Group reported a quarterly profit as expenses fell, marking a rare bright spot for the Swiss bank as it presses ahead with a radical overhaul amid challenging markets.

 
BNP Paribas Bolstered by Falling Bad Loan Provisions 

French bank BNP Paribas said net profit in the second-quarter was flat as lower provisions set against bad loans and a gain on the sale of its shares in Visa Europe helped make up for a sharp decline in equity trading.

 
Shell Profit Hit Hard by Low Oil Prices 

Royal Dutch Shell reported a sharp drop in second-quarter profit compared with a year earlier as lower oil and gas prices weighed on earnings.

 
Total's Second-Quarter Profit Falls 30% 

Lower oil prices and a weaker refining market dropped the company's net while revenue fell 17%.

 
Danone Profit More Than Doubles 

Strong sales of dairy products and price increases helped Danone beat expectations even as Europe's largest yogurt maker said economic conditions would continue to remain volatile and uncertain.

 
Diageo Profit Hit by Currency Volatility 

Diageo reported weaker profit for the year as the world's largest spirits maker was hit by currency volatility and one-time charges.

 
Renault Board Cuts CEO's 2016 Pay After Spat With Shareholders 

Renault SA's board on Wednesday said it would reduce the next pay package for its chief executive after the car maker's dismissal of a shareholder vote against his 2015 compensation triggered outrage against executive pay in France.

 
SoftBank Net Profit Rises 19% 

SoftBank's net profit for the fiscal first quarter rose 19% in its first earnings report since the Japanese company took the global semiconductor industry by surprise with a $32 billion deal to acquire ARM.

 
BHP Billiton to Take $1 Billion Profit Hit From Brazil Dam Charges 

BHP Billiton said it would record a provision of over $1 billion relating to last year's deadly dam failure at a Brazilian iron-ore mining operation

 
Atlas Resource Partners Files for Chapter 11 Bankruptcy 

Atlas Resource Partners filed for chapter 11 bankruptcy Wednesday evening after negotiating a plan to slash some $900 million in debt off its books.

 
Suncor Energy Swings to Loss on Impact of Wildfires, Low Oil Prices 

Alberta's wildfires in May caused Canada's largest crude-oil producer to shut down operations in the area for weeks.

 
Halcón Resources Files for Chapter 11 Protection 

The Houston oil and gas explorer is seeking speedy court approval for a chapter 11 plan that would cut its debts by about $1.8 billion and reduce annual interest expenses by $200 million.

 
Samsung Reports Most Profitable Quarter in Two Years 

Samsung Electronics reported its most profitable quarter in two years, helped by strong sales of its flagship Galaxy S7 smartphone.

 
AIA Group's New-Business Value Surges 37% 

AIA Group's new-business value, a key measure of insurers' profitability, rose 37% in the first half of the year, fueled by growth in Hong Kong and China.

 
Alcoa to Seek 1-for-3 Reverse Stock Split 

Alcoa Inc. plans to cut the number of its publicly traded shares with a 1-for-3 reverse stock split, as the aluminum maker prepares to split into two companies.

(END) Dow Jones Newswires

July 28, 2016 02:54 ET (06:54 GMT)

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