- Hurricane Irma makes landfall in the Caribbean (Reuters)
- Social and Economic Polarization in U.S. Worsens, Poll Finds (WSJ)
- Trump Risks GOP Civil War Pushing Congress for ‘Dreamer’ Bill (BBG)
- Michael R. Bloomberg: Trump’s DACA Failure Is Congress’s Opportunity (BBG)
- Array of Threats Stir Up Markets (WSJ)
- Draghi’s Claim of QE Flexibility Is Attracting Doubters (BBG)
- Moon Seeks Putin’s Help, Warns of ‘Uncontrollable’ North Korea (Bloomberg)
- Moscow, Seoul closer on North Korea after their leaders meet: RIA cites Kremlin (Reuters)
- FBI Says 1MDB Stolen Funds Witnesses Are Scared to Talk (BBG)
- Benzene Detected in Houston After Refinery Is Damaged (WSJ)
- Top EU court rules eastern states must take refugees (Reuters)
- Poland’s stance on migrants unchanged despite EU court ruling: PM (Reuters)
- EU threatens Hungary, Poland with fines if refuse refugees (Reuters)
- NYC Landlords That Can’t Find Buyers Turn to Borrowing Instead (BBG)
- Putin says sanctions, pressure alone won’t resolve North Korea crisis (Reuters)
- Newspapers Find Their True Value in Real Estate, Not Publishing (BBG)
- Goldman Sachs wanted Boeing to bid on airplane parts maker (Post)
- Investment Gurus Counsel Catching Reform Tailwinds in Latin America (BBG)
- Over half of Japan’s regional banks losing money on core businesses (Reuters)
- American Express Hunts Millennials With No-Fee Delta Credit Card (BBG)
Overnight Media Digest
WSJ
– Boeing Co on Tuesday raised objections about United Technologies Corp’s proposed takeover of Rockwell Collins Inc, threatening to drop some contracts with the suppliers if the merger undermines competition in the aerospace supply chain. on.wsj.com/2eD0g5C
– President Donald Trump pressed harder on potential military options in North Korea, offering billions of dollars in new American military equipment to allies in Asia and saying South Korea should use bigger conventional payloads on its missiles as deterrence. on.wsj.com/2eDNX9u
– Fabio Porfirio Lobo, son of former Honduran president Porfirio Lobo, was sentenced to 24 years in prison Tuesday for conspiring to import cocaine into the U.S. on.wsj.com/2eEjw2P
– On Tuesday, Hurricane Irma grew to become one of the most powerful storms ever recorded over the Atlantic Ocean, raising severe threats to islands in the Caribbean while prompting evacuations in Florida and disrupting air and sea travel. on.wsj.com/2eDlL6J
– Trump on Tuesday urged lawmakers to formulate broad immigration legislation by March as he would effectively end a program that protects undocumented immigrants who arrived in the U.S. as children. on.wsj.com/2eDLTy6
– U.S. Ambassador to the United Nations Nikki Haley on Tuesday laid out a path for the White House to declare that Iran isn’t complying with the 2015 nuclear deal. on.wsj.com/2eDPbl0
– Senate GOP leaders signaled Tuesday they will tie an increase in the nation’s borrowing limit to an aid package for victims of Tropical Storm Harvey, a move that could boost the debt-limit legislation’s chances of passage ahead of a deadline this month. on.wsj.com/2eDPRXD
FT
* Britain will end the free movement of labour immediately after Brexit and introduce measures to drive down the number of lower-skilled EU migrants, a leaked government document published by the Guardian newspaper said on Tuesday.
* Lego announced a 5-percent decline in mid-year revenue a month after abruptly removing its chief executive, suggesting it is facing its biggest test since flirting with bankruptcy in the early 2000s.
* Boeing Co warned on Tuesday that it will oppose United Technologies Corp’s $30-billion plan to buy avionics maker Rockwell Collins Inc.
