- Greece licks wounds after bailout vote, ECB move expected (Reuters)
- Lose-Lose: Pushing Greece Out of Euro Is Costlier Than Write-Off (BBG)
- EMU brutality in Greece has destroyed the trust of Europe's Left (Telegraph)
- Schaeuble Shrugs Off Greek Vote Saying Euro Exit Is Best (BBG)
- Merkel’s tough tactics prompt criticism in Germany and abroad (FT)
- Investors Get Caught in Oil’s Slippery Wake (WSJ)
- Obama Girds for Battle With Congress on Iran Deal (WSJ)
- Icahn Flips Script on BlackRock’s Fink, a Longtime Critic (WSJ)
- Rice - Iran cannot avoid inspections of suspicious sites (Reuters)
- Drought Is the Mother of Invention on the Farm (WSJ)
- Puerto Rico Says It Failed to Send Money for Bond Payments (BBG)
- Congress to probe Planned Parenthood use of aborted fetus tissue (Reuters)
- EU Launches Antitrust Investigations Into Qualcomm (WSJ)
Overnight Media Digest
WSJ
* Greece's Parliament passed austerity measures needed to secure a fresh bailout, but a rebellion within the ruling Syriza party is testing whether Prime Minister Alexis Tsipras can hold his government together as he seeks to complete the deal. (http://on.wsj.com/1LkBWzT)
* Federal Reserve Chairwoman Janet Yellen said the central bank was on a path to raise rates this year as the economy improves, in semiannual testimony to Congress that got off to a fiery start Wednesday. (http://on.wsj.com/1TCm7HL)
* The cost of resolving police-misconduct cases has surged for big U.S. cities, with the 10 cities with the largest departments paying out $248.7 million last year. (http://on.wsj.com/1fKNz7J)
* U.S. President Barack Obama delivered a forceful defense of the Iran nuclear deal the day after it was reached, girding for a complicated political struggle with Congress. (http://on.wsj.com/1Mvpyvz)
* A U.S. hedge fund's challenge to a once-in-a-generation succession at Samsung is forcing South Korea's most powerful family to rethink its relationship with shareholders. (http://on.wsj.com/1gCzFol)
* In resisting a takeover bid from rival Monsanto, Syngenta has argued that a merger would run afoul of antitrust regulators, but Monsanto disputes that. (http://on.wsj.com/1DicjsY)
FT
Deutsche Bank AG is now being investigated by the UK regulator the Financial Conduct Authority to see whether the bank breached any anti-money laundering laws for its Moscow clients. Earlier this week, New York's banking regulator asked the bank to provide details about a suspected bribe to a Moscow bank employee as part of its investigation.
British payments processing firm Worldpay (IPO-WORLD.L) took a step nearer a potential stock market listing by appointing Barclays' deputy chairman Michael Rake as its new chairman on Wednesday.
Santander Consumer Holdings USA has named former JPMorgan Chase & Co executive Blythe Masters as its non-executive chairman.
Belgian Privacy Commission defended its decision to take Facebook to court by calling it "politically motivated". The data protection agency took the company to court alleging that the company tracks people over the web even if they do not use the service.
NYT
* More than 15 months after a law firm hired by Qatar, the site of the 2022 World Cup, issued a report urging reforms in the treatment of migrant construction workers, critics say many of the major recommendations remain unaddressed, and thousands of foreign laborers continue to work under conditions akin to indentured servitude.(http://nyti.ms/1CFdgRf)
* Under threat from the nation's creditors to move quickly or lose any chance of obtaining a desperately needed new bailout package, Greece's Parliament approved painful new austerity measures early Thursday, virtually guaranteeing that life would get harder for millions of Greeks. (http://nyti.ms/1CFdlV3)
* Dispensaries for expensive drugs that treat complex or rare diseases are surging, but their customer service and business practices are under scrutiny.(http://nyti.ms/1CFdDLS)
* Janet Yellen, the Federal Reserve chairwoman, told lawmakers on Wednesday that proposals to increase congressional oversight of the central bank could cause collateral damage to the broader economy. (http://nyti.ms/1CFdNTi)
* Nearly 80 years after kicking out foreign oil companies, Mexico reversed course on Wednesday, auctioning 14 exploration blocks in an effort to attract international energy giants and increase the country's slumping production. But the results were a disappointment. (http://nyti.ms/1CFdRCw)
* Public Finance Corporation, a financing unit of the Puerto Rican government failed to make a $93.7 million debt-service payment on Wednesday, underscoring recent warnings by Governor Alejandro Garcia Padilla that the commonwealth, which is seeking a "negotiated moratorium" on its $72 billion of debt, is fast running out of cash. (http://nyti.ms/1CFdTuc)
Canada
THE GLOBE AND MAIL
** The Bank of Canada lowered its trend-setting overnight rate a quarter percentage point Wednesday to 0.50 percent - the second rate cut in six months. (http://bit.ly/1fLnzJn)
** Shaw Communications Inc said Thursday it will open a 40,000-square-foot data center in Calgary and launch a number of cloud computing and data management services aimed at enterprise customers. (http://bit.ly/1fLnEgl)
** Premium apparel producer and retailer Tilley Endurables Inc, known for its hard-wearing sun hats, has been sold to a private equity firm, with the goal of reversing its slide in sales amid tougher competition. Re:Capital, the Canadian arm of British firm Hilco Capital, has acquired Tilley, the company said on Wednesday. (http://bit.ly/1I58GOo)
NATIONAL POST
