BET ON FAILED BANK INDYMAC CREATES WINDFALL -- UPDATE 

An investment group backed by John Paulson, George Soros, Michael Dell and Christopher Flowers stands to gain more than $3 billion from a bet made on a failed lender during the depths of the financial crisis. (published 0057 GMT)

 
 
APPLE REPORTS STRONG IPHONE SALES -- 4TH UPDATE 

Ahead of a refresh of the iPhone, Apple Inc. reported 12% profit growth and strong sales of its current handset, especially in markets far afield from its traditional customer base in the U.S. (published 2355 GMT Tuesday)

 
 
FOX MINDFUL OF DEBT AS IT EYES TIME WARNER 

Ever since his News Corp survived a bruising liquidity crisis in the early 1990s, Rupert Murdoch has been careful to avoid getting overextended financially. But his pursuit of Time Warner Inc. could test that philosophy. (published 2341 GMT Tuesday)

 
 
J.P. MORGAN NEARS DEAL FOR BUYOUT ARM--UPDATE 1 

J.P. Morgan Chase & Co. is nearing a deal to sell half its stake in the portfolio of its buyout arm, One Equity Partners, according to people familiar with the matter, as the bank pares down to focus on core businesses. (published 2234 GMT Tuesday)

 
 
MICROSOFT'S PROFIT TAKES HIT ON NOKIA -- UPDATE 

An initial report card came in for Microsoft Corp.'s purchase of Nokia Corp.'s mobile phone business. As feared, the marks were poor. (published 2309 GMT Tuesday)

 
 
LINKEDIN TO BUY BIZO FOR ABOUT $175 MILLION -- UPDATE 

LinkedIn Corp. has agreed to buy business audience marketing provider Bizo for about $175 million, a deal the social networking company said will enhance its ability to offer a comprehensive business-to-business marketing platform for brands. (published 2105 GMT Tuesday)

 
 
HERBALIFE RALLIES AS ACKMAN HITS AWAY 

William Ackman had promised a "death blow" against Herbalife Ltd. Wall Street instead gave new life to the nutritional-supplement company's stock. (published 2337 GMT Tuesday)

 
 
VMWARE'S PROFIT DOWN ON AIRWATCH ACQUISITION COSTS -- UPDATE 

Software company VMware Inc.'s second-quarter earnings fell 32% largely resulting from costs tied to its acquisition of mobile device management company AirWatch. (published 2318 GMT Tuesday)

 
 
BHP OUTPUT TRUMPS FORECASTS FOR FISCAL YEAR 

BHP Billiton Ltd. exported more iron ore than expected from mines in Australia's northwest last fiscal year even after lifting guidance twice, as the world's largest mining company aimed to squeeze more from its operations. (published 2313 GMT Tuesday)

 
 
JUNIPER NETWORKS POSTS SOLID GAINS -- UPDATE 

Juniper Networks Inc.'s second-quarter profit more than doubled as the networking-equipment company posted solid gains in product and services revenue. (published 2249 GMT Tuesday)

 
 
UNITED TECHNOLOGIES SHARES SLIDE -- 3RD UPDATE 

Shares of United Technologies Corp. slid Tuesday in response to weak order growth, disappointing margins and some one-time hits even as the company raised its outlook for the year. (published 2126 GMT Tuesday)

 
 
BROADCOM SAYS IT WILL CUT 2,500 JOBS -- UPDATE 

Broadcom Corp. said about 2,500 employees will lose their jobs as it moves to wind down rather than sell an operation that had been making baseband chips for mobile devices. (published 0052 GMT)