NYT
– The renegotiation of the North American Free Trade Agreement sputtered forward on Tuesday as officials from the United States, Canada and Mexico concluded their second round of talks with plenty of pleasantries but little major progress to announce. nyti.ms/2wF7AG5
– Lego, the toy company said on Tuesday that it would cut 1,400 jobs after earnings showed its revenue and profit both fell in the first half of the year. The results come as Lego faces an increasingly competitive landscape. More children use mobile devices for entertainment, leaving Lego to battle not just its traditional rivals like Mattel Inc and Hasbro Inc. nyti.ms/2wEkV3g
– Europe’s human rights court ruled on Tuesday that companies can monitor their employees’ email if they are notified in advance, giving shape to a rapidly evolving area of the law at the intersection of technology, privacy and workers’ rights. nyti.ms/2x9Ktqo
– President Trump’s decision to end the Deferred Action for Childhood Arrivals program, created by President Obama to allow children who entered the United States illegally to remain the country, spurred reactions through the business community — many of them opposed to the rollback of protections. nyti.ms/2eISZoC
– Rovio Entertainment Ltd, the Finnish mobile games and animation studio is planning an initial public offering that could value the company at roughly $2 billion, in a test of whether investors will find favor in a single franchise and whether the business can evolve. nyti.ms/2x9zgpL
Canada
THE GLOBE AND MAIL
The Canadian government is looking into buying second-hand fighter jets in Australia – instead of a new fleet of 18 Super Hornets – as it tries to force Boeing Co to drop its trade dispute against Bombardier Inc. tgam.ca/2w6uCnA
Mexico’s economy minister is vowing that the renegotiation of the North American free-trade agreement will start to show results when talks move to Ottawa at the end of this month, as the three countries work to knock off the easiest items on the agenda. tgam.ca/2w66CRi
French video-game publisher Ubisoft Entertainment SA is raising its bet on Quebec, unveiling plans to invest another C$780 million ($630.15 million) and create 1,000 jobs in the province over the next decade amid persistent criticism over the tax breaks the company receives. tgam.ca/2w69fmq
NATIONAL POST
Under pressure to sell off assets and cut down its debt, Cenovus Energy Inc announced a C$975 million sale of a heavy oil property, but analysts say it may still be difficult for the company to hit its divestiture target. bit.ly/2w68860
Britain
The Times
– The North Sea oil industry must “earn its right to grow”, Royal Dutch Shell PLC warned yesterday as an industry report from Oil & Gas UK, said that more capital investment was urgently needed to prevent a steep drop in production. bit.ly/2x95SzU
– One of the world’s most “powerful” aerospace parts companies has been formed with the $30 billion takeover of Rockwell Collins Inc by United Technologies Corp . bit.ly/2x9dH94
The Guardian
– UK PR firm Bell Pottinger is facing a fight for survival as a string of clients and senior staff quit in the wake of a scandal over its secret campaign to stir up racial tensions in South Africa. bit.ly/2x99y4V
– Business leaders have blamed the uncertainty created by Britain’s vote to leave the European Union for the slowest pace of output growth in the services sector for almost a year. bit.ly/2x8FvtR
The Telegraph
– The BBC will launch a salary review of presenters and rank-and-file staff in an attempt to quell anger sparked over the corporation’s gender pay gap. bit.ly/2x8AUrI
– Lego is shedding 1,400 staff as a decade long-run of sales growth ends after expansion failed to deliver expected sales growth. bit.ly/2x9bES6
Sky News
– The Communications Workers Union is to ballot more than 100,000 of its members working for Royal Mail PLC over industrial action. bit.ly/2x8ZLeZ
– Liberal Democrat leader Vince Cable has demanded the government act to protect UK firms from foreign takeovers that are not in the public interest in the wake of the 3 billion pound ($3.91 billion) merger between Aveva Group PLC and Schneider Electric SE. bit.ly/2x8FxCa
The Independent
– The Bank of England has reached an agreement with its striking workers over pay. Unite, the union representing the bank’s staff, said its members had voted to accept a revised offer. ind.pn/2x9nufi
– Britain’s economic model is “broken” and failing to generate rising prosperity for most of the UK population, according to a report by the IPPR’s Commission on Economic Justice. ind.pn/2x9xmFy
via http://ift.tt/2f2ILwh Tyler Durden