- Global equities set 2-week low before Yellen speech, dollar dips (BBG)
- Lochte signs new endorsement deal, legal woes persist in Brazil (Reuters)
- Blackstone Unleashes Cash Hoard in Texas Shale Oil Land Grab (BBG)
- China to prosecute former statistics bureau chief for corruption (Reuters)
- Turkey fires on U.S.-backed Kurdish militia in Syria offensive (Reuters)
- U.S.-Backed Groups at Odds in Syria (WSJ)
- EU Hopes Helping Workers Will Blunt Populism (WSJ)
- Suicide truck bomb blamed on PKK kills 11 police in Turkey (Reuters)
- Lotte vice chairman found dead amid probe; suicide suspected (Reuters)
- Donald Trump’s Mixed Signals on Immigration Roil Campaign (WSJ)
- Judge orders search of new Clinton emails for release by September 13 (Reuters)
- Facebook ‘likes’ illustrate the personal differences between Republicans and Democrats (WSJ)
- Millions From Maxed-Out Clinton Donors Flowed Through Loophole (BBG)
- Ramos call for media bias against Trump unethical, compromising (Hill)
- Russia backs 48-hour Aleppo truce, U.N. wants other sides to commit (Reuters)
- Thought Volcker Rule Went Too Far? There’s More Coming for Banks (BBG)
- Why Citron Case Leaves Hong Kong Investors Squeezed (WSJ)
- AB InBev expects to cut three percent of jobs after SABMiller takeover (Reuters)
Overnight Media Digest
WSJ
– Donald Trump’s mixed signals about easing his plan to deport all illegal immigrants are dividing his closest allies and prompting warnings he could lose core supporters if he abandons the signature issue of his campaign. http://on.wsj.com/2bEaJea
– Blackstone Group said Thursday that it has agreed to invest $1.5 billion in a pair of drilling deals in West Texas. One came about after the New York investment firm early this year lost out to a big oil company bidding on about 12,000 acres south of New Mexico. http://on.wsj.com/2bLpCxc
– Growth in overall health-care spending is slowing, but middle-class families’ share of the tab is getting larger, squeezing households already feeling stretched financially. Overall, health-care spending across the economy reached 18.2 percent of gross domestic product as of June, up from 13.3 percent in 2000, according to Altarum Institute, a health research group. http://on.wsj.com/2bjY70H
– Most of Volkswagen AG’s diesel-powered vehicles on U.S. roads can’t be retrofitted to fully comply with air-pollution regulations, though its larger vehicles likely can, an attorney for the company said on Thursday. The company is close to offering regulators a fix for the larger vehicles. http://on.wsj.com/2bDbgwP
– Presidential contenders Hillary Clinton and Donald Trump delivered searing indictments of one another, trading charges of racism and corruption, and setting the tone for a bitter fight until the November election. http://on.wsj.com/2bR4FzN
– The messaging service WhatsApp will start sharing phone numbers and other user data with Facebook Inc, a moneymaking strategy that strays from its promise that little would change when the app was acquired by the social network in 2014. http://on.wsj.com/2blz47q
FT
Apple Inc has agreed a deal with BT Group’s EE to offer customers of the mobile phone network a six-month free subscription to Apple Music.
The European Commission is finalising a radical copyright reform that with give European news publishers the right to levy fees on internet platforms, such as Google, if search engines show snippets of the publishers’ stories.
The U.S. court handling the Volkswagen AG diesel emissions scandal ordered the German carmaker on Thursday to move quickly to decide whether to fix or buy back 85,000 3.0 liter luxury vehicles with polluting engines which VW has said it can fix without any affect on their performance.
Vivendi SA said it would implement a 300 million euro ($338.58 million) cost-cutting plan to stem losses from the French channels of its pay-TV unit Canal Plus. The goal is to reach breakeven in 2018 for Canal Plus channels in France, it added.
