Responding to concerns of dementia symptoms – following her 'cock-eyed' appearance earlier in the week – Hillary Clinton has told a local reporter that "there's no need" for a brain scan claiming that she has met "the standards that every other person running for president has ever had to meet."

Hillary Clinton exhibited abnormal eye movements during her recent speech in Philadelphia and they were not photoshopped.

And while doctors were concerned, she is not. As The Sun reports, Hillary Clinton has ruled out taking a brain test during a TV interview about the elevated risk of dementia among older people. The under-fire Democrat said ‘there’s no need for that’ when she was being grilled about having a check by ABC anchor Sarina Fazan during an interview in Orlando. (starts at 3:30)

Clinton, 68, at first joked when asked if she would take ‘some neurocognitive test’ given the elevated risks for degenerative disease because of her age.

“I’m very sorry I got pneumonia,” laughed Clinton. “I’m very glad that antibiotics took care of it. And that’s behind us now.

 

“I’ve met the standard that everybody running for president has met in terms of releasing information about my health.”

 

When pressed by Fazan, who revealed her brother is a neurosurgeon who once operated on a member of her staff, Clinton stood fast.

 

“There’s no need for that. The information is very clear. And the information, as I said, meets the standards that every other person running for president has ever had to meet – and I’m happy that we’ve met and even exceeded them in certain ways,” she said.

We are sure "it's probably nothing" but we cannot wait to see how she copes with a 90 minute debate against a man who knows exactly how to push buttons to infuriate lifelong politicians.

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Hold your real assets outside of the banking system in one of many private international facilities  –>    http://ift.tt/2cyFwvQ;

 

Surprise, Surprise! The FED Decides to Keep Rates Steady

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A slew of disappointing data out of Canada has sent the Loonie tumbling this morning (despite higher oil prices).

Canadian Retail Sales and Inflation data missed across the board…

 

Multi-year lows in CPI, Core CPI, and Retail Sales…

 

And the result is a tumbling Loonie as expectations of further rate cuts loom…

 

Charts: Bloomberg

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Anyone who listened to Mark Maheney’s downgrade of TWTR – noted earlier – and either sold or shorted the company overnight, is having an especially unpleasant day, because moments ago CNBC’s David Faber reported that the company is moving closer to a sale.

As Faber writes, TWTR has received expressions of interest from several technology companies and may receive a formal bid shortly, sources said. The social media company is engaged in conversations with potential suitors that are said to include Google and Salesforce.com, among other technology companies, sources said.

Twitter’s board of directors is said to be largely desirous of a deal, according to people close to the situation, but no sale is imminent. There’s no assurance a deal will materialize, but one source close to the conversations said that they are picking up momentum and could result in a deal before year-end.

While there have been many such rumors in the past, for now the market is going with it, and the stock is now up some 17%.

And now we wonder if RBC’s tech guru Mark Mahaney, who overnight slammed TWTR as we noted before…

Our broad concerns remain: 1) It’s not clear when/if product/UI changes can stabilize or reaccelerate User & Usage. 2) Channel checks and our last 4 surveys (and particularly our most recent referenced above) don’t provide convincing evidence that a substantial number of advertisers will commit meaningful $s to TWTR. Twitter believes it can command premium ad pricing, but its dramatic ad revenue deceleration doesn’t support that. We have believed that Twitter’s lack of real-time commercial intent (a la Google) and detailed, authentic profiles (a la FB) will eventually limit growth. That said, we could become more positive on Twitter if it shows meaningful traction with advertisers. Note our $14 PT is based on 3x P/S on ’17E Sales and 10x EV/EBITDA on ’17E EBITDA.

… will revise his assessment, and perhaps even downgrade FaceBook due to far more credible concerns of ad rigging.

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Submitted by Darius Shahtahmasebi via TheAntiMedia.org,

When it comes to the two front-runners in the current presidential race, the media often attempts to paint Donald Trump as a crazy, unpredictable president who will lead us down a path of terror. However, the truth remains that despite Trump’s overall nonsensical rhetoric, he is the only leading candidate who has said anything sane regarding American foreign policy. Statements to the effect that the Middle East would have been safer with Saddam Hussein and Muammar Gaddafi still in power are probably the most profound things ever spoken by the wildly racist billionaire mogul.

Hillary Clinton, on the other hand, voted in favor of the Iraq war in 2003 and was instrumental in bringing about the fall of Muammar Gaddafi in Libya in 2011. She even laughed hysterically about the despot’s death in an interview despite the fact she single-handedly plunged the rich democracy that was Libya into an extremist war zone.

