China stocks slump 6 percent on fears of further yuan depreciation (Reuters) U.S. Lacks Ammo for Next Economic Crisis (Hilsenrath) Emerging Markets Extend Slide as Commodities Fall; Pound Jumps (BBG) China yuan to move both ways, more 'adjustments' unlikely: central bank economist (Reuters) Playing Chinese markets is as simple as 'follow the leader' (Reuters) PBOC Injection Shows China Worries About Outflows (WSJ) Russia Fails to Soothe Oil Concerns as Citi Joins Ruble Bears (BBG) A Condom Maker Could Be a Big Winner From the Plunge in the Ringgit (BBG) World’s Biggest Currency Trade Is Stuck in a Fed-Induced Rut (BBG) U.S. graft probes may cost Petrobras record $1.6 billion or more (Reuters) Why 6 Million Americans Would Rather Work Part Time (BBG) U.S. Postal Service Tries Hand as Fishmonger, Grocer (WSJ) Rajapaksa's comeback fails as Sri Lankan voters back reforms (Reuters) Saudi-led warplanes wreak havoc on Yemen aid port Hodeida (Reuters) Planned Parenthood seeks injunction against Florida health agency (Reuters) Former NFL players object to concussion settlement (Reuters) Overnight Media Digest WSJ * As the U.S. economic expansion ages and clouds gather overseas, policy makers worry fiscal and monetary tools to battle a recession are in short supply. The United States generally injects cash into the economy through interest-rate cuts, tax cuts or ramped-up federal spending. Those tools could be hard to employ when the next dip comes. (on.wsj.com/1gSDHZy) * The Obama administration is working to reach a deal with Cuba by year's end that would allow travelers to fly on scheduled commercial flights between the countries, U.S. officials say. (on.wsj.com/1gSDYvr) * Investors have asked to redeem roughly half the money managed by Claren Road Asset Management, the latest blow for Carlyle Group's hedge fund firm. The firm managed about $4.1 billion at the end of July. (on.wsj.com/1gSE0Uj) * The U.S. Postal Service is ramping up same-day delivery of everything from bottled water to fresh fish, as its new postmaster general tries to better compete with FedEx Corp , United Parcel Service Inc and even Amazon.com Inc. (on.wsj.com/1gSE9ac) * The U.S. Environmental Protection Agency will propose the first-ever federal regulations to cut methane emissions from the nation's oil and natural-gas industry, which is part of President Barack Obama's climate agenda. (on.wsj.com/1gSFFZW) * Faced with new global regulations requiring them to strengthen their capital, big lenders in the United States and Europe have turned to a trading tactic that flatters their positions without actually raising extra funds. (on.wsj.com/1gSFLkf) FT The Obama administration granted Royal Dutch Shell the final permit to drill for oil and gas in the Arctic, after Shell moved a vessel called the Fennica to the region. It is carrying a "capping stack" that could be used to seal a well in the event of a blowout and leak. Deutsche Bank has reorganised its fixed income and currencies business (FIC). FIC, the bank's biggest business, will now be overseen by an executive committee with its own chairman. The details were mentioned in a memo sent by the bank's co-head of investment banking Colin Fan in recent days. National Institute for Health and Care Excellence has issued new guidance to help doctors and pharmacists prevent the use of antibiotics for treatment of diseases for which they are not suited. It has said that overprescribing of antibiotics remains common in spite of increasing information regarding the rise of drug-resistant infections. NYT - Investors in Claren Road Asset Management may think the hedge fund has come to the end of the road. The hedge fund, which is majority-owned by the private equity firm Carlyle Group , is facing requests from investors to withdraw around $2 billion of their money from the firm's two main funds, according to a filing with the Securities and Exchange Commission. (http://nyti.ms/1fm0Br5) - The Internal Revenue Service said on Monday hackers had gained access to the tax returns of more than 300,000 people, a far higher number than the agency had reported previously (http://nyti.ms/1JecBqK) - The Federal Reserve Bank of Dallas on Monday chose for its new president Robert Steven Kaplan, a former Goldman Sachs Group Inc executive. (http://nyti.ms/1JdDEhJ) - The Obama administration is expected to propose as soon as Tuesday the first-ever federal regulation to cut emissions of methane, a powerful greenhouse gas that contributes to global warming, by the nation's oil and natural-gas industry, officials familiar with the plan said on Monday. (http://nyti.ms/1WANpjZ) Canada THE GLOBE AND MAIL ** The Canada Pension Plan Investment Board has purchased a 49 percent stake worth about C$170 million ($129.7 million) in a joint venture to invest in a mixed-use development in Kuala Lumpur with Malaysia's Pavilion Group. (http://bit.ly/1JeP0GB) ** Brookfield Infrastructure Partners LP is acquiring a majority stake in Melbourne-based Asciano Ltd , an Australian port and rail systems, in a deal worth $8.6 billion, plus debt, aiming to create a competitive international transport heavyweight. (http://bit.ly/1JePTij) ** Two proposed liquefied natural gas projects by Pieridae Energy Ltd and Bear Head LNG Corp have