Australia's competition regulator is likely to approve News Corp.'s (NWS.AU) 1.97 billion Australian dollar (US$2.07 billion) bid for media investment company Consolidated Media Holdings Ltd. (CMJ.AU), The Australian Financial Review reported Wednesday, citing unnamed sources.

Edison International's (EIX) Edison Mission Energy unit could file for bankruptcy if bondholders don't agree on a plan to restructure $3.7 billion of debt, including $578 million due in 2013, company executives said Tuesday.

AirAsia Bhd. may need to buckle up for turbulent weather: The bid by Asia's largest budget airline to buy Indonesia's Batavia Air has caught the attention of politicians and bureaucrats, who want a closer look before allowing another high-profile buyout by a foreign firm. While analysts and

Chilean beverage company and Coca-Cola bottler Embotelladora Andina SA's (AKOA, AKOB, ANDINA-B.SN) second-quarter net profit fell 23% year-on-year to 11.36 billion Chilean pesos ($23.6 million) on higher sales costs, the company said late Tuesday.

Australia's Molopo Energy Ltd. (MPO.AU) said Wednesday it sold its coal-seam-gas assets in Queensland state to PetroChina Co. (PTR) for A$41 million.

LIMA, Peru--Peruvian mining company Compania de Minas Buenaventura SAA (BVN, BUENAVC1.VL) said Tuesday second-quarter net income totaled $152.6 million, or 60 cents a share, down from $197.6 million, or 90 cents a share, in the same quarter a year earlier.

Allstate Corp. (ALL), the largest publicly traded home-and-auto insurer in the U.S., swung to a second-quarter profit as the company raised rates and natural disasters proved far less costly.

Total SA (TOT) challenged the Iraqi authorities Tuesday as it announced the acquisition of a 35% interest in two oil-exploration blocks in Kurdistan, a semi-autonomous region in northern Iraq, just days after the central government in Baghdad blacklisted Chevron Corp. (CVX) from contracts in the

Shares of the social networking site slid 6.2% as investors continue to worry about decelerating user growth, lackluster earnings and its ability to sustain its rich valuation.

Chilean beverage company and Coca-Cola bottler Embotelladora Andina SA's (AKOB, ANDINA-B.SN) second-quarter net profit fell 23% year-on-year to 11.36 billion Chilean pesos ($23.6 million) on higher sales costs, the company said late Tuesday.