Business

• U.S. Republicans left scrambling after health bill sinks again (Reuters); Republicans Give Up on Health-Care Reform, Now Seek Straight Repeal (BBG)
• Trump Blames Democrats and a ‘Few Republicans’ for Health-Bill Wreck (BBG)
• House Republicans Set Out Plan to Rewrite Tax Code (WSJ)
• House GOP Budget Ignores Trump’s Cuts to Domestic Agencies (BBG)
• House Republicans unveil 2018 budget with tax reform instructions (Reuters)
• UK inflation unexpectedly falls and eases rate-hike fears (AP)

Echoing the trend set by JPM and Wells Fargo last Friday, moments ago Bank of America reported revenue and earnings that modestly beat expectations, with Q2 revenue of $22.8bn, above the $21.8bn expected, generating net income of $5.3 billion up 10% Y/Y, and EPS of $0.46, above the $0.43 estimate, and 12% higher than Q2 2016.

Bulletin headline summary from RanSquawk

With tuition costs rising more than twice as quickly as consumer prices, a generation of recent college graduates are struggling to strike out on their own, burdened by a $1.4 trillion pile of debt that ineligible to be erased by the tonic of bankruptcy protection. Tuition costs have been blamed for nearly all of the ills facing the millennial generation. The rate at which re cent graduates are moving back homme with mom and dad has never been higher, with nearly a third retreating back to the basement as they struggle to jobs with adequate pay.

For better or worse, just about everybody has heard of Uber. Over the last few years, the ride-haling company has grown to dominate the market in the U.S. and beyond, currently operating in over 400 cities around the globe - despite significant resistance and outright bans in some places. DiDi, on the other hand, is unlikely to be on your radar. Having bought out Uber's operations in China last year, the company currently enjoys 95 percent market share in its home country.