Financial Markets and Economy
Duterte Outbursts Taking Toll as Philippine Stock Losses Mount (Bloomberg)
Losses in Philippine stocks are accelerating as foreigners keep pulling money from Asia’s most expensive market amid speculation the outbursts of President Rodrigo Duterte are hurting investor sentiment.
G20 a success for China, but hard issues kicked down the road (Reuters)
China is lauding its successful hosting of the G20 summit in scenic Hangzhou, with open confrontation largely avoided and broad consensus reached over the fragile state of the global economy and the need for a wide range of policies to fix it.
Freeing Bank Surplus Funds From The Fed Could Jumpstart the Economy (Forbes)
Despite the perspective offered by the Unemployment Rate, the domestic economy as evidenced by the August ISM Index and its sister ISM Services Index show the tone of the US economy is anemic.
World stocks hit one-year highs as Fed hike prospects fade (Reuters)
World stocks hit their highest in more than a year and the dollar fell sharply against the yen on Wednesday as expectations of a rise in Federal Reserve interest rates receded after weak U.S. economic data.
Americans Drive to a New Record in Gasoline Consumption (The Wall Street Journal)
Americans fueled up this summer at levels not seen since the recession began almost nine years ago, new data shows.
But before you raise your Icee in salute to the U.S. economy, consider this: Nine years is a stunningly long road to recovery in gasoline consumption for an economy that replaced all the jobs and output lost during the deep recession several years ago.
Hedge Fund Billionaire Bill Ackman Spots Value In Chipotle's Beaten Down Stock (Forbes)
Bill Ackman and Chipotle Mexican Grill CMG +5.27% have a lot in common. After all, both have suffered a bruising 12-month stretch in which their futures came into serious question and many investors remain skeptical about a comeback.
DSW experiences stellar online growth in the latest quarter (BI Intelligence)
Footwear retailer Designer Shoe Warehouse (DSW) experienced strong sales growth during Q2 2016, which was largely driven by its e-commerce business.
Japan’s Mizuho Plans Saudi Expansion as Aramco IPO Tempts Banks (Bloomberg)
Mizuho Financial Group Inc., the fourth-largest lender to Saudi Arabia, is expanding advisory services in the kingdom, as banks jockey for a role in Saudi Aramco’s expected $100 billion initial public offering.
From An Industrial Economy To A Paper Economy – The Stunning Decline Of Manufacturing In America (The Economic Collapse)
Why does it seem like almost everything is made in China these days? Yesterday I was looking at some pencils that we had laying around the house and I noticed that they had been manufactured in China.
LG's Amazon Echo competitor will have Alexa functionality (BI Intelligence)
LG’s SmartThinQ, a competitor to Amazon’s popular Echo device, will have third-party functionality from Amazon’s Alexa voice assistant, according to TechCrunch.
Dubai Said to Work With Citigroup on Sale of Bank Muscat Stake (Bloomberg)
Dubai Financial Group LLC is working with Citigroup Inc. to find a buyer for its stake in Omani lender Bank Muscat SAOG after the sale was triggered by an agreement with creditors, according to people familiar with the matter.
Goldman Sachs Says Fed Interest Rate Increase Is Imminent (Fortune)
Yellen May Produce A September Surprise
Investors are in for a rude awakening in just a few weeks, according to Jan Hatzius, Chief Economist with Goldman Sachs.
U.S. Index Futures Little Changed as Stocks Hover Near Record (Bloomberg)
U.S. index futures were little changed, with equities near a record, as investors speculated on the direction of Federal Reserve monetary policy after mixed economic reports.
The US Federal Reserve has created a 'false economy', Trump says (The Guardian)
The Republican presidential nominee, Donald Trump, who has previously accused the Federal Reserve of keeping interest rates low to help Barack Obama, said on Monday that the US central bank had created a “false economy” and that interest rates should change. His Democratic rival, Hillary Clinton, seized on the remarks as proof that Trump is not presidential.
Maybe Supply-Side Economics Deserves a Second Look (Bloomberg)
Since the Great Recession, macroeconomic discussion has been dominated by discussions of aggregate demand, and how to create more of it through monetary and fiscal policies.
It’s How Saudis Cope With Oil Below $50 That Spurs Stocks: Chart (Bloomberg)
Stock investors are more interested in how the world’s biggest crude exporter is handling its finances with oil below $50 a barrel than the daily rise and fall of the commodity’s price, Shiv Prakash, a senior research analyst at NBAD Securities LLC, said in an e-mailed note this week.
Zuma’s Nephew to Pay $1.6 Million for South African Mine Ruin (Bloomberg)
Khulubuse Zuma, a nephew of President Jacob Zuma, agreed to pay 23 million rand ($1.6 million) to settle a lawsuit that found him partly responsible for the destruction of gold-mining assets near Johannesburg.
Politics
Right-Wing Outlet: Donald Trump May Be A Messiah (Right Wing Watch)
Four years after predicting that the Bible forecasted a Mitt Romney presidency, WorldNetDaily is now promoting a rabbi’s claim that Donald Trump is a messiah who will save America and defend Israel.
All Eyes Are on Chris Christie as Trial in Bridge Scandal Starts (NY Times)
It might be easy to forget, now that he has endorsed and defended Donald J. Trump to the ridicule and anger of fellow Republicans he called friends, that Gov. Chris Christie of New Jersey was himself once a leading, if not the leading, presidential hopeful in his party.
Trump: 'I'll release my tax returns immediately' if Hillary releases her deleted emails (Business Insider)
Donald Trump appears to have left an opening on the issue of releasing his tax returns.
