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Frontrunning: August 3

  • Bank of England, staying on hold, hints again at 2018 rise (Reuters)
  • Angry and inspired: Democrats train new wave of candidates (Reuters)
  • Is Gary Cohn a Good Pick to Head the Fed? (BBG)
  • Russia Warns of Worsening U.S. Ties, Criticizes Trump ‘Weakness’ (BBG)
  • Russians Portray Washington as Mired in Chaos (WSJ)
  • Japan PM names safe hands in cabinet reshuffle but makes maverick top diplomat (Reuters)
  • Avon CEO to Step Down Amid Activist Investor Pressure (WSJ)
  • Trump, frustrated by Afghan war, suggests firing U.S. commander (Reuters)
  • ‘London Whale’ Has a New Target: J.P. Morgan (WSJ)
  • As Venezuela Spirals, U.S. Oil Confronts a $10 Billion Threat (BBG)
  • Commodity Firms Reap Rewards of Bond Upgrades (WSJ)
  • The Oil Market's Hidden Signals Show U.S. Producers Are Hedging Again (BBG)
  • Facebook Drowns Out Fake News With More Information (WSJ)
  • Americans Keep Crushing It With Their 401(k)s (BBG)
  • A Baccarat Binge Helped Launder the World’s Biggest Cyberheist (BBG)
  • A Robot Can Be a Warehouse Worker’s Best Friend (WSJ)
  • July's U.S. Labor-Market Numbers Will Probably Look Familiar (BBG)
  • China 'coordinating with U.S.' in South China Sea search for sailor (Reuters)
  • Food Fight: Brands Clash Over Nutrition Facts Labels (WSJ)
  • Plans to Rethink America’s Malls Can’t Keep Up With Retail’s Collapse (BBG)
  • Landmark Qatar Law to Grant Permanent Residency to Expats (BBG)
  • New White House chief of staff assures attorney general his job is safe (Reuters)

Overnight Media Digest


- Irene Rosenfeld is stepping down after 11 years as chief executive of Mondelez International Inc, as the snack giant faces pressure to improve profitability amid an upheaval in the packaged-food business. McCain Foods CEO Dirk Van de Put will succeed her in November.

- U.S. President Donald Trump announced a proposal to cut the number of green cards issued annually by half, embracing a Senate measure that advances his drive to reduce legal as well as illegal immigration into the United States.

- Brazil's Congress rejected bribery charges against President Michel Temer, preventing his case from going to trial at the Supreme Court and averting a third change of power in less than two years.

- U.S. President Donald Trump signed into law a bill imposing sanctions on Russia to punish it for its interference in the 2016 U.S. election, even as he hit back by saying the legislation was "seriously flawed."

- Qatar Airways said it is abandoning its controversial plan to take a stake of up to 10 percent in American Airlines Group Inc, ending a brash attempt by the government-owned Middle East carrier to push into the United States amid political upheaval at home.



- Time Warner Inc's HBO chief executive Richard Plepler said that the cable network did not believe its "email system as a whole has been compromised" but that a forensic review was being conducted and the network was trying to hire an outside firm "to work with our employees to provide credit monitoring."

- International lawyer, Michael Bradfield, who helped steer the economy through a series of financial crises while working at the Federal Reserve and elsewhere in Washington, died on July 26 of acute leukemia in Manhattan.

- Canadian shoe company Aldo Group has agreed to acquire the footwear and accessories operations of the Camuto Group, the company founded Vince Camuto. The terms of the deal were not made public by the companies.



The Times

The governments favourite infrastructure and engineering consultant, CH2M Hill, is to be taken over by its U.S. rival in a $3.35 billion deal.

The man who oversaw BP Plc's drilling at the time of the Deepwater Horizon oil disaster is to return to London markets with a listing of Kosmos Energy Ltd, the U.S.-based explorer.

The Guardian

British Airways travellers faced delays at Heathrow and Gatwick on Wednesday after a temporary check-in problem.

The average take home pay for the bosses of Britain's top stock market-listed companies was 4.5 million pounds last year, according to the High Pay Centre's annual survey of top executive pay. This compares to Office for National Statistics figures showing average annual earnings of 28,200 pounds for full-time employees in the year to April 2016.

The Telegraph

The Bank of England should raise interest rates on Thursday and reverse part of the emergency stimulus deployed after the Brexit vote, according to former deputy governor John Gieve.

More Britons are listening to commercial radio than BBC stations consistently for the first time in nearly a century of broadcasting, according to figures from the media regulator.

Sky News

DFS Furniture Plc, Britain's biggest independent furniture retailer, will this week unveil a takeover of fast-growing rival Sofology Ltd just weeks after a profit warning sparked fresh fears of a slowdown in consumer spending.

Monthly purchasing managers' index data from Markit/CIPS UK Construction showed a significant decline in building works, with a reading of 51.9 for last month - down from 54.8 in June.

The Independent

Greggs Plc has announced it will open drive-through shops across the country after a trial in Salford proved to be a runaway success.