- Trump Plans Aggressive Road Show to Sell Tax Overhaul (BBG)
- Trump to weigh more aggressive U.S. strategy on Iran (Reuters)
- Florida Turns to Recovery as Irma Moves North (WSJ)
- What to Expect at Apple’s Biggest Event in Years (BBG)
- A $150 Billion Misfire: How Forecasters Got Irma Damage So Wrong (BBG)
- North Korea warns U.S. of ‘greatest pain’, rejects sanctions (Reuters)
- DowDuPont to Change Breakup Plan (WSJ)
- U.K. Inflation Jumps More Than Forecast to Match 4-Year High (BBG)
- States to Trump: Leave Retirement Rule Intact or We’ll Act (WSJ)
- Why American Workers Pay Twice as Much in Taxes as Wealthy Investors (BBG)
- Equifax Breach Tests Trump Pledge to Dismantle Rules (BBG)
- Corruption Battle Roils Ukraine (WSJ)
- Less spark, slimmer profits for electric carmakers (Reuters)
- Fintech Firm SoFi Says CEO Mike Cagney Will Step Down (WSJ)
- Rich People From These Nations Hide the Most Offshore Wealth (BBG)
- Google Plots to Conquer Self-Driving Cars—by Making Peace With Detroit (WSJ)
- Ferrari’s Entry-Level Portofino Confronts $2.5 Million Mercedes (BBG)
- How Two Years of Crisis Has Tested Volkswagen’s CEO (WSJ)
- Move Over, Millennials: ‘Generation Z’ Has Arrived (WSJ)
- BP files for IPO of U.S. Midwest, Gulf Coast pipeline assets (Reuters)
- Fixing the Stock Market’s ‘Clogged Toilet’ Starts in Delaware (BBG)
Overnight Media Digest
WSJ
– Social Finance Inc, one of the most highly valued private financial-technology startups in the U.S., said on Monday night that Chairman and Chief Executive Mike Cagney would step down by the end of the year. on.wsj.com/2xWDcGM
– Teva Pharmaceutical Industries Ltd on Monday appointed Kare Schultz, a nearly 30-year pharma industry veteran, as the company’s new chief executive. on.wsj.com/2xXcAFy
– ComScore Inc said Monday that most of its board members will resign and it would complete a strategic review of the business amid pressure from shareholders over the company’s management and lack of transparency on finances. on.wsj.com/2xWE1iQ
– The Japanese government is likely to raise more than $10 billion by selling another chunk of Japan Post Holdings Co , which has struggled in its first two years as a public company. on.wsj.com/2xWIuls
– The United Nations Security Council unanimously adopted new sanctions against North Korea on Monday after U.S. officials eased their demands to convince China and Russia to approve the measure. on.wsj.com/2xWYhRD
– British Prime Minister Theresa May won a key vote on Brexit legislation early Tuesday. The bill would come into effect on March 29, 2019, the day the UK is scheduled to leave the EU. on.wsj.com/2xWObQH
– BP PLC’s subsidiary BP Midstream Partners LP said it was planning an initial offering of pipeline assets on the New York Stock Exchange of up to $100 million. on.wsj.com/2xXubgF
FT
Teva Pharmaceutical Industries said it will sell the rights and business of Paragard birth-control device to The Cooper Companies for $1.1 billion, as the pharmaceuticals giant continues to pursue asset sales to slim down and re-focus its global business.
A deal to merge Tata Steel Ltd’s European steel operations and Germany’s ThyssenKrupp could be struck this month, after the Indian Group removed a significant obstacle by separating its UK pension scheme.
Alphabet’s Google Inc said on Monday it had launched an appeal against its record 2.4 billion euros ($2.87 billion) European antitrust fine for abusing its dominance to favour its own shopping services.
Britain’s Financial Conduct Authority summoned Standard Chartered Plc over allegations of bribery at an Indonesian power plant builder, Maxpower Group Pte, majority-owned by the bank’s private equity arm.