** Waste disposal company Stericycle Inc said it would buy privately held Shred-it International Inc, a secure information destruction services provider, for $2.3 billion in cash. (http://bit.ly/1fLojy9)
** Cogeco Inc's profit and revenue jumped in the third quarter, mainly on the back of growth in its U.S. cable services as well as favorable exchange rates. Revenue for the Montreal-based company increased by 4.1 percent to $557.8 million. (http://bit.ly/1fLoXMi)
** The Canadian government is actively consulting on a move to increase the minimum down payment required to buy a house. Sources say that Ottawa has been studying proposals to increase the minimum down payment from five percent and said the government is particularly keen on adding restrictions for high-priced housing. (http://bit.ly/1fLp5eH)
Hong Kong
SOUTH CHINA MORNING POST
-- The high court has appointed two provisional liquidators for the cash-strapped company behind Sing Pao Daily News, raising fresh doubts over the future of the city's oldest Chinese-language newspaper. Another Chinese daily, the Hong Kong Daily News, went out of business on Sunday after 56 years, succumbing to years of financial losses. (bit.ly/1M6JSFJ)
-- The ICAC has been drawn into a global hacking controversy after leaked emails showed graft-busters sought the services of an Italian online surveillance company notorious for helping governments. The revelations surfaced after Milan-based cybersecurity firm Hacking Team became the victim of a cyberattack where hackers hijacked its Twitter account and published the information. (bit.ly/1e1sEvf)
THE STANDARD
-- Ten public housing estates with 24,000 households will be tested for lead contamination as the Hong Kong government tries to staunch worries over hazardous heavy metal in drinking water. The water scare was prompted by a Democratic Party investigation that found excessive lead levels in water samples at Kai Ching Estate. (bit.ly/1So4yZw)
-- Hong Kong's big-ticket home deals hit an all-time high last month but are expected to ease amid stock market jitters. The Land Registry logged 163 registrations in June of used homes valued above HK$20 million ($2.58 million), or 3.7 percent of the 4,443 homes registered in the secondary market last month. That marked the highest share since records began in 1996. (bit.ly/1Gn2uKi)
HONG KONG ECONOMIC JOURNAL
-- China home grown sports brand 361 Degrees International Ltd, which recorded a 7.2 percent growth in same store sales in the quarter ended June, said it did not expect the number of stores in its network to increase or decrease significantly in the upcoming quarters.
HONG KONG ECONOMIC TIMES
-- China Overseas Land and Investment Ltd said its contracted sales totalled HK$85.45 billion ($11.02 billion) for the first half of 2015, up 17 percent from a year ago. It met 50.9 percent of its annual sales target of HK$168 billion.
Britain
The Times
GROVELLING TSIPRAS FIGHTS FOR THE REFORMS HE LOATHES
Alexis Tsipras, the Greek prime minister, last night was fighting for survival as he struggled to push through reforms, including spending cuts and tax rises, in a series of crucial parliamentary votes. (http://thetim.es/1I3xZAy)
JOBLESS RATE RISES TO WORST IN TWO YEARS
George Osborne has suffered a setback only a week after his budget with the worst set of official jobs figures in two years. Taking markets and forecasters by surprise, unemployment rose to 5.6 percent in the three months to May and employment fell by 67,000. (http://thetim.es/1MuQSdh)
The Guardian
MICHAEL RAKE LEAVES BARCLAYS DAYS AFTER OUSTING CHIEF EXECUTIVE ANTONY JENKINS
Barclays Plc faces further boardroom upheaval after it emerged the deputy chairman, Michael Rake, who played a key role in ousting Chief Executive Antony Jenkins last week is also to leave the bank. (http://bit.ly/1MuQUC8)
BRITISH GAS TO CUT GAS PRICES BY 5 PERCENT
British Gas has announced it will cut gas prices by 5 percent from the end of August. Britain's biggest energy provider said that the price cut, which will take effect from Aug. 27, would reduce annual energy bills on average by 35 stg and benefit 6.9 million of its customers on Standard and Fix & Fall tariffs. (http://bit.ly/1K8c0Wz)
The Telegraph
BRITISH TAXPAYERS 'PROTECTED' AS OSBORNE STRIKES DEAL ON GREEK LOANS
British taxpayers will not be left exposed for another Greek bailout, Chancellor George Osborne hopes, under a compromise struck with Jean-Claude Juncker. (http://bit.ly/1I41OPr)
SINGAPOREAN INVESTOR TO BUY 20 PCT STAKE IN LONDON HOUSE BUILDER GALLIARD GROUP
Singapore's Oxley Holdings Ltd is to buy a 20 percent stake in house builder Galliard in a deal that highlights continued Asian interest in London's booming property market. (http://bit.ly/1O7iupj)
Sky News
GROCERS FACE CMA ACTION AFTER SUPER-COMPLAINT
The Competition and Markets Authority (CMA) will on Thursday unveil a series of recommendations aimed at improving the transparency of supermarkets' pricing activities. (http://bit.ly/1I3rOuf)
OFCOM TO REVIVE PROSPECT OF BT GROUP BREAK-UP
Ofcom is set to seek views about the impact of BT Group Plc hiving off Openreach, the unit which manages access to the national telecoms network. (http://bit.ly/1Hvugs7)
The Independent
GOVERNMENT FACES MULTI-BILLION POUND BLACK HOLE IN BUDGET TO PAY FOR CLEAN ENERGY SUPPLIES - WHICH COULD MEAN YOUR ELECTRICITY BILL RISES
The government is facing a multi-billion pound black hole in its budget to pay for new clean energy supplies, which could result in rising household electricity bills unless there is a dramatic decline in investment in renewable technologies. Department of Energy and Climate Change has already overspent its budget by 1.5 billion stg to support renewable energy projects over the next five years. (http://ind.pn/1e1mhrZ)