In the eyes of the Russian establishment, this is especially worrying given that it was Clinton who convinced Russia not to use their veto power at the United Nations Security Council level to stop the NATO onslaught of Libya; she promised the so-called “no-fly zone” would not be used to pursue regime change.

Russian President Vladimir Putin was very critical of NATO motives when it became clear that NATO forces had, indeed, designated Gaddafi a military target, asking the important and necessary question: “Who gave NATO the right to kill Gaddafi?” After Gaddafi was murdered on the streets of Sirte, Putin astutely stated:

“The whole world saw him being killed; all bloodied. Is that democracy? And who did it? Drones, including American ones, delivered a strike on his motorcade. Then commandos – who were not supposed to be there – brought in so-called opposition and militants and killed him without trial. I’m not saying that Gaddafi didn’t have to quit, but that should have been left up to the people of Libya to decide through the democratic process.”

Clearly, Russia was very disappointed that the so-called no-fly zone in Libya had been used to undermine the international legal process and overthrow the leader of a sovereign nation — something they could have prevented at the Security Council level with the use of their veto power had Hillary not convinced them otherwise. Clinton’s subsequent laughter at this flagrant violation of international law is a slap in the face to the Russian establishment that continues to advocate for a stronger working relationship with the United States and a return to classical international law. Russia, therefore, likely views Clinton not only as a mentally unstable candidate but one who could be the president to drown all other presidents in history by finally pulling the trigger on Russia.

According to Clinton Ehrlich, the sole Western researcher at the Russian Foreign Ministry’s Moscow State Institute of International Relations:

“Moscow perceives the former secretary of state as an existential threat. The Russian foreign-policy experts I consulted did not harbor even grudging respect for Clinton.”

Whereas Trump has paid the Russian president compliments and claimed he would work more closely with Russia, Clinton has continued her policy of beratement and hostility towards Putin. Just last month, she called him the “godfather of right-wing, extreme nationalism.” As Foreign Policy magazine pointed out, this was an attempt to insult Putin using his own words.

Clinton further derided Donald Trump’s praise of Putin as “unpatriotic” and “scary,”  claiming Trump’s attempted coziness with Putin could represent a threat to American national security. Apparently, America always needs Russia to remain an enemy. If this is the case, when exactly does the Cold War officially end? Under Clinton, it never will.

Russia’s distrust of Clinton runs further than merely televised mind-numbing entertainment. Russia is well aware of Clinton’s ambitions to turn Syria, one of Russia’s most strategic allies in the Middle East, into the next Libya. Putin has therefore been actively working to counter these endeavors through direct military intervention in Syria.

How far Clinton will go down this road is frighteningly unclear given that under the current president, the United States Air Force just shelled the Syrian army, which was engaged in a battle with ISIS at the time. The U.S. strike killed over 60 Syrian servicemen and wounded 100 more. If Obama, winner of the Nobel Peace Prize that he is, is essentially providing air cover for ISIS, what on earth will Hillary Clinton attempt in Syria?

Given Russia’s vested interest in ensuring the next president of the United States is not a potentially unstable career warmonger, there could be some truth behind claims of Russian interference in American politics.

If so, could you blame them for trying?

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Social media shares are not having a “like” time this morning, with both Facebook and Twitter under pressure, the former on a WSJ report that the company has been inflating the amount of time users spend watching video ads by 60-80%, the latter on an RCB downgrade to “underperform” with a $14 price target.

 

As the WSJ first reported, in what may be just the first cockroach surrounding the massively overhyped advertising platform “potential” of Facebook, which for years has been accused of abusing ad clickfarms to inflte its ad metrics, big ad buyers and marketers are upset with Facebook after learning the tech giant vastly overestimated average viewing time for video ads on its platform for two years.

Several weeks ago, Facebook disclosed in a post on its “Advertiser Help Center” that its metric for the average time users spent watching videos was artificially inflated because it was only factoring in video views of more than three seconds. For the past two years Facebook only counted video views of more than three seconds when calculating its “Average Duration of Video Viewed” metric. Video views of under three seconds were not factored in, thereby inflating the average. Facebook’s new metric, “Average Watch Time”, will reflect video views of any duration.

