US Business News

Nokia Swings to Profit

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Finland's mobile-network maker Nokia said its expectations for 2014 have improved, as its financial performance in the latest quarter was helped by the sale of its handset business to Microsoft.

SABMiller Beer Volumes Rise

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The world's No. 2 brewer SABMiller said sales and beer volumes rose steadily in the first three months of its financial year, buoyed by strong growth in Africa and Europe.

Roche Hurt by Currencies

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Roche Holding's first-half net profit slid 7% under pressure from exchange rates but strong sales of its cancer therapies prompted the Swiss drug giant to confirm its outlook for the full year.

Unilever's Emerging Market Growth Slows

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Unilever flagged a further slowdown in the emerging markets, even as first-half profit grew on the back of a number of disposals.

Repsol Posts Rise in Second-Quarter Profit

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Spanish oil major Repsol reported a 95% rise in second-quarter profit, boosted by the sale of stock in its former Argentine unit and bonds the company received in compensation for its nationalization.

Thailand's CP Group to Buy Stake in Japanese Trader Itochu

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Japan's third largest trading company said Thursday that the Charoen Pokphand Group would take a 4.9% stake, injecting up to $1 billion into the firm.

LG Dials Up a Turnaround

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LG Electronics said its net profit rose sharply in the second quarter as its mobile business staged a turnaround on higher smartphone sales.

Facebook Answers Critics With Mobile-Ad Surge

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Facebook reported that profit more than doubled and revenue topped estimates for the ninth straight quarter. About 62% of Facebook's ad revenue now comes from advertising on mobile devices.

BASF Lifted by Specialty Chemicals

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German chemicals giant BASF said second-quarter net profit jumped 12%, boosted by its industrial and specialty chemicals division, despite a deteriorating global economic outlook and heightened geopolitical risks.

Hyundai Motor Profit Skids

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Hyundai Motor second-quarter net profit fell 6.9%, hurt by a stronger local currency and higher costs incurred for improving its U.S. market share.

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