Financial Markets and Economy
S&P 500 Futures Little Changed With Equities at Two-Month Low (Bloomberg)
U.S. stock-index futures were little changed, with a rout showing tentative signs of letting up after three days of renewed volatility left equities at a two-month low.
BOE Builds Brexit Team as Two Senior Directors Shift Roles (Bloomberg)
The Bank of England moved two senior staff members as it builds its team to co-ordinate work relating to Britain’s withdrawal from the European Union.
Traders bemoaning lack of shock, awe in markets finally get some (The Globe and Mail)
Traders who complained all summer about markets stuck in a zombie state are getting what they wanted, and probably will be for a while.
Russia’s High Real Rates Worth It for Fitch in Credibility Boost (Bloomberg)
The toll on Russia’s economy leveled by high real interest rates is worth paying because of the boost to central bank credibility, according to Fitch Ratings.
BOJ to make negative rates centerpiece of future easing: sources (Reuters)
The Bank of Japan will consider making negative interest rates the centerpiece of future monetary easing by shifting its prime policy target to interest rates from base money at its review next week, sources familiar with its thinking say.
Bank of America Official Likens Brexit to Nuclear Waste Move (Bloomberg)
Bank of America Corp.’s president for Europe, Alex Wilmot-Sitwell, said moving employees and derivatives trading activities from London after Brexit would be “fraught with risk” and require a long transition period after the end of the two-year renegotiation.
Dollar eases on uncertainty over BOJ, Fed policy (Reuters)
The U.S. dollar eased from an eight-day high against the yen on Wednesday after skepticism grew that the Bank of Japan would intensify its stimulative monetary policies next week, while uncertainty about Federal Reserve policy pressured the greenback against other currencies.
U.K. Power Prices Soar as South Basks in Late Summer Heat (Bloomberg)
U.K. power prices surged to record levels as unseasonably warm temperatures in the south boosted demand for air conditioning and wind output is forecast to slump.
Stocks Stabilize With Bonds as Metals Rally; Crude Renews Slump (Bloomberg)
U.S. stocks rose amid deals and a rally in Apple Inc., while Treasuries advanced as the rout that’s wiped some $2 trillion off the value of global shares over the past week shows signs of easing. Crude slipped.
There’s a $300 Billion Exodus From Money Markets Ahead (Bloomberg)
With a seismic overhaul of the $2.6 trillion money-market industry weeks away from kicking in, money managers are bracing for a last-minute exodus of as much as $300 billion from funds in regulators’ cross hairs.
Companies
Treasury refuses to hold inquiry into Concentrix tax credits contract (The Guardian)
The Treasury is refusing to hold an inquiry into the failings of outsourcing firm Concentrix, despite complaints from both Tory and Labour MPs about the number of people wrongly deprived of tax credits.
Three ships chartered to troubled Hanjin sold, more on the block (Reuters)
Three ships chartered to Hanjin Shipping Co Ltd (117930.KS) have been sold and two more vessels are up for sale, ship brokers said on Wednesday, kicking off an asset sale sparked by the failure of the world's seventh largest container shipper.
Buffett Loses $1.4 Billion as Wells Fargo Tumbles on Scandal (Bloomberg)
Warren Buffett had $1.4 billion wiped from his fortune Tuesday after Wells Fargo & Co. fell 3.3 percent as the fallout continued from revelations that bank employees had opened more than 2 million accounts without clients’ approval.
Bayer Clinches Monsanto Deal For $66 Billion With Fourth Bid (Bloomberg)
Bayer AG agreed to buy Monsanto Co. in a deal valued at $66 billion, winding up four months of talks to create the world’s biggest supplier of seeds and pesticides.
Ford Sees Financial Results Declining in 2017, Rising in 2018 (Bloomberg)
Ford Motor Co. said it expects “total company results” to decline next year as the automaker increases investment in electric vehicles and new opportunities to strengthen its businesses, before rising again in 2018.
Hanjin Brings One of World's Busiest Shipping Terminals Close to Standstill (Bloomberg)
The Hanjin Shipping Co. terminal at South Korea’s largest port used to be one of the world’s busiest. Dozens of container carriers would line up to ferry boxes to and from the giant cranes that loaded and unloaded the world’s biggest ships.
Gloom Descends on Luxury-Goods Industry (Bloomberg)
The crisis in the global luxury-goods industry deepened after Hermes International SCA abandoned a long-standing forecast and Richemont predicted a profit plunge that Chairman Johann Rupert deemed unacceptable.
Politics
Donald Trump surges ahead in one of the most crucial battleground states (Business Insider)
Donald Trump appears to be making up ground in Ohio, a key battleground state whose support the Republican presidential nominee most likely needs to win the presidency.
