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.