In an interview with Fox News' Bill O'Reilly on Tuesday, Trump asserted that he would release his tax returns if Hillary Clinton releases emails deleted from a private server she used during her time as US secretary of state.
Hillary Clinton's campaign fires back at Trump's 'presidential look' jab (Business Insider)
“This isn’t the first time Donald Trump has had a problem looking at someone different from himself and actually seeing them,” Hillary for America Deputy Communications Director Christina Reynolds wrote in a statement on Tuesday.
Angela Merkel defends immigration policy after election blow (The Guardian)
Angela Merkel has staunchly defended her government’s immigration policy following dramatic gains by the anti-refugee Alternative für Deutschland in regional elections, and said traditional parties have a joint responsibility to tackle the rise of the right.
After insult, U.S. and Clinton call for Duterte to show respect (Reuters)
The U.S. State Department and Democratic presidential candidate Hillary Clinton on Tuesday stressed the need for ties with the Philippines to be based on mutual respect, after Manila's new leader raised worries about the future of the key alliance by calling President Barack Obama a "son of a bitch."
House seats rarely flip from one party to the other (Pew Research Center)
With Election Day 2016 a little over two months away, many political analysts are projecting Democrats to gain seats in both the House and Senate.
Poll: Nine weeks out, a near even race (CNN)
Washington (CNN) Donald Trump and Hillary Clinton start the race to November 8 on essentially even ground, with Trump edging Clinton by a scant two points among likely voters, and the contest sparking sharp divisions along demographic lines in a new CNN/ORC Poll.
Technology
Apple’s New iPhones Arrive, as Glow Fades (The Wall Street Journal)
As it nears its 10th year, the iPhone is maturing.
Apple Inc. on Wednesday will introduce new versions of its flagship smartphone, but they likely won’t include the kind of significant new features that Apple consumers have come to expect every other year.
Satellites can now predict which of the world's tropical forests might be in trouble (Digital Trends)
Satellites are great for communication, weather forecasting, and a number of other activities.
Mercedes Equips Delivery Van With Robotic Carrier Pigeons (Bloomberg)
Mercedes-Benz is looking at mounting automated flying drones onto a new line of electric vans as part of a 500 million-euro ($562 million) investment aimed at speeding delivery times for online orders.
Volkswagen to build electric cars in China (CNN Money)
Volkswagen is teaming up with a Chinese automaker to produce electric and hybrid vehicles in the country.
The German firm announced Wednesday that it has signed a preliminary agreement with Anhui Jianghuai Automobile (JAC Motor) that could lead to a new joint venture.
This Simple Indian Irrigation Tech Is Helping Farmers Hit Hardest By Climate Change & Drought (Forbes)
Across much of India, farmers are struggling to adapt as their crops fail season after season as a result of increasingly unpredictable weather, of floods and droughts. In June, like many people in the parched state of Maharashtra, Suraj Patil was hoping for the skies to open up and ease the state’s poorest rainy season in 40 years.
10 things in tech you need to know today (Business Insider)
Good morning! Here's the technology news you need to know this Wednesday.
America’s airline regulator, the Federal Aviation Authority (FAA), is considering banning the Samsung Galaxy Note 7 from all flights.
Health and Life Sciences
Sorry Kids: Docs Urge Flu Shots, Not Nasal Spray, This Year (Associated Press)
WASHINGTON (AP) — Kids may get more of a sting from flu vaccination this fall: Doctors are gearing up to give shots only, because U.S. health officials say the easy-to-use nasal spray version of the vaccine isn't working as well as a jab.
Bacteria lurking in blood could be culprit in countless diseases (New Scientist)
Could microbes be to blame for a host of diseases we thought they had nothing to do with? Researchers have found that bacteria in the blood of healthy people may help trigger strokes and heart attacks, and perhaps also contribute to conditions like Alzheimer’s disease, diabetes and arthritis.
Life on the Home Planet
NASA's Trip to an Asteroid Could Reveal the Origins of Life on Earth (Gizmodo)
Tomorrow night, an asteroid-bound mission will launch towards a shadowy space rock, Bennu. There, it will scoop up a bit of dirt and deliver it back to us, all without ever attempting a landing.
Austria threatens to sue Hungary over migrants (Reuters)
Austria's interior minister threatened on Wednesday to sue Hungary if it refused to take back migrants who had crossed their shared border, as political tensions mounted over immigration before presidential elections.
The U.S. Sent Another $1.3 Billion to Iran After Hostages Were Released (Fortune)
The controversial $400 million payment that the U.S. sent to Iran in January, just as four American hostages were released—a planeload of Euros, Swiss Francs and other currencies—was only the first of three American cash deliveries to the country, the Obama administration reportedly told lawmakers on Tuesday.
Work on Calais wall to shut out migrants to start this month (Reuters)
Work on building a wall along the approach road to the French port of Calais to try to stop migrants from jumping aboard trucks bound for Britain will begin this month, British officials said.
Sunken British Submarine Found Off the Coast of Denmark (Gizmodo)
On April 10, 1940, British submarine HMS Tarpon and its crew of 50 were sent to Norway to intercept Nazi merchant vessels. They were was never heard from again.
Paris terror arrest after gas tanks found in Notre Dame car (BBC)
Paris police have arrested a man on the terrorism watch list after his car was found near the Notre Dame Cathedral with seven gas cylinders inside.
Rio Paralympics 2016: Brazil set for opening ceremony following troubled preparations (BBC)
The Rio Paralympics will get under way later with a colourful opening ceremony watched by millions worldwide, following troubled preparations.
