Bloomberg VTB Group, Russia’s second-biggest bank, boosted profit more than sixfold in the second quarter as the financial industry began to recover from a crisis. Net income increased to 16 billion rubles ($250 million) from 2.5 billion rubles a year earlier, the lender said in a statement on its website on Tuesday.Banking industry profits in Russia are heading back …

  AP A blimp-shaped, helium-filled airship considered the world’s largest aircraft flew for the first time with a short but historic jaunt over an airfield in central England. Engines roaring, the 302-foot (92-meter) Airlander 10 rose slowly into the air from Cardington airfield, 45 miles (73 kilometers) north of London. A hybrid of blimp, helicopter and airplane, it can stay …

  Bloomberg Nestle, the world’s largest food company, on Thursday reported a 9.1 percent fall in profits through the first six months of 2016, but said its sluggish performance should be reversed in a strong second half. The firm posted 4.1 billion Swiss francs ($4.3 billion, 3.9 billion euros) in profits through the first half of the year, a step …

Bloomberg Wal-Mart Stores Inc. increased its annual earnings forecast after second-quarter results topped analysts’ estimates, a sign the world’s largest retailer is pulling business away from rivals such as Target Corp. Sales at U.S. Wal-Mart stores open more than 12 months rose 1.6 percent last quarter, which ended July 31, the Bentonville, Arkansas-based company said in a statement Thursday. The …

AFP Singapore Telecom said on Thursday it will spend $1.8 billion to take a stake in Thailand’s Intouch and raise its share of India’s Bharti, boosting its access to fast-growing Asian and African mobile markets. SingTel, Southeast Asia’s biggest telecom group by revenue, will acquire 21 percent of Intouch and an additional 7.39 percent in Bharti Telecom from state-linked investment …

  Bloomberg Chinese home prices gained in fewer cities as local governments joined some of the nation’s largest hubs in imposing residential property curbs to quell soaring real estate values. New-home prices excluding government-subsidized housing gained in 51 cities last month, from 55 in June, among the 70 the government tracks, the National Bureau of Statistics said on Thursday. Prices …

Bloomberg Blackstone Group LP is close to an agreement to buy an eight-building apartment complex on Manhattan’s east side, for $620 million, cementing its position as one of New York’s largest residential landlords, according to a person with knowledge of the talks. The New York-based firm, the world’s largest manager of alternative assets, is planning to buy Kips Bay Court …

  Bloomberg A newly built apartment tower in the Long Island City neighborhood of Queens hasn’t yet opened to the public nor found a single tenant, but the building is for sale. The developer, Property Markets Group, has put the 45-story tower at 23-01 42nd Road on the market to take advantage of investor demand to own apartments in the …

  Bloomberg Tencent Holdings Ltd.’s shopping spree on premium content from Game of Thrones to NBA broadcasts has again helped defy investors’ expectations and a slowing Chinese economy. Second-quarter sales and profit beat analysts’ estimates as the operator of the WeChat and QQ social network services splashed out on mobile games and content — including anything from anime and comics …

  Bloomberg Cisco Systems Inc., the biggest maker of equipment that runs the internet, plans to cut about 7 percent of its workforce, trying to recast itself as a provider of software-based systems and services. The company will eliminate 5,500 positions from its workforce of more than 73,700, Cisco said Wednesday in a statement. Savings from the job reductions will …