- Chinese stock markets fell on Tuesday again, despite a series of measures taken by authorities to try to arrest the stocks' slide. After a brief pause in the slide on Monday, the CSI300 index of the largest listed companies in Shanghai and Shenzhen was down 2% in afternoon trading on Tuesday, while the Shanghai Composite Index had shed 1.4%.
- Greek Prime Minister Alexis Tsipras submits proposals for fresh negotiations with eurozone partners as his country faces a last-ditch attempt to get a big loan and save itself from collapse. The European Central Bank (ECB) froze the emergency liquidity assistance to the level agreed on June 26, when negotiations were broken off by Tsipras' decision to call a referendum, which rejected the creditors' offer for a bailout.
- Germany's two media giants, broadcaster ProsiebenSat.1 and publisher Axel Springer, are in talks to merge, the Wall Street Journal reports, quoting people familiar with the talks. The two companies' combined market cap is around $16 billion.
- Profit at South Korean gadget giant Samsung, a rival of Action Alerts Plus charity portfolio holding Apple (AAPL), decreased, reinforcing fears that the sales of its Galaxy S6 smartphone fell short of estimates. Operating profit in the three months to June was 4% below consensus estimates in a Bloomberg poll of analysts.
- Israel-based pharmaceutical company Teva (TEVA) is getting ready to increase its offer for U.S. company Mylan (MYL) as soon as this week, the Financial Times reports, citing people familiar with the matter. The offer is likely to value Mylan shares at between $86 and $88 per share. Mylan in April rejected an offer valuing one of its shares at $82.
More from China
Developer debt, coal shortages, power outages and record flooding mean "common prosperity" may be harder to achieve than President Xi thinks.
The lack of urgency at the FDA, as it is in the defense space, is alarming.
The tech giant doesn't want to risk its big cloud computing and software business in China over censorship traps that its social media jobs site faces.
An ETF should be the sensible way to access the supercharged growth potential of alternative vehicles, with China by far the most-promising market.
With constrained trade routes between the U.S. and China, I want to own a piece of whomever is steering or parking those big ships off the port of Los Angeles and elsewhere.