- Oil bounce, results keep stocks on high (Reuters)
- Healthcare brawl returns to Senate floor (Reuters); Senate Sets Up Health Votes for Chaotic Obamacare Debate (BBG); Health Debate Rolls On After First Option Fails (WSJ)
- Who Will Blink First in the Sessions Standoff? (BBG)
- Iran Says ‘Hostile’ U.S. Sanctions Vote Undermines Nuclear Deal (BBG)
- Russia Warns of ‘Painful’ Response If Trump Backs U.S. Sanctions (BBG)
- In Ohio, a struggle for the soul of the Democratic Party is playing out (Reuters)
- EU launches proceedings against Poland over judicial reform (DW)
- How to Build a Business Empire by Drinking, Gambling and Napping (BBG)
- Executive Pay Falls for Big Mall Owners as Retail Storm Rages On (WSJ)
- Swedish government under threat, opposition seeks ministers’ ouster over data contract (Reuters)
- Britain will ban new petrol and diesel cars from 2040: minister (Reuters)
- Venezuelans Prepare for the Worst Days Before Maduro Tightens His Grip on Power (BBG)
- Investors to Big Oil: Restrain Yourselves (WSJ)
- Bankers Ditch Fat Salaries to Chase Digital Currency Riches (BBG)
- How Jony Ive Masterminded Apple’s New Headquarters (WSJ)
- U.S. energy secretary duped into fake interview with Russian comedians (Reuters)
- To See the Future of Renting, Watch the College Kids (BBG)
- A School’s Dilemma: How to Spend Its Snap IPO Millions (WSJ)
- Sluggish UK economy inches forward, Bank of England unlikely to act (Reuters)
- Blue Apron COO Matthew Wadiak steps down in post-IPO shakeup (TC)
- Trump Is Selling Out the Midwest, Biofuel Industry Says (BBG)
- Americans Are Cutting a Shorter and Cheaper Path to Decent Pay (BBG)
Overnight Media Digest
WSJ
– Senate Republicans overcame a range of internal fissures in voting to begin debate on their healthcare overhaul, but the party suffered a setback hours later when a proposal replacing major portions of the Affordable Care Act failed to attract enough votes to pass. on.wsj.com/2uA4AtU
– SoftBank Group is angling for a piece of Uber Technologies, a move that would further the grand ambitions of SoftBank’s charismatic founder and muddy the mix of alliances in the global ride-hailing business. on.wsj.com/2uzKEXS
– U.S. President Donald Trump is signaling his next priority: overhauling the tax code to push corporate rates down and give middle-class taxpayers a break, even if it means some of the wealthiest pay more. on.wsj.com/2uzxRoA
– U.S. President Donald Trump expressed his disappointment in Attorney General Jeff Sessions in an interview — but declined to say whether he planned to fire him. on.wsj.com/2uA3CO7
– Apple Inc Chief Executive Tim Cook has committed to build three big manufacturing plants in the United States, President Donald Trump said, a surprising statement that would help fulfill his goal of reviving manufacturing. on.wsj.com/2uzD1ka
– A former Fox News executive who left the company after being accused of sexual assault and harassment by an on-air contributor has sued the channel’s parent, Twenty-First Century Fox, alleging fraud and breach of contract. on.wsj.com/2uVD0K0
FT
Michael Gove will herald the end of the internal combustion engine in Britain within a generation as he announces plans to ban the sale of new petrol and diesel cars by 2040.
Nasdaq Inc has agreed to buy a London-based software company that uses artificial intelligence to sniff out rogue traders, as the US group seeks to acquire cutting edge technology under its new chief executive.
Metro Bank Plc has accelerated plans to raise 278 million pounds of equity capital to fuel its growth by launching a share placement on Tuesday night.
Amazon.com Inc will double the size of its research and development team in London by hiring an additional 450 staff as part of a plan to boost its UK workforce to 24,000 this year.
