Silver as an investment

Frontrunning: August 7

  • Futures slightly higher after Dow’s record run (Reuters)
  • Tillerson says U.S., Russia can settle differences (Reuters)
  • Hot-Stock Rally Tests the Patience of Value Investors (WSJ)
  • ‘Good Conservative’ Grassley Ramps Up His Panel’s Trump-Russia Probe (BBG)
  • Brands Strike Back: Seven Strategies to Loosen Amazon’s Grip (WSJ)
  • Oil slides from nine-week highs as market looks to OPEC (Reuters)
  • BlackRock, Vanguard Say Bond Market’s Got This Trade All Wrong (BBG)
  • Bond Bears Balk at ‘Trade of Decade’ (BBG)
  • Samsung scion Lee fights back tears as prosecutors seek 12 years’ jail (Reuters)
  • Cyber threats prompt return of radio for ship navigation (Reuters)
  • De Blasio Pushes for Tax on the 1% to Fund New York City Subway Fix (BBG)
  • Libor’s Demise Creates a Mortgage Mystery (WSJ)
  • Big Oil’s Dream of $65 Billion Hidden Off Norway Is Fading Away  (BBG)
  • Tesla Goes From Zero to 100 in Three Months (BBG)
  • Penalties Against Wall Street Are Down Sharply in 2017 (WSJ)
  • This American Town Was Left to Die, and Suddenly Economists Care (BBG)
  • Israel moves to shut down local operations of Al Jazeera (Reuters)
  • U.K. Economy Suffers After Consumer Spending Slumps Again  (BBG)
  • Kenyans stockpile food, police get first aid kits ahead of vote (Reuters)
  • Buffett Nears a Milestone He Doesn’t Want: $100 Billion in Cash  (BBG)
  • Why the World’s CEOs Fear Paul Singer (BBG)
  • StanChart CEO says Gulf rift puts Dubai finance hub at risk (Reuters)
  • Police Push Tracking for Civilian Drones (BBG)
  • Australia finds U.S. military aircraft that crashed off northeast coast (Reuters)
  • Inside the Secret World of Global Food Spies (BBG)


Overnight Media Digest


– Google’s new diversity chief, Danielle Brown, criticized the contents of an employee’s memo that went viral inside the company for suggesting Google has fewer female engineers because men are better suited for the job.

– The US military called off a search-and-rescue mission for three Marines missing after their Osprey aircraft went down in waters off Australia’s east coast, military officials said.

-WeWork Companies Inc raised $500 million to expand operations in South Korea and Southeast Asia. The New York-based company, said that it also acquired Singapore co-working firm, Spacemob Pte Ltd in a separate deal.



The British government has said it will pay “no more than it needs to” in its divorce settlement with the European Union, playing down a Sunday Telegraph report that it would pay a sum of 36 billion pounds if the EU agreed to start negotiating a post-Brexit trade deal.

The Britain’s peer-to-peer lenders will soon have to give out detailed information about how much investors have lost in the past on loans they arranged, as the Financial Conduct Authority (FCA) tries to regulate the fast growing sector.

Royal Dutch Shell Plc and BP Plc declared confidence in the future of North Sea oil and gas production after a series of cost cuts that executives say have pulled the basin back from the brink of precipitous decline.

Singapore start-up oBike, which offers 1 pound-an-hour rental bikes in London, has said it was “disappointed” after Wandsworth council seized more than 130 of its cycles and described them as a “yellow bike plague”.



– Fox News suspended Eric Bolling, a longtime host at the network, pending an investigation into reports that he sent lewd photographs to three female colleagues via text message.

– Workers at a Nissan plant in Mississippi overwhelmingly rejected a bid to unionize, an election that the union quickly criticized. The union accused Nissan of waging an unusually aggressive fight against the organizing effort.

– U.S. Vice President Mike Pence declared his loyalty to President Trump, denouncing an article suggesting that he was positioning himself to run for president in 2020 if Trump does not seek a second term.

– U.S. Deputy Attorney General Rod Rosenstein said the Justice Department was not pursuing reporters as part of its growing number of leak investigations.




** The Halifax Chronicle Herald and the union representing the paper’s employees have reached a tentative agreement weeks after the provincial government intervened in their bitter 18-month-old labor dispute.

** British Columbia’s New Democratic Party government plans to collect the names and jobs of temporary foreign workers in the province for a new registry aimed at providing information to help develop labor-market policy.

** Canadian athletes at the world athletics championships have been coping with injuries and an outbreak of a Norwalk virus at the team’s hotel that felled marathoner Eric Gillis on Sunday.


Canadian Finance minister Bill Morneau’s tax plans announced last month could result in a tax rate as high as 93 percent, as pointed out by tax lawyer Michael Goldberg of Minden Gross LLP in Toronto.



The Times

Royal Dutch Shell Plc is to launch as an electricity supplier in Britain, challenging some of Europe’s biggest utilities.

The chief executive of Glaxosmithkline Plc, Emma Walmsley, has vowed to develop more blockbuster drugs by bringing greater commercial rigour to its research and development.

The Guardian

Head office staff at the Tesco-owned One Stop convenience chain are fighting for a better redundancy package after it emerged employees on Tesco contracts were being offered a more generous payoff.

Sainsbury’s is to cut more than 1,000 jobs at head office as part of a fresh efficiency drive designed to save 500 million pounds ($652.25 million).

The Telegraph

Property investor Henderson Park, founded by former Goldman Sachs executive Nick Weber last year, has confirmed the acquisition of two of the UK’s largest hotels in a deal thought to be worth around 500 million pounds.

Boutique hotel operator Firmdale is set to report that it booked record revenue of 125.8 million pounds in 2016 driven largely by rising room rates at its eight London properties.

Sky News

Arqiva, which is owned by a consortium of Australian and Canadian investors, has appointed Barclays Plc, Goldman Sachs Group Inc, HSBC Holdings Plc and JPMorgan Chase & Co to prepare a London stock market listing that would value the company at up to 6 billion pounds.

An independent study will look at how the UK can meet its climate change targets while also keeping costs down for consumers.