NYT
– U.S. President Obama on Thursday nominated Jim Yong Kim for a second five-year term as president of the World Bank despite persistent complaints among employees about his leadership at a time when the mission of the global development institution is in question. http://nyti.ms/2bRIt8H
– Responding to a growing furor from consumers and politicians, the pharmaceutical company Mylan said it would lower the out-of-pocket costs to some patients who need EpiPens, which are used to treat life-threatening allergy attacks. http://nyti.ms/2bRHSE5
– Uber recorded losses of roughly $1.2 billion in the first half of 2016, according to a person briefed on the company’s financial data, who spoke on the condition of anonymity. http://nyti.ms/2bRIgT8
– Apple Inc released a patched version of its mobile software to fix a dangerous security hole in iPhones and iPads after researchers discovered that a prominent United Arab Emirates dissident’s phone had been targeted with a previously unknown method of hacking. Users can get the patch through a normal software update. http://nyti.ms/2bRIbPi
Canada
THE GLOBE AND MAIL
** A takeover proposal to rescue debt-hobbled Twin Butte Energy Ltd is in jeopardy as debt holders angry over the prospect of a major markdown in the value of their securities pledge to reject the deal. (http://bit.ly/2bSk3Mf)
** As the Liberals prepare to launch their signature anti-terrorism initiative, they have closed the door on a previous one by the Conservative government called Kanishka Project. (http://bit.ly/2bSlGd8)
NATIONAL POST
** General Electric Co is set to break ground Friday on a new factory in Welland, Ontario, that will employ 220 people with the possibility of significant expansion. (http://bit.ly/2bSlQ3X)
** Rick Peterson, a Vancouver-based financial services executive, is mulling a bid to lead the Conservative Party of Canada and plans to enter the race in late September. (http://bit.ly/2bSmPRS)
Britain
The Times
** Japan’s largest airline, All Nippon Airways, said that it has been forced to cancel up to 300 flights over the next month while it investigates a problem with the Rolls-Royce Holdings Plc engines in its fleet of Boeing Co 787 Dreamliners. http://bit.ly/2bEML6Y
** One of the City’s most influential investor groups, whose members manage 14 trillion pounds ($18.47 trillion) of assets, has called on Sports Direct to reform fundamentally its corporate governance as shareholder pressure mounts on Mike Ashley’s sportswear group. http://bit.ly/2bENuVK
The Guardian
** UberEats riders will demonstrate outside the group’s London headquarters on Friday after the company cut the amount it pays per delivery, which some drivers say leaves them at risk of earning less than the minimum wage. They are calling on the company to pay the independently backed London living wage of 9.40 pounds ($12.40) an hour. http://bit.ly/2bENDbK
** The government is to launch a tourism action plan including cutting red tape for bed-and-breakfasts and ready-made train tours as an increasing number of Britons take bank holiday breaks in the UK. http://bit.ly/2bEMxwN
The Telegraph
** BT Group’s mobile arm, EE, has become the first British operator to bundle Apple Music with mobile contracts in a move to increase subscriber loyalty and help the iPhone maker’s music streaming app challenge Spotify. http://bit.ly/2bEMZuH
** News organisations in Europe will be given the right to charge internet giants such as Google to link to their content in a major shake-up of copyright reforms planned by Brussels. http://bit.ly/2bENW6r
Sky News
** Liberty Media Corp, backed by American media tycoon John Malone, is leading a 6.4 billion pound ($8.44 billion) battle for control of Formula One motor racing after proposing a deal that would see the sport’s owner listed on New York’s Nasdaq stock exchange. http://bit.ly/2bEOjOz
** ITV has abandoned its 1 billion pound ($1.32 billion) attempt to take over Peppa Pig owner Entertainment One . The broadcaster said the two companies differed on price. http://bit.ly/2bEOtFB
The Independent
** British shoppers have shrugged off uncertainty caused by the UK’s vote to leave the EU with retail sales growing at their best level in six months, pushed by the summer weather and foreign visitors lured by a weaker pound, according to a survey by the Confederation of British Industry (CBI).
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