- Turkey’s Erdogan recounts night of coup, mulls death penalty (AP)
- Dissidents Silenced, GOP Convention Turns Attacks on Clinton (WSJ)
- U.S. police deaths build momentum for law to treat attacks as hate crimes (Reuters)
- Police across US patrolling in pairs after ambush attacks (AP)
- UK will not invoke EU Article 50 this year, government lawyer says (Reuters)
- EU State-Aid Rules for Banks in Crisis Backed by Top Court (BBG)
- Islamic State flag found in room of German train attacker (Reuters)
- Fed Officials Gain Confidence They Can Raise Rates This Year (WSJ)
- Document Shows Less Limits on Iran Nuke Work (AP)
- Daimler, DAF, Others Fined Record $3.2 Billion for European Truck Cartel (Handesblatt)
- In some U.S. cities, police push back against ‘open-carry’ gun laws (Reuters)
- ECB Fast Exhausting German Bonds for QE Buying as Yields Tumble (BBG)
- Startup Deal Activity Keeps Falling Worldwide (BBG)
- Turkey Central Bank Cuts Overnight Lending Rate to 8.75 Percent (BBG)
- Singapore Exchange Blames Faulty Disk for Market’s Trading Halt (BBG)
- Facebook to Pay Internet Stars for Live Video (WSJ)
- Dad’s Tape Could Jail Banker Son Accused of Offering Stock Tips (BBG)
- Russian Consumers Still in Shock as They Cut Back on Food and Medicine (BBG)
Overnight Media Digest
WSJ
– On the first night of Donald Trump’s convention, Republicans assailed Hillary Clinton for the 2012 attack on Benghazi, illegal immigration and recent killings of police officers – hours after hundreds of delegates shouting for a roll-call vote to disrupt his forthcoming nomination and one state delegation walked off the floor. http://on.wsj.com/2a52bOQ
– A core of alleged coup plotters were charged on Monday as Turkish President Recep Tayyip Erdogan threatened judicial vengeance against them. http://on.wsj.com/2a50RLF
– French music-streaming service Deezer is launching to the masses in the U.S. this week, stiffening the competition in an already-crowded market. http://on.wsj.com/2a517u4
– Federal authorities are investigating Fiat Chrysler Automobiles NV over whether it committed fraud by allegedly faking new-car sales to pad its monthly business results, the company confirmed Monday. http://on.wsj.com/2a50zV9
– A $1 billion civil lawsuit against Carlyle Group LP officials over a failed mortgage-bond fund shows how the troubled days of 2007 and 2008 continue to reverberate. http://on.wsj.com/2a50PmY
– Bank of America Corp said it would deliver another $5 billion in annual cost cuts by 2018 as part of its strategy to deal with persistently low interest rates that are eating away at lenders’ profitability. http://on.wsj.com/2a50MI4
FT
*Japan’s SoftBank has agreed to acquire the British smartphone chip designer Arm Holdings for £24.3 billion ($32.22 billion). SoftBank said that it will pay £17 ($22.54) in cash for each share in Arm.
*Wells Fargo has struck a £300 million ($397.80 million) deal to buy a new European headquarters in London, in one of the largest property deals in the city to be sealed since the June 23 referendum.
*The European Investment Bank has agreed to lend £21 million ($27.85 million) to a high-speed broadband project in the UK, its first investment in the country since the June 23 referendum.
