COMPANIES

Beijing has found a new culprit to blame for China's asset bubbles -- foreign hot money. China's official reserves are rising again, breaking the $2 trillion mark in April, and unexplained inflows are once again coming under the critical microscope.

U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.

The Obama administration is looking at ways for homeowners who have defaulted on their mortgages to remain in their homes as renters, senior administration officials said on Thursday.

General Motors GMGMQ.PK will have a hard time overcoming Germany's resistance to a financial investor if it wants to sell Opel to RHJ (RHJI.BR) in the hope that it could later buy its European carmaker back.

Toyota Motor Corp and Mazda Motor Corp are in talks over the possibility of Toyota supplying core components for hybrid vehicles to its smaller rival, two sources familiar with the matter said on Thursday.

Tata Motors Ltd (TAMO.BO), India's largest vehicles maker, said on Thursday it would deliver the Nano, the world's cheapest car, to its first customer on Friday.

Auto parts maker Delphi Corp (DPHIQ.PK) has reached an agreement with its bankruptcy financing lenders and former parent General Motors for a plan to emerge from court protection, The New York Times reported on Thursday.

U.S. motorcycle maker Harley-Davidson Inc reported a lower-than-expected profit on Thursday as the ugly economic environment soured consumer spending and sent bike sales sliding.

Baxter beats, Harley misses for 4th time, Biogen tops views

McGraw-Hill Cos., which is currently trying to sell off its non-profitable BusinessWeek, said Thursday it has cut 550 jobs, or 2.5 percent of its workforce.

Agents for Greek betting firm OPAP, Europe's biggest, went on strike on Thursday over a tax on winnings and said a new smoking ban in public places in Greece had added to a fall in sales.

Porsche SE on Thursday refused to cede victory to Volkswagen in a test of wills over who will control the automotive juggernaut the German carmakers aim to forge.

Shares in underground mall developer Renhe Commercial Holdings tumbled more than 9 percent after resuming trade on Thursday afternoon following the company's announcement of a share placement.

Indonesia's government and PT Newmont Nusa Tenggara (NNT), a local unit of Newmont Mining Corp, have agreed to value NNT's assets at $3.52 billion, the country's energy minister said on Thursday.

Las Vegas Sands Corp is seeking to amend its Macau bank loans of about $3.4 billion, a spokesman for the casino operator said on Wednesday.

Apollo Commercial Real Estate Inc has filed an application to raise up to $600 million in an initial public offering and plans to invest in commercial mortgage-backed securities with part of the proceeds, according to a regulatory filing.

Independent oil and gas company Range Resources Corp said its second-quarter production rose to 434 million cubic feet equivalent per day (mmcfe/d), outpacing its earlier forecast of 420-425 mmcfe/d.

Insteel Industries Inc swung to a third-quarter loss, hurt by an inventory write-down and a drop in shipments and average selling prices, but said it expects wire rod prices to rebound going ahead.

Brazil's state development bank BNDES has become a major player in government efforts to pull Latin America's largest economy out of recession.

Distributor of automotive replacement equipment Uni-Select Inc said it would sell assets of its heavy duty group, generating about C$22 million ($19.66 million) in cash.

Two plans are on the table to relieve Porsche SE's 10 billion euro ($14.09 billion) net debt burden and perhaps foster a tie-up with Volkswagen to create an automotive powerhouse.

The families that own Porsche SE have not yet agreed on a strategy to cut the automotive group's debt and join forces with Volkswagen, Porsche's deputy chairman said on Thursday.

Procter & Gamble Co could look to exit businesses such as Duracell batteries, Pringles snacks, pet food and pharmaceuticals, a prominent analyst said on Thursday.

Chinese carmaker Beijing Automotive (BAIC) has lost more ground to rivals Magna and RHJ in the race to acquire control of Opel, several sources familiar with the situation said on Thursday.

Investment banking revenues may be driven in coming quarters by mergers and acquisitions (M&A) and equities, as the high-grade fixed income boom draws to a close, Credit Suisse analysts said on Thursday.

Baxter International Inc, which makes blood therapy and kidney dialysis products, reported higher-than-expected quarterly net earnings on Thursday, as improved margins helped outweigh the negative impact of foreign exchange rates.

U.S. motorcycle maker Harley-Davidson Inc's quarterly profit fell sharply, as bikers put off new purchases. It also slashed its 2009 shipment forecast and said it would cut another 1,000 jobs.

Hotelier Marriott International Inc reported a sharply lower second-quarter profit on Thursday but beat estimates, as cost-cutting measures offset a drop in room rates and occupancy.

U.S. motorcycle maker Harley-Davidson Inc said on Thursday that its profit fell sharply in most recent quarter as the ugly economic environment soured consumer spending and sent bike sales sliding.