Phillips 66 Profit Falls

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Phillips 66said its second-quarter earnings fell 9.9% amid weaker refining earnings, partly offset by growth in its chemicals segment.

Peugeot Car Unit Returns to Profit

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Stiff cost cuts helped French car maker Peugeot Citroën's automobile unit to nose back into the black in the first half for the first time in three years, paring the overall company's losses amid rising sales in Europe and China.

Pfizer To Buy Baxter's Vaccines

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Pfizer said it has agreed to acquire Baxter's portfolio of marketed vaccines for $635 million.

IRS Blesses Telecom's REIT Turn

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Windstream's plan to spin off some of its telecommunications assets into a real estate investment trust comes as more U.S. companies seek to lower their taxes.

PSEG Profit Declines 36%

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Public Service Enterprise Group Inc. said Wednesday its second-quarter earnings fell 36% as the power company's operating revenue declined.

ITV Ignores Takeover Talk, Posts Profit Jump

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ITV, the U.K.'s No. 1 over-the-air commercial broadcaster, said it is ignoring talk that it is a takeover candidate as it posted a 46% jump in profit on higher revenue.

EU May Lower Minimum Import Price for Chinese Solar Panels

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European solar-panel producers say the move is unjustified and will "further decimate" manufacturers in the region still reeling from competition from low-cost Chinese equipment.

In Prepaid Cards, Fortune Eludes the Famous

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Suze Orman, Magic Johnson and Lil Wayne are among the celebrities who have shuttered or scaled back prepaid-card ventures, as they struggle to compete with plain-vanilla cards issued by big banks.

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