BMW Hit by Fierce Competition
German premium car maker BMW reported a decline in
second-quarter profit because of fierce competition, despite a rise
in revenue and car sales.
Crédit Agricole Profit Up Sharply
French bank Crédit Agricole posted a sharp jump in
second-quarter net profit, recovering from massive losses it made
in Portugal last year.
Tencent Offers to Buy eLong
Chinese online travel company eLong has received a takeover
offer from its shareholder Tencent, the latest move in a sector
that has seen an abundance of deal activity.
Sprint Names a New CFO
Sprint Corp. said Chief Financial Officer Joe Euteneuer will
leave the company after a transition period and named Tarek
Robbiati CFO.
ITG Ousts CEO Gasser After Probe
Investment Technology Group's investigation found Robert Gasser
failed to disclose some details of alleged improprieties to the
board.
Missing-Jet Probe Enters New Phase
The hunt for Malaysia Airlines Flight 370 reflects the inherent
complexities of a global air-accident investigation, compounded by
a French criminal probe operating entirely independently of the
international effort.
Starboard Discloses MedAssets Stake, Calls For Overhaul
Starboard Value LP, disclosed a stake in MedAssets and is
calling on the company to overhaul operations-and its board.
Pimco Gets Warning From SEC on Fund
Pacific Investment Management disclosed that it received a Wells
Notice from the staff of the SEC concerning the Pimco Total Return
ETF.
Community Health Plans Spinoff, Reports Jump in Earnings
Community Health Systems Inc. raised its earnings guidance for
the year as its second-quarter profit more than doubled thanks to
its acquisition of Health Management Associates Inc.
J.P. Morgan to Accelerate Timeline for Cybersecurity Spending
Boost
J.P. Morgan said it expects to increase spending on
cybersecurity in the coming years, accelerating its initial
timeline of such spending growth.