- Global stocks hit highest in a year but banks take shine off Europe (Reuters)
- Fed’s Dudley Warns It Is Premature to Rule Out an Interest-Rate Increase This Year (WSJ)
- Fed’s Kaplan Says September ‘On the Table’ If Data Support (BBG)
- Europe’s stress tests fail to ease investors’ bank sector worries (Reuters)
- Trump’s Attacks on Khan Family Roil Race But May Not Alter It (BBG)
- Father of Slain Soldier Volleys Back at Donald Trump (WSJ)
- Clinton says Russia behind DNC hacking, draws line to Trump (Reuters)
- Russia says accusations it was behind DNC email hack are insulting (Reuters)
- Islamic State calls on members to carry out jihad in Russia (Reuters)
- Celgene Accused of Using Charities in ‘Scheme to Gain Billions’ (BBG)
- Hunt for Returns Reaches Pakistan (WSJ)
- A $400 Billion Influx Squeezes U.S. Bond Market’s Safest Asset (BBG)
- Abe’s Japan Spending Package Likely to Come Up Light (WSJ)
- More Companies Are Choosing a Sale Over an IPO (WSJ)
- The Fragile U.S. Economy Now Facing a Slowdown in Building Boom (BBG)
- China stakes a strong claim in the Greek electricity landscape (Kathimerini)
- Goldman Bond Deals With 1MDB Under Singapore Central Bank Review (BBG)
- U.S. judge to weigh halt to North Carolina transgender bathroom law (Reuters)
- Britain’s scientists are freaking out over Brexit (WaPo)
- Turkey captures 11 involved in bid to seize Erdogan during coup attempt (Reuters)
Overnight Media Digest
WSJ
– Federal Reserve Bank of New York President William Dudley argued for continued caution over the path of U.S. interest rates, given uncertainty over the global outlook, but warned that traders who have been ruling out an interest-rate increase later this year are growing too complacent. http://on.wsj.com/2ar4Y5E
– China’s homegrown ride-hailing champion, Didi Chuxing Technology Co, has reached a deal to acquire Uber Technologies Inc’s China operations, people familiar with the deal said, marking an end to their bruising competition for passengers. http://on.wsj.com/2ar5O2o
– Pope Francis said the inspiration for terrorism wasn’t Islam but a world economy that worshiped the “god of money” and drove the disenfranchised to violence. “Terrorism grows when there is no other option, and as long as the world economy has at its center the god of money and not the person, “the pope told reporters late Sunday as he returned to the Vatican from a five-day visit in Poland. “This is fundamental terrorism, against all humanity.” http://on.wsj.com/2akIL7H
– A hot-air balloon hit at least one electrical transmission line before all 16 people on board died in a fiery crash in Central Texas on Saturday, prompting accident experts to delve into weather conditions, pilot actions and equipment issues, according to the first official release of information by federal investigators. At a Sunday press conference in the middle of a rural pasture bisected by power lines and towers about 30 miles south of Austin, Robert Sumwalt, the on-scene member of the National Transportation Safety Board, said preliminary indications pointed to some type of collision between a portion of the balloon and part of that electrical grid. http://on.wsj.com/2aVmihm
FT
* High-profile British Treasury Minister Jim O’Neill, a former Goldman Sachs chief economist, could quit his post over Prime Minister Theresa May’s new approach to Chinese investment, the Financial Times reported, citing a friend of O’Neill.
* Ride-hailing service Uber will invest $500 million in an ambitious global mapping project to wean itself off dependence on Google Maps and pave the way for driverless cars, the Financial Times reported on Sunday.
* U.S. bank Goldman Sachs was asked to provide details of any paid work it has done for Tina Green, the wife of retail tycoon Philip Green, as British Members of Parliament continue to evaluate the banks involvement in Green’s decision to sell BHS for 1 pound.
NYT
– Didi Chuxing, the largest ride-hailing service in China, plans to buy Uber China, the Chinese arm of the American ride-sharing giant, in a deal that values the new company at about $35 billion. http://nyti.ms/2aBWKH9
– HBO’s new president of programming Casey Bloys said that “Game of Thrones” would conclude after its eighth season, and he acknowledged that next season’s summer premiere date would mean the show would not be eligible for the 2017 Emmys. http://nyti.ms/2aBXZq3
– A consortium of Chinese investors led by the game company Shanghai Giant Network Technology said it would pay $4.4 billion to Caesars Interactive Entertainment for Playtika, its social and mobile games unit. http://nyti.ms/2aBYgck
Britain
The Times
British taxpayers could bear the burden of 2.5 billion pounds ($3.30 billion) even if the Hinkley Point bill is dropped. EDF, the French energy giant, has already invested 2.5 billion pounds in developing the site for the nuclear plant. (http://bit.ly/2aUwzdM)
A three-member International Olympic Committee (IOC) panel will have the final say on which Russian athletes can compete at the Rio Games, reviewing all decisions taken by the international federations. The IOC earlier this month set criteria for Russians to be eligible to compete in Rio after revelations of state-backed doping in the country. (http://bit.ly/2aUx5ID)
The Guardian
The Bank of England is almost certain to cut benchmark borrowing costs when it sets policy on Aug. 4. This kind of quantitative easing could be used by policymakers to give an extra boost to the economy after the Brexit vote. (http://bit.ly/2aUxpaj)
Bernard Hogan-Howe, the Metropolitan Police commissioner, said Britain is well-equipped to prevent terror attacks, but it remained a question of ‘when, not if’ there would be an attack. His comment came in light of the recent Islamic State attacks on European countries. (http://bit.ly/2aUyiQt)
The Telegraph
A large number of workers could be denied flexible access to their final salary pension funds if a bill to allow companies to ditch their pension promises is passed by the government.(http://bit.ly/2aUyPSl)
Sky News
British Prime Minister Theresa May’s first important order of business was meeting the bosses of four companies subject to inquiry by the Serious Fraud Office. She met with the chiefs of Barclays, GlaxoSmithKline, Rolls Royce and Tesco – each of which is being investigated for alleged wrongdoing. (http://bit.ly/2aUyQpu)
The deal worth 79 billion pounds ($104.32 billion) between SABMiller and Anheuser-Busch InBev remains to be voted on by shareholders of SABMiller. The board of SABMiller intends to persuade shareholders to approve the terms of the deal. (http://bit.ly/2aUzNxM)
The Independent
Former British Prime Minister David Cameron has reportedly offered knighthoods and other such titles to prominent campaigners from the Remain camp. Four cabinet members – Michael Fallon, David Lidington, Philip Hammond and Patrick McLoughlin – could be awarded knighthoods as well. (http://ind.pn/2aUCEXK)
The recent surge in anti-immigration hate crimes in Britain after the Brexit vote has occurred mostly in areas that strongly voted to leave the European Union. Statistics show hate crimes are on the rise in Eurosceptic areas of Britain. (http://ind.pn/2aUDaVr)
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