TOP STORIES 
 
U.S. STOCKS CLIMB BROADLY 

U.S. stocks rose broadly. The S&P 500 climbed 0.3%, with materials shares leading gains across most major sectors.

CBO BOOSTS U.S. DEFICIT FORECAST ON WEAKER FEDERAL REVENUES 

Budget analysts said Tuesday the U.S. will run a larger budget deficit this year because a slowdown in corporate profits will result in lower revenues than previously estimated.

APOLLO TO PAY $52.8 MILLION OVER FEE PRACTICES 

Apollo Global Management agreed to pay $52.8 million to settle Securities and Exchange Commission charges over its fee practices, the largest settlement to date by a private-equity firm in the agency's broad examination of the industry.

BEST BUY SHARES JUMP AS ONLINE SALES CLIMB 

Best Buy reported a surprise increase in second-quarter sales, helped by a sharp jump in its online business as the retailer lured shoppers in a difficult market.

U.S. NEW HOME SALES RISE TO HIGHEST LEVEL SINCE 2007 

Sales of newly built homes jumped 12.4% in July to the highest level in since October 2007, a sign of solid momentum in the U.S. housing market.

FUGITIVE TECH CEO ALEXANDER  RETURNING TO U.S. IN PLEA DEAL 

Kobi Alexander, a fugitive technology executive who has spent a decade hiding in Africa from criminal charges in a stock-options backdating scandal, is returning to the U.S. to plead guilty in Brooklyn federal court.

VIACOM'S DAUMAN HAS UNTIL SEPTEMBER TO SHARE PARAMOUNT PLANS 

Viacom Chairman Philippe Dauman, who last week was ousted as chief executive, will have less than a month to update the board on a plan to sell a minority stake in Paramount Pictures, the company said.

AIG IN TALKS TO SELL LLOYD'S INSURANCE OPERATIONS TO CANADA PENSION FUND 

American International Group is in early discussions to sell insurance operations connected with Lloyd's of London to Canada's biggest pension fund.

VOLKSWAGEN SETTLES SUPPLY DISPUTE, RESUMES PRODUCTION 

Volkswagen said it reached an agreement with suppliers that had cut off parts delivery, settling a conflict that reduced working hours for nearly 28,000 employees.

PZU IN TALKS OVER BUYING UNICREDIT STAKE IN BANK PEKAO 

UniCredit SpA is in talks with Polish insurer PZU SA over a possible sale of the Italian lender's stake in Bank Pekao SA, people familiar with the matter said Tuesday, in a transaction that would boost UniCredit's capital position.

GOLDMAN SIGNS $100 MILLION CREDIT FACILITY FOR ONLINE LENDER FUNDATION 

Fundation, which makes online business loans, this week completed a $100 million credit facility with Goldman Sachs to help it expand its recent partnerships.

P&G SUES EDGEWELL FOR PATENT INFRINGEMENT 

Procter & Gamble said it has sued smaller rival Edgewell Personal Care for patent infringement and said the company made misleading claims against P&G's Gillette subsidiary.

PINTEREST ACQUIRES NEWS-BOOKMARKING APP INSTAPAPER 

Pinterest Inc. on Tuesday said it had acquired article-bookmarking app Instapaper. Terms of the deal weren't disclosed.

FORMER FACEBOOK LIVE MANAGER LAUNCHES LIVE-STREAMING APP ALIVELY 

Vadim Lavrusik, the former product manager of Facebook Live, has co-founded Alively, an app meant for users who want to share live videos with a handful of people rather than their entire social network.

PROBE OF ASHLEY MADISON WEBSITE BREACH FAULTS SAFEGUARDS 

The parent company of infidelity website Ashley Madison failed to build a privacy and security framework to protect its customers, according to a joint probe by Canadian and Australian privacy authorities.

SONY TO RAISE PRICE OF PLAYSTATION PLUS SERVICE 

Sony Corp. is boosting the price of its PlayStation Plus service weeks before the company is expected to unveil two new versions of its flagship videogame console.

METLIFE 'SIFI' CASE SET FOR OCT. 24 HEARING 

A federal appeals court will hear oral arguments Oct. 24 on the Financial Stability Oversight Council's attempt to reinstate federal oversight of MetLife Inc.

U.S. LAWMAKERS PLAN HEARING OVER WAVE OF AGRICULTURE MERGERS 

U.S. lawmakers say they plan to examine a wave of mergers that could reshape the $100 billion global market for seeds and pesticides, a day after ChemChina said its planned takeover of Syngenta was cleared by Committee on Foreign Investment in the U.S.

SMUCKER REPORTS SALES DECLINE 

J.M. Smucker said price deflation hurt sales in its latest quarter, though the packaged-food company said cost cuts would help it meet its full-year earnings target.

EUROZONE PMI DATA POINT TO QUICKER RECOVERY 

The eurozone's economic recovery gained speed in August, according to surveys of purchasing managers that provide fresh evidence of the currency area's resilience in the wake of the U.K.'s decision to leave the European Union.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Business 
DISNEY AND VICE, A STORYBOOK ROMANCE 
 

The family-friendly entertainment conglomerate, worried about reaching young men in an era of cable-cutting, is betting big on the profane gonzo journalism of ex-punk rocker Shane Smith.

 
Business 
LOW EARNERS SEE PAYCHECKS GROW 
 

For Americans in the bottom quarter of the income scale, pay is rising at the fastest rate since the recession, and large firms are setting a public example, putting pressure on competitors to follow suit.

 
 
 

(END) Dow Jones Newswires

August 23, 2016 14:09 ET (18:09 GMT)

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