Asian shares fell to two-year lows on Wednesday as Chinese stocks slipped, weakening the yuan currency as well. This was despite news that China attracted 471 billion Chinese yuan ($73.62 billion) in foreign direct investment (FDI) in the first seven months of 2015, up 7.9% from a year earlier. The world's largest commodity trader Glencore (GLNCY) cut guidance for its trading arm and reported a 29% fall in half-year profits because of the slump in commodity prices. Danish brewer Carlsberg cut guidance for the year after disappointing sales in its main markets of Western and Eastern Europe. Overall, the brewer now expects its organic operating profit to decline slightly in 2015, having previously expected mid- to high-single-digit growth. Swedish carmaker Volvo, owned by China's Geely, expects a "substantial increase in profits" this year, the company's chief executive said, quoted by the Wall Street Journal. Volvo's operating profit jumped more than 70% to 1.7 billion Swedish kronor ($195 million) in the first half of the year from a year earlier, due to the stronger dollar, higher sales of more profitable models such as the XC60 and a slight increase in volumes. NBCUniversal, part of Comcast (CMCSA), said it would invest $200 million in BuzzFeed as part of the company's efforts to expand its presence in the digital space. A week ago, the company said it would invest the same amount in BuzzFeed competitor Vox Media.

Source