wiar 8-18-17

Mary FanslauWhat I Am Reading

Aug 18 (Friday)

Markets
U.S. Stocks Tumble, Dow Slides Over 250 Points (B)
Dip Buyers Beware, This Selloff Came With Slew of Worrying Signs (B)

Asset Management
World’s Biggest Pension Fund Wants to Stop Index Trackers Eating the Economy (W)
Pension Funds Sue Six Banks, Claiming Stock-Lending Abuses (W)
EM worries over swelling influence of ETF flows (FT)
Blackstone Adds $10 Billion in Energy Assets With Harvest Deal (B)
Goldman’s sketchy case to buy (and then sell) bitcoin (FT)

Central banks
The Fed just fired off a stark warning — and it highlights one of the biggest risks for stocks (BI)
ECB Searches for Stimulus Flexibility as End of QE Approaches (B)
The ECB’s Good-News Problem: the Euro (W)

US
U.S. Industrial Output Up Modestly in July (W)
Why a repeat of the 2007 crisis is unlikely (FT)
An Even Wider Generational Wealth Gap? (FRB-SL)

China
China debt bear warns of $6.8tn in hidden losses (FT)
Alibaba’s Net Income, Revenue Surge on Growth in Online Sales (W)

US politics    
Key Republican Calls for ‘Radical Changes’ in Trump’s Presidency (B)
Trump Abandons Plan for Council on Infrastructure (B)
Apple’s Cook Joins Business Leaders Criticizing Trump’s Remarks (W)
Trump Tweets Further Defense of Confederate Statues (W)
Pressed to Fire Bannon, Trump Instead Channels Him (W)
Bannon and Cohn struggle for White House supremacy (FT)
Cohn to Remain in White House Economic Post, Official Says (B)

Terrorism & cybersecurity
Death Toll Climbs to 13 in Barcelona Terror Attack (W)
HBO hacked again in Twitter accounts breach (FT)

Industries & companies
Consumer: Coca-Cola Wins Arby’s Away From PepsiCo in Latest Showdown (B)
Media: Netflix Co-Founder’s Crazy Plan: Pay $10 a Month, Go to the Movies All You Want (B)
Pharma: Mylan Settles EpiPen Medicaid Overcharge Claims for $465 Million (W)
Pharma: Generic drugmakers feel pinch as prices crumble (FT)
Retail: Trump Says Amazon Does ‘Great Damage’ to Retailers (B)
Retail: Charting the US retail revolution (FT)
Retail: Wal-Mart Sales Rise as Retailer Dodges Industry Malaise (W)
Technology: Cisco’s Feud With Former Executive Turns Personal—and Costly (W)

Corporate finance
Global Biotech M&A Takes a Breather on Looming Tax Reform (B)
China’s Anbang Hits a Wall in South Korea (W)
Private equity fundraising hits post-crisis high (FT)