Financial Markets and Economy
Philippine Equities Plunge, Erasing the Rally That Has Happened Since Rodrigo Duterte Took Office (TIME)
Philippine equities sank more than any other regional stocks last month, completely erasing the rally that had taken place since pugnacious President Rodrigo Duterte took office in June.
Manufacturing in U.S. Contracts for First Time in Six Months (Bloomberg)
Manufacturing in the U.S. unexpectedly contracted in August for the first time in six months amid slumping orders and production that raise concern of renewed industrial weakness.
Pinning Down Apple’s Alleged 0.005% Tax Rate: Mission Impossible (Bloomberg)
The European Commission’s finding that Ireland must collect as much as an attention-getting 13 billion euros ($14.5 billion) in back taxes from Apple Inc. contained a second stunning number: 0.005 percent.
Anglo American’s Biggest Shareholder Wants Vote on Sales Plan (Bloomberg)
Anglo American Plc’s biggest shareholder, the Public Investment Corp., will meet with the company next week to discuss whether its plans to sell more than half of its mines including South African coal and iron-ore assets is the best option for the country.
It's Hard to Overstate How Quiet Stock Markets Are Right Now (Bloomberg)
Calm has been the defining characteristic of markets over the past month, but in one asset class the degree of tranquility stands head and shoulders above the rest.
U.S. Consumer Comfort Falls From Highest Level Since April 2015 (Bloomberg)
American consumer sentiment reversed course last week after climbing to the highest level since April 2015, weighed down by less favorable views of the economy, the buying climate and household finances, the weekly Bloomberg Consumer Comfort Index showed Thursday.
“If You Own a Home in Palo Alto, CA, Sell it Now” (Wolf Street)
In Palo Alto, a small town of about 67,000 souls, including Facebook CEO Mark Zuckerberg, about an hour south of San Francisco, in the middle of Silicon Valley, and part of the 9 million people in the vast Bay Area, the median home value in July, according to Zillow, fell to $2.486 million.
Global Supply Chains Paralyzed After World's 7th Largest Container Shipper Files Bankruptcy, Assets Frozen (Zero Hedge)
After years of relentless decline in the Baltic Dry index…
Spanish Bonds Drop for a Third Day Amid 4 Billion-Euro Debt Sale (Bloomberg)
Spanish government bonds declined for a third day as the Treasury sold almost 4 billion euros ($4.5 billion) of conventional debt and investor demand fell at the auction of 30-year securities.
Bank of America: Analyst Sentiment Is Pointing to a Huge Rally in Stocks (Bloomberg)
While the S&P 500 is already trading above Wall Street's year-end target for the index, there's one indicator that says now is still a great time to buy stocks.
Brazil Swaps Decline on Bets Door I Open for Rate Cut This Year (Bloomberg)
Brazilian swaps fell the most in three months on increased bets that the key interest rate may be cut later this year as traders said the central bank eased up on its hawkish tone in a statement released late Wednesday.
Barclays Lent Qatar $3 Billion to Fund 2008 Deal, PCP Says (Bloomberg)
Barclays Plc loaned $3 billion to Qatar to help fund a share purchase as the lender sought investments from the Middle East at the peak of the 2008 financial crisis, according to a U.K. lawsuit brought by Amanda Staveley’s investment firm.
Ford, GM Deliveries Drop in August as Pickups Decline (Bloomberg)
The traditional Detroit automakers and Nissan Motor Co. all reported U.S. vehicle sales for August that missed analysts’ estimates, increasing the odds that industrywide sales won’t extend a streak of annual records.
Deutsche Bank Refuses Delivery Of Physical Gold Upon Demand (Zero Hedge)
While the trading world was focused on the latest news involving Deutsche Bank, namely that the troubled German bank had been contemplating a merger with Germany's other mega-bank, Commerzbank as part of a strategy to sell all or part of a key business to speed up its flagging overhaul, a more troubling report emerged in a German gold analysis website, according to which Deutsche Bank was unable to satisfy a gold delivery request when asked to do so by a client of Germany's Xetra-Gold service.
Politics
Clinton ally Villaraigosa: 'They haven't enriched themselves from politics' (Politico)
Neither Bill nor Hillary Clinton has "enriched themselves from politics," former Los Angeles Mayor Antonio Villaraigosa said Thursday, while acknowledging that the Democratic nominee must act to make Americans see her as more honest and trustworthy.
Will Hillary Fix Bill’s CEO Pay Mistake? (The Huffington Post)
Over nine million American families lost their homes in the aftermath of the 2008 financial crisis and millions watched their retirement savings evaporate.
