- July’s U.S. Labor-Market Numbers Will Probably Look Familiar (BBG)
- Paul Singer Says Passive Investing Is ‘Devouring Capitalism’ (BBG)
- Beyond Bankruptcy: How Failed Stores Come Back Online (WSJ)
- Tesla short sellers lose almost $800 million as stock rallies after earnings (MW)
- Toyota, Mazda to Invest in Each Other (WSJ)
- EU to impose more Russia sanctions over Siemens case on Friday (Reuters)
- Trouble Comes in Threes for Germany’s DAX Losing European Crown (BBG)
- Credit Card Rewards Are Playing Harder to Get (BBG)
- China regulators plan to crack down further on overseas deals (Reuters)
- BOE Finds Error Behind Spike in U.K. Mortgage Arrears (BBG)
- China’s Fear of Japan-Style Economic Bust Drives Crackdown on Deals, Says Source (BBG)
- RBS Investment Bank Income Jumps, Amsterdam Picked as EU Hub (BBG)
- Watch Out China, India Has a Deadly new Submarine (BBG)
- Islamic State behind Australians’ foiled Etihad meat-mincer bomb plot: police (Reuters)
- That Drone Hovering Over Your Home? It’s the Insurance Inspector (WSJ)
- Duterte Approves Free State College Fees Opposed by Budget Chief (BBG)
- Insurers Think They’ve Found the Perfect Patients for Profits (BBG)
- U.S. Heroin Trade Rooted in Mexico’s ‘Corridor of Death’ (WSJ)
- Keystone XL Foes Don’t Mention Climate in Red State Pipeline Battle (BBG)
- Uber Knowingly Leased Unsafe Cars to Singapore Drivers (WSJ)
- How America Dug a $375 Billion Pension Hole (BBG)
Overnight Media Digest
WSJ
– Uber Technologies Inc managers in Singapore were aware of the Honda Motor Co recall when they bought more than 1,000 defective Vezels and rented them to drivers without the needed repairs, according to internal Uber emails and documents reviewed by The Wall Street Journal. on.wsj.com/2vnvpnN
– Special Counsel Robert Mueller has impaneled a grand jury in Washington to investigate Russia’s interference in the 2016 elections, a sign that his inquiry is growing in intensity and entering a new phase, according to people familiar with the matter. on.wsj.com/2vn76X8
– Andrew Hall, a legendary trader who made billions betting on oil’s rise, confirmed that he is closing the main fund at the firm he founded, Astenbeck Capital Management LLC, after he misjudged the impact of a boom in U.S. production that upended the market. on.wsj.com/2vobwwO
– Avon Products Inc pushed out Chief Executive Sheri McCoy after a disappointing five-year tenure during which she oversaw an overhaul of the storied cosmetics seller but ultimately failed to stop its years-long downward spiral. on.wsj.com/2vnoviw
– Toyota Motor Corp and Mazda Motor Corp are expected to announce plans to build a $1.6 billion assembly plant in the United States, which would create 4,000 new jobs and be up and running by 2021, according to a person briefed on the plans. on.wsj.com/2vnkydu
– West Virginia’s Democratic Governor Jim Justice announced at a rally with U.S. President Donald Trump that he was switching parties to join the Republicans. on.wsj.com/2vns0Wb
FT
Bank of England Governor Mark Carney warned that persistent uncertainty over the UK’s future relationship with the EU is holding back business investment and household spending, as the central bank cut its growth forecasts and left interest rates unchanged.
Britain’s environment secretary, Michael Gove, faced accusations of giving mixed messages about the future of UK fisheries after he spoke positively about the future potential for foreign vessels to fish in British waters.
British Gas said that the cost of the British government’s energy policies is now a bigger share of household electricity bills than wholesale prices.
Georgia Gould, leader of Camden council in north London, has cast doubt on the usefulness of a new batch of fire safety tests ordered by the government, saying they have revealed nothing new.