WSJ adds that ad buying agency Publicis Media was told by Facebook that the earlier counting method likely overestimated average time spent watching videos by between 60% and 80%. Publicis was responsible for purchasing roughly $77 billion in ads on behalf of marketers around the world in 2015, according to estimates from research firm RECMA. GroupM, the ad buying unit of WPP Plc, also was notified of the discrepancy by Facebook, another person familiar with the matter said.

“We recently discovered an error in the way we calculate one of our video metrics,” Facebook said in a statement. “This error has been fixed, it did not impact billing, and we have notified our partners both through our product dashboards and via sales and publisher outreach. We also renamed the metric to make it clearer what we measure. This metric is one of many our partners use to assess their video campaigns.”

According to WSJ, “the news is an embarrassment for Facebook, which has been touting the rapid growth of video consumption across its platform in recent years.” Furthermore, due to the miscalculated data, marketers may have misjudged the performance of video advertising they have purchased from Facebook over the past two years. It also may have impacted their decisions about how much to spend on Facebook video versus other video ad sellers such as Google’s YouTube, Twitter, and even TV networks.

While the “error” is indeed embarrassing, follow up attention will focus on whether it was in fact intentional: after all Facebook stood to gain massively, while both advertisers and honest competitors were harmed. It is therefore feasible that Facebook will see significant litigation following the matter, from both former clients and peers.

* * *

As for Twitter, the reason the stock is down in the pre-market is more mundane: RBC analyst Mark Mahaney said he is downgrading Twitter to “Underperform” with a $14 price target, as a result of “concerning advertiser survey data”.

He justified the downgrade by saying that “this change is based on our belief that Twitter’s value proposition to advertisers could be waning, based on our recent advertiser survey data. We note that we still believe Twitter is a unique asset with a strong value proposition to core users.”

It is ironic that this took place just as a far more serious decline in the “value proposition to advertisers” emerged for Facebook. One almost wonders if Facebook does not spend some of its “marketing” cash by “incentivizing” sellside analysts to write hit pieces at specific key stock inflection times, like today for example when anyone selling FB may have been buying TWTR, something today’s RBC downgrade has made far less likely.

This is what else Mahaney said:

Our broad concerns remain: 1) It’s not clear when/if product/UI changes can stabilize or reaccelerate User & Usage. 2) Channel checks and our last 4 surveys (and particularly our most recent referenced above) don’t provide convincing evidence that a substantial number of advertisers will commit meaningful $s to TWTR. Twitter believes it can command premium ad pricing, but its dramatic ad revenue deceleration doesn’t support that. We have believed that Twitter’s lack of real-time commercial intent (a la Google) and detailed, authentic profiles (a la FB) will eventually limit growth. That said, we could become more positive on Twitter if it shows meaningful traction with advertisers. Note our $14 PT is based on 3x P/S on ’17E Sales and 10x EV/EBITDA on ’17E EBITDA.

While we would ignore the RBC hit piece on Reuters, the combination of these two reports suggests that not all is well with ad spending, and this otherwise relentless cashflow engine, which propelled social media and tech companies such as GOOG and FB to historic highs, may be finally starting to sputter.

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Submitted by Charles Hugh-Smith via OfTwoMinds blog,

If it isn't a Depression, it's a very close relative of a Depression.

Just for the sake of argument, let's ask: what if we're in a Depression but don't know it? How could we possibly be in a Depression and not know it, you ask? Well, there are several ways we could be in a Depression and not know it:

1. The official statistics for "growth" (GDP), inflation, unemployment, and household income/ wealth have been engineered to mask the reality

2. The top 5% of households that dominate government, Corporate America, finance, the Deep State and the media have been doing extraordinarily well during the past eight years of stock market bubble (oops, I mean boom) and "recovery," and so they report that the economy is doing splendidly because they've done splendidly.

I have explained exactly how official metrics are engineered to reflect a rosy picture that is far from reality.:

What's the Real Unemployment Rate? That's the Wrong Question September 14, 2016

Fun with Fake Statistics: The 5% "Increase" in Median Household Income Is Pure Illusion September 19, 2016

Here's Why Wages Have Stagnated–and Will Continue to Stagnate August 15, 2016

Could Inflation Break the Back of the Status Quo? August 5, 2016

What Happens When Rampant Asset Inflation Ends? August 4, 2016

Revealing the Real Rate of Inflation Would Crash the System August 3, 2016

Inflation Hidden in Plain Sight

I also also asked a series of questions that sought experiential evidence rather than easily gamed statistics for the notion that this "recovery" is more like a recession or Depression than an actual expansion:

If Everything Is So Great, How Come I’m Not Doing So Great? September 12, 2016

Rather than accept official assurances that we're in the eighth year of a "recovery," let's look at a few charts and reach our own conclusion. Let's start with the civilian labor force participation rate–the percentage of the civilian work force that is employed (realizing that many of the jobs are low-paying gigs or part-time work).

