A Chinese consortium agreed to extend the window to buy a majority stake in International Lease Finance Corp., potentially freeing up AIG to sell the unit in a public offering.

Smithfield Foods said it will review a letter from major investor Starboard Value pressuring the pork producer to explore a breakup instead of following through with its planned takeover by Chinese meat producer Shuanghui, but said it continues to believe the proposed merger is in the best interests of the company and its shareholders.

Two independent studies—part of an experiment in lifting the veil on industry-sponsored trial data—found a Medtronic bone-growth product for spine surgeries was no better than a traditional operation.

The USDA hopes the move will help reduce a surplus that has driven prices lower and is threatening to spark a wave of defaults on government loans.

Huawei Technologies is turning on the glitz for the launch of its flagship smartphone, the Ascend P6, in London on Tuesday.

Private-equity firms Altor and Bain Capital offered $1.08 billion for the fish-feed unit of Norway's Cermaq, after it rejected advances from rival Marine Harvest.

Airbus is on track to more than double its profit margin by 2015 through greater efficiency and restructured management, said Chief Executive Fabrice Brégier.

Ulrich Spiesshofer will become ABB's chief executive effective Sept. 15, ABB said. He has been head of the discrete automation and motion division since 2009.

Companies controlled by Li Ka-shing bought a Dutch waste-management company, as the Hong Kong billionaire continued picking up infrastructure assets in developed markets.