Silver as an investment

Frontrunning: September 15

  • Global stocks struggle for footing after bond slip (Reuters)
  • Mobileye says Tesla was ‘pushing the envelope in terms of safety’ (Reuters)
  • Donald Trump is a problem for the whole world, EU’s Schulz says (Reuters)
  • Stuck on Ship, One Gloomy Hanjin Crew Waits to Learn Its Fate (WSJ)
  • U.K. Approves EDF’s £18 Billion Hinkley Point Nuclear Project (BBG)
  • Apple says initial quantities of iPhone 7 Plus sold out (Reuters)
  • Bank of England Flags Further Rate Cut as It Stands Pat (WSJ)
  • SNB Keeps Rates on Hold as Brexit Fallout Clouds Outlook (BBG)
  • Today’s Bond Market: Wrongly Priced for 30 Years of Wretched Existence (WSJ)
  • The Bond Market Is Flashing a Signal That Traders Haven’t Seen Since 2012 (BBG)
  • How Did G.M. Create Tesla’s Dream Car First? (NYT)
  • How Samsung Botched Its Galaxy Note 7 Recall (WSJ)
  • Saudi prince warns Iran against using force to pursue rivalry (Reuters)
  • Fiscal Policy Makes a Quiet Turn Toward Stimulus (WSJ)
  • Oil Glut Set to Worsen as Nigeria and Libya Fields Restart (BBG)

 

Overnight Media Digest

WSJ

– Hillary Clinton’s campaign on Wednesday released additional medical information about the Democratic presidential nominee, as the health and fitness of the two major-party candidates remained a central focus of the race. http://on.wsj.com/2cfKUE1

– Hacked emails posted on a website with suspected ties to Russian intelligence services show former Secretary of State Colin Powell harshly criticizing both Donald Trump and Hillary Clinton. http://on.wsj.com/2cygRb4

– Iraqi Kurds have pushed forward with renewed vigor to retake land from Islamic State in recent weeks, territory that could be used as bargaining chips in future negotiations they are seeking to achieve more autonomy or even independence. http://on.wsj.com/2cbOsZr

– Federal prosecutors are in the early stages of an investigation into sales practices at Wells Fargo & Co that led to the bank being hit last week with a $185 million fine, according to people familiar with the matter. http://on.wsj.com/2cIKpEM

– In recent weeks, investors have pulled money from bond funds and increased wagers on lower interest rates, creating the conditions for a crowded trade – in which investors have large and similar positions – that is apt to suddenly reverse. http://on.wsj.com/2cZunmv

– Uber is inviting up to 1,000 Pittsburgh customers to experience the futuristic vehicles in the first real-world test in the U.S. of self-driving cars for regular people. http://on.wsj.com/2cmO3PU

– Pacific Investment Management Co stepped up its defense against a breach-of-contract lawsuit by Bill Gross, alleging that its former star manager leaked details on Pimco executives’ pay and withheld emails. http://on.wsj.com/2cxVvra

– A federal jury found Wednesday that the city of Miami and its former budget director had defrauded bond investors by failing to truthfully disclose the city’s deteriorating financial condition. http://on.wsj.com/2cz2G2g

– A rash of anti-American outbursts from Philippine President Rodrigo Duterte has jolted U.S. allies in Asia, raising doubts about his commitment to a U.S.-led military alliance seeking to counter an assertive China. http://on.wsj.com/2d03qlj

– President Barack Obama said the U.S. will lift the sanctions program in place against Myanmar after nearly 20 years, a decision that clears one of the last remaining obstacles to fully normalized relations. http://on.wsj.com/2cImSUn

 

FT

Bayer AG is set to face tough regulatory scrutiny after its $66 billion deal to buy Monsanto Co.

Britain and Argentina reached a detente over the Falklands Islands, removing restrictions on the Falklands oil and gas industry.

Uber Technologies Inc launched its first self-driving taxi fleet in Pittsburgh, Pennsylvania, in the United States, in a race to develop autonomous vehicle technology.

Ford Motor Co said its profits would fall next year as it ramps up investments in new technologies.

 

NYT

– Wells Fargo has received subpoenas from three different United States attorneys’ offices in the last week, escalating an investigation into how thousands of bank employees came to secretly issue more than a million sham accounts without customers’ consent. http://nyti.ms/2d1j7IX

– Walt Disney cut 5 percent of its consumer products and digital media staff, or about 250 jobs, a spokesman said, the latest in a series of belt-tightening moves by the world’s largest entertainment conglomerate. http://nyti.ms/2cv9Zti

– Tesla Motors came under renewed questioning about the safety of its Autopilot technology after news emerged of a fatal crash in China that may have occurred while the automated driver-assist system was operating. http://nyti.ms/2cWHxEC

– Twitter is making a play for people’s living rooms, unveiling an app on Wednesday for Apple Inc’s Apple TV, Amazon.com’s Amazon Fire TV and Microsoft ‘s Xbox One that will showcase its bet on live content. http://nyti.ms/2cyhL7o

– Fox News announced that the news network’s co-presidents, Bill Shine and Jack Abernethy, had signed multi-year contracts. It did not disclose the length of the contracts but, in a statement, the Fox News executive chairman Rupert Murdoch said the deals would ensure “stability and leadership to help guide the network for years to come.” http://nyti.ms/2coG84B

 

Britain

The Times

News International has been cleared of being in contempt of parliament over phone-hacking evidence given to MPs. http://bit.ly/2cogsuq

The Financial Conduct Authority is facing a courtroom showdown with Andrew Tinney, a former top executive of Barclays Plc, after regulators accused him of suppressing an internal report that was “highly critical” of the way in which the bank’s wealth management business was run. http://bit.ly/2cohaYg

The Guardian

High-profile BBC journalists and presenters such as Nick Robinson, Laura Kuenssberg and John Humphrys will have their pay made public as part of a plan imposed by the government while it renews the BBC’s royal charter. http://bit.ly/2coiWbT

Buenos Aires and London have agreed to extend flights between the Falkland Islands and Argentina and to explore the possibility of joint hydrocarbon exploration in the south Atlantic. http://bit.ly/2csu8RN

The Telegraph

German chemicals giant Bayer AG has agreed to buy U.S. seeds and pesticides rival Monsanto Co in a $66 billion (50 bln pound) takeover that will create the world’s biggest business in the sector. http://bit.ly/2csunwi

Sky News

Hillary Clinton is “healthy and fit to serve as president” despite her bout of bacterial pneumonia, her doctor has said. http://bit.ly/2csuCHB

The nurse who contracted Ebola after working in Sierra Leone, Pauline Cafferkey, has been cleared of misconduct. http://bit.ly/2csu5oW

The Independent

Artists and record companies could be allowed to demand more money from websites such as YouTube, under new plans to reform European copyright laws published on Wednesday. http://ind.pn/2csuyYp

Darren Topp, the former boss of collapsed retailer BHS, has been appointed as chief executive of fashion chain LK Bennett. http://ind.pn/2csvsE7