TOP STORIES
U.S. TREASURY YIELDS PLUNGE
Treasury yields touched new lows Friday as investors continue to
grapple with slow global growth, ultraloose central bank policies
and the aftershocks of the Brexit vote.
GM, TOYOTA SALES DROPPED IN JUNE
The pace of growth in U.S. auto sales slowed in June as two of
the biggest players reported declines, fueling doubt about the
industry's ability to maintain its record clip.
LENDINGCLUB FUND HAS ITS VERSION OF JUNE SWOON
A fund managed by LendingClub that invests in the company's
online consumer loans expects to report its first-ever negative
month, according to investor documents reviewed by The Wall Street
Journal.
TOP WALL STREET REGULATOR'S SALARY APPROACHES $3 MILLION
The Financial Industry Regulatory Authority, which oversees
stockbrokers and monitors trading on exchanges, paid its chief
executive officer $2.9 million last year.
PUERTO RICO TO DEFAULT ON GUARANTEED DEBT
Puerto Rico will default on its guaranteed debt for the first
time Friday by failing to make most of some $1 billion in payments
due, officials said.
ECB URGES U.K. TO DRAW UP POST-BREXIT PLAN
Top ECB officials called on Britain to create a post-referendum
road map, warning the nation's vote to leave the European Union
would weigh on the eurozone's economic recovery.
ATTACKERS TAKE HOSTAGES AT BANGLADESH RESTAURANT
A group of as many as nine gunmen attacked a restaurant in a
diplomatic zone of the Bangladeshi capital of Dhaka on Friday,
taking hostages and exchanging gunfire.
GENERAL MILLS EXPANDS FLOUR RECALL
General Mills Inc. said it was expanding its recall of flour
products to those produced last fall following a newly reported
illness.
HYPERLOOP ONE REPLACES CO-FOUNDER BROGAN BAMBROGAN WITH JOSH GIEGEL
Hyperloop One has replaced co-founder Brogan BamBrogan with its
vice president of engineering Josh Giegel, as the startup races to
bring its high-speed shuttle-transport technology to life.
SEC INVESTIGATING SOFTBANK, FORMER EXECUTIVE NIKESH ARORA
The SEC is investigating SoftBank and former executive Nikesh
Arora, according to a lawyer for investors in the Japanese telecom
firm.
FED'S MESTER SAYS 'GRADUAL' PATH OF RATE RISES REMAINS 'APPROPRIATE'
Federal Reserve Bank of Cleveland President Loretta Mester said
that while she is still gauging the impact to the U.S. of the U.K.
vote to leave the European Union, she continues to favor interest
rate rises over coming months.
WILLIAMS OUTGOING DIRECTORS AIR CEO GRIEVANCES
Two activist investors who resigned their Williams board seats
vowed to keep pushing for changes at the company and aired their
grievances with CEO Alan Armstrong.
MERCK TO BUY BRAZILIAN ANIMAL-HEALTH COMPANY
Merck & Co. said Friday that it would acquire controlling
interest in Vallee SA, a producer of animal-health products in
Brazil, for $400 million.
GERMANY PUTS MIGRATION-RELATED COSTS AT OVER $86 BILLION
The tidal wave of refugees that crashed through Germany's doors
last year has long turned to a trickle, but the costs of the inflow
will remain a burden on the country for years, budget figures
showed.
HONEYWELL TO BUY INTELLIGRATED, BOOSTING AUTOMATION PORTFOLIO
Honeywell agreed to acquire privately held Intelligrated, a
supplier of warehouse automation systems, for $1.5 billion in
cash.
APAX TO SELL CANADIAN AUTO MARKETPLACE TO PRIVATE-EQUITY FIRM
Apax Partners on Friday said it agreed to sell Trader Corp., an
online automotive marketplace based in Canada, to private-equity
firm Thoma Bravo for about $1.22 billion.
NUMBER OF U.S. OIL RIGS RISE BY 11 OVER PAST WEEK
The number of rigs drilling for oil in the U.S. rose by 11 over
the past week to 341, according to oil-field services company Baker
Hughes Inc., as oil prices were moved by the Brexit vote.
TIME INC. PLANS SIGNIFICANT REORGANIZATION
Time Inc. plans a significant reorganization to generate more
non-print revenue from videos, live events and deeper
collaborations with advertisers, as well as to encourage broader
distribution of content.
BUNDESBANK PRESIDENT OPPOSES POST-BREXIT EUROPEAN STIMULUS
The influential German central banker says the ECB is already
'very expansionary' and should not loosen monetary policy in
reaction to U.K. referendum.
PERSHING SQUARE LAYS OFF EIGHT LOWER-LEVEL EMPLOYEES
William Ackman's Pershing Square Capital Management LP, which
has been battered this year by a slumping portfolio, laid off eight
lower-level employees this week, according to people familiar with
the matter.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
U.S. News
LYNCH TO ACCEPT OFFICIALS' FINDINGS ON CLINTON'S EMAIL
Attorney General Loretta Lynch sought to contain fallout from
her meeting with Bill Clinton, saying she will accept prosecutors'
recommendations on whether to file charges in the Hillary Clinton
email probe.
Business
TESLA'S 'AUTOPILOT' FLEW UNDER REGULATORS' RADAR
U.S. auto-safety regulators have advocated for many of the
technologies Tesla Motors uses in its autonomous-driving system,
but had little power to stop or impose requirements on how it
released its Autopilot technology.
(END) Dow Jones Newswires
July 01, 2016 17:00 ET (21:00 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.