AMSTERDAM, July 31, 2008 (AFP) - Dutch publishing group Reed Elsevier reported on Thursday a 17-percent drop in first-half net profit to 384 million euros (642 million dollars) but operating profit rose 12 percent.

Revenue was also down four percent to 2.541 billion euros.

SOFIA, July 31, 2008 (AFP) - Sweden-based international broadcasting company Modern Times Group (MTG) has signed an agreement to acquire all of Bulgaria's second private TV channel Nova Television for 620 million euros (966 million dollars), Nova said on Thursday.

BERLIN, July 29, 2008 (AFP) - German engineering giant Siemens said Tuesday it would pursue former directors for damages in an unprecedented action based on a claim they ignored widespread corruption revealed nearly two years ago.

Among the 11 former executives targeted are former Siemens bosses Heinrich von Pierer and Klaus Kleinfeld, the company said in a statement.

WASHINGTON, July 29, 2008 (AFP) - US satellite radio giants Sirius and XM completed their merger Tuesday after winning a lengthy battle with regulators over concerns about market competition.

The new company formed by Sirius Satellite Radio's buyout of XM Satellite Radio, will be called Sirius XM Radio Inc.

BERLIN, July 29, 2008 (AFP) - German engineering giant Siemens said Tuesday it will pursue former directors for damages, in an unprecedented move linked to a corruption scandal which broke nearly two years ago.

Among the 11 former executives targeted are former Siemens bosses Heinrich von Pierer and Klaus Kleinfeld, the company said in a statement.

FRANKFURT, July 29, 2008 (AFP) - The German engineering group Siemens will sue 11 former directors for damages in connection with a corruption scandal which broke nearly two years ago, the company said on Tuesday.

HANOI, July 29, 2008 (AFP) - Vietnam received a record 45.3 billion dollars in foreign direct investment (FDI) pledges in the first seven months -- more than double the total of last year, the government said Tuesday.

LONDON, July 28, 2008 (AFP) - Pearson, publisher of the Financial Times and Penguin books, said Monday it had reduced net losses during the first six months of 2008 as sales increased.

MUNICH, July 28, 2008 (AFP) - A German court convicted former Siemens director Reinhard Siekaczek of corruption and gave him a two-year suspended sentence Monday in its first ruling involving an executive at the scandal-hit industrial giant.

Siekaczek, 57, was convicted on 49 counts of breach of trust and was ordered to pay 108,000 euros (170,000 dollars) in fines.

LONDON, July 28, 2008 (AFP) - Pearson, publisher of the Financial Times and Penguin books, said on Monday that it had reduced net losses during the first six months of 2008 as sales increased.