Credit Suisse reported a small rise in second-quarter net profit, as one-off gains offset a slide in investment-banking income sparked by this spring's volatile markets and sovereign-debt fears.

Irish drug maker Elan reported a wider net loss, after the company set aside $206.3 million to settle a U.S. government investigation into Elan's marketing of the epilepsy drug Zonegran.

As the EU prepares to prove to the world how solid its banks are, new data from around the euro area show that its weaker members' dependence on the European Central Bank has never been higher.

U.K. retail sales rose more than expected in June, boosted by promotions and the soccer World Cup.

U.K. publisher Pearson said it bought SEB's learning-systems business for $494.5 million as part of a strategic partnership to develop educational products and services for the fast-growing Brazilian education market.

The euro zone's private sector expanded at a faster pace, boosted by an unexpected pickup in both the manufacturing and the services sectors.

EU Trade Commissioner Karel De Gucht said China needs to improve its inward investment opportunities for foreign companies.

Despite spending $1.2 billion to buy Motorola's telecom-equipment unit, both Nokia and Siemens remain wary partners in their long-suffering joint venture.

German Chancellor Angela Merkel defended her government's austerity measures, saying they are good for economic growth despite their unpopularity with German voters and foreign governments.

Computer hackers have designed a virus that targets industrial control systems built by German engineering giant Siemens.

Swedish truck maker Volvo reported its second consecutive quarterly net profit as its order intake rose, but stuck to its forecast for 20% to 30% growth in North America over the year.

ABB reported an 8% drop in net profit on continued price pressure and restructuring costs, but said it saw the first signs of a broader market recovery amid a pickup in demand.

Use of the ECB's 0.25% deposit facility fell to its lowest level since March, as the recent rise in short-term rates continued to tease the excess reserves back into circulation.

The euro's recent rally may be little more than a summer fling. While the currency has benefited from improved sentiment toward Europe, many say the rally really reflects of concerns about the U.S. economy.

Swedbank swung to a net profit on lower loan-loss provisions and said it sees macroeconomic strength in home markets.

Roche Holding reported a sharp rise in first-half net profit due to accelerated drug sales and the absence of charges linked to the takeover of Genentech and said it expects to reach its 2010 goals.

U.K. consumer-goods firm Reckitt Benckiser, which owns Clearsil and Mucinex, agreed to acquire SSL, maker of Durex condoms, in a deal valued at $3.88 billion.

Euro-area growth is expected to slog along at less than a 2% pace through 2012, the IMF forecast, as many of the region's countries focus on getting their debt problems under control.

Turkey was forced to shut down a natural-gas pipeline from Iran after an explosion that came in the midst of an upsurge of attacks by Kurdish militants.

The French government authorized police to question Eric Woerth as prosecutors continue to look into allegations of illicit campaign financing and conflict of interest that have pressured President Sarkozy.