BP Posts $6 Billion 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 Weighs RSA Bid
Zurich Insurance said it might try to buy U.K.-based RSA
Insurance in a deal that could be valued at more than $8
billion.
Honeywell Pays $5.1 Billion for German-Based Elster
Honeywell has agreed to buy German-based energy and water
business Elster Group from the U.K.'s Melrose Industries for £3.3
billion ($5.1 billion) in cash.
Orange's Sales Beat Expectations
Orange said first-half sales fell less than expected, as more
customers in France opted for premium offers and the effects of a
brutal price war in the country's mobile market showed signs of
easing.
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.
GKN Ups Aerospace Stakes With Fokker Buy
GKN has agreed to acquire the Netherland's historic Fokker
Technologies Group as the British engineering company deepens its
bet on the aerospace sector.
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.
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.
Auto Regulators Vow to Continue Crackdown
Regulators who hit Fiat Chrysler with a $105 million settlement
vowed to continue a crackdown on car makers over safety lapses.
Virgin Galactic Awaits NTSB Findings
Federal investigators looking into the 2014 crash of a Virgin
Galactic-backed experimental rocket ship are poised to highlight
safety lapses during flight preparation, according to people
familiar with the matter.
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.