Saturday, July 29, 2017

Today's Headlines

  • Hamburg Attack Puts Merkel Refugee Policy Back in Spotlight. An attack in the northern city of Hamburg thrust Chancellor Angela Merkel’s refugee policy into the spotlight less than two months before Germany goes to the polls. Police were aware that the man suspected of a stabbing spree on Friday had shown of signs Islamic radicalization, Hamburg’s interior minister, Andy Grote, said in a press conference on Saturday. The attack in a supermarket in the Barmbek district left one man dead and six injured before bystanders overpowered the attacker. The 26-year-old suspect is a Palestinian citizen whose request for refugee status had been declined. He had been ordered out of the country but lacked the necessary documents to travel, Grote said, adding that a few hours before the attack the man had inquired whether his documents were ready. The suspect, who had shown signs of mental instability, is now in police custody.
  • Australia Foils Plot to ‘Bring Down’ Plane, Prime Minister Says. Australian counter-terrorism agencies have foiled a plot to “bring down” a plane in a terrorist attack, Prime Minister Malcolm Turnbull says. Four men were arrested on Saturday night by counter-terrorism officers in raids on four Sydney properties over an alleged plot to blow up an aircraft.
  • U.K. Seeks Smoother Brexit to Keep ‘Life as Normal’ for Longer. (video) Prime Minister Theresa May is keeping Britain on track for a “hard” Brexit, but she wants the journey away from the European Union to be longer and smoother than initially planned. After weeks of wrangling since her Conservative Party lost its parliamentary majority, May’s government still seems determined to leave the single market and customs union that give Britain free, frictionless trade with the bloc. What’s changed is that, according to Chancellor of the Exchequer Philip Hammond, there’s now a consensus among senior ministers that even if the U.K. will departs the EU in March 2019, nothing should change the next day. Instead, the cabinet wants the status quo to run for two or three years.
  • Top German Automakers Sued in U.S. Over Two-Decade ‘Cartel’. German’s major automakers were accused in a U.S. lawsuit of acting as a cartel, colluding for nearly two decades to limit the pace of technological advances in their vehicles and stifle competition -- allegations that widen the scope of the latest scandal to hit the nation’s auto industry. BMW AG, Daimler AG, Volkswagen AG and its Audi and Porsche brands shared competitive information about vehicle technologies with one another from 1996 through at least 2015 in violation of antitrust laws, according to a complaint filed Friday in San Francisco federal court.
  • OPEC, Non-OPEC Nations to Meet on Compliance With Oil Targets. Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi as soon as next week to discuss why some of them are falling behind in their pledges to cut production, people familiar with the matter said. The meeting, co-chaired by Kuwait and Russia, will examine reasons why some countries aren’t fully implementing their cuts, the people said. Some nations will argue that the independent sources used by OPEC to assess compliance overestimate their production, said two of the people, who asked not to be identified because the discussions aren’t public.
Wall Street Journal:
  • Had bullish commentary on (C), (AAP), (COG) and (HON).
  • Had bearish commentary on (TWTR), (AMZN) and (GOOGL).
Zero Hedge:

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