DJIA: 17,550.69  -47.51 (-0.27%) | NASDAQ: 5,105.546  -9.836 (-0.19%) | S&P 500: 2,093.32  -4.72 (-0.22%) Markets status unavailable

  • Show Article Details

    The following are the top stories on the business pages of British newspapers. The Times. One of Britain's biggest drug companies, Shire, has initiated a $30 billion hostile takeover of Baxalta Inc (BXLT), an American rival, as it seeks to become the world's leading supplier of medicines for rare diseases. The British housing market may have had a brief summer lull, but prices are on the rise again.

  • Show Article Details

    Shire may be getting a reputation as a deal-making thoroughbred. But it can still frighten the horses. Shares in the U.K.-listed specialty pharmaceuticals company, which counts former Credit Suisse deal maker Susan Kilsby as its chairman, dropped sharply on Tuesday after it unveiled an unsolicited approach of around $31 billion to buy rare-disease specialist Baxalta.

  • Show Article Details

    The following are the top stories in the Financial Times. Headlines. HEDGE FUNDS MAKE QUICK BUCK ON RBS STAKE SALE. SHIRE IN $30 BLN APPROACH FOR Baxalta (BXLT). SOFTBANK'S SON BACKS SPRINT REVAMP. BESSENT QUITS SOROS GROUP TO LAUNCH FUND. Overview. Hedge funds made quick money after getting information that the British government was offloading some stake in Royal Bank of Scotland.

  • Show Article Details

    What if Apple offered its own cell service?It's a tantalizing idea, especially for people who hate their existing carriers. If you could somehow buy your cellphone plan from the same people who make the iPhone, the whole experience would be as simple and elegant as a jaunt through your local Apple store. Never again would you have to grapple with a bored and irritable customer service rep from the traditional telecom companies.But despite rumors of a looming Apple-branded cellphone plan (not the first we've heard), the company is shutting down any speculation that it could enter the wireless market.And although the company won't say it, offering cell service is actually a terrible business idea for Apple. Here's why.Let's start by looking at what other players, such as AT&T (T) and Verizon (VZ), are doing. They're moving as fast as they can to acquire exclusive digital content that they can charge you to stream over their cellular networks. The reason they're doing this is simple: It's becoming ever less profitable simply to provide access to the basic data pipe. Connectivity is becoming a commodity, and the way out of the dilemma is for traditional telecom companies to buy up content warehouses like DirecTV and AOL (TWX) and then monetize them.[What the Verizon (VZ) merger means for the Huffington Post and AOL’s biggest blogs]Now let's look at what Apple would have to do to provide a compelling cell service of its own. It would have to build or lease the telecom infrastructure needed to carry calls, at least some of the time. That would require big investments by Apple into what is, as we've discussed, an industry with shrinking margins. Even a service that routed most calls over free WiFi connections would take some elbow grease to set up, and it wouldn't be all that original, anyway.To make any money off of this venture, Apple would almost certainly have to look into offering digital content like TV shows, music and movies. Perhaps with its long-awaited streaming video app, Apple TV, the company could make this programming available to consumers over a cellular connection. But even then, it would simply be doing the same thing that everyone else in the industry is trying to do. And worse, it would be paying enormous sums to build cell towers of its own or paying rivals such as Verizon (VZ), Sprint (S) or T-Mobile to piggyback off of their networks.But look at Google! you might say. Hasn't Google (GOOG) jumped into the industry, with competitive effects? Yes, that's true. Its broadband service, Google Fiber, and its cellular service with Project Fi promise to promote competition and lower prices for consumers. But as I've pointed out before, Google (GOOG) can afford to take money-losing positions in the telecom space because it makes its money off of user data, not service subscriptions. And when other carriers are forced to lower their rates because of Google (GOOG), encouraging more people to adopt and use the Internet, Google (GOOG) still wins.[Google (GOOG) is serious about taking on telecom]Unlike Google (GOOG), Apple isn't much of a data company. It doesn't have a great track record building Web- or cloud-based products. It makes the vast majority of its money from selling hardware. That doesn't preclude Apple from wanting to diversify by getting into other businesses. But if that's really the goal, Apple could find better industries to expand into. Automobiles, for instance, which Apple is said to be exploring aggressively.Launching a cell service is one of the best things Apple could do from a PR perspective; it'd bolster the impression that Apple is still hard at work innovating. But as exciting as it might be to imagine Apple disrupting the wireless industry as a new competitor, it would take a whole lot of work to produce even a minimal amount of payoff. And meanwhile, Apple would be distracting itself from doing what it does best — making awesome machines.READ MORE:Project Fi review: The most remarkable feature of Google's (GOOG) new cell serviceWhy big cities aren't getting Google Fiber anytime soonYou can now get DirecTV on your AT&T (T) smartphone






