Barclays Profit Takes Hit From Asset Sales

Barclays' first-half net profit slipped nearly a third as the bank sucked up losses selling down unwanted assets and put aside cash to cover rising bad loans.

 
Casino Profit Leaps on Asset Sales

Groupe Casino's profit skyrocketed in the first half of the year as the French retailer booked a massive capital gain from the sale of supermarket chains in Asia.

 
ArcelorMittal Posts Surge in Profit on Exceptional Item

Steel giant ArcelorMittal said net profit rose in the second quarter from a year earlier due to a one-time gain and said it was optimistic about a better second half but cautioned that excess steel capacity globally remains a concern.

 
AB InBev Profit Hit by Foreign-Exchange Charge

Anheuser-Busch InBev reported a huge drop in second-quarter net profit, as it booked a $1.77 billion charge against foreign-exchange hedging related to its megamerger with SABMiller.

 
Spanish Bank BBVA Posts Drop in Profit but Beats Analysts' Forecasts

Though the lender's second-quarter earnings fell 8%, its net interest income, a key measure for banks, rose 9%.

 
Sanofi Profit Down as Diabetes Drug Sales Slide

French drugmaker Sanofi reported a fall in second-quarter net profit, hurt by dwindling diabetes U.S. sales and adverse currency moves but said it still expected to meet its profit target this year.

 
UBS Profit Falls But Beats Forecasts

UBS posted a reduced second-quarter profit that nonetheless topped expectations, as the Swiss bank cut expenses while it continued to contend with turbulent markets.

 
Monte dei Paschi Discloses Proposals From Corrado Passera, UBS

Banca Monte dei Paschi di Siena SpA said late Thursday that it has received letters from Corrado Passera, a prominent former bank executive and government minister in Italy, and from Swiss bank UBS AG with proposals for the bank.

 
Facebook May Owe Billions More in Taxes

Facebook said it could be on the hook for $3 billion to $5 billion in additional taxes as a result of an IRS investigation into how the social network transferred assets overseas.

 
Microsoft to Shed 2,850 Additional Jobs

Microsoft Corp. plans to lay off 2,850 employees, adding to previously announced job cuts as it retools its sales operations and dismantles its mobile phone hardware business.

 
Mobile Strength Propels Google

Google parent Alphabet said quarterly profit soared 24%, the second internet giant in two days to report blockbuster earnings driven by consumers' rapid shift to mobile devices.

 
Amazon Posts Another Blockbuster Profit

Amazon reported another record profit and its fifth-straight quarter in the black as it continued to reap new sales from Prime memberships and its relentless push to deliver goods ever faster.

 
Sony Reports Surprise Profit

The April-June profit defied analysts' expectations for a loss due to weak image-sensor sales and the costs from recent earthquakes.

 
Safran in Talks Over Future of ID & Security Business

French aerospace supplier Safran SA Friday said first-half operating profit rose 11.1%, propelled by strong demand for new aircraft engines.

 
Judge Dismisses $24 Billion Lawsuit Against Credit Suisse

A federal judge has dismissed a lawsuit accusing Credit Suisse of running a predatory loan-to-own scheme that plaintiffs claimed loaded four luxury ski and golf resorts with debt so it could foreclose on their assets.

 
Baidu Suffers Record Plunge in Profit

The internet giant suffered its biggest earnings drop since going public 11 years ago, after government investigations into its search and advertising practices led to stricter regulations.

(END) Dow Jones Newswires

July 29, 2016 02:56 ET (06:56 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.