COMPANIES

AT&T Inc., the largest U.S. telephone-service provider, released its second quarter earnings report for 2006 on Tuesday, highlighting stronger revenue growth due to increased contributions from Cingular wireless and its wire line operations.

AT&T Inc. on Tuesday posted higher quarterly profit, bolstered by strong growth in wireless and high-speed Internet services.

McDonald's Corp. on Tuesday said quarterly profit rose, helped by a popular Happy Meal promotion and strong European sales during the World Cup soccer tournament.

South Africa's MTN Group now owns 97.34 percent of MTN Uganda following a $55 million cash purchase on Monday.

Online mail-order DVD rental leader Netflix, announced it nearly tripled its profits for the second quarter. However investors were unconvinced, as the company's stock price spiked steeply lower in after hours trading.

American Express, the travel services and credit card company, reported second quarter earnings that surpassed Wall Street expectations citing strong credit card spending.

On Monday, the California power grid operator, Independent System Operator (ISO), declared a stage 1 emergency, urging all consumers to reduce their electricity usage voluntary, following a heatwave which has swept over the state over the past few days.

USG, a leading building products company, announced an increase in earnings for the second quarter due to record shipments of its wallboard.

Drug maker Schering-Ploughdrugs, announced on Monday that its 2006 second quarter earnings surpassed Wall Street expectations due to a surge in the sales of key drugs.

Drug maker Merck & Co., Inc. surpassed second quarter Wall Street earnings expectations on Monday on stronger worldwide sales, led by its cholesterol drug Zetia.

The nation's largest hospital operator HCA Inc., announced on Monday that a private equity group has bought the company for about $21 billion. The firm has been struggling due to an increase in competition and in addition to growing unfunded liabilities.

Airbus has just announced a new line of uncompromising A350 jets, but analysts say the Boeing 787 Dreamliner may have the right ticket.

Schering-Plough Corp. on Monday reported quarterly earnings far higher than Wall Street expected, fueled by growing demand for its drugs against cholesterol, arthritis, allergies and hepatitis C.

Merck & Co. on Monday said its second-quarter earnings more than doubled on growing demand for its drugs, blowing past Wall Street expectations, and raised its full-year profit forecast.

Pfizer, the world's largest drug maker, posted a 30 percent decrease in net income for the second quarter on Thursday as it faces strong challenges from generic competitors in the market after losing its patent rights over two of the most profitable drug for the firm.

Profits at large U.S. banks are up, but not as much as they could be. This week and next, banks are reporting their earnings as Wall Street investors cautiously note the factors that could mean lower earnings.

Merrill Lynch, the largest U.S. Brokerage firm, beat Wall Street expectations on Tuesday as it reported a better than expected net quarterly income attributed to high equity trading revenue growth.

South African mobile operator MTN has paid $3.6 billion in cash to the shareholders of Investcom in one of the biggest payments made by a South African company for foreign assets said the group on Monday.

General Motors Corp Chief Executive Rick Wagoner insisted on Tuesday he planned to keep his job even if the U.S. carmaker strikes a three-way alliance with rivals Renault SA and Nissan Motor Co.

Boeing Co. will step up pressure on archrival Airbus on Tuesday with a $2.8 billion deal for its biggest cargo plane expected from airline Emirates, which recently walked away from plans to buy the freighter version of the Airbus A380 superjumbo.

Shares of Citigroup, the world's biggest financial services company by market value, dropped on Monday amid disappointing second quarter earnings which fell slightly below analysts' expectations.

The first civil charges will be forthcoming very soon in the stock options timing scandal involving dozens of U.S. companies, the nation's top securities regulator said on Monday.

General Motors Corp., Renault SA and Nissan Motor Co. agreed on Friday to review the benefits of a potential alliance that could change the world auto industry.

Car rental company Hertz Global Holdings Inc. said on Friday it is planning an initial public offering of as much as $1 billion in common stock.

Three British former bankers extradited to the United States this week pleaded not guilty in federal court on Friday to fraud charges linked to a deal with defunct energy giant Enron Corp.

Pepsi Bottling Group Inc., the largest Pepsi bottler, announced Tuesday that profits were up in its second quarter, attributing the growth to strong sales of its non-carbonated drinks.

The head of Honda Motor Co. said on Thursday that sales in North America were stronger than anticipated as customers flocked to its fuel-efficient cars, while demand in the lackluster Japanese market was in line with expectations.

China's Nanjing Automobile Group, which took control of Britain's collapsed MG Rover last year, on Wednesday said it would build MG-brand cars in Oklahoma, making it the first Chinese automaker to assemble vehicles in the United States.

Sasol Ltd. will hold negotiations in July and August with interested parties to sell several of its foreign chemical units, the company said on Tuesday.