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United States news, headlines, events , stories and all that is trending today

Frontrunning: July 28

  • Fed caution hits dollar as Japan anticipation builds (Reuters)
  • Obama asks U.S. voters to ‘carry’ Clinton to White House, defeat Trump (Reuters)
  • Democrats skewer Trump (Politico)
  • Obama, Biden Toss Barbs at Trump and Say Clinton Is Only Choice (BBG)
  • Did Donald Trump’s Executives Violate the Cuban Embargo? (BBG)
  • ‘Helicopter money’ might weaken currencies more than QE as sky’s the limit (Reuters)
  • German inflation remains weak despite rise in July, state data suggest (Reuters)
  • China says to hold drills with Russia in South China Sea (Reuters)
  • Gas Taxes Keep Rising to Quell a Different Kind of Road Rage (BBG)
  • China’s Taikang Life Insurance Takes 13.5% Stake in Sotheby’s (WSJ)
  • Insurance Companies Have Joined the Ranks of Shadow Banks (BBG)
  • German police raid mosque and apartments in crackdown on Salafists (Reuters)
  • Little known jihadist inspired latest wave of ‘lone wolf’ attacks (Reuters)
  • Second French church attacker was known to police: sources (Reuters)
  • Households on the Hook for Italy’s Next Bailout (BBG)
  • Credit Suisse: No Time to Gloat (BBG)
  • Tepco’s Profit Plummets Amid Declining Sales and New Competition (BBG)
  • Gawker Founder Nick Denton Wins Temporary Reprieve From Hulk Hogan Judgment (WSJ)

 

Overnight Media Digest

WSJ

– The Federal Reserve opened the door to an interest rate increase later this year, possibly as early as September, after a policy meeting at which officials concluded the economy is on more solid footing and risks to the outlook have diminished. http://on.wsj.com/2auOlqm

– A Chinese life insurance company run by the grandson-in-law of Chairman Mao Zedong has bought a 13.5 percent stake in Sotheby’s, citing a “positive view” of the auction house as well as potential interest in a board seat. Taikang Life Insurance Co Ltd <IPO-TKLI.HK>, one of China’s biggest insurance companies, disclosed its stake Wednesday in a filing with the Securities and Exchange Commission, a regulatory requirement for active investors who press for corporate change. http://on.wsj.com/2ab8b7T

– Boeing Co said in a regulatory filing Wednesday that it might stop production of the 747, ending nearly a half-century of building the plane that became the aircraft of choice for the U.S. president and other heads of state. http://on.wsj.com/2av9JgQ

– SABMiller Plc has paused its integration work with Anheuser-Busch InBev, as the London-based brewer’s board consults with shareholders over whether the revised offer AB InBev broached on Tuesday is acceptable. http://on.wsj.com/2ahPv51

– Eli Lilly and Co Chief Executive John C. Lechleiter will retire at the end of the year, the company said Wednesday, capping nearly four decades at the pharmaceutical manufacturer and an eight-year tenure at its helm. The company’s board tapped David A. Ricks, the head of its biomedicines division, as Lilly’s next CEO. http://on.wsj.com/2a4FdVs

– A Florida appeals court temporarily lifted the threat of personal bankruptcy hanging over Gawker Media LLC founder Nick Denton as a result of a heated legal battle with former wrestler Hulk Hogan. The judge’s ruling Wednesday prevents Terry Bollea, the wrestler’s real name, from enforcing a $140 million invasion-of-privacy judgment handed down in Florida earlier this year over sex tape the blog published in 2012. The judgment, which is being appealed, led Gawker to file for Chapter 11 protection last month. http://on.wsj.com/2a5rZaU

 

NYT

– Federal regulators are preparing to significantly strengthen the rules that govern debt collection in an effort to clamp down on collectors who hound consumers for debts they may not even owe. http://nyti.ms/2ascVH9

– Carlyle Group plans to announce on Thursday that it has appointed Sandra Horbach as one of two co-heads of its main United States buyout arm. The move will make Horbach one of the most senior women in private equity. http://nyti.ms/2asddO1