*Millions of daily payments have been blocked by a technical outage at Worldpay that has lasted more than two weeks and left many customers unable to receive cash from gambling operators and e-commerce sites
NYT
– Netflix said that its subscriber growth for streaming video service had slowed significantly during the second quarter. It added that there were far fewer subscribers over all during the period than expected and blamed it on news media coverage of its plans for price increases. http://nyti.ms/2a52gSy
– Yahoo said that its revenue in the second quarter fell 15 percent and also acknowledged that Tumblr – its biggest acquisition under its CEO, Marissa Mayer – was now worth only one-third of the $1.1 billion that Yahoo paid for it in 2013. http://nyti.ms/2a7DNvn
– Fiat Chrysler Automobiles is being investigated by the Securities and Exchange Commission, which is asking whether the automaker has improperly inflated its monthly vehicle sales totals. The company said it was cooperating with the inquiry. http://nyti.ms/29JM4nN
– Utah Department of Health reported the diagnosis of a new case of the Zika virus that did not appear to have been contracted through either of the known sources of transmission: a mosquito bite or sexual contact. The patient, who has fully recovered, was a “family contact” who helped care for an older man who was infected with the virus after traveling abroad. http://nyti.ms/29PapcG
Canada
THE GLOBE AND MAIL
** The Canadian Nuclear Safety Commission is investigating allegations contained in an anonymous letter claiming to be written by specialists at the nuclear regulator that says information has been withheld from commissioners while making critical decisions about the licensing of the country’s nuclear plants. (http://bit.ly/29ITmM8)
** At least 80,000 public servants have had trouble getting the compensation they are owed because of major problems in the government’s new pay system, Phoenix, and it will be months before all of the issues are resolved. (http://bit.ly/29ISnM5)
NATIONAL POST
** Two Canadian securities regulators are holding a joint-hearing Wednesday to consider whether Vancouver-based junior miner Dolly Varden Silver Corp can proceed with a private placement of shares that would thwart a hostile takeover launched by Hecla Mining Co. (http://bit.ly/29ITeMO)
** Jean Coutu Group Inc, one of the country’s largest pharmacy chains, is facing a class action suit filed by a group of franchisees in Quebec seeking to recover C$252 million ($193.8 million) in royalties. (http://bit.ly/29ITtaS)
Britain
The Guardian
ARM Holdings to be sold to Japan’s SoftBank for 24 bln stg
ARM Holdings Plc has agreed to be sold to Japan’s SoftBank Group Corp for 24.3 billion pounds, in a deal that will see Britain’s most successful technology company transferred to foreign ownership to capitalise on the growth of “the internet of things”. (http://bit.ly/29OyjUD)
Need for interest rate cut called into question by Bank of England expert
Doubts about the need for a cut in interest rates have been voiced by a member of the Bank of England’s monetary policy committee before next month’s meeting. Martin Weale, who will be stepping down from the MPC after six years, said he wanted to weigh up the impact of Brexit on the economy before making up his mind on how to vote. (http://bit.ly/29Pp1rh)
The Telegraph
Hyperoptic wins EU loan after Brexit leaves bigger 100 mln stg deal ‘at risk’
Broadband builder Hyperoptic has won a 21 million pound loan from the European Investment Bank just days after another UK start-up complained that Brexit had caused its deal with the lender to fall through. (http://bit.ly/2abJk71)
Rolls-Royce enters new market with contract to design cruise ship
Rolls-Royce Holdings Plc’s troubled marine unit landed a 25 million pound deal to design a new generation of environmentally friendly cruise ships. The two vessels for Norwegian operator Hurtigruten will be capable of sailing in the polar regions, and as well as the innovative design, Rolls-Royce will also supply equipment to the ships. (http://bit.ly/2aoMG2U)
Sky News
Arcadia ‘May Object’ To New BHS Administrator
Philip Green’s Arcadia Group is considering an attempt to block the use of a second administrator to the stricken high street chain BHS because it would not be a productive use of creditors’ funds. Arcadia has been contemplating raising a formal objection at a public court hearing on Friday to approve the appointment of FRP Advisory. (http://bit.ly/29QFSN3)
The Independent
U.S. bank Wells Fargo buys London office despite Brexit fears
Wells Fargo & Co, the third largest bank in the U.S. by assets, has agreed to buy an office in the City of London. The move is one of the largest UK real estate deals since UK voters chose to leave the EU on June 23. (http://ind.pn/29PA6Je)
via http://ift.tt/2a5GqhF Tyler Durden