Financial Markets and Economy
Ruble Dragged Down by Oil as Traders Weigh Friday Rates Meeting (Bloomberg)
The ruble resumed its slide with oil as the link between Russia’s currency and its key export at almost the strongest in five months.
Remember When Investors Were Worried About Emerging Market Debt? (Bloomberg)
In early 2016, EM asset prices tanked as investors fretted about developing countries' and corporations' ability to service their debts, especially those denominated in U.S. dollars, with warnings emanating the Bank for International Settlements and prominent analysts.
CYBG Falls as U.K. Growth Outlook Undermines New Strategic Plan (Bloomberg)
CYBG Plc, the consumer lender spun off by National Australia Bank Ltd., fell the most in two months as the U.K. bank lowered loan growth prospects and indicated it may take a year longer than expected to free capital from its balance sheet.
Confidence Waning in Central Banks’ Ability, Rogoff Says (Bloomberg)
Markets are losing confidence in the ability of central banks to boost inflation and there is a limit to how much quantitative easing programs can accomplish, Harvard University Professor of Economics Kenneth Rogoff said.
BAML SURVEY: Stocks haven't been this overvalued since right before the tech bubble burst (Business Insider)
Investors who think stocks and bonds are overvalued are in a record majority compared to those who think they're not, according to Bank of America Merrill Lynch.
VIX Surges Back Above 17 As 'Brainard-Bounce' Evaporates (Zero Hedge)
The post-Brainard-bounce has been erased…
Wall Street dragged lower by energy, financials (Reuters)
Wall Street opened lower on Tuesday, with energy stocks falling on lower oil prices and financials hit by diminished prospects of an interest rate hike in the near term.
Step Aside London Whale: Goldman Is Now Using Retail Deposits To Fund Investments (Zero Hedge)
One month ago we last checked in to see how Goldman's brand new FDIC-insured depositor operation was doing: we were surprised to find just how much of a success it had become.
Czech Central Banker Quashes Bets on Earlier Koruna Cap Exit (Bloomberg)
Czech central bank Governor Jiri Rusnok is standing by the regulator’s outlook for scrapping its unconventional monetary stimulus in the middle of next year or later, damping speculation that it might happen sooner.
IEA Changes View on Oil Glut, Sees Surplus Enduring in 2017 (Bloomberg)
The surplus in global oil markets will last for longer than previously thought, persisting into late 2017 as demand growth slumps and supply proves resilient, the International Energy Agency said.
Divided Federal Reserve Is Inclined to Stand Pat (The Wall Street Journal)
Federal Reserve officials, lacking a strong consensus for action a week before their next policy meeting, are leaning toward waiting until late in the year before raising short-term interest rates.
Soaring Student Debt Prompts Calls for Relief (The Wall Street Journal)
The industry warnings are urgent and often dire: The housing market could stall. Marriages are being postponed. Workers won’t have the savings to retire. The nation’s food supply will be disrupted.
Global stocks edge up as Fed view only partly soothes markets (Reuters)
European shares rose modestly and the dollar firmed on Tuesday after a Federal Reserve official argued against raising U.S. interest rates too quickly, though any sense of calm in markets looked fragile.
US Think Tank Warns That Australia Is About 6 Weeks Away From Housing Collapse (Zero Hedge)
Over the past couple of months, we have written frequently about the impact of Chinese money laundering operations on home prices in a couple of large cities around the globe.
Companies
Time Inc. replaces CEO in surprise move (CNN Money)
Rich Battista, the head of the magazine publisher's U.S. titles, is taking over for Joe Ripp, "effective immediately," according to a statement from the company.
Berkshire is accused in New York lawsuit of workers' compensation 'siphoning' (Reuters)
Berkshire Hathaway Inc has been sued by a New York bicycle courier company over an alleged illegal scheme to cheat employers buying workers' compensation policies.
Sports Direct should cut ties with warehouse worker agency, MPs say (The Guardian)
MPs have called on Sports Direct to end its relationship with Transline, which supplies workers for the retailer’s Shirebrook warehouse, over fears that the employment agency misled a parliamentary inquiry.
J.P. Morgan Chase CEO Dimon Willing to be Made President (Fortune)
J.P. Morgan JPM -1.71% Chase CEO Jamie Dimon wants to mount a presidential campaign.
But he won’t do it, the Wall Street executive said in an interview with the Carlyle Group’s co-founder, David Rubenstein during a Monday lunch at the Economic Club in Washington D.C.