Does the participation rate today look anything like the dot-com boom that actually raised almost everyone's boat at least a bit? Short answer: No., it doesn't. Today's labor force participation rate is a complete catastrophe that can only be described by one word: Depression.

Wages as a percentage of GDP has been in a 45-year freefall that can only be described as Depression for wage earners:

Notice what happened when the Federal Reserve started blowing serial asset bubbles in 2000: GDP went up but wages went down. Is this a recession or depression? It's your call, but if you're the recipient of the stagnating wages, it's depressing.

Meanwhile, the top 5% who own most of the assets that have been bubbling higher have been doing great. The Depression is only a phenomenon of the bottom 95%:

Look at the rocket ship of corporate profits. What happened around 2001 to send corporate profits on a rocket ride higher? The Fed happened, that's what:

Here's the Fed balance sheet: to the moon!

Free money for financiers and corporations fueled the stock market buyback boom:

Which fueled the stock market bubble:

Is the economy in a Depression? Not if you're a corporate bigwig skimming vast gains from corporate buybacks funded by the Fed's free money for financiers.

But if you're a wage earner who's seen your pay, hours and benefits cut while your healthcare costs have skyrocketed–well, if it isn't a Depression, it's a very close relative of a Depression.

*  *  *

Recent interviews:

The Entire Economic System Is One Big Illusion (X22 Report) (37:41 min)

Optimizing Bad Policy Guaranteed to Fail (Financial Sense Newshour podcast) (24:35 min)

Stick it to the Establishment by becoming a $1/month patron of this wild and crazy site via patreon.com.

My new book is #6 on Kindle short reads -> politics and social science: Why Our Status Quo Failed and Is Beyond Reform ($3.95 Kindle ebook, $8.95 print edition) For more, please visit the book's website.

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After oil spiked earlier on an anonymously-sourced Reuters “report” that Saudi Arabia has offered to cut production in exchange for an Iran production freeze, a proposal which was promptly shut down by third party observes, moments ago WSJ reporter Summari Said effectively killed this particular attempt to spike the price of oil when she reported – also citing sources – that Saudis and Iranians have clshed over output freeze levels, and that Iran has refused to cap output.

This is what she tweeted in its entirety:

• Saudis, Iranians Clash Over Output Freeze Level–Sources
• Saudis Want to Use Secondary Sources for Output Freeze Levels–Sources
• Iran Wants to Use Govt Projections for Freeze Levels–Sources
• Disagreements in Vienna Go Unresolved Ahead of Algiers Meeting– Sources
• Iraq Won’t Cap Output Until It Reaches 4.75M B/D to 5M B/D–Statement
• Iraq Output Cap Implies Boost of 150,000B/D to 400,000 B/D Vs August

Oil has recouped some of its gain, but is still well above the intraday lows. We expect many more such headline headfakes in the coming days and especially early next week during the Algiers OPEC meeting.

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While the UK has so far avoided to implode in a depressionary supernova in the aftermath of Brexit contrary to what most of the “experts” and Tokyo-owned UK journalists had predicted, changes are taking place, mostly among the top echelons of power. Earlier today, the latest political fallout from the Brexit vote was the news that former Goldman economist, and BRIC acornym creator, Lord Jim O’Neill, resigned from the U.K. government, weeks after newspaper reports suggested he was disappointed with Prime Minister Theresa May’s policy toward China.

In a letter to May released on Friday, the Manchester native who was a key advocate of the UK forging strong links with China and was commercial secretary for 18 months, said he joined the government in 2015 to help improve the economy of northern England and to boost ties with emerging markets such as China. Admitting that David Cameron’s and the BOE’s forecasts for a post-Brexit apocalypse were wrong, As Bloomberg reports, O’Neill wrote to the new Prime Minister that “the case for both to be at the heart of British economic policy is even stronger following the referendum, and I am pleased that, despite speculation to the contrary, both appear to be commanding your personal attention.”

The Financial Times reported in July that O’Neill was threatening to quit as the U.K. Treasury’s commercial secretary because he was irritated by May’s decision to postpone approval of a deal with China to build Britain’s first atomic plant in 20 years. May subsequently endorsed the Hinkley Point project.

