China-led Consortium Withdraws Bid for Australian Cattle Empire 

Chinese investors have withdrawn a bid to buy Australia's largest cattle-ranch empire, S Kidman & Co. Ltd., after the government recently said it planned to reject the deal on grounds that it wasn't in the country's interest. (published 0551 GMT)

 
 
Solvay to Sell 70.59% Stake in Solvay Indupa to Brazil's Unipar Carbocloro 

Franco-Belgian chemicals company Solvay SA said Tuesday it was selling its 70.59% stake in Solbay Indupa, its unit in Argentina and Brazil, to Brazilian chemical company Unipar Carbocloro. (published 0546 GMT)

 
 
Fresenius Profit Lifted by Medical Care Unit 

German healthcare company Fresenius SE said Tuesday that its first-quarter revenue and profit rose, helped by a lower tax rate and robust sales growth at Fresenius Medical Care. (published 0549 GMT)

 
 
UBS Profit Hurt by Wealth Management Decline -- Update 

UBS Group AG said Tuesday that its first-quarter net profit fell sharply from the same period last year, as the Swiss lender's wealth management business suffered and its investment bank failed to pick up the slack. (published 0544 GMT)

 
 
Commerzbank Outlook in Doubt as Profit Drops 

Commerzbank AG cast further doubt over its full-year outlook Tuesday as first-quarter net profit more than halved, with the German bank battling ultralow interest rates and sluggish activity in capital markets. (published 0533 GMT)

 
 
Lufthansa Reports Smaller Operating Loss, Plans to Trim Capacity 

Deutsche Lufthansa AG posted a narrower first quarter-operating loss, a closely watched measure of its performance, and said it may cut capacity to offset weak ticket prices. (published 0546 GMT)

 
 
Alipay Users Can Now Use it to Hail Uber Cars World-Wide 

Users of China's most popular digital-payment service, Alipay, can now use the mobile app to hail a car anywhere in the world where Uber is available. (published 0530 GMT)

 
 
Solvay 1Q Net Income Down 5% 

Franco-Belgian chemicals company Solvay SA reported a 2% rise in earnings on Tuesday for the first quarter of 2016, while its net income dropped 5% from the year-earlier period. (published 0542 GMT)

 
 
BNP Paribas Profit Up as Loan Provisions Drop -- Update 

French bank BNP Paribas SA reported a jump in first-quarter net profit on Tuesday despite difficult markets, as lower provisions against bad retail loans and a debt valuation adjustment helped offset sharply lower investment banking revenue. (published 0510 GMT)

 
 
PLDT 1Q Net Profit Drops 34% to PHP6.2 Billion 

Philippine Long Distance Telephone Co. said Tuesday net profit in the first quarter dropped 34% from the previous year to 6.2 billion pesos, weighed down by higher product subsidies, financing costs and depreciation charges. (published 0515 GMT)

 
 
Fairway Group Holdings Files for Chapter 11 Bankruptcy Protection 

New York supermarket chain Fairway Group Holdings Corp. Cl A said late Monday it has filed for Chapter 11 bankruptcy protection, months after warning of the possibility of breaching its loan agreement. (published 0533 GMT)

 
 
SM Investments 1Q Net Profit PHP7.0 Bln, Up 3.6% From Year Ago 

SM Investments Corp., the Philippines' largest conglomerate by market capital, said Tuesday net profit in the first quarter rose 3.6% year over year to seven billion pesos, underpinned by strong consumer spending. (published 0536 GMT)

 
 
HSBC Holdings 1Q Net Profit US$4.30 Bln 

HSBC Holdings PLC said market volatility in the beginning of 2016 dragged on its ability to generate revenue as it reported a 18.2% decline in net profit in the first quarter of this year. (published 0447 GMT)

 
 
Bank of the Philippine Islands 1Q Net Profit Up 1.3% at PHP4.98 Bln 

Bank of the Philippine Islands said Tuesday its first-quarter net profit rose 1.3% from a year earlier to 4.98 billion pesos, driven by higher lending and non-interest income as well as securities trading. (published 0449 GMT)

(END) Dow Jones Newswires

May 03, 2016 02:00 ET (06:00 GMT)