Financial Markets and Economy
German 10-Year Bonds Decline After ECB Maintains Monetary Policy (Bloomberg)
Germany’s government bonds fell for the first time in four days after the European Central Bank made no changes to its key interest rates or asset-purchase program.
Forty years of indexing: from folly to fear (Abnormal Returns)
True, lasting and real innovations are rare in the financial services industry. Historically financial innovations have at some point come back to bite the markets (and economy).
Brexit tax: Brits will pay 11% more for an iPhone 7 (CNN Money)
Brits wanting to buy the new iPhone will have to dig a lot deeper into their pockets. And it's all down to Brexit.
In the U.S., the iPhone 7 will sell for the same amount as the iPhone 6S when it was released — $649 without tax.
Airbnb Promotes Efforts to Curb Rental Discrimination (The Wall Street Journal)
Airbnb is taking steps to promote more inclusive lodgings on its site after facing accusations from renters who say they were discriminated against by hosts because of race or other characteristics.
Kazakh Premier Shifted to Top Security Post as Economy Struggles (Bloomberg)
Kazakhstan’s president dismissed his prime minister Karim Massimov after two years in the role as failed attempts to jump start the economy have sparked unrest in the central Asian nation.
Petrobras Completes Pipeline Sale to Brookfield-Led Group (Bloomberg)
Petroleo Brasileiro SA completed negotiations to sell a natural gas distribution network to a group led by Brookfield Asset Management Inc. as it pursues an aggressive divestment strategy to reduce debt.
Crude Soars Above $47 After Biggest Inventory Draw Since 1999 (Zero Hedge)
Following last night's API-reported 12mm barrel drawdown (the most since 1999) – likely due to Gulf shut-ins due to storms – EIA reports an even bigger 14.5 million barrel draw (likely due to Tropical Storm Hermine).
Where are all the startups? U.S. entrepreneurship near 40-year low (CNN Money)
Being the next Mark Zuckerberg requires Americans to be gutsy and start companies. Lately, they're not doing it.
New business creation in the U.S. (a fancy way of saying "startups") is at nearly a 40-year low.
Brazil Real Climbs as ECB and Inflation Boost Carry Trade Appeal (Bloomberg)
Brazil’s real rose after an inflation report bolstered the case for interest rates to remain high for a longer time and as the European Central Bank kept borrowing costs at historic lows.
Stocks: 6 things to know before the open (CNN Money)
Let's skip the pleasantries and get straight to it.
Chinese Central Bank Crushes Yuan Shorts, Launching Bitcoin Buying Spree (Zero Hedge)
With the Yuan having traded within fractions of what many consider a key psychological level for the USDCNY at 6.70, many traders expected that following the just concluded G-20 meeting in China, the PBOC would finally relent in its devaluation defense, and let the currency slide on through to the other side.
Think Twice Before Starting That New Division (Forbes)
It’s fun to watch the cable companies lose subscribers as people opt out of cable in favour of handpicking content directly from providers like MLB.com, HBO NOW, etc. The only reason it seems anyone needs cable these days is for live sports, so the broadcast rights for everything from baseball to football to billiards is going through the roof.
Gasoline Glut Threatens a Crude-Oil Rally Fueled by Car Travel (The Wall Street Journal)
Surging demand from drivers in the richest countries helped power a big rally in crude this year. But many analysts say that surge is ending.
Global stocks up slightly, yields down on subdued Fed hike expectations (Reuters)
A gauge of global equity markets was slightly higher after touching its highest level in over a year on Wednesday and U.S. Treasury yields fell for a second session as expectations for a rate hike by the U.S. Federal Reserve remained subdued.
Oil up nearly 2 percent on possible production freeze, inventory data eyed (Reuters)
Oil prices rose 1.5 percent on Wednesday as the market focused on the possibility that the world's top producers would agree on an output freeze.
Dollar Slides Versus Yen as Prospect of September Fed Hike Dims (Bloomberg)
The dollar slid to the lowest level in almost two weeks versus the yen after a report Tuesday showed that U.S. service industries expanded at the slowest pace in six years, dimming prospects the Federal Reserve will increase interest rates this month.
U.S. Considers HSBC Charge That Could Upend 2012 Settlement (Bloomberg)
U.S. prosecutors are considering a criminal charge against a unit of HSBC Holdings Plc related to conduct on its foreign-exchange desk, according to two people familiar with the matter, imperiling an earlier deal that let the bank avoid prosecution.
Politics
Forget Trump's Presidential Tax Returns (Forbes)
Donald Trump once offered $5 million for President Obama’s birth certificate. More recently, a Republican offered $5 million for Donald Trump’s tax returns.
