David G Locicero

Brazil's Deposit Guarantee Agency, known as FGC, said Tuesday that it will buy back at a discount debt sold by troubled Banco Cruzeiro do Sul SA (CZRS4.BR) before seeking buyers for the bank.

SAN JOSE, Calif.--Samsung Electronics Co. (SSNHY, 005930.SE) defended against Apple Inc.'s (AAPL) arguments that it had copied the iPhone, while accusing Apple of violating three Samsung patents as the high-stakes patent trial between the companies continues its second phase.

Westfield Group (WDC.AU) said Wednesday its first-half net profit rose by almost a third as it benefited from positive property valuations, asset sales and increased shopper activity in its malls.

Commonwealth Bank of Australia (CBA.AU) on Wednesday reported net profit for fiscal 2012 of 7.09 billion Australian dollars (US$7.4 billion), up 11% on year, but said revenue growth was subdued as customers remained cautious about the global environment.

Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) partially liquidated massive holdings in Kraft Foods Inc. (KFT) and Procter & Gamble Co. (PG) in the second quarter, decisions that may indicate the transfer of more investment duties to the next generation of Berkshire stock pickers.

Hedge fund managers reported significantly reduced--and in some instances eliminated--stakes in big banks, including J.P.

Billionaire investor George Soros's Soros Fund Management LLC reported new stakes in retail heavyweight Wal-Mart Stores Inc. (WMT) and Facebook Inc. (FB), while eliminating positions in big banks J.P.

BATS Global Markets Inc. said Tuesday it aims to offer a new trading program designed to improve the prices individual investors pay on their stock orders.

Strategic Hotels & Resorts has reportedly agreed to buy the 509-room hotel at Central Park for about $375 million.