Glaxo Reduces Earnings Forecast

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GlaxoSmithKline downgraded full-year earnings expectations, as its second-quarter profit was hit by currency moves, weak sales of its respiratory drugs and the continuing bribery investigation in China.

Daimler Profit Boosted by Mercedes

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Daimler reported a sharp rise in second-quarter operating earnings, driven by record sales in its Mercedes-Benz luxury car division, as the German auto maker races to catch up with rivals BMW and Audi.

Japan Backs Overseas Use of Coal

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Japan plans to increase support for coal-fired power plants in developing nations, in a direct challenge to U.S. policy.

Microsoft's Net Takes Hit on Nokia

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Microsoft said its quarterly profit declined as the company absorbed a financial hit from acquiring Nokia's money-losing cellphone business.

Sealed Air Moving to North Carolina

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Sealed Air Corp. plans to relocate its headquarters to Charlotte, N.C., where it will consolidate about 1,300 jobs.

Clippers Will Suffer If Sterling Stays, Interim CEO Says

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The interim chief executive of the L.A. Clippers said that embattled owner Donald Sterling's reputation has become so unfavorable that the team could lose its head coach, season ticket holders and corporate sponsors.

Delta Air Lines Profit Rises 17%

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Delta Air Lines Inc. said its second-quarter earnings jumped 17%, driven by higher passenger and operating revenue as traffic increased.

General Dynamics Profit Slips

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General Dynamics's second-quarter earnings slipped as the defense contractor recorded sales declines in three of its four business units, including its Gulfstream business-jet unit.

Dow Chemical's Sales Better-Than-Seen

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Dow Chemical said its second-quarter sales rose a better-than-expected 2% as the company reported growth in all its operating segments.

Northrop Profit Boosted by Lower Costs

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Northrop Grumman Corp. on Wednesday reported a 4.7% increase in second-quarter profit as the defense contractor cut costs, masking a decrease in sales.

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