TOP STORIES 
 
SHIRE MOUNTS BID WORTH $30 BILLION FOR U.S. BIOTECH 

Dublin-based Shire made a hostile offer worth $30.6 billion for rare-disease-treatment maker Baxalta, the latest example of a foreign company using its tax-friendly status to go after a U.S. firm.

FREDDIE MAC TO SEND $3.9 BILLION TO TREASURY DEPARTMENT 

Mortgage-finance company Freddie Mac will send the U.S. Treasury Department $3.9 billion in September, after posting a sharp increase in profit during its second quarter.

GLOBAL INFLATION REMAINS STUBBORNLY LOW 

Global inflation rates were unchanged in June even as some central banks prepare to raise their key interest rates for the first time since the global financial crisis.

U.S. STOCKS MIXED, EUROPEAN EQUITIES DROP AS CHINA RALLIES 

Stocks drifted lower on both sides of the Atlantic on Tuesday, while fresh measures to curb volatility prompted a rally in China.

GM TO UPGRADE FLINT, MICH., PLANT 

General Motors will spend $877 million to upgrade a truck factory in Flint, Mich., amid solid demand for the auto maker's Chevrolet and GMC full-size pickups.

SPRINT LOSS BEATS ESTIMATES AS CUSTOMER BASE GROWS 

Sprint added mainstream customers in the June quarter as its cancellation rate hit a record low, and the struggling wireless provider's loss was smaller than Wall Street expected.

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.

OFFICE DEPOT SEES SALES SLIDE 10% 

Office Depot Inc., awaiting regulatory approval of its merger with rival Staples Inc., saw sales slide in its second-quarter as currency headwinds, store closures and a declining market in the face of an increasingly digital workplace dented results.

CHARTER REVENUE RISES 

Charter Communications reported that its revenue rose slightly more than expected because of higher Internet and commercial revenues, ahead of its merger with Time Warner Cable.

BLOOMIN' BRANDS EARNINGS HELPED BY OUTBACK SALES GROWTH 

Bloomin' Brands Inc. reported better-than-expected second-quarter earnings, helped by sales growth at its Outback Steakhouse restaurant chain.

KELLOGG PROFIT FALLS AS CURRENCY DENTS SALES 

Kellogg Co. said its second-quarter earnings fell 24% as sales abroad were hurt by a stronger U.S. dollar and weak domestic demand for cereal and other packaged foods.

MGM PROFIT FALLS ON CONTINUED MACAU HIT 

MGM Resorts earnings fell 11% amid continued weakness in Macau, and the hotel operator introduced a plan to boost growth and streamline operations.

COACH SALES FALL AGAIN 

Coach Inc. said profit plunged in its latest quarter as the luxury retailer reported deteriorating sales and restructuring-related charges.

EU AGREES FREE TRADE DEAL WITH VIETNAM 

The European Union said it had agreed in principle on a sweeping free-trade deal with Vietnam that could create a benchmark for future agreements between the bloc and fast-growing Asian economies.

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.

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.

CRÉ DIT AGRICOLE SHARES SINK AS  RESTRUCTURING PLAN HITS HURDLE 

Shares in Cré dit Agricole dropped around 11% after the French bank said plans to revise its complex structure had hit a hurdle, as it has yet to agree terms with European regulators.

ALIBABA NAMES MICHAEL EVANS AS PRESIDENT 

Alibaba appointed Michael Evans, a former top Goldman Sachs executive, to oversee the Chinese e-commerce giant's international expansion strategy.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Markets Main 
CHINA'S RESPONSE TO STOCK ROUT EXPOSES DISARRAY 
 

Conflicting moves and a lack of coordination hampered Beijing's initial response to its stock-market rout, raising questions about whether Chinese authorities will be up to the challenge of implementing market changes.

 
Markets Main 
U.K. FRAUD OFFICE PLANS MORE LIBOR CHARGES 
 

British fraud prosecutors, fresh from their conviction of former bank trader Tom Hayes, are planning to bring criminal charges against additional individuals in the coming months.