– Facebook reported second-quarter earnings with strong increases across almost every measure. It said sales totaled $6.44 billion for the quarter, up 59 percent from a year ago, while profit almost tripled to $2.06 billion. The rise was driven by strong mobile ad sales, as well as a steady ascent in its number of users. http://nyti.ms/2asdr7T

– Teva Pharmaceutical Industries won U.S. antitrust approval to buy Allergan’s generics business after agreeing to sell 79 generic drugs to rival firms. Federal Trade Commission’s Bureau of Competition said in a statement that the settlement “safeguards the competitive availability of these medications for patients across the country who depend on them.” http://nyti.ms/2asdwZc

 

Canada

THE GLOBE AND MAIL

** Canada’s federal housing agency has raised new alarms about the country’s housing market, warning that euphoria over real estate is spreading beyond detached homes in Toronto and Vancouver to townhouses and condos, and to other cities. (http://bit.ly/2azYzE8)

** Alberta’s wildfires took their toll on Suncor Energy Inc in the second quarter. Overall production averaged 330,700 barrels a day, down 41 percent from the same period in 2015. (http://bit.ly/2aiX3rg)

** Macquarie Capital Markets Canada Ltd is losing a veteran energy analyst. Chris Feltin, who has worked in equity research for 12 years at the Australian-owned bank and the Canadian firm it acquired, has decided to take a mid-career break. (http://bit.ly/2ajAgbZ)

NATIONAL POST

** The government of Ontario has named Hudson’s Bay Co vice chair Bonnie Brooks as the new Liquor Control Board of Ontario’s chair, one day after announcing the launch of an online site where customers will be able to order alcohol. (http://bit.ly/2ay73yM)

** The return of the gold bull market in 2016 is driving massive cash generation for Canada’s largest miners of the metal. Barrick Gold Corp, Kinross Gold Corp and Agnico Eagle Mines Ltd reported major improvements in cash flow generation. (http://bit.ly/2ay7Y2a)

 

Britain

The Times

At least one airport in the south of England is expanding. London City has been given the go-ahead to increase capacity by nearly 40 percent as part of a 344 million pounds ($455.32 million) plan. http://bit.ly/2ayNcwg

Royal Bank of Scotland Group Plc is attempting to settle a multibillion-pound legal claim brought by shareholders who say they were misled into supporting the bank’s 12 billion pounds rights issue in 2008. http://bit.ly/2ayPrzF

The Guardian

The UK arm of Spanish bank Banco Santander SA, has admitted it would be able to charge some customers to hold their deposits if interest rates drop below zero, without having to send letters warning them of the possibility in the way that Royal Bank of Scotland has. http://bit.ly/2ayQ0cN

London-based brewer SABMiller Plc has paused integration planning with Budweiser owner Anheuser Busch InBev SA while it reviews its U.S. suitor’s improved takeover offer. http://bit.ly/2ayQeAv

The Telegraph

Stockbroker Cenkos is being investigated by the Financial Conduct Authority over its work with Quindell, the insurance outsourcing company at the heart of one of the biggest scandals on the Aim market in recent years. http://bit.ly/2ayRIuJ

GlaxoSmithKline Plc is investing 275 million pounds in three of its manufacturing sites in the UK in one of the biggest business votes of confidence in the country since the result of the EU referendum. http://bit.ly/2ayS6tg

Sky News

The Pinewood film studio that is home to James Bond’s movie franchise is in advanced talks to be sold to an international property fund for a price expected to be over 300 million pounds. http://bit.ly/2aySEPJ

McDonald’s Corp has announced it will be creating 5,000 new jobs in the U.K. by the end of 2017. The fast-food chain said the roles were in addition to 8,000 new positions that were announced in 2014 – bringing the workforce to more than 110,000. http://bit.ly/2aySqrM

The Independent

House prices growth is expected to slow following the U.K.’s vote to leave the European Union, according to economists. UK house price growth will drop from 6 percent in 2015 to 5.7 percent in 2016, according to the Centre for Economics and Business Research, an economic forecaster. http://ind.pn/2aySjNa

 

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