Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Earnings - Banking] Goldman Sachs revises its earnings on account of adding nearly $2 billion in legal fees relating to the 1MDB scandal. The legal fees nearly wipe out the $2.2 billion profit that was reported a few weeks ago.
[M&A] Intercontinental Exchange (ICE) has agreed to an $11 billion cash-and-stock deal to buy over Ellie Mae, a software company that processes US mortgage applications.
[Economy - U.S.] U.S. unemployment rate falls to 10.2%, adding 1.763 million to the labor force in July. This follows the June job report, wherein the U.S. economy added 4.8 million jobs.
Over60: Yahoo! Finance
[Trade Relations] The U.S. to reimpose a 10% tariff on select aluminum imports from Canada.
[Regulation] Capital One, the American credit-card giant, fined $80 million over data breach that allowed hackers to obtain personal data of more than 106m customers and credit card applicants last year.
[Economy - Pakistan] Pakistan refinances $1 billion Saudi Arabia loan with a $1 billion loan from China. This was part of a $6.2 billion financial package containing a $3 billion loan and $3.2 billion in gas supplies. Pakistan is paying a 3.2% interest rate on the loan.
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