NYT
– Federal prosecutors are investigating Kushner Companies, the real estate firm owned by the family of Jared Kushner over its use of a program that grants visas to wealthy overseas investors. The authorities are also looking into the role of Kushner’s sister, Nicole Meyer. nyti.ms/2vnlIpm
– Avon Products Inc said its chief executive, Sherilyn McCoy, would step down at the end of March as the door-to-door seller of beauty products has faced pressure from activist investors to reshape its management and speed up its turnaround. nyti.ms/2vnYUGa
-The Trump administration said it would not delay an Obama-era regulation on smog-forming pollutants from smokestacks and tailpipes, reversing a decision that the EPA administrator, Scott Pruitt made in June, to put off an Oct. 1 deadline for designating which areas of the country met new ozone standards. nyti.ms/2vnQj6g
-Alibaba Group Holding Ltd and Kering SA, the owner of brands Gucci and Saint Laurent, said they had resolved their differences. Kering would withdraw a 2015 lawsuit charging that counterfeit goods had been sold from the Chinese e-commerce giant’s website. nyti.ms/2vnogDW
Canada
THE GLOBE AND MAIL
** The number of asylum claims in Quebec tripled in recent weeks from an average of 50 a day to 150, according to the province’s Immigration Minister Kathleen Weil. The recent spike in claims has clogged short-term housing for new arrivals in Montreal, leading the province to open up to 600 beds in the Olympic Stadium. tgam.ca/2v5dDDr
** A Canadian deal to finance a Bombardier Inc jet for the controversial Gupta family of South Africa has cast a fresh spotlight on secrecy policies at the federal government’s export credit agency. tgam.ca/2v4LNHk
** Toronto is considering fast-tracking the opening of three supervised drug-use sites and will ask some police officers to carry a life-saving antidote to fentanyl after a spate of deaths linked to tainted street drugs over the past week. tgam.ca/2v4SXLt
NATIONAL POST
** BCE Inc’s wireless division once more outshone its traditional wired business in financial results released on Thursday, but CEO George Cope said the company’s most critical play this quarter was launching a new television product targeted at cord cutters and ‘cord nevers.’ bit.ly/2v5bUxF
Britain
The Times
The Financial Conduct Authority has been warned that it is failing to give financial firms a clear idea of how to prepare for Brexit with fewer than a fifth of respondents to a survey saying it was doing a good job. bit.ly/2fcLcPK
Bob Mackenzie, the former chairman of the AA Plc who was sacked for “gross misconduct”, is funding the cost of his own hospital stay after the roadside assistance group cancelled his private medical coverage. bit.ly/2fcX5oU
The Guardian
Bank of England Governor Mark Carney has predicted that the financial sector could double in size to be 20 times as big as GDP within the next 25 years, but warned that the government must hold its nerve and resist pressure to water down regulation after Brexit. bit.ly/2uoqJJD
Julius Baer Gruppe AG, a Swiss bank that accepts only customers with at least 2 million pounds ($2.63 million) of assets, is defying Brexit with plans to expand in the United Kingdom through new offices in Manchester, Leeds, and Glasgow. bit.ly/2v1BoOl
The Telegraph
The government must set out a detailed vision for a Brexit “transitional” period or risk losing the confidence of business that it can successfully manage to move to a new relationship with the European Union, the Institute of Directors warns Friday. bit.ly/2u92ZxX
Aviva Plz’s boss has batted off the suggestion that he might relinquish the chief executive job anytime soon as the insurer he once compared to a “couch potato” continues to spring back to life. bit.ly/2vxlPiH
Sky News
OnTheMarket, the online property portal fighting a fierce battle with rivals Zoopla and Rightmove Plc, is to lift the veil on secret plans to demutualise and list its shares in a bumper stock market flotation. bit.ly/2wbi3IS
Investor Forum, a shareholder body whose members manage assets worth 14 trillion pounds, has waded into the multi-billion pound takeover of Worldpay Group Plc, the FTSE-100 payments group.
The Independent
The Unite union has announced a further two-week strike by British Airways staff working for the Mixed Fleet operation at Heathrow. It will begin on Aug. 16, immediately after the current stoppage ends, and continue to Aug. 30. ind.pn/2u7ekyy
via http://ift.tt/2v3oQWC Tyler Durden