- Global shares snap losing streak as oil ends its decline (Reuters)
- Trump returns to hardline position on illegal immigration (Reuters)
- U.S., others agreed to ‘secret’ exemptions for Iran after nuclear deal (Reuters)
- China’s Factory Gauge Unexpectedly Rises to Highest Since 2014 (BBG)
- Weak Pound Drives U.K. Factories Back From Brexit Shock (BBG)
- Elon Musk Faces Cash Squeeze at Tesla, SolarCity (WSJ)
- Cash Keeps Pouring Out of European Stocks (WSJ)
- Gross Calls for Two Fed Hikes at Double the Pace Seen by Market (BBG)
- Yellen Speech Contained Clue to Reading the August Jobs Report (BBG)
- Deutsche Bank Weighs Stronger Medicine (WSJ)
- Apple Squeezes Parts Suppliers to Protect Margins (WSJ)
- Hanjin Ships Get Stranded in High Seas, Roiling Supply Chain (BBG)
- Australia must choose between United States and China: U.S. Army official (Reuters)
- Andreessen Horowitz’s Returns Trail Venture-Capital Elite (WSJ)
- Why Luck Plays a Big Role in Making You Rich (BBG)
- After Initial Drop, Fresh Surge in Migrant Arrivals Puts Extra Strain on Greece (WSJ)
- Puerto Rico Oversight Panel Named to Halt Island Debt Crisis (BBG)
- Musk Talked Merger With SolarCity CEO Before Sale of Stock (BBG)
- Hollywood’s Summertime Bombs Got a Lot More Disastrous This Year (BBG)
- Salesforce Revenue Forecast Falls Short on Cloud Competition (BBG)
Overnight Media Digest
WSJ
– Donald Trump, hours after seeming to ease on his immigration and trade policy while standing with Mexico’s president, told a crowd that all illegal immigrants are “subject to deportation” and that all those seeking legalization will have to go home and re-enter the country legally. on.wsj.com/2bDwTQ6
– Dilma Rousseff, a former leftist guerrilla who defied a dictatorship but struggled as Brazil’s president, was removed from office Wednesday following an impeachment trial she condemned as a coup. on.wsj.com/2bReJIw
– Price spikes for drugs like EpiPen and Daraprim reflect a lack of competition, which can be curbed by allowing generic drugs approved abroad to be sold in the United States. on.wsj.com/2c8Q0Qn
– A divided Supreme Court on Wednesday rejected an emergency appeal by North Carolina seeking to revive stricter state voting rules, which reduced the number of days for early voting and required photo identification at the polls. on.wsj.com/2c9kaD0
– Tesla Motors Inc, which makes electric cars, disclosed in a securities filing Wednesday that it has to pay $422 million to its bondholders in the third quarter, and that it will raise additional money by the end of the year. The purpose of the additional capital, among other things, is to support its proposed merger with home-solar company SolarCity Corp. Musk is the chairman of both companies. on.wsj.com/2bE2ZLH
– Amid the chaos of Syria’s war, the Kurds have carved out a semiautonomous region called Rojava that is home to about four million people, is as big as Belgium and stretches nearly the full length of the 565-mile border between Syria and Turkey. on.wsj.com/2bCHTwZ
– Money has flowed out of European equity funds every week for more than six months, a stretch that is now longer than the previous record set during the financial crisis. on.wsj.com/2cgq20q
FT
– British Medical Association’s governing council and dispute committee approved a full walkout of junior doctors from 8 a.m. to 5 p.m. for five days starting Sept. 12. The doctors will stage a new set of strikes with “full withdrawal of labour” unless the government backs down on plans to impose a contentious new contract and returns to the negotiating table.
– EDF’s five board members are petitioning to have the court declare invalid last month’s board decision to move forward with the Hinkley Point power project in the UK.
– British Airways’ business-only flights to New York’s JFK airport from London City will halve by Oct. 30 as demand for all-business flights drop.
– Nets Holding, Scandinavia’s biggest payment processor, is set to announce IPO plans as soon as Thursday that could value it as much as $5.2 billion.
NYT
– John Cryan, the chief executive of Deutsche Bank , urged for more consolidation in the banking industry in Germany and across Europe. He said the monetary policy was eating into profits of banks even though the ECB intervened after the financial crisis. http://nyti.ms/2bDwvTd
– Brazil’s first female president, Dilma Rousseff, was impeached by the Senate on Wednesday and was effectively removed from her office for the remaining of her term. http://nyti.ms/2bDuSoG
– U.S president Barack Obama left for a trans-Pacific voyage on Wednesday, marking his 10th trip to Asia as president. He hopes to announce further progress with China on climate change. http://nyti.ms/2bDuK8J
– Donald J. Trump made an audacious attempt on Wednesday to remake his image on the issue of immigration, announcing his plan to deport 11 million undocumented people and arguing that a Trump administration and Mexico would secure the border together. http://nyti.ms/2bDtLpa
– Canada said it had applied to join China’s version of the World Bank. The move came during a trip to China by the prime minister of Canada, Justin Trudeau. http://nyti.ms/2bDw4bO
– On Wednesday, UK Prime Minister Theresa May called cabinet ministers to a brainstorm about Brexit, promising to examine “the next steps” for Britain. http://nyti.ms/2bDx6V0
Britain
The Times
** Record low interest rates, falling consumer prices and high employment levels have caused the largest collapse on record in Britain’s saving habits, according to a GfK report. http://bit.ly/2bD1iLn
** BHP Billiton is set to strip its chief executive of his annual bonus after the publication of a hard-hitting report into failures at the mining group’s Brazilian joint venture that led to the fatal collapse of a dam. http://bit.ly/2bD1ieh
The Guardian
** Proposals by Chris Philp, a Tory member of Parliament, to rein in executive pay by allowing remuneration packages to be vetted by shareholder committees have won the backing of Britain’s most influential fund manager, Neil Woodford. http://bit.ly/2bD0juo
** The combined deficit of the UK’s 6,000 defined benefit pension funds has grown by 100 billion pounds ($131.35 billion) in the last month, bringing the total deficit to 710 billion pounds ($932.59 billion), according to a new report. http://bit.ly/2bD0XYN
The Telegraph
** Netflix Inc is to produce its first British children’s programmes, as entertaining kids becomes a key battlefield in the intensifying pay-TV war with Amazon and Sky. http://bit.ly/2bD082r
**Warren East, chief executive of Rolls Royce Holdings , warned that unless industry can make a decent return on military contracts, it will abandon them – with serious implications for the country’s military industry. http://bit.ly/2bD0K7T
Sky News
** Theresa May has ordered her senior ministers to make a success of Brexit. She has insisted there will be no second referendum or attempts to remain in the EU by the back door. http://bit.ly/2bD1vOt
** Jet2.com says it is to create almost 1,000 new jobs in the next phase of its expansion. The budget airline said it wants to recruit 180 pilots, 700 cabin crew and 80 engineers and will be staging a number of roadshows for people interested over the coming weeks. http://bit.ly/2bD1PwJ
The Independent
** Extra Energy has attracted the highest number of customer complaints among energy companies for a second consecutive quarter, performing 80 times worse than the best-performing supplier, figures show. http://ind.pn/2bD42rY
via http://ift.tt/2c76sle Tyler Durden