Global stocks rally as investors scent fresh stimulus (Reuters) Japan's Nikkei 225 Rises 7.7% for Biggest Gain Since October 2008 (BBG) China's Stocks Advance for Second Day Amid Stimulus Speculation (BBG) Abe Pledges Corporate Tax Cut as Investments Slump (BBG) U.S. to shift 50 staff to boost office handling Clinton emails (Reuters) Chinese Premier Li Keqiang Says China Doesn't Want a Currency War (BBG) One Thing China Got Right (BBG) Apple's pressure-based screens promise a world beyond cold glass (Reuters) Citigroup Sees 55% Risk of a Global Recession Made in China (BBG) Khamenei says Iran will not negotiate with U.S. beyond nuclear talks (Reuters) Clinton and Trump Descend on Washington to Continue Iran Fight (BBG) Quiksilver Files for Bankruptcy Protection in Delaware (BBG) U.N. says 850,000 to cross sea to Europe this year and next (Reuters) More US public debt could help monetary policy in long run (Reuters) U.S. Consumers Take on More Debt, Signalling Confidence in Economy (WSJ) Cyber-Extortionists Targeting the Financial Sector Are Demanding Bitcoin Ransoms (BBG) Intel to End Sponsorship of Science Talent Search (NYT) Overnight Media Digest WSJ - Americans took on more consumer debt in July, a sign of confidence amid low gas prices and steady job creation. Outstanding consumer credit, a reflection of nonmortgage debt, rose $19.1 billion or at a 6.7 percent annual rate in July, the Federal Reserve said Tuesday. (on.wsj.com/1JTAHpQ) - United Continental Holdings Inc's chief executive, Jeff Smisek and two top lieutenants stepped down as the result of a federal investigation into the airline's relationship with the former chairman of the Port Authority of New York and New Jersey. (on.wsj.com/1ibh2sK) - The federal government dealt a setback to Yahoo Inc's tax-free plan to spin off some $23 billion worth of shares in Alibaba Group Holding Ltd, potentially jeopardizing one of Chief Executive Marissa Mayer's defining moves in her three years running the company. (on.wsj.com/1Lix3E2) - Media General Inc said it agreed to buy Meredith Corp for about $2.4 billion in cash and stock, continuing a trend of consolidation in the U.S. broadcast industry as local TV stations look for negotiating leverage against large cable and satellite providers. (on.wsj.com/1UzIlxY) FT General Electric won European Union antitrust clearance to buy Alstom's power unit for $14 billion, its largest takeover, after agreeing to sell some of the French company's assets to Ansaldo Energia. Justin King, the former chief executive of British supermarket chain operator J Sainsbury Plc, is joining Guy Hands' Terra Firma Capital Partners as vice chairman. The U.S. Federal Reserve should hold off raising interest rates until the global economy is more stable, the World Bank's chief economist said. NYT - Intel, the world's largest maker of semiconductors, is dropping its longtime support of 'Science Talent Search,' the most prestigious science and mathematics competition for American high school students that brings 40 finalists to Washington for meetings with leaders in government and industry. (http://nyti.ms/1Nhj2ei) - Jeff Smisek, United Continental Holdings Inc's chief executive, resigned on Tuesday in the wake of a continuing investigation into corruption charges related to the company's dealings with the Port Authority of New York and New Jersey. (http://nyti.ms/1g8GDAy) - The U.S. Securities and Exchange Commission accused three former employees of Nomura Securities International on Tuesday of misleading customers about bond prices so they could earn illicit profits. (http://nyti.ms/1QnlGyR) - Austin Beutner, the publisher and chief executive of The Los Angeles Times, was dismissed on Tuesday after only a year in that position, the latest upheaval at a newspaper buffeted by management turmoil over the last decade. (http://nyti.ms/1Oc25CL) Canada THE GLOBE AND MAIL ** The North American auto industry is increasing the pressure on Canada, the United States and Mexico to extract a better deal for the North American Free Trade Agreement carmakers from a proposed Pacific Rim trade pact as negotiators sit down to meetings with Japan this week concerning the issue. (http://bit.ly/1JSAxNs) ** First Nations in Ontario are laying the groundwork for their own public inquiry into the disproportionate number of missing and murdered indigenous women and girls after being stonewalled for years by the federal Conservative government. (http://bit.ly/1NpdjEI) ** British Columbia's Premier Christy Clark has announced a C$1 million ($756,086) fund to assist Syrian refugees who settle in her province, saying Canadians have a duty to share the good fortune with which they've been blessed. (http://bit.ly/1UGyZeB) NATIONAL POST ** Dan Dodge, the head of BlackBerry Ltd's subsidiary QNX Software Systems, is retiring from the company he helped found by the end of this year. A BlackBerry spokeswoman said Dodge would be replaced by John Wall, currently the company's chief operating officer. (http://bit.ly/1O0CUnt) ** The trial of the 16-year-old Montreal resident accused of robbery to finance his jihadi mission opened on Tuesday in Quebec Court's youth division. A video was played of his interrogation