Verizon

Frontrunning: January 10

  • Immigration in focus as U.S. Senate confronts Trump nominees (Reuters)
  • Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ)
  • Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ)
  • Valeant to sell assets for $2.12 billion to ease debt load (Reuters)
  • Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ)
  • Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters)

Frontrunning: January 6

  • December Jobs Data to Wrap Up Obama’s Economic Legacy (WSJ)
  • FBI Says Democrats Refused Access to Hacked E-Mail Servers (BBG)
  • As Trump attacks, Nissan at bigger risk than Toyota (Reuters)
  • Democratic leader Schumer emerges as Trump's newest punching bag (Reuters)
  • PBoC raises renminbi’s daily fix by most since 2005 (FT)
  • China central bank urges rational investment in bitcoin (Reuters)

Frontrunning: December 16

  • The narrative continues this time from Reuters: Putin turned election hacks in Trump's favor: officials (Reuters)
  • Russian Special Forces Key to Aleppo Victory (WSJ)
  • Dollar Hits Speed Bump in Fed-Driven Rally; Bonds Stem Declines (BBG)
  • Battered euro and yen recover after dollar surge (Reuters)
  • Wall Street's 2017 Forecasts Are Doomed If Trump Doesn't Follow Through On Campaign Promises (BBG)

Yahoo Shares Crash As Verizon Said To Consider Scrapping Deal Over Hacks

We warned it might anmd sure enough, following news of another one billion accounts hacked overnight, Bloomberg reports that Verizon is exploring a price cut or possible exit from its $4.83 billion pending acquisition of Yahoo, according to a person familiar with the matter.

Yahoo Admits Another Billion Accounts Hacked, Possibly By "State-Sponsored Actor"

Yahoo has just admitted that an unauthorized third party stole data associated with more than one billion user accounts, adding that "we have connected some of this activity to the same state-sponsored actor believed to be responsible for the previous data theft." Verizon, which agreed to acquire Yahoo: "As we’ve said all along, we will evaluate the situation as Yahoo continues its investigation."

Frontrunning: November 30

  • Oil soars on OPEC hopes, dollar renews its surge (Reuters)
  • Oil Rallies on OPEC Optimism, Spurring Gains in Energy Producers (BBG)
  • Saudis say to take 'big hit' on oil output for OPEC deal, Iran can freeze (Reuters)
  • Leaner and meaner: U.S. shale greater threat to OPEC after oil price war (Reuters)
  • an the U.S. Become an Energy Superpower in 2017? (BBG)
  • RBS Fails Toughest-Ever BOE Stress Test, Boosts Capital Plan (RBS)

Huffington Post Owner AOL Lays Off 5% Of Staff: 500 Workers Lose Their Jobs

The media bloodbath continued this morning, with another 500 workers, or 5% of the total staff, set to be let go by AOL. In a memo to staffers, CEO Tim Armstrong said that “based on our strategy and the changes we see in the industry, we are reshaping parts of the company today... The company ... will be aligned to drive a talent and operations plan in line with profitability."

US Taxpayers Pay AT&T Millions A Year For The Privilege Of Being Spied Upon

AT&T’s in house, for-profit surveillance operation called Project Hemisphere has nothing to do with information sharing legally required under a warrant, but rather consists of a business line through which the telecom giant stores customer data longer than peers in order to turn around and sell it to government agencies (no warrant required). This allows law enforcement to use secret and never disclosed evidence to build a cases against citizens via a shady and unaccountable practice known as parallel construction.