  • Show Article Details

    Three foreign oil companies that had originally signaled interest in Peru's biggest oil block did not bid in an auction held on Tuesday, state energy regulator Perupetro said. Perupetro said it was now considering negotiating a contract directly with potential operators in order to avoid output disruptions in block 192, which produces 12,000 barrels per day.

  • Show Article Details

    - Italy's Telecom Italia SpA is considering merging its OpenAccess business unit that leases its landline network to rivals with its wholesale business to avoid antitrust charges of as much as 4 billion euros, Bloomberg reported on Tuesday. The reorganization plan will be reviewed by the board on August 6, Bloomberg reported, citing people familiar with the matter.

  • Show Article Details

    Drug manufacturer Baxalta  was the best-performing stock in the S&P 500 Tuesday after an unsolicited takeover offer from a competitor. Shire , a drug company based in Ireland, offered to buy Baxalta (BXLT) for $30.6 billion, or $45.23 a share. Shire said the combined company would post $20 billion in revenue by 2020.

  • Show Article Details

     . Here come the big deals in the hotel industry. "Industry consolidation is possible, but I don't think it's because of Airbnb," said Choice Hotels International (CHH) president and CEO Steve Joyce in an interview with TheStreet (TST). Recently, Starwood Hotels & Resorts Worldwide Inc. (HOT) has been rumored to be in talks with bidders InterContinental Hotel Groups Inc. and Wyndham Worldwide Corp. (WYN) to sell itself.

  • Show Article Details

    Shares of RR Donnelley (NYSE:RRD) & Sons jumped Tuesday as the commercial printing house said it would break into three companies. The stock closed up 48 cents, or 2.8%.CEO Thomas Quinlan III told investors during a Tuesday investor call that the company will split its operations serving the financial printing business, its arm serving retail publishers and merchandisers, and its commercial printing and l...

  • Show Article Details

    Lagunitas Brewing Company is working with Wells Fargo & Co to explore strategic options, including the sale of an equity stake, in a deal that could value the company at around $450 million, people familiar with the matter said.

  • Show Article Details

    China's online travel market just got a big shake-up for the second time this summer. Market leader Ctrip will have to scramble to keep things on a path to consolidation. On Monday, Chinese social and gaming giant Tencent made a take-private offer for eLong, China's No. 3 travel-booking website.

  • Show Article Details

    * To pay $80.25 per IPC share. * Enters post-acute business, expands network of doctors. * IPC shares rise 36 pct to record. By Amrutha Penumudi. TeamHealth Holdings Inc agreed to buy IPC Healthcare Inc (IPCM) for $1.4 billion to gain exposure to the Medicare bundling program and take on more medical staff for supply to nursing homes in the United States.

  • Show Article Details

    The European Commission is encourage by progress in negotiations with Greece on a third international bailout and believes a deal is possible in time to meet an Aug. 20 payment due to the European Central Bank, a spokeswoman said on Tuesday.

  • Show Article Details

    Aetna Inc Chief Executive Mark Bertolini said on Tuesday the company is talking to federal and state officials on its $37 billion acquisition of Humana Inc (HUM) and that there is enough insurance competition for it to receive approval. "The process is underway. "We're doing deep analysis, even deeper than we did before the deal on the number of competitors by market," he said.