AP - Norwegian papermaker Norske Skog said its second-quarter net loss widened 62 percent to 874 million kroner ($146 million) from 538 million kroner in 2009, due to lower paper prices, higher costs and changes in currency values.

AFP - European stock markets surged in early trading on Monday, lifted by banking shares after British banking titan HSBC announced soaring half-year profits.

AP - IN THE BLACK: Ally Financial Inc., the consumer lender 56 percent owned by the federal government, posted net income of $565 million in the second quarter, thanks to improvements in its home mortgage business and demand for auto loans.

AP - Ally Financial Inc. on Tuesday said it expects to hold an initial public offering next year after posting a second-quarter profit of $565 million, driven by improvements in its home mortgage business and more demand for auto loans.

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.