The Obama administration will speed up awards under a $7.2 billion broadband stimulus program in response to complaints the process is overly complex.

China Strategic, which led a consortium to buy AIG's Taiwan unit, plans to sell convertible bonds and new shares, and use borrowings from banks.

Clear Channel Communications' parent CC Media posted a loss on a 17% drop in revenue.

A provision allowing the SEC to fund itself based on the fees it collects will be part of a broad financial-regulatory-overhaul bill to be unveiled this week.

Russia's natural gas monopoly Gazprom said its second-quarter net profit tumbled 36% due to reduced demand for gas in Europe and lower prices.