Frontrunning: August 27


  • Islamic State executes soldiers, takes hostages at Syria base (Reuters)
  • Buffett Burger King Funds Flip Obama’s Inversion Calculus (BBG)
  • Equities Reach Record $66 Trillion as S&P 500 Hits 2,000 (BBG)
  • Central Banks Playing Own Version of Plaza-opoly With FX (BBG)
  • Russia court closes McDonald's branch for 90 days (Reuters)
  • Finland Says NATO an Option After Russia ‘Violates’ Border Laws (BBG)
  • Netanyahu Hit With Domestic Criticism Over Gaza Truce (BBG)
  • Biggest Danish Fund Readies for Rate Shock as Exit Narrows (BBG)
  • Nonprofit Hospitals' Profits Fall (WSJ)
  • Snapchat Fetches $10 Billion Valuation (WSJ), a year after it was valued at $800 million
  • Apple Said to Prepare New 12.9-Inch IPad for Early 2015 (BBG)
  • Demonstrations resume in Missouri over shooting death of black teen (Reuters)
  • China Is Awash in Grain Crops (WSJ)

 

 

Overnight Media Digest

WSJ

* Israel and Hamas agreed to their first open-ended cease-fire after seven weeks of military confrontation and will resume truce talks in Cairo in the coming days. (http://on.wsj.com/1ldqdZE)

* Burger King Worldwide Inc defended its acquisition of Tim Hortons Inc as the hamburger chain came under criticism for its effort, backed by billionaire investor Warren Buffett, to move the quintessential American brand to Canada. (http://on.wsj.com/1ASHDyp)

* Kleiner Perkins Caufield & Byers agreed to invest in Snapchat at a valuation of close to $10 billion, making it one of the world's most valuable private tech start-ups.(http://on.wsj.com/1qKk2J9)

Big Tobacco is finally making its big push into electronic cigarettes. Altria Group Inc and Reynolds American Inc together have captured about a quarter of convenience-store sales just weeks into national rollouts of the battery-powered devices. In a surprising development, though, e-cigarette sales are falling at these traditional retail outlets, reversing three years of rapid-fire growth. (http://on.wsj.com/XQZ04P)

* American Airlines Group Inc has withdrawn its flights from consumer websites powered by Orbitz Worldwide Inc, following a similar dispute between the airline and the travel website about three years ago. (http://on.wsj.com/1ASIgbc)

* The U.S. Securities and Exchange Commission is expected to complete rules Wednesday that would require banks and other firms to provide investors with more details about loans pooled into bonds known as asset-backed securities. (http://on.wsj.com/1pfnn7m)


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