Bloomberg adds that O’Neill, 59, was a high-profile appointment to former Prime Minister David Cameron’s government and he was elevated to the House of Lords, the unelected upper chamber of Parliament. He will stay in the Lords, but no longer as a member of the ruling Conservative Party. In his letter, he tied the timing of his departure to this week’s United Nations agreement to find ways to offset resistance to antibiotics. He had chaired a U.K. commission on that topic.

May thanked O’Neill by letter and praised him for his work on China and promoting the north by saying he had “laid important foundations in these areas and the government will build on them.”

It remains to be seen if O’Neill will now complete the revolving door, and go back to his old-employer, Goldman. O’Neill joined Goldman Sachs in 1995, becoming head of economics in 2001 and then chairman of its asset-management arm in 2010 before stepping down in 2013. He was seen as a potential candidate to replace Mervyn King as governor of the Bank of England in 2012 although he subsequently said he didn’t apply.

As previously reported, ties between Goldman Sachs and governments have been in the news lately after the bank’s hiring of former European Commission President Jose Barroso drew criticism from his successor, Jean-Claude Juncker, and French President Francois Hollande.

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• Futures slip after three-day rally as oil dips (Reuters)
• Charlotte protests diminish early on Friday as family views video (Reuters)
• Undecided Voters Are Proving a Tough Sell for Clinton and Trump (BBG)
• Facebook Overestimated Key Video Metric For Two Years (WSJ)
• Trump received $1.6 million from Secret Service (Politico)
• How Bond Yields Got This Low (WSJ)
• Fiercest airstrikes yet on Aleppo after Syria declares offensive (Reuters)
• The Man Who May Inherit the Mess at Wells Fargo (BBG)
• Kingdom Comedown: Falling Oil Prices Shock Saudi Middle Class (WSJ)
• HSBC walks U.S. regulatory tightrope over $10 billion of ‘trapped’ capital (Reuters)
• Treasury minister Lord O’Neill quits government (BBC)
• Leon Cooperman’s Man in Shale Patch Goes From Hero to Headache (BBG)
• Bond Bulls Curb Their Enthusiasm in China’s Leverage Crackdown (BBG)
• Probe of leaked U.S. NSA hacking tools examines operative’s ‘mistake’ (Reuters)
• LSE’s Rolet Says 100,000 Jobs at Risk If Clearing Leaves London (BBG)
• Provincial boss ordered crackdown on China’s ‘democracy village’ with eye on national power (Reuters)

 

Overnight Media Digest

WSJ

– Yahoo Inc is blaming “state-sponsored” hackers for what may be the largest-ever theft of personal user data. The internet company, which has agreed to sell its core business to Verizon Communications Inc, said Thursday that hackers penetrated its network in late 2014 and stole personal data on more than 500 million users. http://on.wsj.com/2cQ5pKB

– Democratic presidential candidate Hillary Clinton wants to levy a 65 percent tax on the largest estates, up from 40 percent now, and make it harder for wealthy people to pass appreciated assets on to their heirs without paying taxes. http://on.wsj.com/2cQ5AFJ

– Big ad buyers and marketers are upset with Facebook Inc after learning the tech giant vastly overestimated average viewing time for video ads on its platform for two years, according to people familiar with the situation. http://on.wsj.com/2cQ78iO

– The police officer who fatally shot an unarmed black man in Tulsa, Oklahoma, was charged with first-degree manslaughter on Thursday, less than a week after the incident, which was caught on two widely circulated police videos. http://on.wsj.com/2cQ76aU

– Danish shipping-and-oil giant AP Moeller – Maersk A/S on Thursday said it would split its operations into two separate divisions focused on transport and energy as it battles one of the worst shipping down-cycles and a historic oil-price rout. http://on.wsj.com/2cQ5VYS

– Tesla Motors Inc filed a suit Thursday after Michigan denied it a license to open a store to sell directly to customers, saying a state law violates its constitutional rights and protects hometown rivals, such as General Motors Co. http://on.wsj.com/2cQ6ulp

– “Monster Trucks” won’t hit theaters for four months, but it appears to have already driven Paramount Pictures off course. Viacom Inc’s movie studio took the unusual step Wednesday of announcing a $115 million impairment charge “related to the expected performance of an unreleased film”. Analysts quickly zeroed in on “Monster Trucks,” a Jan. 13 release about a teenager who discovers a creature that gives his pickup special powers. http://on.wsj.com/2cQ6txY

