Henry W Hecox

Dutch electronics major Royal Philips Electronics (PHIA.AE) said Monday it swung to a second quarter profit as sales picked up at all its units, especially in the U.S. and emerging markets, offsetting weak European markets and as cost-cutting plans launched last year started to take effect.

Norwegian oil and natural gas major Statoil ASA (STO) said Monday it has awarded CHC Helikopter Service AS three new helicopter contracts worth a total of NOK5 billion to provide offshore flights from Kristiansund and Bronnoysund, as well as the search and rescue helicopter stationed on the Heidrun

Italy's Intesa Sanpaolo SpA (ISP.MI) and Russia's Gazprombank (GZPR.RS) said Monday they have signed a joint venture for private equity investments in companies from the two nations.

South Africa's tepid growth in recent years has been propelled by the financial sector and consumer spending, the central bank said Monday, as the traditionally strong mining and manufacturing sectors have slumped.

Freeport McMoran Copper & Gold Inc. (FCX) has agreed to the Indonesian government's request that it sell a stake in its Indonesian unit via an initial public offering on the local stock market, a senior Indonesian economic minister said Monday.

Singapore beverage company Fraser & Neave Ltd. (F99.SG) has appointed Goldman Sachs Group Inc. to advise it on Heineken NV's (HEIA.AE) 5.1 billion Singapore dollar (US$4.06 billion) offer to buy Fraser & Neave's stake in Asia Pacific Breweries Ltd. (A46.SG), a person familiar with the situation

Trading in Italian bank shares were suspended Monday morning after sharp drops in share prices following new concerns about the euro-zone debt crisis.

Nokia Corp. (NOK) is considering ripping up its traditional mass marketing strategy when it unveils its new Windows 8 smartphone in the autumn, in an attempt to recreate the excitement around Apple Inc.'s (AAPL) exclusive launch of the original iPhone in 2007, the Financial Times reports Monday.

Fears that Spain will require a full-fledged sovereign bailout helped push Spanish government bond yields to another round of euro-era record highs Monday.

Russian oil giant OAO Rosneft (ROSN.RS) said Monday it had signed an agreement with Italy's Eni SpA (E) to finance exploration at three offshore fields, advancing a cooperation deal signed in April.