Petroleo Brasileiro (PBR, PETR4.BR), Brazil's state-controlled oil company, said Wednesday that July crude oil and natural gas output slipped 1.12% from the previous month due in part to planned stoppages for maintenance.

Italian insurer Unipol Gruppo Finanziario SpA (UNI.MI) said Wednesday it is interested in buying the share rights that weren't subscribed during the EUR1.1 billion capital increase of its peer Fondiaria-SAI SpA (FSA.MI), for up to 4.9% of FonSAI's capital.

The deepwater Louisiana Offshore Oil Port said Wednesday the backup generator at its facilities is sufficient for the oil transporter to operate until Entergy Corp. (ETR) restores power to the area.

Bank of Nova Scotia (BNS) agreed to buy ING Bank of Canada from its Dutch parent ING Groep NV (ING) for 3.126 billion Canadian dollars (US$3.159 billion) in cash, the latest in a string of big purchases by the Canadian bank and its biggest-ever takeover.

Investors stayed on the sidelines in Argentina Wednesday and volume in the stock market totaled just ARS24 million ($5.18 million) while shares closed largely unchanged.

Sears Holdings Corp. will be booted from the S&P 500 Index at the close of trading Sept. 4 and replaced by chemical and polymer maker LyondellBasell Industries NV , Standard & Poor's said late Wednesday.

Health insurer WellPoint could have its pick of several industry executives to replace CEO Angela Braly who's exit from the company was announced late Tuesday night.

AMR Corp. (AAMRQ) is in talks with a group of hedge funds interested in providing equity financing that would help the American Airlines parent emerge from bankruptcy.

Standard & Poor's Ratings Services cut Illinois' credit rating from a A-plus to A on Wednesday, due to the state's budget imbalance and $83 billion in unfunded pension liability.