Earnings roundup: NY Times, GlaxoSmithKline

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NEW YORK (AP)--New York Times Co.'s second-quarter earnings fell 82 percent from a year ago, when it saw a one-time gain from the sale of a unit, but print advertising continued to shrink and pulled down operating income, the publisher said Wednesday.

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LONDON (AP)--GlaxoSmithKline PLC, the world's second-largest drug maker, posted a 3 percent drop in second-quarter profit on Wednesday, after strong competition from generic drugs outweighed asset sales and the cost-saving effects of job cuts.

GRAND RAPIDS, Mich. (AP)--Household appliance maker Whirlpool Corp. said Wednesday its profit fell 27 percent in the second quarter because of higher material and oil-related costs, and lower U.S. demand.

PHILADELPHIA (AP)--Regional bank Sovereign Bancorp Inc. said Wednesday its second-quarter profit fell 14 percent as provisions for credit losses more than doubled.

SAINT PAUL, Minn. (AP)--Property casualty insurer The Travelers Cos. says its second-quarter profit declined as it wrote fewer premiums, took higher catastrophe losses and recorded fewer investment gains.