Stock Halts Added to Monday’s Market Chaos (
WSJ)
Fed Up Investors Yank Cash From Almost Everything Just Like
2008 (
BBG)
Drop in Stock Futures Signal Halt to S&P 500's Relief Rally
(
BBG) - at least until the BOJ ramps USDJPY up
again
Hacker Killed by Drone Was Islamic State’s ‘Secret Weapon’ (
WSJ)
Greece's Syriza to win election but face setback, poll shows (
Reuters)
Puerto Rico Spends More Than $60 Million on Debt Restructuring
(
BBG)
China’s Moves Won’t Help U.S. Tech Firms (
WSJ)
How the IMF’s misadventure in Greece is changing the fund (
Reuters)
Japan inflation stalls and spending slides, keeps BOJ under
pressure (
Reuters)
Hundreds die as desperate migrants head for Europe (
Reuters)
Best president ever! How Trump's love of hyperbole could
backfire (
Reuters)
Greece’s Economy Surged as Tsipras Fought With EU Over Aid Deal
(
BBG)
Can Netflix Become Must-See TV in Japan? (
BBG)
The Fed's Goldilocks Problem (
El-Erian)
Overnight Media Digest
WSJ
- U.S. stocks charged higher for a second straight session amid
signs of strong domestic growth and a rally in Asia and Europe,
marking the latest big move in a tumultuous week
(on.wsj.com/1LF6sXi)
- That Islamic State's Junaid Hussain was targeted directly by
the U.S. and UK shows the extent to which digital warfare has upset
the balance of power on the modern battlefield. Hussain, a British
citizen in his early 20s, had risen fast to become a chief in
Islamic State's electronic army. (on.wsj.com/1LF6Bd6)
- U.S. President Barack Obama marked the 10th anniversary of
Hurricane Katrina with a speech Thursday in New Orleans calling the
storm, in part, a man-made disaster fueled by poverty and
government inaction. (on.wsj.com/1LF6I8t)
- After months of forewarning by the U.S. Federal Reserve that
it is preparing to raise short-term interest rates, some
international officials have a message: Get on with it
already.(on.wsj.com/1LF6QFg)
- The Chinese affiliate of Uber Technologies Inc is close to
securing about $1 billion in new funding from investors in the
region to help finance its battle with deep-pocketed Chinese rival
Didi Kuaidi. (on.wsj.com/1LF6Wwx)
- Activist investor Carl Icahn disclosed an 8.5 percent stake in
mining-and-energy giant Freeport-McMoRan Inc on Thursday, saying
its shares are undervalued and that he plans to talk with
management about costs. (on.wsj.com/1LF8pCQ)
FT
Google Inc has rejected EU antitrust charges that it abused its
market power, exposing the company to the risk of a hefty fine if
it does not alter its business practices.
French oil major Total SA has agreed to sell some of its gas
pipeline assets in the UK's North Sea to North Sea Midstream
Partners, an affiliate of U.S.-based private equity firm ArcLight
Capital, for 585 million pounds ($901 million).
Britain's largest music copyright collective PRS for Music has
sued SoundCloud for copyright infringement, saying the online
audio-streaming firm did not agree on a licensing deal.
NYT
- The U.S. Food and Drug Administration on Thursday approved
Amgen Inc's Repatha, the second drug in a novel class of powerful
cholesterol-lowering medications intended for people with heart
disease who cannot sufficiently lower their cholesterol levels with
statins and other therapies. (
http://nyti.ms/1NKUue1)
- Google Inc on Thursday rejected claims from the European
Union's top antitrust official that the company favored some of its
own search results over those of rivals, saying there was
significant competition in the region's online search market and
that the company's services increased choice for local consumers. (
http://nyti.ms/1NKYxHq)
- The U.S. Food and Drug Administration issued warnings to the
makers of Natural American Spirit, Winston and Nat Sherman
cigarettes, saying that the brands could not be marketed as
"additive-free" or "natural." (
http://nyti.ms/1NL08wK)
- A Delaware judge found on Thursday that David Murdock, Dole
Company's chief executive, and a top lieutenant fraudulently drove
down the company's stock price so Murdock could buy the business at
a cheaper price in its 2013 leveraged buyout. (
http://nyti.ms/1NL0P9l)
- The National Labor Relations Board, in a long-awaited ruling,
made it easier on Thursday for unions to negotiate on behalf of
workers at fast-food chains and other companies relying on
contractors and franchisees. (
http://nyti.ms/1NL0YcV)
Hong Kong
SOUTH CHINA MORNING POST
- Two more top Citic Securities executives were named as having
been taken away by mainland police as part of an investigation into
illegal securities trading, as Beijing toughens its stance on what
it calls "malicious short-selling". Two sources revealed that in
addition to managing director Xu Gang, two other members of its
executive committee were "asked to assist in the investigation".
