Shire Offers to Buy Baxalta for $30 Billion
Shire said it has offered to acquire Baxalta in an all-share
deal valued at roughly $30.6 billion, in a combination what would
create a leader in treatments for rare diseases.
Archer Daniels Midland Earnings Fall on Record Ethanol Production
Archer Daniels Midland Co. said its earnings fell more than
expected in the second quarter, as record ethanol production
limited profits.
CVS Health Gives Soft Outlook
CVS Health Corp. on Tuesday gave a soft earnings outlook for its
current quarter, while growing sales of prescription drugs
continued to offset weakness in its retail business for the second
quarter.
Aetna Lifts Guidance as Profit Tops Expectations
Aetna Inc., which has agreed to buy fellow insurer Humana Inc.,
reported better-than-expected earnings for its second quarter as it
benefits from growth in its government business.
U.K. Sells 5.4% Stake in RBS
The U.K. government said it had sold a 5.4% stake in Royal Bank
of Scotland, raising $3.24 billion and kicking off a long-awaited
privatization of the lender.
Toyota Posts Record Profit
Toyota Motor posted a record quarterly net profit, as Japan's
biggest auto maker continued to bank on a weaker yen.
BMW Profit Falls Amid Fierce Competition
German premium car maker BMW has reported a decline in
second-quarter profit due to rising costs and tougher competition
in China that forced the luxury auto maker to sell its cars at
lower prices.
Crédit Agricole Restructuring Plan Hits Hurdle
Crédit Agricole said plans to revise its complex structure have
hit a hurdle, as it has yet to agree terms with European
regulators, sending its shares sharply lower.
Alibaba Names Michael Evans as President
Alibaba Group appointed Michael Evans, a former top Goldman
Sachs executive, as president to oversee the company's
international expansion strategy.
Axel Springer Posts Drop in Second-Quarter Earnings
Axel Springer said second-quarter earnings declined slightly,
but revenue rose as the German publisher continues to pursue its
digital expansion, two weeks after it lost out on buying the
Financial Times.
Regeneron Pharmaceuticals Profit Doubles
Regeneron Pharmaceuticals Inc., which recently won approval for
its cholesterol drug, said profit doubled in its second quarter as
sales of its eye-disease treatment surged.
Time Inc. Swings to a Profit
Time Inc., the publisher of magazines including Fortune, Sports
Illustrated and Food & Wine, swung to a profit in its latest
quarter as lower costs, thanks in part to lower production volume,
offset a decline in revenue.
R.R. Donnelly to Break Up Business
R.R. Donnelly & Sons Co. said Tuesday that it plans to split
itself into three publicly traded companies, joining the recent
wave of companies looking to spur growth by breaking up.
Coalition Forces Take Yemen Air Base From Rebels, Says Ministry
Forces fighting for a Saudi-led military coalition in Yemen have
defeated the country's Houthi rebels at a strategic southern air
base, the Yemeni defense ministry said.
Tencent Offers to Buy eLong
Chinese online travel company eLong has received a takeover
offer from its shareholder Tencent, the latest move in a sector
that has seen an abundance of deal activity.
J.P. Morgan to Accelerate Timeline for Cybersecurity Spending Boost
J.P. Morgan said it expects to increase spending on
cybersecurity in the coming years, accelerating its initial
timeline of such spending growth.