- Treasuries Extend Drop in August on Fed Outlook as Dollar Gains (BBG)
- Oil slips on dollar strength, still set for monthly gain (Reuters)
- Trump to make dramatic trip to Mexico before immigration speech (Reuters)
- Rep. Debbie Wasserman Schultz Beats Back Florida Primary Challenge (WSJ)
- Ban cash because… SWIFT discloses more cyber thefts, pressures banks on security (Reuters)
- Fed’s Evans, citing slow growth, says low U.S. rates are here to stay (Reuters)
- Google Takes on Uber With New Ride-Share Service (WSJ)
- Key Islamic State leader killed in apparent U.S. strike in Syria (Reuters)
- Trump’s Top Fundraiser Eyes the Deal of a Lifetime (BBG)
- U.S. Farm Incomes to Hit Lowest Level Since 2009 (WSJ)
- Google Takes on Uber With New Ride-Share Service (WSJ)
- After Initial Drop, Fresh Surge in Migrant Arrivals Puts Extra Strain on Greece (WSJ)
- Italy rescues 3,000 migrants from Mediterranean as arrivals surge (Reuters)
- World’s Top Performing Fund Is Running Out of Good Stocks to Buy (BBG)
- Theranos Halts New Zika Test After FDA Inspection (Theranos)
- Storm bears down on Florida, hurricane threatens Hawaii (Reuters)
- Mondelez Shifts From Hunter to Hunted After Hershey Deal Dies (BBG)
- Hong Kong yuan deposits fall to the lowest since 2013 (Reuters)
Overnight Media Digest
WSJ
– Donald Trump is planning a quick trip Wednesday to Mexico to meet with President Enrique Pena Nieto, shortly before the Republican presidential nominee is slated to give a speech on immigration in Phoenix. http://on.wsj.com/2bZdJFj
– Google is moving onto Uber Technologies Inc’s turf with a ride-sharing service to help San Francisco commuters join carpools, a person familiar with the matter said, jumping into a booming but fiercely competitive market. http://on.wsj.com/2bzJrcN
– Rep. Debbie Wasserman Schultz, the Florida Democrat who was pressured into giving up her post as chair of the national party on the eve of its presidential convention, survived a high-profile primary challenge for her House seat Tuesday. http://on.wsj.com/2bAl3rA
– Theranos Inc withdrew its request for emergency clearance of a Zika-virus blood test after federal regulators found that the company didn’t include proper patient safeguards in a study of the new test, said people familiar with the matter. http://on.wsj.com/2c33MFf
– The European Union’s antitrust regulator has demanded that Ireland recoup roughly 13 billion euros ($14.51 billion) of unpaid taxes accumulated over more than a decade by Apple Inc , a move that intensifies a feud between the EU and the U.S. over the bloc’s tax probes into American companies. http://on.wsj.com/2bBAZFL
– Forterra Systems Inc, a California startup focused on virtual reality, was in need of money and its products didn’t have much commercial appeal. Then funds came in from a source based far from Silicon Valley: In-Q-Tel Inc, a venture-capital firm in Virginia funded by the Central Intelligence Agency. http://on.wsj.com/2c9nvSY
– The European Commission’s ruling Tuesday that Apple Inc must pay $14.5 billion in back taxes to Ireland marked a sharp break with the U.S. Treasury Department and further complicates efforts to forge a bipartisan deal on U.S. tax policy that had seemed plausible but remains out of reach. http://on.wsj.com/2bzSxF5
– A gauge of U.S. consumer confidence rose to the highest level in nearly a year in August, suggesting that household spending will remain a key support for the economy. The Conference Board’s consumer-confidence index climbed to 101.1 in August from 96.7 in July, the group said Tuesday. http://on.wsj.com/2bzfWTw
– Dell Inc Tuesday said it received regulatory clearance from China and intends to complete its merger with EMC Corp on Sept. 7. The $60 billion deal will be the largest technology merger ever. http://on.wsj.com/2bR7GlD
FT
*The European Commission ordered Ireland to collect a tax bill of 13 billion euros ($14.49 billion) from Apple after finding that the U.S. company enjoyed a quarter of a century of illegal state support.
*France has urged the European Commission to end talks on a transatlantic trade deal, amid mounting frustration over the United States’ demands and growing popular disenchantment with free trade.
* BHP Billiton’s CEO will not get a short-term incentive this year after an accident at a Brazilian mine which left 19 people dead.
*Berkeley Group will be replaced by gold miner Polymetal International in the FTSE 100 after negativity about the U.K. property market affected the home builder’s shares. FTSE is expected to confirm the changes on Wednesday
NYT
– Singapore’s Health Ministry said on Tuesday that it had confirmed 82 Zika cases, up from 56 the previous day. At least 36 of the infected people were foreign workers at a construction site in eastern Singapore. http://nyti.ms/2bAzH21
– The European Union on Tuesday ordered Ireland to collect $14.5 billion in unpaid taxes from Apple, a record penalty that worsened tensions with the United States over the bloc’s crackdown on sweetheart deals with global multinationals. http://nyti.ms/2bAALmy
– Donald J. Trump will be making a trip to Mexico on Wednesday to speak with President Enrique Peña Nieto, hours before he gives what he according to him is a “major speech” on immigration. http://nyti.ms/2bACDvq
– Alphabet Inc is launching a car-pooling program operated through Google’ navigation app called Waze. The pilot program is restricted to employees of companies near Google’s headquarters in Mountain View, California. http://nyti.ms/2bAF817
Britain
The Times
– Shareholders approved a 24 billion euro ($26.75 billion)takeover of Britain’s biggest technology company, Arm Holdings, by Japan’s SoftBank. http://bit.ly/2bYGLoJ
The Guardian
– Train operator Southern will restore more than 100 cancelled services next Monday, bringing some relief after a summer of misery for passengers. The operator, owned by Govia Thameslink Railway, said 119 services, more than a third of the 341 cancelled in July, would be reinstated. http://bit.ly/2bYH2HZ
– France’s trade minister has increased the pressure on the proposed EU-U.S. trade deal by calling for the talks to be called off. Matthias Fekl, the French minister for foreign trade, tweeted that his government demanded that negotiations on the Transatlantic Trade and Investment Partnership should cease. http://bit.ly/2bYGCSg
The Telegraph
– – Investment in the UK boomed last year as firms from around the world backed a record 2,213 British projects, including infrastructure developments, manufacturing plants and life sciences projects. The number of foreign-backed projects increased 11 percent, creating 82,650 jobs. http://bit.ly/2bYHAO4
Sky News
– Co-op Group will announce this week the appointment of Rufus Olins to the new role of chief membership officer – a crucial element of a revival plan drawn up after a governance crisis in 2013 which cast a shadow over the entire movement’s future. http://bit.ly/2bYHeac
– U.S. technology giant Apple Inc has been ordered to pay up to 13 billion euros ($14.49 billion) in back taxes to Ireland after a European probe. Apple faces the record bill after the European Commission ruled that a special scheme to route profits through Ireland was illegal state aid. http://bit.ly/2bYHLcs
The Independent
– Downing Street has signalled it would “welcome any company” to the UK, just hours after an unprecedented EU tax-decision left a question mark over Apple’s future in Ireland. http://ind.pn/2bYHsyh
– Theresa May has ruled out a second referendum or a general election on the terms of Britain’s exit from the European Union. A spokesman for May said, “The Prime Minister is very clear there will be no second referendum.” http://ind.pn/2bYHmqd
via http://ift.tt/2bBAFq9 Tyler Durden