Silver as an investment

Frontrunning: September 13

  • IEA Changes View on Oil Glut, Sees Surplus Enduring in 2017 (BBG)
  • Futures dip with oil as investors assess rate hike chances (Reuters)
  • Hilsenrath – Divided Federal Reserve Is Inclined to Stand Pat (WSJ)
  • ‘I didn’t think it was a big deal,’ Clinton says of pneumonia bout (Reuters)
  • Clinton’s Lead Narrows Among Independents, Voters Nationally (NBC)
  • Libor’s Reaching Point of Pain for Companies With Big Debt Loads (BBG)
  • Trump luxury hotel opens just blocks from the White House (Reuters)
  • Soaring Student Debt Prompts Calls for Relief (WSJ)
  • U.S. bombers fly over South Korea in show of force after nuclear test (Reuters)
  • Iran threatened to shoot down US Navy spy planes in the Persian Gulf (Fox)
  • S.Korea’s biggest earthquake triggers nuclear safety concerns (Reuters)
  • Libor’s Reaching Point of Pain for Companies With Big Debt Loads (BBG)
  • Record new U.S. military aid deal for Israel to be signed in days (Reuters)
  • Pimco Bond Fund Cuts Bet as Dimon to Gundlach Warn on Rates Path (BBG)
  • Chinese Debt Soars Into Space (WSJ)
  • High Frequency Traders Elbow Their Way Into the Currency Markets (BBG)
  • Oprah to Help Weight Watchers Find New Leader After CEO Resigns (NYT)
  • Some of the Biggest Hedge Funds Are Bleeding Cash (BBG)

 

Overnight Media Digest

WSJ

– 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. http://on.wsj.com/2cmvUmq

– Thousands of convicted criminals have hepatitis C, an infectious disease that is one of the country’s biggest killers, but only the sickest qualify for medicines because they are so expensive. http://on.wsj.com/2cHWWEm

– Wells Fargo & Co has told some employees to stop cross-selling products to customers, while the Senate Banking Committee’s Republican majority said late Monday it plans a hearing into the bank’s sales practices. http://on.wsj.com/2crHr2u

– A cease-fire took formal effect across Syria after sundown on Monday amid continued fighting, as the U.S. and Russia sought seven straight days of relative calm to trigger a broader peace initiative and military cooperation. http://on.wsj.com/2cRfhmY

– Thursday night’s matchup between the New York Jets and Buffalo Bills has more at stake than two old foes’ bragging rights. The football game is a crucial test for Twitter Inc , which is streaming the broadcast as part of an urgent revival effort by Chief Executive Jack Dorsey to regain support from advertisers. http://on.wsj.com/2c4C6O0

– Democratic presidential nominee Hillary Clinton said she was feeling much better after a pneumonia diagnosis and promised to release additional medical records this week, moving to contain concerns about her well-being and forthrightness after she stumbled exiting a 9/11 ceremony. http://on.wsj.com/2cRjneH

Canadian fertilizer giants Agrium Inc and Potash Corp of Saskatchewan Inc confirmed plans to merge on Monday, in a deal that would create a crop-nutrient giant valued at about $27 billion. http://on.wsj.com/2cSRUbk

– Weight Watchers International Inc said its chief executive had resigned and the company’s most-famous director, Oprah Winfrey, will help select his successor. http://on.wsj.com/2crysS8

– An Iranian military officer said it was “untrue” that Iranian vessels had veered dangerously close to American warships in and around the Persian Gulf and said the claims stemmed from Washington’s fear of Iranian power. http://on.wsj.com/2cjINi3

– Amazon.com Inc Chairman Jeff Bezos, renowned for keeping quiet about strategic goals for his fledgling space company Blue Origin LLC, on Monday reversed course by disclosing plans for a giant, reusable rocket – named after iconic 1960s astronaut John Glenn – and powerful enough to blast people as well as satellites into high-Earth orbit. http://on.wsj.com/2cmx81f

– HP Inc agreed to buy Samsung Electronics Co’s printer business for $1.05 billion, a deal designed to bolster the Silicon Valley company’s offerings in the market for high-volume devices that handle printing and copying for office work groups. http://on.wsj.com/2clpZPs

 

FT

Minouche Shafik resigned as deputy governor of the Bank of England two years into a five year term to become director of the London School of Economics.

