Frontrunning: August 21


  • FTW: Europe Stocks Rise as Data Signals Need for Stimulus (BBG)
  • More de-escalation: Dozens die in Ukraine in street battles, Donetsk shelling (Reuters)
  • Calm largely holds in Missouri after grand jury opens shooting investigation (Reuters)
  • Attorney General Eric Holder Vows Thorough Probe of Ferguson Shooting (WSJ)
  • World’s Biggest Wealth Fund Slows Emerging Market Investment (BBG)
  • Market Chilly to Argentine Debt Proposal (WSJ)
  • Israeli air strike kills three Hamas commanders in Gaza (Reuters)
  • Retooled Hamas Bloodies Israel With Help From Hezbollah (BBG)
  • Investors Pour Into Vanguard, Eschewing Stock Pickers (WSJ)
  • Fed Debates Early Rate Increases (WSJ)
  • Hong Kong’s Rich Get Richer as Economy Shrinks (BBG)
  • Millennial Bankers Get Raises as Firms Fight Defections (BBG)
  • Bank of America to Pay $17 Billion in Justice Department Settlement (WSJ)
  • Dollar General Says It Was Misled During Family Dollar Talks (BBG)

 

Overnight Media Digest

WSJ

* U.S. Special Operations forces mounted an unsuccessful mission inside Syria earlier this summer to try to rescue several Americans held by Islamic extremists, including the journalist who was beheaded this week, senior Obama administration officials said. (http://on.wsj.com/1AzOooQ)

* Bank of America Corp is expected to pay a record settlement of nearly $17 billion over its mortgage lending as early as Thursday, according to people familiar with the matter, capping a legal odyssey that has dogged it since the depths of the financial crisis. (http://on.wsj.com/1pgsRhm)

* U.S. air strikes have driven some ground commanders of the Sunni radical group Islamic State from northern Iraq across the border into Syria, Iraqi officials say. (http://on.wsj.com/1rnn8ZG)

* Investors are pouring money into Vanguard Group, the epitome of the hands-off approach to investing, flocking to funds that track market indexes and are not run by stock pickers or star managers. (http://on.wsj.com/1vk6Y14)

* Wall Street banks, under pressure to improve working conditions for junior employees, are raising salaries. A host of big banks including Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley have decided to lift pay or are seriously considering the move for many junior bankers. The pay increases, which are coming in the form of salaries as opposed to year-end bonuses, could hit 20 percent to 25 percent at some firms. (http://on.wsj.com/XBDl0q)


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