Some 779,000 flood-hit Texans have been told to leave their homes and another 980,000 fled voluntarily amid dangers of new flooding from swollen rivers and reservoirs after the powerful storm Harvey. Forty-four people have died in the aftermath. Meanwhile, the city of Beaumont, east of Houston, had its water supplies cut off. (Reuters)
*Noxious smoke and contaminants pose public health risks (NYT)
*Here's a near-real time aerial photo map of Harvey's flooding and damage (CNBC)
The White House and Congress are discussing a plan that would authorize roughly $6 billion in emergency assistance to deal with the devastation caused by Hurricane Harvey, and President Trump could send a specific request for the funding as soon as today. (Washington Post)
*Trump pledges $1 million of his own money to Harvey relief (CNBC)
Hurricane Harvey will likely wind up being the most expensive natural disaster in American history, costing the economy about $190 billion, according to AccuWeather. (CNBC)
Travelers and fuel suppliers across the United States braced for higher prices and shortages ahead of the Labor Day holiday weekend as the country's biggest fuel pipelines and refineries curb operations after Hurricane Harvey. (Reuters)
*Asian refiners ramp up output to fill supply gaps left by Harvey (Reuters)
IN THE NEWS TODAY
The CEOs of Apple, Amazon, Facebook and Google joined roughly 300 business leaders urging President Trump to continue protecting children brought illegally to the U.S. from being deported. Trump today is expected to eliminate that legal shield entirely for those so-called "dreamers." (Recode)
The Trump administration is announcing
Treasury Secretary Steven Mnuchin said the Trump administration has a "very detailed" tax plan ready and "couldn't be more excited" about its prospects. He said the plan has been presented to members of Congress and will be released to the public by the end of September. (CNBC)
*Treasury inspector general to review Mnuchin's flight to Fort Knox (Washington Post)
*Mnuchin just put Harriet Tubman's role on the $20 bill in question (CNBC)
Russian President Vladimir Putin urged today the U.S. and others to avoid going down a "dead-end road" with North Korea , adding only dialogue without pre-conditions could resolve the crisis. Last week, the U.S. and Japan imposed fresh sanctions on entities and organizations that support North Korea. (CNBC)
Pyongyang University of Science and Technology, North Korea's only western-funded university, will start the fall semester without its dozens of American staff after failing to secure exemptions to a U.S. travel ban that starts today. (Reuters)
Amazon is working on plans to roll out its one- and two-hour membership delivery service into Canada later this year, a move that marks a broader push into the country by the retailer. Amazon could begin offering its Prime Now service in Vancouver and Toronto in November and January, respectively. (WSJ)
Amazon and Microsoft, two archrivals in cloud computing, announced they are teaming up so programmers can more easily take code they manage in Microsoft's tools, and roll it out on Amazon's cloud. Earlier this week, we saw the marriage of Amazon's Alexa virtual assistant and Microsoft's Cortana. (CNBC)
Samsung said it's received a permit to test self-driving vehicles in California, marking the entry of the world's largest smart phone maker four months after iPhone maker and arch rival Apple received a permit. (Reuters)
STOCKS TO WATCH
Lululemon (LULU) shares were up more than 5 percent premarket this morning after the yoga wear maker posted adjusted quarterly profit of 39 cents per share, 4 cents above estimates. Revenue also beat forecasts, as did its comparable store sales. Lululemon also raised its full-year forecast.
Palo Alto Networks (PANW) beat estimates by 13 cents with adjusted quarterly profit of 92 cents per share, with the cybersecurity software maker also beating on the top line. Palo Alto said it added a record number of new customers during the quarter. Separately, the company announced that CFO Steffan Tomlinson will retire and that a search for his replacement is underway.
Tenet Healthcare (THC) is replacing CEO Trevor Fetter and several directors. The hospital operator has been under pressure from activist investor Glenview Capital Management, Tenet's largest shareholder with a 17.8 percent stake. Tenet shares have lost about three-quarters of their value over the past two years. Fetter will depart by mid-March.
DowDuPont (DWDP) announced the successful completion of its merger of equals between Dow Chemical and DuPont. Meanwhile, Hewlett-Packard Enterprise (HPE) completed the spinoff of its enterprise software businesses, as it shifts its focus to cloud services.
Apple is officially hosting its iPhone 8 event on Sept. 12. The company is expected to unveil three new iPhones, including the iPhone 7s, iPhone 7s Plus, and iPhone 8. The new iPhone 8 is expected to be the biggest change to the iPhone in a long time. (CNBC)
*Apple is planning big changes for how you use your iPhone (CNBC)