NYT
– Oliver Schmidt, a Volkswagen executive accused of helping to cover up the automaker’s diesel emissions fraud has agreed to plead guilty in federal court next week, a development that could bolster the Justice Department’s efforts to prosecute individuals involved in the scandal. nyti.ms/2v6Fh5L
– Former Fox News vice president Francisco Cortes sued Twenty-First Century Fox on Tuesday accusing the company of making him a scapegoat in an effort to battle negative publicity about sexual misconduct. nyti.ms/2vHljeZ
– The Securities and Exchange Commission said on Tuesday that it had concluded after an internal investigation that at least some virtual currencies being sold to investors should be categorized as securities and needed to follow federal securities laws. nyti.ms/2h1tDCU
– Activist hedge fund Starboard Value sued big media measurement company Comscore on Tuesday, seeking to force the company to schedule an annual meeting for the first time in two years. nyti.ms/2vHmV8r
Canada
The Globe and Mail
** Malaysian oil company Petronas has cancelled plans for an C$11.4 billion ($9.12 billion) liquefied natural gas terminal on the British Columbia coast, dealing a major blow to Canada’s hopes of becoming a global LNG supplier. tgam.ca/2uAqqgO
** Canadian National Railway Co posted a 20 percent rise in second-quarter profit, but warned that the stronger loonie poses a headwind for the rest of the year. Montreal-based company beat analyst expectations in a quarter that saw many freight categories post double-digit gains. tgam.ca/2uAD6UH
** British Columbia Premier John Horgan offered no assurance on Tuesday that his government will issue permits that Kinder Morgan Canada Ltd needs to commence construction of the Trans Mountain pipeline expansion in September, despite federal approval for the C$7.4 billion ($5.92 billion) project that Alberta Premier Rachel Notley considers critical to her province’s economic well-being. tgam.ca/2uAzfqK
National Post
** Home Capital Group, the Toronto-based alternative mortgage lender, says it has repaid a C$2 billion ($1.60 billion) line of credit from Berkshire Hathaway Inc . bit.ly/2uWnZaQ
** SNC-Lavalin Group Inc is eyeing tuck-in acquisitions to “turbo charge” its capabilities in artificial intelligence following the closing of its C$3.6 billion ($2.88 billion) deal for WS Atkins, the company’s chief executive says.
Britain
The Times
Factories are increasing production at the fastest rate in 22 years, according to a CBI survey that suggests manufacturing may provide a boost for the economy as the dominant services sector begins to slow. bit.ly/2vYQlOy
Metro Bank Plc has warned that it will take two years longer than expected to hit its financial targets as it announced a surprise 278 million pound ($362.15 million) capital-raising amid growing speculation about a gap in its finances. bit.ly/2v6j6we
The Guardian
Victims of the ground rents scandal are demanding ministers go further in tackling unfair abuses of the leasehold system, amid claims that as many as 100,000 existing homeowners remain trapped in properties that are “unsellable”. bit.ly/2uutfS1
Noel Edmonds has increased his compensation claim against Lloyds Banking Group Plc to 300 million pounds after he fell victim to fraud at the hands of former HBOS Reading staff. bit.ly/2vYjeum
The Telegraph
The Guardian has developed plans to erect a paywall around its website and apps if its existing membership scheme and appeals for donations do not meet financial targets amid upheaval in the news market. bit.ly/2uVk661
Britain’s car industry has been given a “vote of confidence” by BMW AG, the government said after the German automotive firm announced it will build an all-electric version of the Mini in the United Kingdom. bit.ly/2h0ODJY
Sky News
Private equity groups Clayton Dubilier & Rice and Bain Capital have joined forces to assemble a knockout takeover bid for the 6 billion pounds Unilever Plc division which houses the Flora margarine brand. bit.ly/2h1ul2O
Virgin Money Holdings Plc Chief Executive Officer Jayne-Anne Gadhia has used a post-results slide in its stock market valuation to acquire about 100,000 pounds-worth of the company’s shares. bit.ly/2h1FgJV
The Independent
Amazon.com Inc plans to expand the number of people it employs in research and development across London – a powerful endorsement of the capital’s booming tech sector despite the economy being steeped in uncertainty ahead of Britain’s departure from the European Union. ind.pn/2v31X6Z
via http://ift.tt/2uWNclr Tyler Durden