• Siemens AG (SI) put aside nearly $1.3 billion to settle charges that it bribed government officials around the world to win contracts. The concessionary provision will affect earnings for the year ended Sept. 30, Bloomberg reported.

• Internet titan Google Inc. (GOOG) announced Wednesday (yesterday) that its wariness for antitrust-related legal battles ultimately killed discussions with Yahoo Inc. (YHOO) about forming an advertising partnership, the New York Times reported. The breakdown reopens the door for a possible Yahoo-Microsoft Corp. (MSFT) relationship, which also has its share of starts and stops.

• Enbridge Inc. (ENB) announced quarterly profits rose 88% and net income spiked $130.4 million, or 41 cents a share, for the third quarter, Bloomberg reported. Canada’s largest pipeline company said volume increased 33% on the Athabasca liquid pipeline system, a major artery into one of the world’s most oil rich fields.

• The FCC voted 5-0 in approval of Sprint Nextel Corp’s (S) June purchase of Clearwire Corp., MarketWatch reported. The merger is critical to the survival of both, as they claimed to be unable to build a mobile wireless Internet network that could compete with rival AT&T (T).

• GMAC Financial Services, a division of General Motors Corp. (GM) said yesterday (Wednesday) that its third-quarter loss widened to $2.52 billion. GMAC had a loss of $1.6 billion during the year-earlier period. Third-quarter revenue fell 24% to $1.72 billion from $2.25 billion. GM reports earnings tomorrow (Friday).

• Time Warner Inc. (TWX) reported net income of $1.07 billion, or 30 cents a share, for the three months ended Sept. 30. Revenue was at $11.71 billion, relatively unchanged from last year’s  $11.68 billion. The company reported 18% growth in profits from continuing operations.

• Molson Coors Brewing Co. (TAP) yesterday (Wednesday) announced a 28% increase in third-quarter profit. The company reported third quarter net income of $173.2 million, or 94 cents per share, up from $134.7 million, or 74 cents per share, a year ago.

• News Corp. (NWS) said yesterday (Wednesday) that first-quarter net income dropped 30% from a year ago. Net income fell to $515 million, or 20 cents per share, compared with $732 million, or 23 cents per share, in the year-earlier period. Revenue rose 6.3% to $7.5 billion.

Source:Global Investing Roundups Thursday, November 6th, 2008