(bit.ly/1hIZFiF)
- Investors from Hong Kong's biggest trade partner in Europe
were not put off by last year's Occupy protests, Germany's top
envoy to the city said. A politically active youth contingent was
"good for Hong Kong", said Consul General Nikolaus Graf Lambsdorff,
who believes some protest leaders could use their skills to become
successful in business. (bit.ly/1ImDq70)
- The number of visitors to Ocean Park has dropped about 15
percent so far this summer holiday amid concerns that an increasing
number of mainlanders are opting for other Asian destinations such
as Japan and Singapore, according to the park's sales and marketing
executive director, Vivian Lee. (bit.ly/1ImDOmf)
THE STANDARD
- A deputy director of the Hong Kong and Macao Affairs Office
has met with Democratic Party leaders in a surprise ice-breaking
lunch in Admiralty. Feng Wei, with his two assistants, met party
chairwoman Emily Lau, vice-chairmen Lo Kin-hei and Andrew Wan
Siu-kin, chief executive Lam Cheuk-ting and lawmaker Wu Chi-wai.
Lau denied the meeting was a closed-door talk. (bit.ly/1LEMY4U)
- Chinese carmaker BYD said it could sell 60,000 new-energy cars
this year after sales in the first half hit 20,000. Chairman and
president Wang Chuanfu expects sales in the new-energy-vehicle
industry to continue to grow sharply in the second half.
(bit.ly/1hjksZr)
- China Mengniu Dairy chief executive Sun Yiping said the
industry in the mainland faces challenges of excess supply of raw
milk, but added the firm will keep its prices stable. The company
will also strive to develop its online marketing and products to
tap young consumers in the second half, Sun said.
(bit.ly/1Jphtsa)
HONG KONG ECONOMIC JOURNAL
- PetroChina said it will trim its capital expenditure to deal
with the low-oil-price environment, which would also bring
opportunities for mergers and acquisitions, while the depreciation
of the yuan will aid earnings.
MING PAO DAILY
- Emperor Watch & Jewellery Ltd posted a HK$54.1 million ($7
million) loss for the first half of 2015 with revenue falling 21.1
percent from a year ago to HK$2.4 billion amid weak retail
sentiment and increasing rental expenses. It said sales of watches
fell 21.9 percent and jewellery was down 17.6 percent.
Britain
The Times
* The first British bank to float since the financial crisis,
OneSavings Bank Plc, has doubled its shareholders' money in just
over a year after posting surging profits from buy-to-let
mortgages. (
http://thetim.es/1i5B5Zp)
* The world's largest advertising group, WPP Plc, has soothed
concerns that its full-year targets were at risk after reporting a
bounce in like-for-like revenue for July. (
http://thetim.es/1JpaS0B)
The Guardian
* The best performance in 17 years from companies in areas such
as accountancy, law and marketing has helped Britain's dominant
services sector bounce back after a weak start to the year,
according to the Confederation of British Industry. (
http://bit.ly/1MYrdNY)
* The annual rate of house price growth was the weakest for two
years in August, said Nationwide, despite a 0.3 percent monthly
rise in prices. (
http://bit.ly/1UeMmCu)
The Telegraph
* Hungry but health-conscious Britons are munching their way
through variety nibbles such as popcorn, lentil crisps and kale
chips, which are growing faster than the overall savoury snacks
market. (
http://bit.ly/1Ly8XaW)
* Terra Firma moved a step closer to a long-awaited blockbuster
sale of the Odeon & UCI cinema chain after superheroes, fast
cars and dinosaurs pushed the business back into profit. (
http://bit.ly/1MYryjI)
Sky News
* Luke Johnson, the serial entrepreneur, is backing the
London-based folding-bike manufacturer Brompton as it strives to
meet growing international demand. (
http://bit.ly/1LEEFWZ)
The Independent
* David Cameron, the UK prime minister, has pledged to
renegotiate Britain's relationship with the European Union before
holding an in-out referendum on EU membership by the end of 2017. (
http://ind.pn/1JzZdNO)