– Sony Pictures Entertainment Inc is teaming up with Dalian Wanda Group to help market its films in China, a move that could help Sony boost box-office returns and strengthen Dalian Wanda’s profile in the movie business. http://on.wsj.com/2cQ6uC3

– Rolls-Royce Holdings PLC boss Warren East is replacing his finance chief in a move that amplifies the scale of the shake up under way at the British aircraft-engine makers after a series of profit setbacks and a dividend cut. Rolls-Royce’s chief executive is bringing in Stephen Daintith, 52, to replace current Chief Financial Officer David Smith who is set to leave the company next year after a transition period. http://on.wsj.com/2cQ6LVE

 

FT

* Volkswagen should reduce the “huge sums of money” paid to executives and any bonuses should be given in shares, activist investor TCI Fund Management said.

Danish shipping and oil conglomerate AP Moller-Maersk said on Thursday it will separate its businesses into transport and energy divisions in a bid to better tackle the problems facing its struggling businesses.

Computer hackers swiped personal information from at least 500 million Yahoo accounts in what is believed to be the biggest digital break-in at an email provider.

Hong Kong billionaire Li Ka-shing is preparing to bid for a majority stake in British electricity grid operator National Grid Plc’s gas distribution unit.

The World Trade Organization on Thursday said the European Union had failed to rein in billions of dollars in subsidies to planemaker Airbus, prompting Washington to call for an immediate halt to support that it says hit U.S. jobs

Facebook Inc’s Instagram said its advertising base more than doubled to 500,000 in the last six months.

 

NYT

– Yahoo Inc announced that the account information of at least 500 million users was stolen by hackers two years ago, in the biggest known intrusion of one company’s computer network. http://nyti.ms/2d591VA

– The U.S. Federal Reserve and the Office of the Comptroller of the Currency are seeking to impose their own penalties on JPMorgan Chase in a case against the bank for its hiring practices in China that were at the center of a federal bribery investigation, according to people briefed on the investigations. http://nyti.ms/2d59045

– Canada and China will begin talks that may lead to a free-trade agreement, Canada Prime Minister Justin Trudeau said, in the latest of Trudeau’s sometimes-contentious efforts to develop stronger ties with China. http://nyti.ms/2d589Af

– A report examining the many ways climate change threatens coffee and coffee farmers has alarmed people who are now imagining what it would be like getting through the day without their caffeine fix. http://nyti.ms/2d58T8w

 

Britain

The Times

Britain’s largest banks will be tested on their ability to weather a Chinese economic meltdown amid growing concerns at the Bank of England over the rapid growth of debt in the world’s second largest economy. http://bit.ly/2cPv5H4

Three former Tesco executives have denied two charges of fraud brought by the Serious Fraud Office as part of its investigation into a 263 million euros accounting scandal at the supermarket group. http://bit.ly/2cPvn0N

The Guardian

Gross mortgage lending hit its highest August level since before the financial crash, figures show, as the housing market appeared to defy fears of a crash after the Brexit vote. http://bit.ly/2cPvERc

Southern rail workers will strike for 14 days in five separate blocks from next month in the long-running dispute over the role of conductors. http://bit.ly/2cPwrS9

The Telegraph

IM Properties, one of the UK’s largest privately owned property companies, has launched a 1.34-billion-euro land division that aims to snap sites that require tricky planning permissions and prepare them for new homes. http://bit.ly/2cPwe1F

BT is in talks towards a deal worth tens of millions of pounds for full ownership of YouView, its set-top box technology joint venture with Britain’s public service broadcasters and broadband rival TalkTalk. http://bit.ly/2cPwKfO

Sky News

Data from at least 500 million Yahoo users was “stolen” during an attack in 2014, the internet company has said. http://bit.ly/2cPw4qL

The Bank’s Financial Policy Committee (FPC) said that while the financial system has been resilient since the decision to quit the bloc, the referendum result had delivered a “challenging” outlook for financial stability. http://bit.ly/2cPwYUs

The Independent

Facebook founder Mark Zuckerberg and his wife, Priscilla Chan, have pledged to cure all diseases by the end of the century and spend $3 billion towards this goal. http://ind.pn/2cPwWfd

HSBC is looking for a football pitch-sized office space in east London’s Shoreditch or Old Street to bolster its technology capabilities. http://ind.pn/2cPy56z

 

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