- Snipers kill five Dallas police; Obama calls it ‘despicable’ attack (Reuters)
- Global stocks regain ground, Treasury near record low as U.S. jobs data looms (Reuters)
- House Republicans Push for New Hillary Clinton Investigation (WSJ)
- Obama urges NATO to stand firm against Russia despite Brexit (Reuters)
- Kremlin says NATO talk of Russian threat absurd, short-sighted (Reuters)
- South Korea, U.S. to deploy THAAD missile defense, drawing China rebuke (Reuters)
- Oil products fill storage tanks and cast doubt over crude demand (Reuters)
- Underwater Oil-Well Bolts Are Failing, Causing Alarm (WSJ)
- Italy State Intervention on Banks May Be Needed, Visco Says (BBG)
- China said to consider aid package for struggling state firms (BBG)
- Post-Brexit U.K. Spawns M&A Bargain Hunters, Pound Evacuees (BBG)
- Why Banks Aren’t Giving You a 3%, 30-Year Mortgage…Yet (WSJ)
- Theranos CEO Holmes Banned From Operating a Lab for 2 Years (BBG)
- Turkey’s Erdogan calls on NATO to do more on fighting militant attacks (Reuters)
- U.K. Consumer Sentiment Dives Most Since 1994 on Brexit Effect (BBG)
- U.S. legislators criticize China’s rights lawyer crackdown (Reuters)
- Airbus Is Running Out of Buyers for Its Enormous A380s (BBG)
- Super typhoon Nepartak hits Taiwan, disrupts power supply, transport (Reuters)
- North Korea Calls U.S. Sanctions on Kim a ‘Declaration of War’ (BBG)
- Brexit Turmoil Seen Spurring Race for Office Space in Europe (BBG)
Overnight Media Digest
WSJ
– Eleven police officers were shot by two snipers in Dallas Thursday night during a protest over police brutality, leaving three officers dead and seven wounded and throwing the city into chaos. http://on.wsj.com/29rl1Q3
– Legislation to make the bankruptcy of a big bank more feasible is gaining steam, which could help large U.S. financial firms counter criticism that they remain “too big to fail.” http://on.wsj.com/29mzB9E
– House Republicans said they would ask for a new FBI probe into Hillary Clinton’s handling of classified information, this one focused on whether she lied to Congress about her handling of classified information, raising the likelihood the controversy over her private email system will continue through the fall elections. http://on.wsj.com/29omDaU
– Government bond yields have plummeted this week, but mortgage rates haven’t fallen so fast. For now, that should bolster bank profits from making mortgages. http://on.wsj.com/29S7dwO
FT
– GfK prepared a special consumer confidence barometer which showed that for the period June 30 to July 5, the core consumer index fell 8 points to minus 9, with all key measures which were used to calculate falling.
– FBI Director James Comey defended his decision of not recommending prosecution of Hillary Clinton for mishandling secret information on her private email server.
– Biotech company Juno’s shares fell by 28 percent in after-hours trading as it said three patients receiving the experimental cancer treatment had died. The U.S. FDA asked Juno to suspend the trial.
– German chancellor Angela Merkel blamed Russia for undermining European security. This comes just before the Friday NATO summit where the country leaders would meet.
Britain
The Times
Sales of clothing and homewares at Marks & Spencer have plunged in the first quarter of the year. The retailer has recorded an 8.9 percent fall in like-for-like sales during the first quarter. This is the biggest fall since the first quarter of 2005/6 when clothing and home sales fell by 11.2 per cent. (http://bit.ly/29xunt0)
Sterling plunged by more than three cents at one point to hit a low of $1.2798 as investors were rattled by the absence of political leadership in Britain, the growing expectation of a recession and the spectre of an imminent base rate cut. (http://bit.ly/29xuDYU)
The Guardian
With the pound under pressure on the foreign exchange markets, fund managers Legal & General, Foreign & Colonial and Dutch-owned Kames cut the value of their property funds on Thursday. L&G cut by 10 percent while F&C and Kanes both cut by 5 percent. (http://bit.ly/29xvN6R)
Four former Barclays bankers have been sentenced to between 33 months and six-and-a-half years in jail for conspiring to fraudulently rig global benchmark interest rates. (http://bit.ly/29xw3T7)
The Telegraph
British Business Secretary Sajid Javid begins a round-the-world tour of Britain’s key trading partners today, as he flies to India with a view to forging new links across the globe after the EU referendum. (http://bit.ly/29shTVB)
UK energy prices climbed to near nine-month highs in the aftermath of the EU referendum as the market began to anticipate winter blackouts. Market experts at ICIS said the price of gas climbed 29 percent over the second quarter while wholesale electricity prices rose 25 percent. (http://bit.ly/29uoRIu)
Sky News
Amazon has announced it is creating 1,000 new jobs across the UK as the company continues to grow its ultra-fast delivery service, Prime Now. Prime now serves more than 30% of the population. (http://bit.ly/29xwVak)
Levels of consumer confidence in Britain have fallen at the fastest rate in more than two decades. The confidence barometer from research group GfK dropped from -1 points to -9 between June and the week following the poll. (http://bit.ly/29xxMb3)
The Independent
Christine Lagarde, the head of the International Monetary Fund, has urged the UK government to make a quick withdrawal from the European Union in order to reduce economic uncertainty. (http://ind.pn/29xxKjw)
Britain’s GDP grew by 0.6 percent in the second quarter of 2016 in the run-up to the Brexit referendum, according to the latest regular forecast from the National Institute of Economic and Social Research (NIESR). (http://ind.pn/29xyq8r)
via http://ift.tt/29UsqpB Tyler Durden