the day he was arrested at his private high school on Oct. 17. (http://bit.ly/1hWyvUZ) ** As a growing number of Canadians step up to sponsor Syrian refugees and provinces and churches pledge to do more, a bureaucratic bottleneck is slowing the complex work of bringing displaced migrants to Canada. (http://bit.ly/1UAWTgA) Hong Kong SOUTH CHINA MORNING POST - Hong Kong's biggest airline, Cathay Pacific, has blamed "extensive" air traffic control restrictions for worsening delays, with the city's international airport slipping behind those in major mainland cities for the first time. A Cathay spokeswoman said extensive flow controls for flights to and from mainland China were having a significant impact on its operation. (http://bit.ly/1hVhP0e) - A proposed HK$180 per traveller fee for passengers flying out of Hong Kong International Airport may be lowered amid public concern, the transport minister said. Anthony Cheung Bing-leung said the authority had agreed the fee should not impose a burden, especially for economy passengers on short-haul flights. (http://bit.ly/1LiKBiW) - The warning bell signalling the end of Hong Kong's 12-year property rally is ringing louder with more experts predicting that the stock market rout and economic uncertainties will accelerate a price correction. Analysts expect home prices could fall as much as 10 percent this year. Hong Kong home prices have risen 9.8 percent since January after soaring more than 360 per cent from 2003. (http://bit.ly/1ET1p32) THE STANDARD - People who live in illegal accommodation including squatter huts have the right to vote, an acting chief magistrate ruled, adding he himself had once lived in a squatter area. Acting chief magistrate Andrew Ma Hon-cheung ruled that a man who lives in a Shek O squatter area is a valid voter and can stay in the register. (http://bit.ly/1UFr15f) - Mainland tourists feel welcome in Japan, South Korea and Europe but in Hong Kong they fear being punched, according to Executive Council member Regina Ip Lau Suk-yee. The New People's Party chairwoman also slammed anti-parallel goods protesters for hurting Hong Kong's image. (http://bit.ly/1ET2eZD) - China Communications Construction Co Ltd , a state-owned infrastructure builder, said it is confident of meeting its full-year target of 650 billion yuan ($102.11 billion) in new contracts and 390 billion yuan in revenues, given more railway contracts and public- private partnership projects it will undertake in the second half. (http://bit.ly/1XIFbXO) HONG KONG ECONOMIC JOURNAL - Beijing Shougang Co Ltd said it planned to issue 2.24 billion new shares to seven institutional investors, raising 11 billion yuan ($1.73 billion) to fund projects. Among the investors, two are controlled by Hong Kong tycoon Cheng Yu-tung, subscribing for 2 billion yuan worth of shares. Britain The Times Britain will not hesitate to carry out more drone strikes against young British jihadists in Syria if it is the only way to stop them planning attacks against the UK, the defence secretary said today. (http://thetim.es/1LWdFiU) German exports and imports rose to record levels in July as the weaker euro helped bolster trade outside the eurozone. (http://thetim.es/1LVnwFN) The Guardian Attempts are being made to water down George Osborne's new tax on all banks which make profits of more than 25 million pounds. John Mann, a Labour MP on the Treasury select committee, has tabled an amendment to the finance bill to exempt any bank or building society from paying the tax if it has a balance sheet of less than 25 billion pounds - essentially the new entrants. (http://bit.ly/1FwHBxt) The company established by the Treasury to hold the taxpayers' stakes in Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc has been warned to remain "ultra-vigilant" after it was revealed some of the City's biggest investment banks - including Goldman Sachs Group Inc and UBS Group AG - are charging the government a 1 pound fee for work that would normally cost tens of millions of pounds. (http://bit.ly/1NowGh7) The Telegraph Oil company investment in the North Sea is expected to slump by up to 4 billion pounds per year through to the end of 2018 as operators slash costs to compensate for lower prices, the industry trade body has warned. (http://bit.ly/1UzWxXF) Britain's diplomatic corps should swing into action on behalf of the Royal Bank of Scotland and lobby their U.S. counterparts to scrap litigation against the bank, according to Jacob Rees-Mogg, a high-profile member of parliament who sits on the influential Treasury Select Committee. (http://bit.ly/1g87OeL) Sky News A string of private equity firms have abandoned offers for Tesco Plc's data arm after the retailer struck a deal with the unit that left prospective buyers concerned about financing. (http://bit.ly/1ivpfrC) Metro Bank, Britain's first new high street lender in more than a century, has kicked off talks with advisers as it steps up its preparations for a London listing that could value it at more than 1 billion stg. (http://bit.ly/1M8gd0q) The Independent Deutsche Lufthansa AG is cancelling 1,000 flights on Wednesday following pilot strikes, the airline has confirmed. (http://ind.pn/1ibi4oJ)