Good morning! Here’s everything you need to know before your first meeting of the day.
1. The Fed’s Janet Yellen says she is more interested in maintaining a robust underlying finance system than in popping bubbles: The FT says that means there is little chance of an increase in interest rates to head off exuberant stock or bond markets, suggesting that investors will be allowed to inflate and collapse asset classes as long as the underlying financial system is strong enough to withstand any shocks.
2. A new report from UBS analyst Steve Milunovich suggests that voice messaging could actually be the key feature of the iWatch. Milunovich was recently able to talk to Apple CEO Tim Cook, who reportedly mentioned a trip abroad to China where he witnessed people walking down the street and dictating voice messages to their phone instead of texting.
3. Bank of England deputy governor Sir Jon Cunliffe has told the BBC that the housing market poses the “biggest risk” to the UK economy. He’s worried that when house prices rise faster than incomes it leads to too much debt in the economy.
4. Warren Buffett called Jamie Dimon to wish him well on his cancer treatment: He handled the public disclosure of his throat cancer diagnosis well, the FT says, saying that executives have a responsibility to provide shareholders with fast and accurate information about their health.
5. Tinder’s culture was riddled with frat-like behaviour, BusinessWeek claims: But Wolfe’s accusation goes even further. Her suit says, “Although it is tempting to describe the conduct of Tinder’s senior executives as ‘frat-like,’ it was in fact much worse — representing the worst of the misogynist, alpha-male stereotype too often associated with technology startups.”
6. The failure of government to protect girls in the U.K. from female genital mutilation is an “ongoing national scandal”, The Guardian says. A cross-party House of Commons committee has called for schools to lose funding if their headteachers do not do more to stop hardline Muslim parents from cutting their children.
7. Former French president Nicolas Sarkozy has been formally charged with influence peddling. The allegation against Mr. Sarkozy is that he sought insider information from a judge regarding an investigation into illegal campaign financing, the BBC says.
8. U.K. Home Secretary Leon Brittan was given a file in 1983 describing child abusers at work in Westminster and Whitehall. But the Home Office yesterday admitted the dossier is either lost or destroyed.
9. The Financial Conduct Authority will investigate whether traders manipulate share prices by placing large orders at the end of the day to boost or depress prices, Mark Garnier MP said at a Treasury Select Committee hearing.
10. People are really angry that Google was required to delete an a link to an article by the BBC’s Robert Peston on the departure of Stan O’Neal from Merrill Lynch. Here is the missing-link blog post, so you can read it yourself.
And finally …
The Independent thinks Andy Murray was unsettled by something shortly before the quarter final match at Wimbledon, which he lost in straight sets. Murray was heard muttering the words “shut the f*** up” to himself, as he struggled to stay in the game, and: “Five minutes before the f***ing match.” There is no further explanation!
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