- Stocks Advance on Stimulus Bets (BBG)
- Japan to craft stimulus by end-July, may issue construction bonds (Reuters)
- May ally says Britain to trigger EU divorce ‘when we’re ready’ (Reuters)
- Last Woman Standing, Theresa May Offers Calm on Brexit Road (BBG)
- Merkel urges Britain to quickly clarify relationship with EU (Reuters)
- Hillary Clinton Is Drawing in the Left’s Last Holdouts (WSJ)
- Sanders Joins Rest of the Party by Getting on Board With Democratic Unity (BBG)
- Carney Defends BOE Against ‘Extraordinary’ Brexit Accusations (BBG)
- Social Security Isn’t Just for Old Folks Anymore (BBG)
- OPEC says Brexit to weigh on global economy but sees tighter oil market in 2017 (Reuters)
- U.S., Europe Stocks Are Most in Sync Since ’12 on Brexit: Chart (BBG)
- SEC Investigating Tesla for Possible Securities-Law Breach (WSJ)
- Why Those Millennials With Tons of Loans Won’t Refinance (BBG)
- Tribunal says China has no historic title over South China Sea (Reuters)
- Zimbabwe police charge anti-Mugabe protest leader (Reuters)
- Airbus, Boeing Get a Boost From Asia’s Appetite for Air Travel (BBG)
- At least 10 dead, dozens injured in train crash in southern Italy (Reuters)
Overnight Media Digest
WSJ
– General Motors is fighting to get equipment and inventory from Clark-Cutler-McDermott, a family-owned auto parts supplier that filed for Chapter 11 bankruptcy protection last week, saying a contract dispute threatens to shut down 19 GM assembly plants in North America and lead to “tens of millions of dollars in losses.” http://on.wsj.com/29AMBcC
– The U.K.’s Conservative Party made Home Secretary Theresa May prime-minister-to-be Monday, ending three weeks of leadership turmoil and political backbiting that began when Britons voted last month to leave the European Union. http://on.wsj.com/29AMbTH
– The Securities and Exchange Commission is investigating whether Tesla Motors breached securities laws by failing to disclose to investors a fatal crash in May involving an electric car that was driving itself. http://on.wsj.com/29AN0vq
– “Pokémon Go”, which was released less than a week ago, boosted the market value of Nintendo Co by $9 billion in just a few days. Its sudden success is raising questions about the privacy and security technologies fueling the game, as well as the physical risks of playing it. http://on.wsj.com/29ANl1f
FT
* Canadian group Onex Corp and Baring Private Equity Asia are acquiring Thomson Reuters’ intellectual property and science business in an all-cash deal worth $3.55 billion.
* Italy’s UniCredit and Spain’s Banco Santander are scrambling to save a plan that would create one of Europe’s largest money managers after the UK’s vote to leave the EU added to concerns about the outlook for the 5.3 billion euro ($5.86 billion) deal.
* The Russian government has sold a 10.9 percent stake in diamond miner Alrosa for 52.2 billion roubles ($814 million) as part of a privatisation programme aimed at plugging the country’s budget deficit.
* Siemens has backed away from its earlier warnings that Brexit could make the U.K. a worse place to do business in and affect the group’s future British investment plans.
NYT
– Pokemon Go, the smartphone game that has soared to the top of the download charts, shows how a new technology can break through from niche toy for early adopters to go mainstream. http://nyti.ms/29MjW4N
– Southwestern Energy Co is leading an industry group that aims to cut methane leakage to less than 1 percent of national gas production. http://nyti.ms/29LBMFh
– Twitter Inc said on Monday it would partner with CBS Corp to live-stream the Democratic and Republican National Conventions later this month, as the social media company works to be a leader in broadcasting live news and entertainment. http://nyti.ms/29sIOkc
– After defending the Affordable Care Act in all its intricacies for six years, President Obama proposed ways to improve it, saying the Congress should provide larger subsidies for private health insurance and create a public plan like Medicare to compete with private insurers in some states. http://nyti.ms/29zVYIl
Canada
THE GLOBE AND MAIL
** The LNG Canada joint venture led by Royal Dutch Shell Plc has delayed its final investment decision on exporting liquefied natural gas from Kitimat in northern British Columbia. (http://bit.ly/29t3j0g)
** The Toronto Real Estate Board is stepping up its efforts in court to overturn a decision by the federal Competition Tribunal that allows more detailed home sales data to be released on the internet. (http://bit.ly/29t39pG)
** Key stakeholders of Essar Steel Algoma Inc are pursuing a multi-pronged effort to block the purchase of the steelmaker by a New York-based private equity fund, KPS Capital Partners LP, and a group of lenders. (http://bit.ly/29t3wka)
** Canada’s telecom regulator has officially given discount wireless startup Sugar Mobile a reprieve, ruling that the newcomer can keep relying on roaming services from Rogers Communications Inc – at least for the time being. (http://bit.ly/29t3rNn)
NATIONAL POST
** The provincial government announced on Monday that it was going ahead with plans that would allow the city to tax owners of vacant property – a tax pushed for and endorsed by Vancouver’s mayor, Gregor Robertson. (http://bit.ly/29t3LM8)
** In barely a year, Alberta’s New Democratic Party (NDP) government has gone from threatening to increase oil and gas royalties to having to provide royalty incentives to stimulate drilling activity. (http://bit.ly/29t3WHa)
** In about two weeks, shareholders of Migao Corp will be asked to vote on a transaction whereby the chief executive plans to acquire the company, which owns and operates fertilizer production plants in China, for 75 cents per share. (http://bit.ly/29t3Saw)
via http://ift.tt/29Ejqb5 Tyler Durden