Top Headlines

Widening Fed Consensus on Inflation Overshadows Rate-Hike Debate – Bloomberg

For all of their differences, one thing most Federal Reserve officials seem to agree on is that there’s not much risk of inflation running away from them anytime soon, regardless of what they do with interest rates.

BOJ Cornered as Japanese Banks Running Out of Bonds to Sell – Bloomberg

Japan’s biggest banks are running out of room to sell their government bond holdings, pushing the central bank closer to the limits of its record monetary easing.

The Fix Is Out: Fannie and Freddie Heading for New Troubles – Bloomberg

The hole at the corner of 15th and L streets, in downtown Washington, is deep — and getting deeper.

UK July retail sales show strong beat with monthly rise of 1.4% – CNBC

U.K. retail sales posted a strong beat on Thursday, adding to a positive picture for the country’s economy following the decision to leave the European Union.

BP to Halliburton in ‘Barroom Brawl’ as Drillers Slash Costs – Bloomberg

Mad Dog, BP Plc’s drilling project deep in the Gulf of Mexico, could be Exhibit A in the oil industry’s war on cost.

The Gap Between U.S. and Canadian Working Women That Keeps Growing – Bloomberg

For neighbors with similar gender attitudes, it’s surprising to see a widening divergence in the share of women in the labor force in the U.S. and Canada.

Regulatory News

Former Health-Care Investment Banker Convicted of Tipping His Father on Deals – WSJ (subscription)

A former managing director at Perella Weinberg Partners LP was convicted of insider trading for tipping his father to pending health-care deals, resulting in more than $1 million in illegal profits.

‘Mystery Shoppers’ for Home Loans: Government Uses Undercover Techniques on Bank – WSJ (subscription)

In 2013, a loan officer at BancorpSouth Bank’s Madison, Ala. branch received visits from two people with similar profiles within 10 days of each other, both saying they were first-time home buyers—one white, the other black. The employee allegedly steered the black customer to a smaller and more expensive loan, even though her stated income and credit score were higher than the white applicant’s.

Company News

CLS Volumes Ease in July – Profit & Loss

The average daily input volume submitted to CLS, combining the settlement and aggregation services, fell 9.7% month on month in July, standing at 1,050,046.

GE Wants to Bring More Life to Coal – WSJ (subscription)

General Electric Co. has stopped trying to write coal’s obituary.

Market Savvy

European Stocks Rise as Fed Outlook Sinks Dollar; Brent Near $50 – Bloomberg

European shares rose for the first time in a week and emerging markets advanced as a gauge of commodities climbed for the sixth straight day and minutes of the Federal Reserve’s last meeting damped prospects for a U.S. interest-rate hike.

Ruble Gains to Month High as Oil Jump Puts Budget Goal in Reach – Bloomberg

The ruble strengthened, on course for its third weekly increase, and Russian stocks approached record highs as oil on the cusp of a bull market bolstered expectations that the world’s biggest energy exporter will meet budget revenue targets.

Euro Zone Return to Inflation Confirmed as Food Prices Surge – Reuters

A modest uptick in euro zone inflation in July was confirmed by data on Friday which showed food prices surging over the year, although overall price indices still fell in 12 of the 19 member states.