- Stocks Advance in Unison With Bonds as Fed Inspires Global Rally (BBG)
- Soothing Fed gives stocks their mojo (Reuters)
- Yellen helps Clinton dodge a bullet (Politico)
- State of emergency called to quell Charlotte unrest over police shooting of black man (Reuters)
- Hillary Clinton Leads Donald Trump by Six Points in Latest WSJ/NBC Poll (WSJ)
- Trump praises ‘stop-and-frisk’ police tactic (Reuters)
- Oil bet gone wrong: rusting tankers and rigs clog up Asian waters (Reuters)
- America Is Not the Greatest Country on Earth. It’s No. 28 (BBG)
- EU Banks May Need Rescue Funds Equaling Twice ECB Capital (BBG)
- Venezuela election board sinks push for Maduro referendum in 2016 (Reuters)
- Wall Street’s Stock-Selling Business: The Worst in 20 Years (WSJ)
- Biden warns Ukraine on reforms, says EU sanctions on Russia at risk (Reuters)
- The Professor Who Was Right About Index Funds All Along (BBG)
- China gets steelier about debt restructuring (Reuters)
- Hanjin Gets $45 Million Credit Line From Korean State Lender (BBG)
- China supervisory body approves launch of credit default swaps soon (Reuters)
- Denmark’s Maersk alters course with freight and energy split (Reuters)
- Mylan CEO Faces Tough Questioning in Congressional EpiPen Hearing (WSJ)
- Death toll from air strike in Yemen rises to 26 (Reuters)
Overnight Media Digest
WSJ
– A person was shot and an officer was injured during a second night of protests following the fatal police shooting of a black man Tuesday. The man shot downtown just after 8 pm was shot by a civilian, according to the city of Charlotte. http://on.wsj.com/2daLilK
– The U.S. Federal Reserve left short-term interest rates unchanged Wednesday but signaled it still expected to raise them before year-end, reaching a temporary truce among officials divided over when to withdraw financial stimulus from the economy. (http://on.wsj.com/2daLhhr)
– Mylan NV Chief Executive Heather Bresch faced tough questioning Wednesday from Republicans and Democrats in Congress probing price increases for the EpiPen allergy treatment. Bresch told a House committee that the company profited far less than the nearly $609 list price for a pack of two might suggest, making $100 a pack after rebates and other costs. http://on.wsj.com/2daKiOm
– The U.S. Securities and Exchange Commission accused hedge-fund manager Leon Cooperman and his firm, Omega Advisors Inc, of insider trading, on Wednesday. http://on.wsj.com/2daNkC2
– Hillary Clinton is maintaining her edge over Republican rival Donald Trump despite recent campaign setbacks, but the 2016 presidential race continues to tighten going into the homestretch, a new Wall Street Journal/NBC News poll has found. http://on.wsj.com/2daKOf5
– Viacom said on Wednesday that its interim CEO Tom Dooley will depart a month and a half later than originally planned after he was tapped for the role as part of a deal in August to settle a drawn-out power struggle between the company’s controlling shareholder and its board and management team. http://on.wsj.com/2daLj8Y
– Apple Inc, which is working to build an electric car, has held talks about investing in British sports-car maker McLaren Technology Group, according to a person familiar with the matter, but McLaren denies any talks are ongoing. http://on.wsj.com/2daKQno
– Facebook Inc’s Chief Executive Mark Zuckerberg and his wife Priscilla Chan on Wednesday committed to invest more than $3 billion during the next decade to build technology that can speed up research on disease. http://on.wsj.com/2daKNrQ
FT
The U.S. Securities and Exchange Commission on Wednesday charged hedge fund manager Leon Cooperman and his firm Omega Advisors with having relied on private information to make trades.
Apple Inc has approached British Formula One team owner McLaren Technology Group for a strategic investment or a potential buyout.
Viacom Inc said on Wednesday that its interim chief executive, Tom Dooley, had decided to leave the company. The company also halved its quarterly dividend to 20 cents per share.
Britain’s markets watchdog has dropped plans for a formal market review of whether Big Data might make it harder or more expensive for some customers to buy car and home insurance, saying there was no evidence of that so far.
NYT
– Hours after the U.S. Securities and Exchange Commission sued Leon Cooperman’s Omega Advisors of insider trading, Cooperman fired back with a detailed five-page rebuttal sent to investors. http://nyti.ms/2cvdoJZ
– More than 20 world leaders tendered legal documents on Wednesday, formally binding their governments to the Paris climate accord at a General Assembly ceremony here and all but ensuring that the agreement will go into force by the end of the year. http://nyti.ms/2d3092v
– The United States removed a final hurdle for Western aircraft manufacturers to sell planes to Iran, a country desperately in need of hundreds of new aircraft. The Treasury Department granted the aviation giants Airbus and Boeing licenses to deliver planes to Tehran. http://nyti.ms/2diCNWf
– The regional court in Braunschweig, Germany, near Volkswagen’s headquarters in Wolfsburg, said it had registered more than 1,400 complaints from institutional and individual shareholders seeking 8.2 billion euros, or about $9.2 billion, in damages. http://nyti.ms/2cEsMRW
– The U.S. Justice Department, which is suing Anthem and Cigna to block their $48 billion deal, revealed in court documents that the two health insurers have been accusing each other of breaching their merger agreement. http://nyti.ms/2d1kXJn
Britain
The Times
Farmers have expressed dismay after the Serious Fraud Office dropped a proposed criminal investigation into an agricultural lender accused of cheating them out of their homes and livelihoods. (http://bit.ly/2dabIE2)
Confidence among small businesses is at a four-year low because of concerns among companies that the economy will weaken as Britain prepares to leave the European Union. (http://bit.ly/2dacOQ9)
The Guardian
The West’s leading economic think tank has backtracked on its warning that the UK would suffer instant damage from a Brexit vote and has thrown its weight behind plans by Prime Minister Theresa May to provide fresh post-referendum support to growth in November’s autumn statement. (http://bit.ly/2daccdn)
Apple Inc has been linked with a shock 1.5 billion euro deal to buy McLaren Technology Group, the Formula One team owner and supercar maker. (http://bit.ly/2dabMUq)
The Telegraph
Pilots working for easyJet have voted overwhelmingly in favour strike action against the budget airline, sparking a last minute offer from the company’s management in a bid to avert a major disruption during the October half-term holiday. (http://bit.ly/2dacaSR)
A company offering the UK’s first online property ISA has secured 1.3 million euros of backing from Zoopla and prolific venture capitalist Robin Klein ahead of its launch. (http://bit.ly/2dacoth)
Sky News
The Co-op Group will this week slash the value of its bank shareholding for the second time in six months, reflecting deteriorating investor sentiment toward the industry with interest rates at record lows. (http://bit.ly/2dadkxz)
The U.S. Federal Reserve has left interest rates on hold, but signalled there could be a hike by year-end as the jobs market improves. (http://bit.ly/2daflcZ)
The Independent
HSBC is offering a record low mortgage interest rate of 0.99 percent, as intense competition makes borrowing cheaper than ever. (http://ind.pn/2dadCo1)
Airbus has been granted a license by the U.S. government to sell its first 17 planes to Iran as part of a landmark deal, the airline confirmed on Wednesday. (http://ind.pn/2dacUr3)
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