As foreshadowed a few weeks ago, the Bank of England has cut its main interest rate to an historically low .25 percent in an effort to address the impact of June’s Brexit vote. The BOE will start bond buying in September – NYTimes and WSJ and Bloomberg

Bill Ackman’s Pershing Square is looking to turn around another rough year for its hedge fund portfolio by selling off its entire stake in Canadian Pacific Railway—a roughly $1.5 billion move. Ackman shed 20 million shares of Mondelez Int’l and 16 million shares of Zoetis earlier this year – NYTimes and Bloomberg

More on what big anticipated changes in money-market regulations are expected to do to the $2.7 trillion industry, including how fear of them has already prompted investors to move $500 billion in, out, and around these funds – WSJ

Goldman Sachs will pay $36 million to resolve the Federal Reserve’s long-running investigation into a leak of confidential NY Fed info to a junior banker at Goldman in 2014 – NYTimes and WSJ and Bloomberg and Law360

By taking a 10% stake in Hulu yesterday, Time Warner’s gifted the digital TV service with $580 million and “fresh programs” from CNN and TNT in an investment that will help Hulu right a ship facing rough waters these days – NYTimes and Bloomberg

Big Billy Gross’ latest investor letter: Birds, Bees, Bonds, and a distinct lack of Boundaries – WSJ

Bloomberg on the forthcoming bond sale that will likely have a lot to say about banks’ ability to “stay in the $566 billion business of packaging commercial mortgages into securities” that comply with rules designed to make CMBS safer – Bloomberg

The National Parks Service celebrates its centennial this month. For those of you nature nerds like me, the Ken Burns’ National Parks documentary is a must [especially during high season at the real thing]. But in a pinch, this CNN page is a solid start – CNN