Shell Profit Falls But Beats Forecasts 

Royal Dutch Shell unveiled its first set of earnings since its roughly $50 billion acquisition of BG Group earlier this year, reporting a sharp drop in first-quarter profit compared with a year earlier.

 
Credit Suisse to Sell Distressed-Debt Portfolio for $1.27 Billion 

Credit Suisse agreed to sell a big chunk of its distressed-debt assets to an affiliate of TPG, helping to speed the Swiss bank's retreat from risky trading businesses.

 
Siemens Posts Solid Profit Growth 

German engineering giant Siemens recorded a strong rise in second-quarter profit, boosted by earnings growth at its power and gas and energy-management divisions.

 
Most Asian Stock Markets Fall Amid Renewed Weakness in Oil 

Most shares in Asia were back in the red Wednesday with Australia slipping below breaking even for the year amid a renewed fall in oil prices and a nearly 10% plunge in shares of Anglo-Australian BHP Billiton Ltd.

 
BHP, Vale Face $44 Billion Lawsuit Over Brazil Dam Disaster 

Brazilian federal prosecutors filed a civil lawsuit demanding that mining companies responsible for a catastrophic dam failure shell out up to $43.55 billion for cleanup and remediation, far more than the government initially estimated.

 
Société Générale's Retail Bank Offsets Choppy Markets 

French bank Société Générale reported higher first-quarter net profit, as a debt valuation adjustment and a strong retail banking performance helped offset lower trading revenue from volatile markets.

 
BAE Systems Says 2016 Off to a Good Start 

BAE Systems PLC Wednesday said business in 2016 has started well, allowing Europe's largest arms maker to confirm its full-year earnings targets.

 
Adidas To Sell Parts of its Golf Business 

German sportswear maker Adidas said it is actively seeking a buyer for parts of its golf unit, after years of slumping sales.

 
Imperial Brands Net Profit Falls 

Imperial Brands reported a 66% fall in first-half profit as the cigarette maker was weighed down by restructuring and others costs though revenue climbed higher.

 
AB InBev Profit Dips on Currency Factors 

Belgian brewer Anheuser-Busch InBev said unfavorable currency effects damaged net profit in the first quarter of the year.

 
Air France-KLM Loss Narrows 

Franco-Dutch airline Air France-KLM said lower fuel costs lifted profitability in the first quarter but it remained in the red.

 
Air France Enforces 2012 Cost-Cutting Plan for Pilots 

Air France has decided to enforce a cost-cutting plan for its pilots that was originally announced in 2012 but delayed by opposition from unions. The measures will result in lower pay per hour spent flying.

 
Private-Equity Firm Near Deal to Buy MultiPlan 

Private-equity firm Hellman & Friedman LLC is nearing a deal to buy health-care services provider MultiPlan Inc. for about $7.5 billion including debt in what would be one of the largest recent leveraged buyouts.

 
Carlyle Hires Bank to Explore Sale of Groupe Marle Stake 

Carlyle Group has hired investment bank Natixis to explore a sale of its stake in French medical equipment company Group Marle, according to people familiar with the process.

 
Comerica CFO Stepping Down 

Comerica Inc., hard hit by souring energy loans, on Tuesday said its chief financial officer, Karen Parkhill, has resigned.

 
Medtronic Hires New Finance Chief 

Medtronic has hired Karen L. Parkhill as its new chief financial officer, recruiting her from the same role at Comerica.

 
Petrobras Sells Stakes in Argentine and Chilean Units 

Petroleo Brasileiro sold stakes in its Argentina and Chile subsidiaries, some of the first positive signs that the company's aggressive effort to shed assets is gaining traction.

 
Pemex on Track to Meet Spending-Cut Goals, CEO Says 

Pemex CEO José Antonio González Anaya said Mexico's state oil company was on track to meet its goal to cut $5.8 billion in spending this year.

(END) Dow Jones Newswires

May 04, 2016 03:01 ET (07:01 GMT)