APPLE REPORTS STRONG IPHONE SALES
Ahead of a refresh of the iPhone, Apple reported 12% profit
growth and strong sales of its current handset, especially in
markets far afield from its traditional customer base in the
U.S.
EU APPROVES OVERHAUL OF GREEK BANKS
European Union regulators approved the restructuring of Greece's
two biggest banks, saying significant government support provided
to the lenders during the region's financial crisis didn't violate
EU competition rules.
WHIRLPOOL CUTS GUIDANCE, POSTS DECLINE IN PROFIT
Whirlpool's 2Q profit fell to $179 million, or $2.25 a share, as
the appliance maker's international operations experienced weak
sales. Overall sales declined to $4.68 billion. Results missed
analysts' expectations by a wide margin.
DAIMLER SECOND-QUARTER PROFIT RISES
Daimler reported a sharp rise in second-quarter operating
earnings on record sales at its Mercedes-Benz luxury car division
and confirmed it expects to report significant growth for the full
year.
ABB PROFIT FALLS AMID REVAMP
ABB reported worse-than-expected earnings in its second quarter
as the power and automation giant presses ahead with a review of
its operations that has already seen it shed some fringe
businesses.
REPORTING PROBLEMS FOUND AT DEUTSCHE BANK
An examination by the New York Fed found that Deutsche Bank's
giant U.S. operations suffer from a litany of serious problems,
including shoddy financial reporting, inadequate auditing and
oversight and weak technology systems.
ALSTOM ORDERS DOUBLE BUT SALES FALL
Alstom said orders doubled in the first quarter, boosted by its
largest-ever train contract in South Africa, though orders for
power equipment fell during the period.
IBERDROLA 1H PROFIT DOWN 13% ON TEPID DEMAND
Spanish utility giant Iberdrola said its profit fell about 13%
in the first half of this year, weighed down by weak electricity
demand overall.
MICROSOFT'S PROFIT TAKES HIT ON NOKIA
Nokia's former handset operation, which Microsoft bought for
more than $7 billion in April, drained nearly $700 million from
operating profit in the quarter, the company said.
BHP OUTPUT TRUMPS FORECASTS FOR FISCAL YEAR
BHP Billiton exported more iron ore than expected from mines in
Australia's northwest last fiscal year even after lifting guidance
twice, as the world's largest mining company aimed to squeeze more
from its operations.
RBA HOPES TO GET CHINA INVESTMENT QUOTA SOON
Australia's central bank said it hoped shortly to obtain a quota
from China allowing Australian financial institutions to invest in
the mainland, opening a path to investment in Chinese bonds and
equities traded directly in Renminbi.
BROADCOM TO CUT 2,500 JOBS
Broadcom said about 2,500 employees will lose their jobs as it
moves to wind down rather than sell an operation that had been
making baseband chips for mobile devices.