- EU demands Apple pay Ireland up to 13 billion euros in tax (Reuters)
- Dollar Advances as Treasuries Drop on Rate Outlook; Stocks Rise (BBG)
- Chinese embassy in Kyrgyzstan hit by suspected suicide car bomb (Reuters)
- France, joining German Economy Minister, urges halt to trade talks with U.S. (Reuters)
- Euro zone monthly economic sentiment falls more than expected (Reuters)
- Japan’s Household Spending and Unemployment Fall in July (BBG)
- At Ports, a Sign of Altered Supply Chains (WSJ)
- Food Price Deflation Cheers Consumers, Hurts Farmers, Grocers and Restaurants (WSJ)
- Fed’s Fischer says U.S. job market ‘very close’ to full strength (Reuters)
- Defiant Rousseff says Brazil’s democracy on trial with her (Reuters)
- Yuan Bears Emerge From Hibernation as Fed Imperils G-20 Calm (BBG)
- Employers Find ‘Soft Skills’ Like Critical Thinking in Short Supply (WSJ)
- Can Assange and Denton revive the Wikileaks-Gawker revolution? (Reuters)
- Beneath Yuan’s Quiet, China Worries Rise (WSJ)
- Massachusetts Could Swap Time Zones for Later Winter Sunsets (BBG)
- Fight for Syria’s Aleppo exposes limits of Russian air power (Reuters)
- Japan’s First Home-Made Jet Back in Hangar After Aborted Tests (BBG)
Overnight Media Digest
WSJ
– Oreo cookie maker Mondelez International Inc ended its pursuit of Hershey Co after the famed chocolatier rebuffed its latest acquisition offer, putting an end to a months-long takeover campaign that would have created the world’s largest candy company. http://on.wsj.com/2bMOS4d
– Gene Wilder, who blended manic energy, quiet irony and quirky humanity in “Willy Wonka and the Chocolate Factory” and other classic comedies of the 20th century, has died at the age of 83, according to his agent. http://on.wsj.com/2caBquS
– Republican Donald Trump has said he isn’t interested in running a traditional presidential campaign. Campaign-finance records show he’s not. Half of the campaign’s 10 highest-paid consultants over the course of the election had never previously worked for a presidential campaign. http://on.wsj.com/2caCWNo
– When Turkish ground forces delivered a lightning strike on Islamic State fighters in Syria last week, the Pentagon hailed what it described as close U.S.-Turkish coordination. But behind the scenes, cooperation between the North Atlantic Treaty Organization partners broke down at senior levels, according to officials on both sides. http://on.wsj.com/2bNgc2j
– Mylan NV, whose price hike on its life-saving EpiPen drug drew broad criticism this month, said it would launch a half-priced generic version of the medicine-in effect, competing against itself. http://on.wsj.com/2buEXT3
– The European Union’s antitrust regulator is poised to rule as soon as Tuesday that Apple Inc tax arrangements with Ireland have breached the bloc’s state-aid rules. The EU’s decision is likely to aggravate trans-Atlantic tensions over the investigations into tax deals brokered between U.S. multinational corporations and individual European countries. http://on.wsj.com/2bRdRp7
– Uber Technologies Inc said a longtime Alphabet Inc executive has left its board as the two tech companies increasingly clash over the future of transportation and logistics. http://on.wsj.com/2bwEFes
– Fox News Channel called claims by former on-air personality Andrea Tantaros that she was sexually harassed by former network chief Roger Ailes a “smokescreen to obscure her violation of her employment contract.” http://on.wsj.com/2bw1OR6
FT
– Frank McCourt entered exclusive talks to buy French football club Olympique de Marseille in a deal said to be worth 50 million euros ($55.94 million).
– Royal Dutch Shell’s North Sea assets that are being sold have attracted bidders such as Carlyle Group-funded Neptune and Siccar Point Energy. The companies are looking at a package of the assets offered by Shell as a part of the $30 billion disposal programme.
– Carolyn Fairbairn, head of the CBI employers’ federation, has urged the British government and regulators to allow the banking industry “off the naughty step” if the City of London has to fend off post-Brexit challengers.
– Deloitte has clocked its fastest UK revenue growth in 10 years, driven by improvement in corporate client sentiment over the past 18 months. Its UK revenue increased by 13.6 percent to 3.05 billion pounds ($4.00 billion) in the 12 months to May 31.
NYT
– The European Union’s competition authorities are set to announce a tax ruling against Apple Inc’s tax dealings with the Irish government on Tuesday. The decision is set to further aggravate tensions between American officials and their European counterparts. http://nyti.ms/2by7hke
– Zhongwang USA, backed by Chinese aluminum magnate Liu Zhongtian, said it would buy U.S. aluminum company Aleris in a bet by the billionaire that the nascent U.S. automotive aluminum sector will be the industry’s next big growth market. http://nyti.ms/2by8Dvt
– The U.S. Food and Drug Administration issued emergency authorization for a Zika diagnostics test from Swiss drugmaker Roche, skirting normal approval channels as the regulator moves to fight the disease’s spread. http://nyti.ms/2by82tz
– Mylan said on Monday that it would be introducing a generic EpiPen which would be identical to the existing product, however, it will have a wholesale list price of $300 for a pack of two. http://nyti.ms/2byabpi
Britain
** A former Barclays Plc trader, Christopher Ashton, faces becoming the first individual to be fined over allegations that he rigged the foreign exchange market after U.S. regulators pressed ahead with moves to impose a penalty of more than $1 million. http://bit.ly/2bxurMN
** The fatal collapse of a Brazilian dam operated by a mining company owned by BHP Billiton Plc and Vale SA occurred because its poorly designed structure allowed water to seep into its infrastructure and left sand inside the dam “loose, uncompacted and saturated,” an expert panel announced. http://bit.ly/2bxtCDn
The Guardian
** More than 75,000 people have signed an EU staff petition calling on former European Commission President Jose Manuel Barroso to forfeit his pension because they say he brought the European Union into disrepute by joining Goldman Sachs. http://bit.ly/2bxu58H
** The government is considering a proposal to detach development of the Hinkley Point C nuclear power plant from an agreement allowing China to build a reactor in Essex. http://bit.ly/2bxtgwT
The Telegraph
** A former City minister has attacked SoftBank’s perceived lack of commitments to ARM Holdings Plc as shareholders prepare to approve the 24.3 billion pounds ($31.84 billion) offer for Britain’s most high-profile technology company. http://bit.ly/2bxtrrV
** BHS pensioners are facing a protracted wait over the future of their payments, as it will take “months” for Sir Philip Green to broker a deal to plug the retailer’s pension black hole, it has emerged. http://bit.ly/2bxtwMn
Sky News
** Morgan Stanley is retreating from investing in European buyouts months after writing a big cheque to the campaign to keep the UK in the EU. http://bit.ly/2bxtNPe
** The multimillionaire founder of JJB Sports, Dave Whelan, has struck a deal to lead a break-up of Fitness First, the group that was once Britain’s biggest gyms operator. http://bit.ly/2bxu84A
The Independent
** The Bank of Mum and Dad has the potential to branch out further as a major national mortgage lender, according to a new survey. More than a quarter of parents and grandparents might be interested in lending money to youngsters other than their own offspring to buy a home, according to insurance group Legal & General. http://ind.pn/2bxvk7T
via http://ift.tt/2bymPbg Tyler Durden