IN THE NEWS TODAY
President Trump will be making his way towards Las Vegas today after the recent shooting attack in the city. At least 59 people were killed and over 500 injured after a gunman opened fire on thousands of concertgoers at a country music festival. (CNBC)
The girlfriend of the man who carried out the Las Vegas massacre before killing himself arrived from the Philippines in Los Angeles, where FBI agents hoped to question her about the massacre, law enforcement officials said. (Reuters)
*Trump says gun-control debate 'not for now' (Reuters)
*Gunman made meticulous plan before assault in Las Vegas (NY Times)
House Republicans are leaning toward setting a higher tax rate for wealthy Americans than the one outlined by the White House and GOP leadership. The framework, unveiled last week, gave lawmakers the option of adding a fourth bracket to ensure that high-income households do not receive the biggest benefits. (CNBC)
*Republicans are reconsidering full repeal of state and local tax deduction (NY Times)
*Warren Buffett says eliminating the estate tax would be a mistake (CNBC)
Secretary of State Rex Tillerson openly referred to President Trump "a moron" after a July 20 meeting at the Pentagon, according to NBC News. Tillerson was on the verge of resigning this summer and had to be talked out of it by Vice President Mike Pence.
*Mattis pressed to defend Trump's rejection of US-North Korea talks (CNBC)
President Trump, while on a trip to Puerto Rico to observe hurricane recovery efforts, said that the island's massive debt will have to be wiped out. "They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," he said. (CNBC & Reuters)
*Trump to Puerto Rico: 'You've thrown our budget out of whack' (CNBC)
*Trump just set a new standard in his search for flattery (CNBC)
The Trump administration is reportedly finalizing a $29 billion disaster aid package that combines $16 billion to shore up the government-backed flood insurance program with almost $13 billion in new relief for hurricane victims. (AP)
After extensive interviews, Senate Intelligence Committee leaders are expected today to largely endorse the intelligence community's evidence that Russia sought to influence the 2016 U.S. elections, according to The Washington Post.
*Wisconsin, Michigan were reportedly main targets of Russia-linked ads on Facebook (Reuters)
First daughter Ivanka Trump and her husband Jared Kushner have re-routed their personal email accounts to computers run by the Trump Organization. The move came as scrutiny intensified over their use of private emails for official White House business. (USA Today)
Catalonia's pro-breakaway leader says that the region will declare independence from Spain "in a matter of days." Carles Puigdemont said his administration would that declaration "at the end of this week or the beginning of next." (CNBC)
Amazon (AMZN) has been ordered to pay $294 million back to Luxembourg after the European Commission found that the company received illegal tax benefits. According to the EC, Amazon received tax advantages between 2003 and 2011 and was given an unfair advantage. (CNBC)
Yahoo said that every single Yahoo account was affected by a data breach that took place in 2013. In 2016, it disclosed that more than 1 billion of about 3 billion accounts had likely been affected by the hack. Now, the company says all accounts were likely victimized. (CNBC)
Uber says it will accept an investment from SoftBank, joining a growing portfolio of U.S. tech investments made by intrepid mogul Masayoshi Son. The investment will be between $1 billion and $1.25 billion at the company's last reported valuation of $69 billion, sources told CNBC.
Former Equifax (EFX) CEO Richard Smith will appear before the Senate Banking Committee today to testify about the massive data breach that impacted up to 143 Americans. (CNBC)
STOCKS TO WATCH
Mylan (MYL) said it received FDA approval for its generic version of the Teva Pharmaceutical (TEVA) multiple sclerosis treatment Copaxone. Mylan was up about 16 percent in the premarket, while Teva was off a similar amount.
PepsiCo (PEP) third-quarter earnings topped Wall Street expectations, despite weak sales at its North American beverage business, which led to a miss on the top line. The company moderated expectations for full-year organic revenue growth.
Procter & Gamble (PG) CEO David Taylor urged shareholders to vote against activist investor Nelson Peltz in the upcoming board election, and to back the consumer products giant's turnaround plan. Taylor made his remarks in a q-and-a session with investors.
Ford Motor (F) unveiled a five-year plan that will see it cut costs by $14 billion and shift investment more toward trucks and electric and hybrid cars. CEO Jim Hackett said positive bottom line impact from those moves would not show up until 2019 and 2020.
Walt Disney (DIS) Chief Executive Officer Bob Iger said the company did consider a purchase of Twitter (TWTR) before buying a majority stake in sports streaming site BAMTech.
Mattel (MAT) named former Sprint (S) Chief Financial Officer Joseph Euteneuer as its new CFO, replacing Kevin Farr. Farr had served as the toy maker's CFO for 17 years.
The next Pixel phones are expected to come today, and the Alphabet-unit Google (GOOGL) wants you to know they're hoping to leave competitors, namely two glossy, recently launched rivals from Samsung and Apple, in the dust. (USA Today)
Snap (SNAP) has sold about 150,000 of its camera glasses, called Spectacles, said CEO Evan Spiegel, a figure he's proud of, given that Apple's iPod had about 143,000 net unit sales in its first full year in 2002. (CNBC)