Silver as an investment

Frontrunning: August 29

  • Central Bankers Spurn Call for Radical Approach at Jackson Hole (BBG)
  • Turkey deepens Syria offensive, at odds with U.S. (Reuters)
  • Another red line: U.S. says clashes between Turkish forces and opposition in Syria ‘unacceptable’ (Reuters)
  • Iceland Raises Alarm After Largest Volcano Starts to Rumble (BBG)
  • On Syria, Democrats look to deflect the conversation (AP)
  • European Stocks Fall as Fed Outlook Lifts Dollar; Oil Declines (BBG)
  • Beneath Yuan’s Quiet, China Worries Rise (WSJ)
  • Massive BOJ Stimulus Shock Looms, Says $2 Trillion UBS Investor (BBG)
  • Merkel’s deputy breaks ranks over refugee policy (FT)
  • Blackstone Unleashes Cash Hoard in Texas Shale Oil Land Grab (BBG)
  • China wants a successful G20 but suspects West may derail agenda (Reuters)
  • Draghi Silence Puts Numbers in Spotlight Before ECB Meeting (BBG)
  • Demise of Direct Match Shows Bank Death-Grip on Treasury Market (BBG)
  • German trade body cuts forecast for 2016 export growth (Reuters)
  • Hong Kong July retail sales fall for 17th straight month (Reuters)
  • The Frozen Concentrated Orange-Juice Market Has Virtually Disappeared (WSJ)
  • Police Arrest Man Thought to Be China’s Jack the Ripper (NYT)
  • European Commission says ‘ball still rolling’ on trade deal with U.S. after German comments (Reuters)
  • Britain will retain access to single market and curb migration under plans considered by Theresa May (Telegraph)
  • UK must pay for Brexit or EU is in ‘deep trouble’, says German minister (Guardian)

 

Overnight Media Digest

FT

– Sigmar Gabriel, German Chancellor Angela Merkel’s deputy, has attacked her handling of the migrant crisis, after which Merkel was forced to defend her refugee policy.

– London’s new “super sewer”, one of the UK’s largest infrastructure projects, is being investigated by the National Audit Office over its “unusual” financial structure. Construction is scheduled to commence in the next few months.

– Hinkley Point nuclear power station supporters launched a last-minute push for approval as Prime Minister Theresa May is nearing a decision to stop or give a go ahead to the 18 billion pound ($23.61 billion) project. UK union leaders called to end the “faffing” over a scheme they say is crucial to keep Britain’s power supply on.

– PZU is confident about reaching a deal to acquire UniCredit’s Bank Pekao by the end of October. Insurer PZU and Italy’s largest bank Unicredit are haggling over a price for the deal.

 

NYT

– A federal court ruling may halt the spread of municipal high-speed internet providers, which often serve households and businesses where commercial cable and telecom firms have been unwilling to go. http://nyti.ms/2bL0kgI

– Charles Osgood, whose distinct voice and dapper broadcasting style has made the CBS show “Sunday Morning” a weekly ritual for many viewers, will be leaving at the end of September after 22 years as the program’s anchor. http://nyti.ms/2btxMLd

– The Obama administration’s decision to bar ITT Educational Services was the latest step in the federal government’s crackdown on for-profit schools that have vacuumed up billions of dollars in government grants and loans but failed to deliver on promised training and jobs. http://nyti.ms/2c0kLat

– Foreign entrepreneurs building new companies in the United States could soon gain a new immigration option that would grant them temporary entry for up to five years, under a rule proposed on Friday by the Department of Homeland Security. The proposal, which does not require congressional approval, would allow immigration officials to admit entrepreneurs case by case. http://nyti.ms/2bnOjjF

 

Britain

The Times

– Britain may be better off outside the European Union, the former governor of the Bank of England Mervyn King said, as he warned that interest rate cuts would have little impact on the country’s prospects. http://bit.ly/2bSChQx

The Guardian

– Vincent de Rivaz, the chief executive of EDF Energy, said critics of the planned Somerset reactors risked “losing sight of bigger picture by overlooking the positive impact and importance of this investment for Britain.” http://bit.ly/2bSCHGp

– A rise in consumer spending helped the UK economy power ahead in the months running up to the EU referendum, official statisticians have said. The Office for National Statistics confirmed a previous estimate that GDP growth picked up to 0.6 percent in the second quarter from 0.4 percent in the first quarter. http://bit.ly/2bSD7N0

Telegraph

– Chris Grayling, the new transport secretary has met with the bosses of Heathrow and Gatwick airports for the first time to hear their arguments for expansion, signalling the government is edging towards the controversial decision about where to build a new runway. http://bit.ly/2buMO09

Sky News

– Philip Green is seeking assurances that regulators will abandon a probe into BHS’s vast pension deficit if he makes a “voluntary” financial contribution to the retirement pots of thousands of the collapsed chain’s former employees. http://bit.ly/2bSDPcW

The Independent

– Fiat Chrysler’s Chief Sergio Marchionne said he sees Samsung as a potential partner amid interest from several potential buyers of its Magneti Marelli auto-parts unit but he didn’t confirm talks with the Korean company. http://ind.pn/2bSDreB

– Bahrain Islamic Bank is seeking to sell about 82 million dinars ($217.93 million) of unproductive assets such as land and shares as part of a five-year plan to boost growth. http://ind.pn/2bSD9o8