Bloomberg Banca Monte deiPaschi di Siena SpA had another tough quarter for earnings, showing how far the state-rescued Italian lender has to go before it can re-emerge as a private company. Second-quarter net income fell 35 percent to 65.3 million euros ($72 million) from a year earlier hurt by lower income from lending and fees, the Siena-based bank said. Monte …

Bloomberg The building blocks for a sustained rally in emerging-market bonds are in place as their central banks embark on a rate-cutting cycle, according to Goldman Sachs Asset Management. Last month’s easing by South Korea, Indonesia and South Africa is a foretaste of things to come as policy makers step up efforts to bolster growth, said Angus Bell, a senior …

Bloomberg Credit Agricole SA followed competitor SocieteGenerale SA in strengthening its capital buffers, even though slower investment banking activity weighed on second-quarter earnings. Profit at the large clients business that houses the securities unit fell 20 percent after the bank saw a continued drop in margins in a sluggish market. A decline in overall net income was in line with …

Bloomberg Apple Inc generated less than half of its total quarterly revenue from sales of the iPhone for the first time since 2012 — a sign the company is entering life beyond its flagship product. While Apple reported a record $11.5 billion in sales of services in the fiscal third quarter, and demonstrated strong performances from wearables such as the …

Bloomberg A voice software tech developer is suing Amazon.com, saying the e-commerce giant infringed on patents when developing software for the Alexa digital assistant. VB Assets LLC, which owns the rights to some of the technology developed by voice software pioneer VoiceBox Technologies, said in a lawsuit filed in Delaware federal court that Amazon infringed on six of its patents …

Bloomberg BMW AG’s profit fell 20 percent in the second quarter as the company accelerates a rollout of electric vehicles. In Chief Executive Officer Harald Krueger’s final quarter, earnings before interest and taxes declined to 2.2 billion euros ($2.4 billion) from 2.74 billion euros a year earlier. Analysts had expected 2.19 billion euros. After a loss in the first quarter, …

Bloomberg As Ford Motor Co bears down on a self-imposed deadline to field robotaxis and driverless delivery vehicles in two years, the automaker has acquired a small defense contractor whose experience could help get auto-piloted cars on the road. Ford paid an undisclosed sum to acquire Quantum Signal AI, a 40-member team of roboticists operating out of a decommissioned 1930s-era …

Bloomberg British Airways (BA) will continue talks with pilot representatives next week in a bid to defuse a pay dispute and avoid a walkout by its most crucial employees at the height of the summer travel season. The British Airlines Pilots Association (Balpa) agreed to extend negotiations with former the former UK flag carrier, now a unit of IAG SA, …

Bloomberg Boeing Co is redesigning the flight-control system of the grounded 737 Max to rely on data from both of the jetliner’s flight-control computers instead of just one, said a person familiar with the plans. The US planemaker is still aiming to present a final software package to regulators by September, though the timeline could slip, said the person, who …

Bloomberg Yum! Brands Inc’s latest quarterly sales climbed more than expected, propelled by strength at Taco Bell and KFC, its strongest divisions. Even laggard Pizza Hut showed some new signs of life. Comparable sales at Yum rose 5 percent last quarter, up from 1 percent in the year-ago period. That topped the 3.1 percent average estimate from Consensus Metrix. Taco …