Altria Nudges Guidance Higher as Revenue Rises

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Altria Group nudged its earnings guidance higher on Wednesday, as improved cigarette shipment volumes led to better-than-expected revenue in the June quarter.

GSK Posts Sharp Fall in Profit

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GlaxoSmithKline reported a sharp drop in net profit for the second quarter, reflecting the increased dominance of lower-margin vaccines and over-the-counter medicines in the company’s portfolio following its $20 billion asset swap with Novartis.

Apollo Global Reports Lower Earnings

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Apollo Global Management said Wednesday that its second-quarter earnings fell 21% on a sharp decline in deal profits.

U.S. Health-Spending Growth Jumped to 5.5% in 2014

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Growth in national health spending, which had dropped to historic lows in recent years, has snapped back and is set to continue at a faster pace over the next decade, federal actuaries said.

GM, Ford Flourish Out of the Limelight

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A sharp earnings acceleration by the top U.S. auto makers through June is overshadowing Volkswagen’s sweet success in finally capturing the global sales crown from Toyota.

Carlyle Group's Profit Jumps

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Carlyle Group on Wednesday said its second-quarter profit rose 55%, as it continued to sell stakes in the companies it owns. But it saw a decline in another key profitability measure.

Solvay to Buy Cytec Industries for $5.5 Billion

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Belgium-based chemicals company Solvay said it is buying U.S. counterpart Cytec Industries for $5.5 billion in a bid to become a major player in the production of light-weight materials for airplanes and high-end cars.

Rising Rents Outpace Wages in Wide Swaths of U.S.

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The cost of renting a home is rising faster than wages across wide swaths of the country, a problem that has become especially acute in the past year, putting a big squeeze on many household budgets.

Global Markets Build on Gains

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Global stock markets were steady following a slight rebound in Chinese equities, but trading volumes were expected to remain thin and investors cautious ahead of a policy statement from the U.S. Federal Reserve.

Siemens, Bombardier in Talks on Train Merger

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German industrial conglomerate Siemens is in talks to combine its rail unit with Canada-based Bombardier’s train business, people familiar with the matter said.

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