Fed expected to push ahead with rate hike plan (
Reuters)
Upbeat earnings lift European stocks ahead of Fed (
Reuters)
Chevron to Cut 1,500 Jobs (
Rigzone)
Can Windows 10 Revive PC Sales? (
WSJ)
U.S. Junk-Bond Buyers Left in Dark as Private Deals Become Norm
(
BBG)
Jeb Bush Drawing Big Bucks From GOP Establishment (
WSJ)
Myriad of Greek Risks Means Money Managers in No Hurry to
Return (
BBG)
Gas production at Gazprom set to hit post-Soviet low (
FT)
China-Tied Hackers That Hit U.S. Said to Breach United Airlines
(
BBG)
China Pushes to Rewrite Rules of Global Internet (
WSJ)
In Hideaway for Brazil’s Rich and Famous, a New Scandal Emerges
(
BBG)
Uncertain times fuel occult beliefs in China's Party hierarchy
(
Reuters)
Doctor Whose Drug Killed Teen Returns as Gene Tech Booms Again
(
BBG)
Wal-Mart Warns Its Suppliers Over Labeling Laws (
WSJ)
Tepco’s Quarterly Profit Triples as Fuel Prices Plunge (
BBG)
U.S. Health-Spending Growth Jumped to 5.5% in 2014 (
WSJ)
Ukraine struggles to control maverick battalions (
Reuters)
Overnight Media Digest
WSJ
* A Texas oil man, a Wall Street financier and several former
U.S. ambassadors are among the top donors to Jeb Bush's super PAC,
providing hard evidence the Republican establishment is rallying to
his presidential candidacy as he girds for a long primary battle. (
http://on.wsj.com/1JtJ9NT)
* Turkey drew NATO deeper into the Middle East conflict on
Tuesday, while threatening to further inflame regional turmoil by
signaling an end to three years of peace talks with Kurdish
separatists. (
http://on.wsj.com/1MsSFln)
* A sharp earnings acceleration by the top U.S. auto makers
through June is overshadowing Volkswagen AG's sweet success in
finally capturing the global sales crown from Toyota Motor Corp.
Rising U.S. demand for pickup trucks and sport-utility vehicles,
spurred by lower gasoline prices, is propelling domestic margins at
General Motors Co and Ford Motor Co to levels more typical of
German luxury car makers. (
http://on.wsj.com/1Da58rU)
* China is trying to rewrite the rules of the global Internet,
aiming to control online discourse and reduce U.S. influence. (
http://on.wsj.com/1D7nqug)
* Growth in national health spending, which had dropped to
historic lows in recent years, has snapped back and is set to
continue at a faster pace over the next decade, federal actuaries
said. (
http://on.wsj.com/1Mtsc7f)
* Wal-Mart has sent out a memo to hundreds of suppliers warning
them to comply with labeling laws, emphasizing that the amount
inside a package matches what is printed on the outside. (
http://on.wsj.com/1Mtsc7f)
* Procter & Gamble said company veteran David Taylor will
take over as CEO on Nov. 1, with A.G. Lafley shifting to the role
of executive chairman. (
http://on.wsj.com/1fFqZga)
FT
The European Commission told France to investigate whether
Disneyland Paris is unfairly overcharging British and German
customers on the basis of where they live.
HeidelbergCement agreed to buy control of Italcementi in a deal
that values its smaller Italian rival at 6.7 billion euros ($7.4
billion), less than three weeks after Holcim and Lafarge completed
their $44 billion cement mega-merger.
Britain's postal regulator Ofcom said Royal Mail has breached
competition law by proposing wholesale prices that were designed to
be more expensive for any firm looking to run a rival mail delivery
service.
NYT
* American International Group Inc said on Tuesday that it had
hired Douglas Dachille as its chief investment officer, succeeding
a longtime executive in the role. (
http://nyti.ms/1Da43jV)
* Royal Bank of Scotland Group Plc said on Tuesday that it
intended to further reduce its stake in the Citizens Financial
Group Inc, the American retail bank it spun off in an initial
public offering last year. (
http://nyti.ms/1eyDUQi)
* The industrial conglomerate Honeywell International Inc said
on Tuesday that it had agreed to acquire Elster, which manufactures
water and gas meters and control devices, from Melrose Industries
for 3.3 billion pounds, or about $5.1 billion, in cash. (
http://nyti.ms/1I8RzpA)
* Zurich Insurance Group AG said on Tuesday that it was
considering making an offer for its smaller British rival RSA
Insurance Group Plc. One of Europe's largest insurers, Zurich said
it had made its interest public in response to "market speculation"
that it was evaluating a bid for RSA. (
http://nyti.ms/1h47WwY)
* Digital payments startup Stripe, based in San Francisco, said
on Tuesday that it had raised new funding from investors like Visa
Inc, American Express Co and Sequoia Capital, among others, valuing
the young company at $5 billion. (
http://nyti.ms/1KxUtHE)
Hong Kong
SOUTH CHINA MORNING POST
-- The median monthly income of fresh university graduates has
dropped by almost 20 percent in the last 20 years, a study by two
monitoring groups New Forum and New Youth Forum has found,
prompting calls for a review of education policy.
