MONEY (MSM)

Shire to buy Dyax for $5.9 billion, still wants Baxalta

Shire Plc has agreed to buy U.S. rare disease specialist Dyax Corp for about $5.9 billion – and potentially up to $6.5 billion – while still pursuing a five times larger unsolicited bid for Baxalta Inc. It comes amid a record wave of deal-making in the broader healthcare sector so far this year, which amounted to $477 billion as of last week, according to Thomson Reuters data. Shares in the

HSBC profit leaps as drop in fines counters Asia slowdown

HONG KONG/LONDON (Reuters) – HSBC (HSBA.L) profit jumped by a third in the latest quarter as a drop in fines for past misconduct more than offset the impact of a slowdown in Asia and increased spending on regulatory compliance. Europe’s biggest bank also said on Monday that it will step up its push into investment banking activity on the Chinese mainland by establishing a majority-owned securities venture in the country.

Battered transport stocks could attract on price

Continuing weakness in railroad and trucking companies have pushed the Dow Jones Transport Average index away from the S&P 500, a divergence that often is seen as a broad sell sign. “There is no ‘sell’ signal as far as I’m concerned,” said Katie Stockton, chief technical strategist at BTIG in New York.

Largest U.S. banks face $120 billion shortfall under new rule

The requirements are aimed at ensuring that some of the biggest and most interconnected banks, which include Goldman Sachs Group Inc, (GS.N), JPMorgan Chase & Co, (JPM.N), and Wells Fargo & Co (WFC.N), can better withstand another crisis by turning some of their debt, particularly debt issued by their holding companies, into equity without disrupting markets or requiring a government bailout. The banks are expected to meet the $120 billion

Battered transport stocks could attract on price

Continuing weakness in railroad and trucking companies have pushed the Dow Jones Transport Average index away from the S&P 500, a divergence that often is seen as a broad sell sign. “There is no ‘sell’ signal as far as I’m concerned,” said Katie Stockton, chief technical strategist at BTIG in New York.