Politics
Trump luxury hotel opens just blocks from the White House (Reuters)
Republican presidential nominee Donald Trump opened the latest outpost in his real estate empire on Monday, a luxury hotel in a historic building five blocks from the White House that underwent a two-year, $200 million renovation.
Clinton's Lead Narrows Among Independents, Voters Nationally (NBC News)
Hillary Clinton's national lead over Donald Trump continues to narrow. Clinton now leads Trump 48 percent to 44 percent, a decline of 2 points since last week, according to results from the latest NBC News|SurveyMonkey Weekly Election Tracking Poll.
Duterte’s Bad-Boy Act Changes Asian Views of the Philippines (Bloomberg)
Philippine President Rodrigo Duterte stepped onto the world stage last week with the swagger of a bad-boy rock star. Despite a patchy debut, including a rebuff from the U.S. president, Duterte has shown no loss of appetite for confrontation.
Ken Clarke tells constituents: 'EU referendum is not binding' (The Guardian)
Ken Clarke has written to constituents who have contacted him with concerns about Britain’s vote to leave the European Union to reassure them: “The referendum is not binding.”
Technology
What Is a Genesis? I Tested the 2017 G90 From Hyundai’s Luxury Brand (Bloomberg)
Did you watch any sports this past weekend? If so, you may have noticed ads for what looks like a new brand of car, the American-sounding Genesis. Potentially you’ve seen one on the road, with that mysterious winged logo that kind of looks like Aston Martin’s.
China to spend $1 trillion on 6,810 new aircraft (CNN Money)
Chinese airlines will spend more than $1 trillion on new aircraft over the next two decades as they seek to meet booming demand for air travel, according to a new forecast by Boeing.
Samsung won't be the last to have exploding batteries (CNN Money)
A Jeep in Florida went up in flames after the Samsung Galaxy Note 7 smartphone was left charging in the car. Airlines have warned passengers not to bring the device on planes, and the U.S. issued a dire warning to Samsung customers to power down the phones"as soon as possible."
You Can Now Send A Payment To Anyone In The World Via iMessage (Forbes)
In its quest to become a go-to app for global peer-to-peer payments, Circle is now, with the arrival of iOS 10, available on iMessage, giving iOS 10 users the ability to send U.S. dollars, euros, pound sterling and Bitcoin to anyone via Apple’s texting service.
Health and Life Sciences
Scientists just got closer to understanding the genetic roots of crime — and it's making them nervous (Business Insider)
There is no easy explanation for why some people commit crimes and others don't.
Similarly, there's no easy answer to the question of why some people end up in jails and prisons while others do not.
How the Sugar Industry Shifted Blame to Fat (NY Times)
The sugar industry paid scientists in the 1960s to play down the link between sugar and heart disease and promote saturated fat as the culprit instead, newly released historical documents show.
These are the drugs that could end the opioid crisis (Business Insider)
Opioid painkillers are killing people. Lots of people.
Not only do they slow down breathing, they also act on the same brain systems as heroin. As such, prescription painkillers carry serious risks, from overdose to, in rarer cases, addiction.
The Possible Link Between Bacteria and Chronis Disease? (Popular Science)
Chronic diseases are complex and may arise from a number of different triggers. But one common factor seems to be the development of long term inflammation.
Life on the Home Planet
How forensic science can stop slaughter of endangered wildlife (New Scientist)
With wildlife crime escalating, maybe it’s time to revamp the international treaty aimed at combatting it. Forensic scientists are proposing a series of changes to the Convention on the International Trade in Endangered Species (CITES) to allow new technologies to be unleashed on the problem.
Israel Denies Claims That Syria Shot Down Warplane and Drone (NY Times)
The Israeli military said on Tuesday that Syrian forces had fired two surface-to-air missiles at Israeli aircraft that were targeting artillery positions in the Syrian Golan Heights overnight, but it categorically denied a claim by the Syrians that they had shot down an Israeli warplane and a drone.
Super Typhoon Meranti, with 185-mile-per-hour winds, is about to hit Taiwan (Mashable Asia)
Super Typhoon Meranti reached an extraordinary peak intensity on Tuesday morning eastern time, becoming the strongest storm recorded anywhere on the planet this year, with estimated maximum sustained winds of 185 miles per hour.
August ties with July as hottest month on record (The Guardian)
In what has become a common refrain this year, last month ranked as the hottest August on record, according to NASA data released Monday.
California Today: Fighting Fire With Fire (California Today, NY Times)
If you think it’s been a fiery year, we’re only just getting started.
Since January, the number of fires threatening areas guarded by California’s Department of Forestry and Fire Protection has jumped roughly 23 percent compared to the five-year average
