Silver as an investment

Frontrunning: July 31

  • HSBC, miners lift European shares as dollar holds near lows (Reuters)
  • Republicans Face Tough Choice: Repeal Obamacare or Cut Taxes (BBG)
  • Trump’s Decisions Deepen Divide Among Republicans (WSJ)
  • Koch Brothers Move to Back White House’s Tax-Cut Plan (BBG)
  • Maduro Waits for U.S. Response After Violent Venezuela Vote (BBG)
  • OPEC Has a Crippling Problem: Its Members Can’t Stop Pumping (WSJ)
  • Catalan Separatist Chief Is Ready to Go to Jail (BBG)
  • Saudi Arabia says that calls for internationalization of holy sites ‘a declaration of war’ (Reuters)
  • China Asks Waldorf Owner Anbang to Sell Assets Abroad, Sources Say (BBG)
  • China’s overall debt levels still high, central bank official says (Reuters)
  • China Bond Buyers Quiz Taxi Drivers to See If Credit Good (BBG)
  • How China’s biggest bank got ensnared in a money laundering probe (Reuters)
  • Real estate booms in China’s small cities, but construction outpaces demand (Reuters)
  • One of China’s ‘most-wanted’ fugitives returns after 19 years in U.S. (Reuters)
  • South Africa’s stock market defies recession, scales record highs (Reuters)
  • Discovery Communications Agrees to Buy Scripps Networks (WSJ)
  • SoftBank Is Said to Plan Making Direct Offer for Charter (BBG)
  • Charter Says It Isn’t Interested in Acquiring Sprint (WSJ)
  • Shell plans 400 job cuts at Dutch projects and technology department (Reuters)
  • The Bust Never Ended for Wall Street’s Most Crisis-Scarred Banks (BBG)
  • Hot and cold: Euro zone grows but inflation slows (Reuters)
  • Supermarkets Face a Growing Problem: Too Much Space (WSJ)
  • Japan’s biggest bank eyes Amsterdam as post-Brexit EU base (FT)
  • Alphabet Wants to Fix Renewable Energy’s Storage Problem — With Salt (BBG)
  • Late Credit-Card Payments Stoke Fears for Banks (WSJ)
  • iPhone’s Toughest Rival in China Is the WeChat app (WSJ)
  • Top French court orders government to provide water to Calais migrants (Reuters)
  • Private Equity Takes Fire as Some Retailers Struggle (WSJ)


Overnight Media Digest


– U.S. President Donald Trump’s administration officials urged China and other nations to band together to confront North Korea over its nuclear and ballistic-missile ambitions, with Vice President Mike Pence declaring “all options are on the table” to rein in Pyongyang.

– Charter Communications Inc said it is not interested in buying Sprint Corp, rebuffing a gigantic merger offer and potentially ending several weeks of deal talks between the media and communications companies.

– Four big activist investors, including Jana Partners and Trian, are now calling for changes to plans to split DowDuPont , a $150 billion chemical behemoth about to be formed, into three companies.

– Russian President Vladimir Putin said the United States would have to cut 755 diplomats and staff in the country by September in retaliation for impending U.S. sanctions on Moscow.

– Eight months after a landmark deal to cut oil output to force prices up, big budget obligations are driving OPEC members to keep producing.

– U.S. President Donald Trump’s tumultuous past week has widened rifts in his party, between those who vocally support the president’s combative style and others who bridle at it, according to interviews with GOP officials and supporters across the country.



Japan’s Mitsubishi UFJ Financial Group is planning to make Amsterdam its new EU base for its investment banking operations to cope with the disruption of Brexit.

Pimco attracted nearly $50 billion to its funds in the six months to the end of June, according to numbers compiled by Morningstar for the Financial Times.

Apple Inc says it is removing virtual private network (VPN) services from its app store in China, drawing criticism from VPN service providers, who accuse the U.S. tech giant of bowing to pressure from Beijing cyber regulators.

Billionaire Li Ka-shing has agreed to sell his Hutchison Telecommunications fixed-line phone business for HK$14.5 billion ($1.86 billion) to U.S.-based infrastructure-focused private equity firm I Squared Capital.



– Apple Inc said in a letter it had removed apps from China store that helped internet users evade censorship. Software made by foreign companies to help Chinese users avoid the country’s system of internet filters had vanished from Apple’s app store in the mainland.

– Interviews for control over Uber Technologies Inc with more than a dozen people close to the process, indicate that board members’ relationships have been damaged by leaks, shifting wildly as alliances are forged and then broken.

– The owners of DC United, Washington’s major league soccer team, are quietly weighing a sale of the franchise. The potential sale arose from efforts by DC United’s majority owners to sell a 35 percent stake once held by the investor Will Chang who sold that stake to the team last fall.



The Times

BT Group Plc has offered to spend up to 600 million pounds ($788.70 million) on upgrading internet speeds for more than 1 million rural homes, as it fends off pressure to break up its empire.

HSBC Holdings Plc is said to launch a $2 billion share buyback tomorrow, in the first phase of a three-year programme to run down its vast cash stockpile.

The Guardian

Britain will be hit by huge border delays, require vast lorry parks in the south-east, and suffer more than £1bn a year in economic damage, according to a stark economic analysis of the likely impact of customs checks after Brexit.

Liam Fox has said there is no cabinet-wide agreement for the suggestion by the chancellor, Philip Hammond, that free movement could continue for up to three years after Brexit.

The Telegraph

Billionaire Li Ka-shing has offloaded Hutchison Global Communications, which runs fixed-line and wifi services, to American private equity group I Squared Capital for HK$14.5 billion ($1.86 billion).

Five more banks, including British-based bank Standard Chartered Plc, have agreed to pay a total of $111 million to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the finance industry.

Sky News

LoveHomeSwap, one of the UK’s best-known sharing economy start-ups, is close to being sold to the American hotels giant Wyndham Worldwide Corp in 40 million pound deal.

Financial Times’ journalists could strike over the gender pay gap at the newspaper amid fury that female journalists are being paid 13 percent less than male colleagues.

The Independent

Japan’s biggest bank Mitsubishi UFJ Financial Group is reportedly set to move its European investment operations from London to Amsterdam because of the uncertainty posed by Brexit.