WSJ City: Social Media Slammed; Hedge Funds Suffering; Central Bankers’ Struggle for Relevance

WSJ City UK View this email in a web browser By Rebecca Byrne Good morning from London. Here's essential reading today from WSJ City  Are Facebook, Google and Twitter deliberately shirking responsibility in the fight against ISIS? MPs think so. Hedge funds suffered their heaviest outflows since early 2009 as investors lose patience. At Jackson Hole, the challenge for central bankers will be to prove they are still relevant. City Talk: UK car production rises, HP falls short, Ahold Delhaize's post-merger success. Glencore's recovery is unfolding much as it hoped. But that's in large part thanks to the markets. China's growth has long outpaced Europe's. Now its share of the equity market has too. Electoral maths. Republican Donald Trump faces an increasingly narrow path to the White House. Return of the CoCo: A complex form of European bank debt has made a comeback in recent weeks. JP Morgan is reaching further into the cloud, using the technology to cut costs and boost efficiencies. For updates throughout the day, you can download WSJ City for iPhone here or Android here. You'll need to open this email on your mobile device to do this.  In The Papers The oil price slump has hit the SNP's case for Scottish independence as economists warned that figures show the nation would face huge financial challenges. FT (£) The US Treasury Department released a sharp critique of the European Commission's investigation of corporate tax breaks as EU officials near the end of their inquiry into Apple's arrangements with Ireland. WSJ A think-tank has urged Theresa May to follow the lead of business and focus her UK industrial strategy on urban areas rather than the countryside. FT (£) An employment agency that supplies workers to Sports Direct is set to clash with MPs amid claims it gave false evidence at a parliamentary hearing. The Times (£) The Obama administration has moved to secure a second five-year term for Jim Yong Kim as World Bank president, a step likely to solidify US-backed leadership over the institution despite calls from other nations to open up the post. WSJ China's central bank has made a subtle change to the way it supplies the financial system with cash, a move that market watchers see as an attempt to cool investments in assets such as bonds, which have ballooned on an influx of cheap, short-term money. WSJ Markets Today London's FTSE 100 faces further losses on Thursday after oil prices slumped again. Brent crude fell sharply after weekly inventory data from the Energy Information Administration showed US oil stockpiles at a record high. US crude ended Wednesday's session down 2.8%. Oil prices inched even lower in Asia, dragging on the big commodities producing countries, such as Australia and Malaysia. Elsewhere in the region, stock markets were weaker amid continued caution ahead of the Federal Reserve's Jackson Hole symposium. As has been the case all week, traders are focused on what Janet Yellen will say in her speech on Friday, where many hope for a glimmer of guidance as to when the world's biggest economy will next raise interest rates. Some, however, say that even the expectation of guidance is too hopeful. "I think people are reading way, way too much into Jackson Hole," said Kay Van-Petersen, Asia macro strategist at Saxo Capital Markets. "From our perspective, it just does not make sense for Yellen to posture [to one side or the other]; I think she'll just keep the options open." Stocks to Watch: CRH 1H pretax profit €407m; raises dividend; Ahold Delhaize says on track for merger targets as earnings rise; Handelsbanken sells 6.8% stake in Industrivarden at SEK153.25/share; SAF-Holland withdraws all-cash offer for Haldex. Market Snap at 25/08/2016 6:48:22 GMT FTSE 100 Futures -0.19% GBP/USD -0.13% EUR/USD 0.04% Brent Crude Futures 0.12% Gold -0.01% 10-year Bund Yield -0.084% Advertisement Coming Up The CBI issues its latest report on business conditions in the UK retail, wholesale, and motor trades, while CML mortgage lending data is due at 9.30am BST. Follow WSJ City Follow WSJ Unsubscribe• Newsletters & Alerts• Contact Us• Privacy Policy• Cookie Policy SUBSCRIBE FOR FULL ACCESS TO WSJ.COM SIGN UP FOR THIS NEWSLETTER You are currently subscribed as jasajuejejeje@gmail.com For further assistance, please contact Customer Service at support@wsj.com Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.