Hollis Newhouse

Brazilian credit-card networking services provider Redecard SA (RDCD3.BR) said second-quarter net profit rose 20% year-on-year as a sluggish local economy failed to undercut credit-card use in Latin America's largest economy.

Brazil's telecommunications regulator Anatel has suspended sales by three mobile-phone companies in some states because of the volume of customer complaints.

American Express Co.'s (AXP) second-quarter profit was essentially flat as the pace of customer card-spending slowed, though it continued to benefit from historically low loan losses.

Venezuelan state oil monopoly Petroleos de Venezuela, or PdVSA, said Wednesday it has finalized a term sheet for a $2 billion credit line it will receive from U.S. oil major Chevron Corp. (CVX) which will go towards the companies' Petroboscan joint venture in the South American country.

Capital One Financial Corp.'s (COF) second-quarter earnings plunged 90% from a year earlier as the company booked a slew of charges related to its acquisition of HSBC Holdings PLC's (HBC, 0005.HK, HSBA.LN) U.S. credit-card portfolio and a settlement with U.S. regulators.

U.S. regulators named eight payment and clearing firms as systemically important, a designation that says their failure could jolt the U.S. economy and thus subjects them to enhanced government oversight.

International Business Machines Corp. (IBM) boosted its guidance for full-year earnings, alleviating some worries about tech spending, even as its revenue fell short of expectations for the fourth-straight quarter amid "pretty significant" currency headwinds.

Special to Dow Jones Newswires JAKARTA--Indonesia's Supreme Court said Wednesday it has rejected an appeal filed by the country's antitrust agency on a case against Pfizer Inc. (PFE), its affiliates and an Indonesian company, affirming an earlier ruling by a district court.

Stryker Corp.'s (SYK) second-quarter earnings rose 4.8% as the company absorbed some charges, while sales growth was hampered by unfavorable foreign-currency rates and softness in international orthopedic markets.

Yum! Brands Inc. (YUM), which owns the Pizza Hut, KFC and Taco Bell fast-food chains, saw its profit rise 4.8% in the latest quarter, as improvements at Taco Bell boosted its U.S. business, which is becoming more important given the pullback in China's economic growth.