TOP STORIES 
 
TEVA TO BUY ALLERGAN GENERICS FOR $40.5 BILLION

Teva Pharmaceutical said it would buy Allergan's generics unit for $40.5 billion in cash and stock, in a deal that will vault the Israeli company into the top ranks of global drug makers.

CHINA MARKET DROP CALLS INTO QUESTION BEIJING'S ABILITY TO PROP UP SHARES

Chinese shares suffered their biggest one-day drop in over eight years, wiping out hundreds of billions of dollars of market value and calling into question the effectiveness of Beijing's recent efforts to prop up the market.

U.S. STOCKS FOLLOW GLOBAL MARKETS LOWER

A sharp slump in Chinese markets piled further pressure on stocks Monday, after patchy economic data and corporate earnings spurred declines last week.

IMF SEES TROUBLES FOR EUROZONE BEYOND GREEK CRISIS

The eurozone's economy will fall further behind that of the U.S. without a concerted effort to boost demand through increased government spending and lower taxes, make labor markets more flexible, and rid banks of bad loans, the IMF said.

MCGRAW HILL FINANCIAL TO BUY SNL FINANCIAL FOR $2.2 BILLION

McGraw Hill Financial reached a deal to buy SNL Financial for about $2.23 billion in cash, a move to expand its data services.

U.S. DURABLE ORDERS UP 3.4% IN JUNE

New orders for durable goods rose a seasonally adjusted 3.4% in June from a month earlier, the Commerce Department said.

DELTA AIR TO BUY 3.55% STAKE IN CHINA EASTERN

Delta Air Lines agreed to pay $450 million for a stake in China Eastern Airlines as part of an agreement that expands the two carriers' strategic partnership.

EUROZONE RECOVERY CONTINUES

Eurozone bank lending to households has picked up and German business sentiment has improved, indicating the region's economy is maintaining its momentum.

UBS REPORTS STRONG RESULTS

The Swiss bank posted a second-quarter profit that exceeded forecasts led by its wealth-management business, and said it is in a comfortable position despite impending new capital requirements and volatile markets.

OBAMA BLASTS GOP CRITICS OF IRAN DEAL

President Obama excoriated Republican critics of the nuclear agreement with Iran-particularly the GOP presidential candidates-saying they're playing "fast and loose" with the facts.

FALLING OIL PRICES HURT CANADIAN ECONOMY

Canada's second interest-rate cut this year shows how lower oil and other commodity prices are reshaping resource-dependent economies around the globe.

COMCAST, DISCOVERY RENEW DISTRIBUTION AGREEMENT

Cable companies Comcast Corp. and Discovery Communications Inc. said Monday that they have agreed to renew a distribution agreement, replacing an earlier deal that expired in June.

GOLDMAN SACHS FINED $1.8 MILLION FOR REPORTING VIOLATIONS

Goldman Sachs Group Inc.'s execution and clearing unit has been fined $1.8 million for reporting violations that spanned more than eight years, the Financial Industry Regulatory Authority said Monday.

PHILIPS PROFIT LIFTED BY WEAKER EURO

Philips reported a 13% rise in second-quarter net profit, but voiced growing concerns about an economic slowdown in emerging markets.

UNITED TECHNOLOGIES BUILDING, INDUSTRIAL CHIEF TO RETIRE

United Technologies said the chief executive of its building and industrial segment, Geraud Darnis, plans to retire in January.

RESTAURANT BRANDS PROFIT RISES

Restaurant Brands International, parent of Burger King and Tim Hortons, posted a stronger-than-expected second-quarter profit as both chains recorded same-store sales growth driven partly by new product launches.

GLASS LEWIS ADVISES AGAINST PARTNERRE-AXIS DEAL

Proxy-advisory firm Glass Lewis is recommending PartnerRe shareholders vote against its proposed $11 billion tie-up with Axis Capital.

TURKEY ACCUSED OF SHELLING KURDISH POSITIONS IN SYRIA

Kurdish fighters accused Turkey of shelling their positions in Syria, highlighting the difficult situation Ankara faces as it presses forward with its first direct fight against Islamic State.

XUEDA EDUCATION TO DELIST FROM NYSE IN $350 MILLION DEAL

Chinese state-owned investment firm Tsinghua Unigroup's buyout offer for Xueda Education suggests some Chinese companies still see opportunity despite the market rout.

CISCO RECRUITS TWO OUTSIDERS FOR SENIOR POSTS

Cisco's new chief executive marked his first day in the job by naming two outsiders to high-profile management posts.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Markets Main 
CHINA TO STEP UP ITS STOCK-MARKET RESCUE

The Chinese government will step up its purchases of stocks in a bid to prop up the equities market, the spokesman for China's top securities regulator said.

 
Capital Journal 
DONALD TRUMP, BERNIE SANDERS AND OTHER FORCES SCRAMBLE THE 2016 EQUATION

Capital Journal: Washington bureau chief Gerald F. Seib takes a look at the political landscape and sees populists like Donald Trump and Bernie Sanders potentially ushering in fundamental political change.