received approval from the National Energy Board to export LNG, but they are counting on the United States to build pipeline capacity into Canada's New England in order for them to obtain the supply needed to underpin their ambitious plans. (http://bit.ly/1JeQ5Os) NATIONAL POST ** Difference Capital Financial Inc, which reported results last week, said on Monday that National Bank Financial was "discontinuing coverage." The bank provided the only sell side analysis on the company. (http://bit.ly/1NCtNpI) ** The Mortgage Company of Canada, a mortgage investment firm, will pay penalties and costs of C$100,000 to settle allegations brought by regulators over the sale of about C$32.2 million worth of shares to nearly 150 investors. (http://bit.ly/1NCttaz) ** Centerra Gold Inc's former Chief Executive Len Homeniuk is lashing out at Canadian authorities after his arrest last month in Bulgaria on corruption allegations he says are unfounded and simply an attempt to sway current negotiations over the Kumtor gold mine. (http://bit.ly/1JeQIrt) China CHINA SECURITIES JOURNAL - Total premium of the internet insurance market hit 81.6 billion yuan ($12.76 billion) in the first half of this year, up 1.6 times from last year, according to data from the Insurance Association of China. 21st CENTURY BUSINESS HERALD - Tencent Holdings Ltd said it planned to set up an insurance company with a registered capital of 1.5 billion yuan ($234.68 million), and that it had already submitted all necessary documents to the China Insurance Regulatory Commission (CIRC). SHANGHAI SECURITIES NEWS - Sinomach Automobile Co Ltd said a total of 6,500 automobiles, worth 3 billion yuan, might have been destroyed during the massive explosions at the Tianjin port last week. PEOPLE'S DAILY - The National Audit Office of China said in a research report that over 9.8 billion yuan low-income housing funds had been embezzled. Britain The Times Britain's North Sea oil industry is set for an autumn of discontent, as workers threaten to take strike action for the first time in a generation after thousands of job cuts triggered by plunging prices. Union organisers will begin counting votes Tuesday for a possible walkout by hundreds of helicopter pilots, who play a critical role ferrying workers and supplies to offshore rigs. (http://thetim.es/1JdeJef) GVC Holdings faces a multimillion-dollar legal claim after a Canadian company accused it of reneging on a deal, owing to its involvement in the 1 billion-pounds ($1.56 billion)auction of Bwin.party. The Sportingbet owner, which is fighting 888 Holdings for control of Bwin, is being sued by 37 Entertainment, a sports and entertainment consultancy, over a joint venture to launch two websites aimed at Canadian punters. (http://thetim.es/1JdflQU) The Guardian Falling oil prices and a strong pound are likely to have anchored inflation at zero for a second successive month in July, giving further reason for Bank of England policymakers to delay raising interest rates. City economists said official figures to be published on Tuesday are likely to show consumer price inflation remained at zero last month. (http://bit.ly/1Jd69vO) Rail unions are holding a protest on Tuesday to highlight their claim that rail fares have risen nearly three times faster than wages over the past five years. Campaigners at London's Waterloo station will hand out postcards highlighting the cost of rail privatisation and demanding a return of the railways to public ownership. (http://bit.ly/1Jdfa86) The Telegraph Cargill, the world's largest grain trader, has bought Norwegian salmon-feed supplier Ewos, in a bid to gain exposure to the fast-growing market for farmed fish and shrimp. The 1.35 billion-euros ($1.49 billion) acquisition marks Cargill's second investment in aquaculture in the past month, as the group seeks to capitalise on rising global demand for farmed seafood. (http://bit.ly/1hIHFVw) Scandal-hit Quindell has appointed a new chief executive to fill a role that has been vacant since May and has sought to further distance itself from its troubled past by parting ways with its house broker. The insurance outsourcer, which is the subject of investigations by the Serious Fraud Office and the Financial Conduct Authority, on Monday named Indro Mukerjee as its boss. (http://bit.ly/1LeLnjc) Sky News Mast Capital Management, a Boston-based fund backed by the financial giant KKR, is to invest in a $125 million bond issue which is expected to be launched by London-listed satellite company Avanti Communications this week. A stock exchange announcement confirming the debt-raising could come as soon as Tuesday, City sources said. (http://bit.ly/1Jd6puS) Airbus gets a huge vote of confidence from Indian carrier IndiGo with its biggest-ever order for planes. The French aircraft giant has secured its biggest ever single order for planes in a 17 billion-pounds deal with Indian airline IndiGo. (http://bit.ly/1Jd6Ll4) The Independent Agent Savills and investment bank Lazard are selling a 42.5 percent stake on behalf of the British government and deliveries giant DHL in the 67-acre site around King's Cross and St Pancras station. When completed in five years' time, the scheme could be worth around 5 billion pounds.(http://ind.pn/1Jda4sG)