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SoftBank to Drop Effort to Merge Sprint, T-Mobile

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SoftBank, concerned about giving up control of Sprint, is abandoning its efforts to merge the U.S. wireless carrier with T-Mobile US, according to people familiar with the matter.

Alphabet's Google Responds to EU Antitrust Fine

Alphabet Inc.'s Google lashed out against the European Union over its recent record EUR2.42 billion antitrust fine against the company, saying the regulator misstated facts and didn't show sufficient proof that the search giant's conduct hurt rivals, according to a summary of the court appeal the company lodged against the EU.

Mondelez Reports Sales Increase

Mondelez International Inc. reported a rise in quarterly sales for the first time since June 2012 as demand increased for the company's staple brands in the U.S and Europe.

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Russian-Backed Facebook Accounts Staged Events Around Divisive Issues

In one city, a pro-police rally. In another, a demonstration against the police. The accounts publicized and funded real-life events in 2016 that often pushed competing agendas.

Morgan Stanley to Exit Accord on Broker Recruiting

Morgan Stanley said it would abandon a set of recruiting rules that brokerage firms agreed to more than a decade ago, the latest sign of change as Wall Street firms pull back on expensive hiring practices.

LyondellBasell Makes Takeover Approach to Braskem

LyondellBasell Industries has made a takeover approach to Braskem, eyeing a deal that could value the Brazilian petrochemical company at well over $10 billion.

GE's Numbers Game: Pick From Four Earnings Figures

GE's heavy use of customized earnings metrics-it has four different measures of earnings per share in its third-quarter report-has sparked investor concerns.

Lennar, CalAtlantic Strike Deal to Create Largest U.S. Home Builder

Lennar will buy CalAtlantic Group in a $5.7 billion deal that will create the country's largest home builder by revenue, the companies said.

HSBC Swings to Profit as Pivot to Asia Pays Off

HSBC swung to a third-quarter net profit, as revenue in Asia rose from increased customer borrowing and a growing deposit base.

Novartis to Pay $3.9 Billion for Radio-Pharmaceuticals Firm

Novartis said it has agreed to acquire Advanced Accelerator Applications for $3.9 billion, a deal that would boost its oncology portfolio as generic competition eats into sales of blockbuster blood-cancer drug Gleevec.

(END) Dow Jones Newswires

October 30, 2017 17:15 ET (21:15 GMT)