EU TELLS GOOGLE TO IMPROVE SEARCH SETTLEMENT

Google must improve its proposal to settle European Union concerns over its search practices or face formal antitrust charges, the EU's competition chief said.

TOYS 'R' US HOLDS LINE ON HOLIDAY HIRES

Toys "R" Us said that it would hire 45,000 seasonal workers this year to help with the crucial holiday-shopping season, the same number of hires it made last year during the period.

GERMAN PROSECUTORS CHARGE DEUTSCHE BANK EXECUTIVE

German prosecutors pressed charges against Deutsche Bank co-Chief Executive Jürgen Fitschen and former board members over alleged false court testimony in the bank's long-running legal battle with the heirs of former media mogul Leo Kirch.

FTC CONSIDERS CHALLENGE TO FOOD MERGER

The Federal Trade Commission is considering a possible antitrust lawsuit to block the planned merger of Sysco and US Foods, concerned that combining them could threaten competition, according to people familiar with the matter.

CHEVRON MULLS SALE OF REFINERY IN HAWAII

Chevron is considering the sale of its refinery in Hawaii and has hired an investment bank to look for buyers, the company confirmed late Monday.

OLD MUTUAL TO SELL US ASSET MANAGEMENT BUSINESS IN US IPO

Old Mutual said it is selling 18.3% of its U.S. institutional asset management business, OM Asset Management, through an initial public offering on the New York Stock Exchange.

RADIOSHACK SUPPLIER DECLINED TO HELP RESCUE EFFORT

RadioShack has tried--unsuccessfully so far--to convince a major supplier to alter its terms as the struggling electronics retailer works to avoid a bankruptcy filing.

PHILIPS TO SPLIT OPERATIONS

Philips said it would split into two new companies and prepare its lighting business for a stand-alone future, marking a new phase in the overhaul of the Dutch conglomerate.

TESCO'S NEW CFO TO JOIN EARLY

Tesco said that its new Chief Financial Officer Alan Stewart would join immediately, several months earlier than planned, as the retailer investigates a "serious issue" with its accounts that led to a $409.7 million overstatement of its first-half profit forecast.

BHP BILLITON-MITSUBISHI VENTURE TO CUT 700 JOBS

BHP Billiton and Mitsubishi will cut around 700 jobs from their joint Australian coal-mining operations, in a continued effort to cut costs as prices for the fuel stagnate near multiyear lows.

PAKISTAN PLANS TO SELL STAKE SALE IN OIL & GAS DEVELOPMENT

Pakistan plans to raise up to $816 million from selling a stake in state-owned Oil & Gas Development, in the country's biggest share sale in eight years.