Brazil impeaches president just as recession deepens (CNN Money)
The country's Senate voted on Wednesday to impeach President Dilma Rousseff, ending a bitter political fight.
The bad news didn't stop there. Brazilian officials announced on Wednesday that the economy's historic recession deepened.
Donald Trump is starting to noticeably cut into Hillary Clinton's once-gigantic lead in the polls (Business Insider)
Donald Trump is gaining ground on Hillary Clinton nationally.
The Republican nominee, who faced a mid-August deficit of nearly 8 points in the RealClearPolitics head-to-head polling average against Clinton, has cut that lead nearly in half.
Donald Trump's Campaign Is Being Sued by a Group of Kids (Fortune)
They’re seeking up to $15,000 in damages.
Remember those little girls who performed at a Trump rally earlier this year? They’re now suing Donald Trump’s campaign.
Technology
Samsung may recall the Galaxy Note 7 following exploding battery reports (Business Insider)
Samsung is considering a recall for its latest smartphone, the Galaxy Note 7, following reports of battery explosions, according to a report in The Korea Herald.
More than half of consumers prefer businesses that use chat apps (BI Intelligence)
Having a presence on chat apps is more important than ever for businesses, according to a recent survey by Facebook.
Drone company DJI just made the selfie stick of our dreams (CNN Money)
DJI is known for its drones that capture video high in the sky, but the company is increasingly finding success on the ground with other product lines.
US Army creates new office to rapidly deploy advanced technologies to the field (Business Insider)
On Wednesday, the US Army announced the creation of the Rapid Capabilities Office to "expedite critical technologies to the field in an effort to counter urgent and emerging threats."
Fiat Emissions Face Scrutiny as Germany Escalates Italy Spat (Bloomberg)
Germany escalated a dispute with Italy over whether Fiat Chrysler Automobiles NV’s vehicles breached emissions rules, asking the European Union to weigh in on its behalf.
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The 'Google of China' is making big moves in the driverless car arms race (Business Insider)
With so many companies developing driverless cars, it can be easy to forget about Baidu.
But the Chinese internet giant, often referred to as the "Google of China", is making big moves to get its autonomous vehicles on the road.
Health and Life Sciences
Ring of Fire Solar Eclipse Rises Over Africa (TIME)
Known as a “ring of fire“, an annular solar eclipse occurs when the moon passes in front of the sun, but is not near enough to us to totally block it out.
Astronomers just discovered two of the closest-orbiting twin stars ever (Science Alert)
Scientists have announced the discovery of a new binary star – a star system where two suns orbit around a common centre of mass, much like the planetary neighbourhood where a hopeful farmboy called Luke Skywalker grew up a long time ago.
First Local Case of Tick-Borne Disease Kills Man in Spain (Reuters)
Spanish health authorities said on Thursday they were investigating a possible outbreak of Crimean-Congo hemorrhagic fever (CCHF) which has killed one man and infected a nurse, in the first non-imported case reported in Western Europe.
New Alzheimer's drug trial clears toxic brain proteins and slows memory loss (Science Alert)
A new drug trial for Alzheimer’s patients has just been completed, and researchers are calling the results the most promising yet in the fight against the disease.
The FDA Now Requires Stronger Warning Labels for Opioid Drugs (Reuters)
The U.S. Food and Drug Administration on Wednesday strengthened warnings about the danger of combining opioid painkillers or cough medicines containing opioids with benzodiazepines, a common class of sedatives.
Life on the Home Planet
Hurricane warning for parts of Florida as Hermine strengthens (Reuters)
Tropical Storm Hermine picked up strength and was expected to be a hurricane when it reached Florida's north Gulf Coast on Thursday evening, bringing heavy rains and high winds that forecasters warned could cause catastrophic flooding.
A Single Lightning Strike Kills Nearly 20 Cows in Texas (TIME)
“All of a sudden, a lightning bolt came down and the cows just fell"
A lightning bolt struck and killed nearly 20 cows in Texas just days after a lightning strike left more than 300 reindeer dead in Norway
SpaceX Falcon 9 rocket explodes during test firing in Florida (Reuters)
An explosion destroyed a Falcon 9 rocket belonging to Elon Musk's SpaceX during routine test firing at Cape Canaveral in Florida on Thursday, shaking buildings miles (km) away and sending a thick plume of black smoke pouring into the air.
Exclusive: U.S., others agreed to 'secret' exemptions for Iran after nuclear deal – report (Reuters)
The United States and its negotiating partners agreed "in secret" to allow Iran to evade some restrictions in last year's landmark nuclear agreement in order to meet the deadline for it to start getting relief from economic sanctions, according to a report reviewed by Reuters.
