TOP STORIES 
 
HP REPORTS LOWER EARNINGS, REVENUE 

HP's revenue and earnings shrank in the most recent quarter, but the company showed signs of stabilizing the personal-computer business, its largest revenue source.

U.S. CRITICIZES EU ON CORPORATE TAX PROBES 

The U.S. Treasury Department released a sharp critique of the European Commission's investigation of corporate tax breaks as EU officials near the end of their inquiry into Apple's arrangements with Ireland.

HEALTH-CARE STOCKS SLIDE ON CLINTON'S EPIPEN REMARKS 

U.S. stocks fell as renewed political pressure to tamp down on drug prices pushed health-care stocks lower.

FED OFFICIALS TO MEET WITH ACTIVISTS BEFORE JACKSON HOLE 

When Federal Reserve officials gather for the Kansas City Fed's high-profile policy conference in Jackson Hole, Wyo. this week, some of them will start with an unprecedented event.

VIACOM MAY TIGHTEN REINS ON PARAMOUNT 

Paramount Chief Executive Brad Grey and his team are under pressure from the Viacom board to defend their film record and present a turnaround plan.

ITALY EARTHQUAKE KILLS 120, LEAVES DOZENS MISSING 

A 6.2-magnitude earthquake struck central Italy early Wednesday, flattening towns and killing at least 120 people, with dozens missing and many trapped beneath the rubble of buildings that collapsed while they slept.

PFIZER BUYS PART OF ASTRAZENECA'S ANTIBIOTICS BUSINESS 

Pfizer said the deal would boost its stable of older products, some of which have lost patent protection.

OIL PRICES FALL ON RECORD U.S. INVENTORIES 

Oil prices slid after weekly inventory data showed U.S. stockpiles of crude oil and petroleum products at a record high.

KOBI ALEXANDER ORDERED DETAINED IN LONG-RUNNING BACKDATING CASE 

Jacob "Kobi' Alexander, a fugitive technology executive who spent a decade in Africa rather than face criminal charges in a stock-options backdating scandal, pleaded guilty Wednesday to securities fraud in Brooklyn, N.Y., federal court.

U.S. EXISTING-HOME SALES FALL FOR  FIRST TIME SINCE FEBRUARY 

Sales of previously owned homes slipped 3.2% in July, a sign the U.S. housing-market recovery could be uneven as limited inventory and rising prices put purchases out of reach for some Americans.

MORE U.S. RETAILERS PROBE INDIAN SUPPLIER OF 'EGYPTIAN COTTON' 

Wal-Mart Stores, Target and other big U.S. retailers have become entangled in a controversy over whether one of India's biggest textile companies has been supplying their stores with phony "Egyptian cotton" sheets.

J.P. MORGAN CREATES EXECUTIVE ROLE TO LEAD CLOUD SERVICES 

J.P. Morgan Chase is reaching further into the cloud, using the technology to cut costs and boost efficiencies.

U.S. REGULATORS STEP UP SCRUTINY AROUND SWIFT 

U.S. banking regulators are ramping up oversight around financial messaging system Swift, a key intermediary in global payments that faces greater scrutiny following a rash of cyberattacks on its users.

FED'S KAPLAN SAYS RATE RISE IS GETTING CLOSER 

Federal Reserve Bank of Dallas President Robert Kaplan said he expects the Fed to raise interest rates this year if the U.S. grows at around 2% and sees declining unemployment levels.

WORLD'S LARGEST AIRCRAFT DAMAGED AFTER ROUGH LANDING 

The developer of the world's largest aircraft says the blimp-shaped airship sustained damage after it made a bumpy landing on its second test flight in eastern England.

AMERICAN UNIVERSITY OF AFGHANISTAN ATTACKED 

Militants stormed the heavily-barricaded American University of Afghanistan in Kabul Wednesday evening, firing at students in an attack that left at least one person dead and wounded 25 others.

FORD RECALLS VEHICLES OVER STALLING PROBLEM 

Ford Motor Co. is recalling more than 88,000 cars and SUVs in North America because the engines can stall without warning because of a fuel pump problem.

AAA WARNS OF MISCONCEPTIONS REGARDING AUTOMATIC BRAKING 

The automatic emergency braking systems showing up on an increasing number of vehicles may not work quite the way drivers think they do, according to a study conducted by AAA.

GLENCORE REPORTS NARROWER LOSS, CUTS DEBT 

Commodities giant Glencore reported a narrower first-half net loss and signaled that it is on track to reduce debt by selling unwanted assets.

WORKDAY POSTS HIGHER REVENUE, THOUGH LOSS WIDENS 

Business software provider Workday Inc. reported revenue climbed more than a third, but the company's loss was wider than expected in the face of rising expenses.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Capital Account 
CENTRAL BANKERS' MAIN CHALLENGE: STAYING RELEVANT 
 

When central bankers gather this week in Jackson Hole, Wyo., they will be consumed not with some pressing crisis in the global economy but by an existential threat to their relevance, Greg Ip writes.

 
Markets Main 
BUFFETT COULD LOSE AN $8-PER-SECOND WINDFALL ON HIS DOW CHEMICAL STOCK 
 

The Dow Jones Industrial Average's recent rise has lifted many stocks in Berkshire Hathaway's portfolio, but the rally in Dow Chemical has put the chemical firm's dividends to Warren Buffett's company at risk.

(END) Dow Jones Newswires

August 24, 2016 17:22 ET (21:22 GMT)