British retailer Marks & Spencer’s director Laura Wade-Gery has left the company after a year of maternity leave.

Canadian fertilizer producers Potash Corp of Saskatchewan Inc and Agrium Inc agreed to merge in a deal that will create a new company with a market capitalisation of almost $30 billion.

HP Inc said it would buy Samsung Electronics Co Ltd’s printer business for $1.05 billion.

 

NYT

– The Saudi national oil company, Saudi Aramco, aims to strengthen its position on the Gulf of Mexico coast by buying a large oil refinery in the Houston Ship Channel that LyondellBasell is putting up for sale. http://nyti.ms/2chbS0Y

– Lael Brainard, a Federal Reserve governor and a leading proponent of the Fed’s efforts to stimulate the economy, said in a speech on Monday that she still favored “prudence” in raising interest rates despite recent signs of economic progress. http://nyti.ms/2chaZWd

– Apple plans to release a free coding education app on Tuesday that it developed with middle-school students in mind, in the latest salvo among technology companies to gain share in the education market and to nurture early product loyalty among children. http://nyti.ms/2chcnYT

– Two of the world’s largest crop fertilizer makers have agreed to combine in the latest farming industry deal. Agrium and the Potash Corporation of Saskatchewan announced their all-stock merger on Monday after weeks of speculation. http://nyti.ms/2chbIqe

– The hedge fund that helped prod Yahoo into selling its core business has found a new target for its brand of shareholder activism: the drug maker Perrigo, Starboard Value, has taken a 4.6 percent stake in the pharmaceutical company and has urged it to take steps to bolster its sagging stock price, according to a letter sent to Perrigo’s board. http://nyti.ms/2chblw1

– Oprah Winfrey will help Weight Watchers International Inc pick a new leader, the diet company said on Monday, about a year after the media mogul announced she had bought a 10 percent stake in the company. http://nyti.ms/2chbHCz

 

Britain

The Times

Shares in the owner of Primark fell by nearly 11 percent on Monday after it warned that it would take a hit on the fall in sterling rather than push up prices at the discount fashion chain. http://bit.ly/2cnardY

David Cameron stood down as a member of parliament after two months spent watching Prime Minister Theresa May purge his allies and tear up key policies. http://bit.ly/2cnbwT0

The Guardian

J D Wetherspoon Plc, the pub chain, has become the latest British company to offer staff on zero-hours contracts the opportunity to move to permanent hours. http://bit.ly/2cncrTE

The president of the European commission, Jean-Claude Juncker, has launched an investigation into whether his predecessor ,José Manuel Barroso, broke EU rules by taking a job at Goldman Sachs Group Inc. http://bit.ly/2cncleP

The Telegraph

Industrial and commodities group Liberty House is in pole position to buy Tata Steel’s speciality and pipe businesses in a deal that could save close to 2,000 jobs. http://bit.ly/2cmSAE0

The Financial Conduct Authority has raised the amount of money Aberdeen Asset Management must hold as a capital buffer, in the latest sign of heightened scrutiny of the City’s money managers. http://bit.ly/2cnd0N9

Sky News

Blackstone Group LP, Carlyle Group LP and Clayton Dubilier & Rice (CD&R) are examining takeover bids for Doncasters, which makes components used across industries such as aerospace and oil and gas. http://bit.ly/2cneh6V

The Independent

The United States has threatened to place new unilateral sanctions on North Korea, following the east Asian country’s fifth and largest nuclear test on Friday. http://ind.pn/2cnfxHa

The Government will keep key details about Brexit negotiations secret from Parliament, Secretary of State for Exiting the European Union David Davis has warned. http://ind.pn/2cne6Zk