Donald Trump, New Team Recast His TV Image (The Wall Street Journal)
Donald Trump installed his third leadership team at a campaign low point on Aug. 16. The next day, his new managers at a meeting in his Trump Tower office in New York suggested the Republican Party nominee visit residents suffering in the Louisiana floods.
Colin Powell Urged Hillary Clinton’s Team Not to Scapegoat Him for Her Private Server, Leaked Emails Reveal (The Intercept)
FORMER SECRETARY OF STATE Colin Powell attempted to discourage Hillary Clinton and her team from using him as a scapegoat for her private email server problems, according to newly leaked emails from Powell’s Gmail account.
New York attorney general opens probe of Trump Foundation (Reuters)
New York Attorney General Eric Schneiderman said on Tuesday he had opened an inquiry into the Donald J. Trump Foundation to ensure the Republican presidential nominee's charity was complying with state laws governing nonprofits.
Are Americans Better Off Under Barack Obama? (The Wall Street Journal)
Americans going to the polls in November will judge whether their lives have improved enough since Barack Obama was elected president during a deep recession.
Kremlin: Obama's Trump criticism anti-Russian, won't foster better ties (Reuters)
The Kremlin said on Wednesday it viewed U.S. President Barack Obama's recent statements on Republican presidential candidate Donald Trump as anti-Russian and said they were unlikely to improve fragile relations between Russia and the United States.
Technology
What it feels like to sit behind the wheel of a self-driving Uber (CNN Money)
About 20 minutes into my ride in a self-driving Uber, I got a nonchalant offer: Did I want to sit behind the wheel?
I'd already seen our Ford Fusion get cut off. And then there was the flatbed that veered into our lane, forcing my cautious test driver to take control and steer us to safety.
The iPhone 7 or Samsung Galaxy S7: Which one should you buy? (Business Insider)
Apple's iPhone 7 and the Samsung Galaxy S7 are arguably the two best phones on the planet now. If you're in the market for a new smartphone and are deciding which one to pickup, here's a little help to make your decision.
A London company designed a pen that draws in 3D (Business Insider)
Renegade is a pen that draws in 3D using recycled plastic bottles. A tool called the ChupaCut shreds bottles into curly tapes, which then melt inside the pen. It was designed by London-based inventor Daniel Edwards.
5 powerful ways social media has forever altered the way we do business (Mashable Asia)
While the original social networking sites were initially designed for connecting people, they’ve ultimately turned into transformational business tools and resources that allow brands to connect with customers in unique ways.
Health and Biotech
A Spoonful of Sugar Helps the Bacteria go down (Popular Science)
There has never been a better time to replenish your gut flora–also known as the living microorganisms stationed in our digestive tracts. You can take your bacteria in a pill, eat them in your “buttery spread”, drink them through a blue straw, or have a doctor stick them directly inside you.
Scientists have accurately modelled a virus invading a cell for the first time (Science Alert)
For the first time, scientists have created an accurate simulation of a virus invading a cell, and say it could lead to anti-viral therapies that are much more effective than the ones we rely on today.
Trying to Forget May Impair Memory (Scientific American)
What do you do when, say, a friendly conversation accidentally triggers a bitter memory? You probably try to put the dark thoughts out of your mind and carry on with the chat.
EpiPen Maker Dispenses Outsize Pay (The Wall Street Journal)
The drugmaker buffeted by the furor over hefty price increases on its lifesaving EpiPen had the second-highest executive compensation among all U.S. drug and biotech firms over the past five years, paying its top five managers a total of nearly $300 million, according to a Wall Street Journal analysis.
Living Eye Implant Uses Lab-Grown Cells to Restore Sight (Singularity Hub)
Our eyes are one of our most complex body parts, made up of numerous delicate cell structures that work together seamlessly to allow us to see. Conditions like far-sightedness, glaucoma, and cataracts are widespread, and it’s no wonder given the fragile nature of the eye’s many components.
Life on the Home Planet
First glimpse of a black hole being born from a star’s remains (New Scientist)
We’ve received a birth announcement from 20 million light years away, in the form of our first ever glimpse of what seems to be the birth of a black hole.
China is about to launch its second experimental space lab and another manned space mission (Reuters)
BEIJING (Reuters) – China will launch its second experimental space laboratory late on Thursday and another manned space mission next month, the government said, part of a broader plan to have a permanent manned space station in service around 2022.
Chinese villagers describe police beatings in 'wild crackdown' on protest (Reuters)
Residents of a Chinese village once seen as a cradle of grassroots democracy were in shock on Wednesday after a "wild crackdown" by police in clashes with protesters which they said led to about 70 people being detained.