(bit.ly/1H08edj)
-- Six mainland tourists were arrested at Hong Kong
International Airport on Tuesday and later charged over a fight
with seven ground crew after their Beijing-bound flight was delayed
for more than six hours. A Hong Kong Airlines flight was delayed
because of air traffic control in Beijing. (bit.ly/1SLRm0u)
-- A closed-door meeting of the University of Hong Kong's
governing body ended in chaos on Tuesday night when angry students
stormed the venue upon learning that members were sticking to their
guns in deferring the appointment of a liberal scholar to a key
managerial post. (bit.ly/1JQkorh)
THE STANDARD
-- More than 2.4 million electricity customers in Kowloon, New
Territories and the outlying islands will enjoy a special fuel
rebate totalling HK$1.2 billion ($154.8 million), CLP said. All
customers will receive a rebate of HK$0.08 per unit, based on their
consumption in the first six months. (bit.ly/1JQkzTf)
-- Hong Kong tours to South Korea are expected to resume this
weekend after Seoul declared an "effective end" to the Middle East
Respiratory Syndrome outbreak. Travel Industry Council executive
director Joseph Tung Yao-chung said agents expect the lifting of
the red alert on Friday, with the first tour of 20 Hongkongers
taking off on Saturday. (bit.ly/1gkDgYq)
-- Phone scams soared in the first six months of the year
involving about HK$26 million ($3.4 million), police figures show.
Up to June, more than 1,370 cases were recorded, of which 89
involved large sums of money ranging from HK$100,000 to HK$8.02
million. (bit.ly/1OAk6Z4)
HONG KONG ECONOMIC JOURNAL
-- Footwear maker and retailer Belle International saw its
business this year to be even worse than that during the Occupy
Movement amid weak local retail market with same store sales
falling 7.8 percent for March to May quarter. The performance for
June and July is expected to be worse than that in May, according
to chief executive Sheng Baijiao.
HONG KONG ECONOMIC TIMES
-- Some 76 Shanghai and Shenzhen listed property developers have
made profit alert for their first half results, of which 30 percent
of those have warned of expecting loss for the interim period,
according to information from mainland data provider Wing
Information.
Britain
The Times
BANK ADMITS BLUNDER OVER TAX BILL FOR DIRECTORS
The Bank of England admitted it failed to pay the correct tax on
some former senior directors' train travel and hotel costs. (
http://thetim.es/1D7hph6)
GKN WINS DOGFIGHT WITH 700 MLN EUROS DEAL TO BUY FOKKER
GKN, the private equity company owned by Arle Capital, is paying
706 million euros ($781 million) for Fokker, the Dutch aircraft
maker founded in 1919. (
http://thetim.es/1D7hQrY)
The Guardian
LONDON MOSQUE CHAIRMAN DEMANDS REMOVAL FROM BANKS' TERRORISM
BLACKLIST
The chairman of Finsbury Park mosque has demanded to be removed
from a confidential terrorism blacklist used by UK high street
banks, warning that it "alienated and demonised" members of the
mainstream Muslim community. (
http://bit.ly/1D7khdU)
The Telegraph
SANTANDER UK'S FINANCE BOSS QUITS IN FRUSTRATION AT FLOAT
DELAYS
Stephen Jones, Santander UK's chief finance officer, is leaving
the bank after four years, as the stock market flotation appears to
have been postponed for the foreseeable future. (
http://bit.ly/1D7iWUo)
RESTRUCTURE BANKS TO HELP WIDER SOCIETY, SAYS BOE CHIEF
ECONOMIST
Banks are too focused on executive pay and shareholder dividends
and need to focus more on the rights of employees, their creditors
and wider society, according to the Bank of England's Chief
Economist Andy Haldane.
Sky News
WEMBLEY ARENA OWNER QUINTAIN LANDS 650 MLN POUND BID
Quintain Estates and Development Plc, the quoted property
developer behind Wembley Arena, is in secret talks with U.S.-based
Lone Star Funds about a private equity takeover that will value it
at more than 600 million pounds ($936.66 million). (
http://bit.ly/1IpEZl6)
UK ECONOMY POSTS 0.7 PCT SECOND QUARTER GROWTH
UK economic growth accelerated to 0.7 percent in the second
quarter of the year, according to the Office for National
Statistics, which said the growth meant that GDP per head was back
to its pre-crisis peak in 2008. (
http://bit.ly/1D7hfGz)
The Independent
TECH LONDON 500 INITIATIVE LAUNCHES TO 'MATCH' IT FIRMS WITH
TALENTED STUDENTS TO OFFER DIGITAL APPRENTICESHIPS
Five hundred IT firms in London are being offered the
opportunity to pledge a job vacancy and have first pick of fresh
digital talent straight from school and college. (
http://ind.pn/1D7jKZC)
TESCO TO BAN RIBENA AND CAPRI-SUN PRODUCTS ALONG WITH OTHER
SUGARY DRINKS TO TACKLE OBESITY
Tesco Plc has announced plans to axe sugary drinks, which would
lead to the removal of some best-selling products by Ribena and
Capri-Sun from shelves. (
http://ind.pn/1D7k22w)