NYT
– Leaders of the Senate Finance Committee on Monday demanded answers from Equifax Inc about its major data breach, including pressing for more details about three Equifax executives who sold shares after the breach was discovered. nyti.ms/2w2qQk1
– Social Finance, an online lender that is one of the more prominent financial technology start-ups, said its co-founder and chief executive Mike Cagney planned to step down by the end of the year. nyti.ms/2w3KpIx
– The first gene therapy treatment in the United States was approved recently by the Food and Drug Administration, heralding a new era in medicine that is coming faster than most realize — and that perhaps few can afford. The treatment, Kymriah, made by Novartis AG, is spectacularly effective against a rare form of leukemia, bringing remissions when all conventional options have failed. nyti.ms/2ffqRXv
– Tesla Inc drivers in Florida got an unexpected assist this weekend as they scrambled to evade Hurricane Irma. Tesla confirmed that it had remotely enabled a free software upgrade for vehicles in the path of the storm, motivated by one customer who requested the change while making evacuation plans. The free upgrade will expire on Saturday. nyti.ms/2wWYLcR
Canada
THE GLOBE AND MAIL
** Canada Mortgage and Housing Corp reported that national starts of new home construction hit a seasonally adjusted annual rate of 223,232 units last month, up slightly from July’s 221,974. tgam.ca/2gYgqLk
** Home Capital Group Inc’s Oaken Financial division has been tantalizing investors with Guaranteed Investment Certificate (GIC) rates that were well-above most other Canadian GIC issuers, especially the large banks, after its investors and depositors lost confidence in the lender earlier this year. tgam.ca/2gXW056
** Enbridge Inc has run into a serious setback with its proposed C$7.5 billion ($6.2 billion) Line 3 expansion as Minnesota’s Department of Commerce concluded the company has not established a need for the project as required under state rules. tgam.ca/2gYihjr
NATIONAL POST
** Aspiring ultra-low-cost carrier Canada Jetlines Ltd will fly out of Hamilton and Waterloo when it launches next summer and offer customers a base fare below C$100, its chief executive said on Monday. bit.ly/2gYchHp
** The federal government is proposing to end what one pharmacist has called the “dirty little secret” of Canadian drug policy, requiring a prescription for codeine-containing drugs that are now freely available over the counter. bit.ly/2gXEvCg
** Distribution and sales of marijuana, after it has been legalized, will be carried out via a chain of special-purpose stores operated by the Liquor Control Board of Ontario (LCBO) and staffed by members of the Ontario Public Service Employees Union (OPSEU), thus fulfilling two key objectives of legalization: more money for the LCBO, and more members for OPSEU. bit.ly/2gZ3ipo
Britain
The Times
Vodafone Group Plc is set to spend 2 billion euros ($2.39 billion) building new ultra-fast broadband networks in Germany, as it squares up to rivals including Liberty Global in a battle for control of Europe’s biggest telecoms market. bit.ly/2wWmdVN
Megan Butler, director of supervision at the Financial Conduct Authority, said that the watchdog would monitor closely how banks managed the expected rise in payment protection insurance complaints before the August 2019 deadline. bit.ly/2wVszEM
The Guardian
Alphabet Inc’s Google is appealing against the record 2.4 billion euros ($2.87 billion) fine imposed by the European Union for its abuse of its dominance of the search engine market in building its shopping comparison service. bit.ly/2wWxeXe
The United States has significantly diluted a package of proposed sanctions against North Korea, dropping an oil embargo and enforceable naval blockade in the hope of avoiding a Chinese veto at the UN Security Council. bit.ly/2wVq6dv
The Telegraph
The United Kingdom’s offshore wind sector could power a 17.5 billion pounds ($23.05 billion) investment in the UK economy over the next four years after faster-than-expected cost-cutting slashed subsidies for the technology by half. bit.ly/2wVnah7
Facebook Inc has been hit with a 1.2 million euros ($1.44 million) fine in Spain after the country’s data watchdog found it broke privacy laws. The regulator found Facebook had failed to inform users how their data would be used as it collected the details of millions of people in Spain. bit.ly/2wVLShg
Sky News
Hellman & Friedman, a U.S.-based private equity firm and a former investor in Gartmore, the asset manager, has been approached about backing a buyout of Old Mutual Plc’s 25 billion pounds fund management arm. bit.ly/2wX3V70
Goldman Sachs Group Inc refused to comment on reports that it will open a retail banking offering in the United Kingdom. The U.S. investment bank is said to have hired a former director of TSB Bank Plc to lead a team selling personal loans and operating savings accounts from mid-2018. bit.ly/2wV73Qz
The Independent
More than 20,000 Ryanair passengers have had their flights on Tuesday cancelled due to a strike by French air-traffic controllers. Many other travellers are said likely to be affected by the action by members of the USAC-CGT union. ind.pn/2wW08ql
The International Monetary Fund is resisting putting a moratorium on Barbuda’s sovereign debt repayments in the wake of the devastation left by Hurricane Irma on the tiny Caribbean island which is said to have lost 90 percent of its structures because of the storm. ind.pn/2wVty8b
via http://ift.tt/2wY5gMu Tyler Durden