German parliament seen backing Greek bailout despite rebellion (Reuters)
German lawmakers are expected to vote overwhelmingly in favor of Greece's third bailout on Wednesday, even though Chancellor Angela Merkel faces a dangerous rebellion in her own party ranks that suggests she cannot ask parliament to help Athens again.
A Bank for People Who Hate Banks (Bloomberg)
If Blomfield and Kingsmill get their way, Mondo won’t be just another snazzy app using the license of an existing bank. That’s been done in the U.S. by Simple.com, which piggybacks onto Bancorp Bank, and in Germany by Number26, which is bolted to Wirecard Bank. Unlike most other startups, Mondo has built proprietary software. If Mondo gets a license from the BOE’s Prudential Regulation Authority, it could—as early as next year—begin taking deposits and lending money.
J.P. Morgan Expected to Settle With SEC on Investment-Steering Case (Bloomberg)
J.P. Morgan Chase & Co. is in advanced talks with the Securities and Exchange Commission to pay more than $150 million to resolve allegations it inappropriately steered private-banking clients to its own investment products without proper disclosures, people familiar with the matter said.
N.J. hedge fund manager cleared of Carter's insider trading charges (Reuters)
A retired New Jersey hedge fund founder was acquitted on Monday on charges that he illegally traded in shares of children's apparel maker Carter's Inc in a rare defense trial win in an insider trading case. A federal jury in Atlanta cleared Steven Slawson, co-founder of Titan Capital Management, of all 34 counts he faced including for securities fraud, wire fraud and conspiracy, his lawyer said.
Victim Wants Charge Dismissed In Dildo Attack (TSG)
The Florida woman who was allegedly hit in the face with a dildo during an argument with her girlfriend has asked a judge to dismiss a domestic battery charge due to the “indescribable” humiliation caused by media coverage of the incident. In a July 29 letter to a Circuit Court judge, Gamze Capaner-Ridley described defendant Annette Kielhurn, 57, as a “kind, compassionate human being” who “truly doesn’t deserve to suffer more than she already has.” [...] In addition to the domestic battery count, Kielhurn is also facing a separate trespassing case stemming from her June arrest for allegedly refusing to leave Johnny Vapors, a St. Petersburg business that bills itself as a “premium e-cigs and vape lounge.”
DoubleLine's Gundlach says 'bad idea' for Fed hike with junk bonds at four-year low (Reuters)
Gundlach, widely followed for his prescient investment calls, said if the Fed begins raising interest rates in September, "it opens the lid on Pandora's Box of a tightening cycle."
Intel, Aiming Beyond PCs, Launches Reality TV Show (WSJ)
Dancing robotic spiders, touch-free vending machines and reality television all figure into Intel Corp.’s future as laid out by Chief Executive Brian Krzanich at a company event on Tuesday.
NBCUniversal to Invest in BuzzFeed (Bloomberg)
The company said Tuesday that it agreed to invest $200 million in BuzzFeed in a deal that people familiar with the situation said values the new-media company at $1.5 billion.
EM capital outflows surge towards $1tn (FT)
Analysts say the flow may accelerate following China’s currency devaluation this month and nervousness over an expected rate hike by the US Federal Reserve.
Lizard Found In Starbucks Latte, Customer Claims (HP)
Kim Dillon said she spit out a tiny, legless lizard from her sugar-free espresso drink last week, an experience that still disturbs her. "It was just so gross knowing it was in my mouth," she told ABC15.com. Her husband, Brian, was even more grossed out. "It was a lizard," Brian told the station. "A little lizard! That she drank. That went into her mouth." The couple put the reptile remains into a bag and took it back to the coffee shop, where employees apologized profusely. A Starbucks representative told the station it was disturbed by the news and would investigate the matter. A representative for the Fry's Marketplace, where the Starbucks was located, said it is having a pest control company go over the property thoroughly. The Dillons said they appreciate the efforts, but haven't said if they plan to sue.