Clinton Backs Bill to Protect Benefits for Ex-Coal Miners (Associated Press)
WASHINGTON (AP) — Hillary Clinton is supporting a bill that would protect health-care and pension benefits for about 120,000 former coal miners and their families, an issue that has divided Senate Republicans.
Debate Advice for Donald Trump and Hillary Clinton (TIME)
Hillary Clinton and Donald Trump will face each other in the first presidential debate on Sept. 26. The event could be a make-or-break moment for each of them.
Merkel strikes back, defends migrant policy after election rout (Reuters)
Chancellor Angela Merkel hit back at critics of her open-door migrant policy on Wednesday after her conservative CDU party was humiliated in a regional vote, urging all parties to fight the anti-immigrant Alternative for Germany (AfD) with facts.
Duterte tells regional leaders, U.S. not to lecture Philippines on rights (Reuters)
Philippines President Rodrigo Duterte on Thursday defended his country's human rights record at a regional summit in Laos, urging East Asian leaders and the United States to help Manila eradicate the scourge of illicit drugs.
Trump in TV event with Clinton, says Putin better leader than Obama (Reuters)
Donald Trump declared on Wednesday that Russia's Vladimir Putin had been a better leader than U.S. President Barack Obama, as the Republican presidential nominee used a televised forum to argue he was best equipped to reassert America's global leadership.
Undecided GOP-Leaning Voters Provide an Opening for Donald Trump (The Wall Street Journal)
A substantial bloc of Republican-leaning voters has declined so far to back either major-party candidate for president, suggesting Donald Trump has an opportunity to make the race more competitive by persuading them to return to the GOP.
Technology
These are the flying taxis of the future (Business Insider)
Forget hailing that self-driving Uber, you could be riding a flying taxi to the airport sooner than you think.
From "Back to the Future"-esque flying cars you can own to flying taxi systems, these new transport systems are slated to arrive sooner than you think.
How Elizabeth Holmes's House of Cards Came Tumbling Down (Vanity Fair)
In a searing investigation into the once lauded biotech start-up Theranos, Nick Bilton discovers that its precocious founder defied medical experts—even her own chief scientist—about the veracity of its now discredited blood-testing technology.
One of Sony’s most iconic headphones are a great deal for the next few hours (Business Insider)
Sony has released tons of headphones over the years, but none are as iconic as the MDR-V6's.
Apple unveils iPhone 7 but some still waiting for iPhone 8 (Reuters)
Apple Inc (AAPL.O) unveiled an iPhone 7 with high-resolution cameras and no headphone jack at its annual launch event Wednesday, though the biggest surprise was the debut of a three-decade-old Nintendo game franchise, Super Mario Bros, on the smartphone.
Health and Life Sciences
Your distinctive hairprint can identify you even when DNA fails (New Scientist)
Never before has splitting hairs been so useful. Analysing the proteins in hair could provide a new way to identify people when DNA sequencing fails.
Experimental drug fights cancer by 'waking up' the immune system (Science Alert)
Scientists are hailing the discovery of a new type of drug shown to be effective against one of the deadliest forms of cancer – metastatic pancreatic cancer – and with no obvious side-effects.
Life on the Home Planet
Flooding of Coast, Caused by Global Warming, Has Already Begun (NY Times)
NORFOLK, Va. — Huge vertical rulers are sprouting beside low spots in the streets here, so people can judge if the tidal floods that increasingly inundate their roads are too deep to drive through.
Disney World scanning toddlers' fingers to stop ticket fraud (CNN Money)
Walt Disney World is now requiring young children to have their fingers scanned to enter the Magic Kingdom and its other theme parks.
Syrian army and allies regain important Aleppo district: monitor (Reuters)
Syria's army and its allies have regained control over the whole Ramousah district of Aleppo, a monitor and pro-government media reported on Thursday, building on an advance last week that reimposed a siege on rebel areas.
Israeli and Palestinian Leaders Agree ‘In Principle’ for Talks in Moscow (AP, TIME)
(MOSCOW) — Russia’s Foreign Ministry announced on Thursday that Israeli and Palestinian leaders have agreed “in principle” to meet in Moscow for talks in what the Russians hope will relaunch Mideast peace talks after a more than two-year break.
Work to begin on 'big wall' at Calais to block migrants (The Telegraph)
Construction is soon to begin on a "big new wall" in Calais following a surge in the number of migrants trying to get across the Channel, the Government has announced.
Syrians begin returning home, two weeks into Turkish offensive (Reuters)
A group of 292 Syrians went back to the Syrian town of Jarablus from Turkey on Wednesday, marking the first formal return of civilians since Ankara launched a military incursion two weeks ago to try to secure the border region, a Turkish official said.
Hanjin’s Ghost Ships Seek Havens With Food and Water Starting to Dwindle (Bloomberg)
South Korea’s cash-strapped Hanjin Shipping Co. is adrift at sea — and in more ways than one.
