AP - Swatch Group AG, the world%27s largest watchmaker, reported a 54 percent rise in half-year net profit Wednesday as sales recovered from a slump during the global economic downturn.

AP - PROFIT BOOM: HSBC Holdings PLC, Europe%27s largest bank in terms of deposits, says its net income more than doubled in the first half to $6.76 billion as it set aside sharply less money to cover bad debt.

Reuters - China may need to replace more than half of its housing stock in the next 20 years, a researcher at the housing ministry said in remarks published on Friday.