Exxon Warns on Reserves as it Posts Lower Profit

Exxon Mobil said that it may be forced to recognize that billions of barrels of its reserves are no longer profitable to produce. The disclosure came as the oil producer reported a 38% decline in quarterly profit.

MasterCard Profit, Revenue Top Expectations

MasterCard profit grew 21% in the latest period, as card companies have been trying to increase transactions by adopting new payment methods.

General Electric Pursues Deal With Baker Hughes

General Electric is in talks to merge its oil-and-gas business with Baker Hughes, according to people familiar with the matter, a transaction that would dramatically reshape the industrial giant.

Hershey Revenue and Profit Rise in Latest Quarter

Hershey Co. said revenue and profit rose in its third quarter as the chocolate maker continues to search for a new leader and craft a path forward as an independent company after a rejected takeover.

Phillips 66 Posts Revenue and Profit Decline

Phillips 66 said profit and revenue dropped as low commodity prices continued to hurt results, and it lowered its forecast for annual capital expenditures to about $3 billion.

Hong Kong Regulator Probes UBS Over IPOs

The Swiss lender said Hong Kong's Securities and Futures Commission is investigating its role in some initial public offerings it has brought to market.

UBS Profit Falls as Risk-Averse Clients Curb Revenue

UBS said net profit declined as it continued to cope with wary clients, and that a Hong Kong regulator is scrutinizing its work bringing companies to the public markets.

Chevron Returns to Profit, but Revenue Slides

Chevron said its quarterly profit plunged 35% from a year earlier and revenue slid more than expected amid low oil prices, though the company returned to the black after three straight quarters of losses.

Saudi Aramco Says Employee Took Bribe From Embraer

The Saudi Arabian Oil Co. has confirmed that it has evidence of corruption involving one its employees and Brazilian aircraft maker Embraer SA involving the purchase of three aircraft from the company.

AutoNation to Expand Operations; Profit Falls

AutoNation unveiled a $500 million expansion plan that includes the creation of stand-alone used-car stores and recorded lower third-quarter earnings, hurt by the Takata air-bag recall.

Xerox Settles With Shareholder, Reports Decline in Revenue

Xerox reached a settlement with a major shareholder granting him special shares in the copier maker's two businesses after its split. The company also reported a bigger-than-expected decline in revenue but still swung to a profit.

AB InBev Cuts Revenue Forecast

Anheuser-Busch InBev, in the midst of digesting its $100 billion-plus acquisition of SABMiller, cut its revenue growth forecast for the year after the world's largest brewer reported weaker-than-expected third-quarter results.

Apollo Global's Profit, ENI Top Views

Apollo Global Management's third-quarter profit rose amid gains in its private-equity and credit holdings.

Legg Mason Earnings Top Views

Legg Mason reported earnings that topped expectations in the latest quarter, though revenue came in below estimates.

BNP Paribas Profit Beats Forecasts

French bank BNP Paribas reported better-than-expected third-quarter net profit, boosted by a pickup in fixed income trading. France's largest listed bank by assets reaped the rewards of a bond-trading rebound.

RBS Says It Faces Longer Path to Recovery

Royal Bank of Scotland Group pushed back its long-term financial goals, bogged down by lower interest rates and a deepening struggle to reorganize its franchise.

British Airways Parent IAG Cuts Earnings Outlook

British Airways parent International Consolidated Airlines Group issued a profit warning, cutting its earnings outlook after third-quarter operating profit fell 3.6%, weighed down by the sharp drop in sterling.

Total's Profit Jumps as Cost-Cutting Bears Fruit

French oil giant Total said third-quarter net profit nearly doubled from the same period a year earlier, as deep cost cuts and rising output helped it to ride a modest oil price rally driven by OPEC.

Baidu Offers Grim Forecast After First Loss

After posting its first-ever quarterly revenue decline, Chinese internet firm Baidu said it expected more losses to come as the search engine continues to reel from a medical scandal and heightened regulatory environment that has hammered its advertising business

Hyundai Merchant Marine Among Five Bidders for Hanjin's U.S.-Route Assets

Hyundai Merchant Marine and four other shipping groups submitted preliminary bids for the assets of Hanjin Shipping's Asia-U.S. route, as Hanjin is broken up as part of a restructuring plan.

Amazon Delivers Prime Program to China

The U.S. e-commerce behemoth launched its Prime membership program in mainland China on Friday, in an effort to capitalize on Chinese consumers' desire for overseas products.

Newell Brands Earnings Beat Estimates

Newell Brands Inc. raised the bottom half of its guidance for the year and reported revenue more than doubled and core sales remained strong in the latest quarter as the company works through a transformation.

(END) Dow Jones Newswires

October 28, 2016 09:35 ET (13:35 GMT)

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