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Frontrunning: April 3
- Iranians celebrate, Obama hails 'historic' nuclear framework (Reuters)
- Iran Nuclear Accord Hailed as Landmark After Marathon Talks (BBG)
- Two New York City women accused of planning 'terrorist attack' (Reuters)
- Cyprus Lifts Capital Controls Two Years After Deposits Bail-In (BBG)
- Jury Hits Chrysler With $150 Million Penalty in Boy’s Death (WSJ)
- Greece says ready to make IMF payment on April 9 (Reuters)
- Germanwings Co-Pilot Set Plane to Go Faster Before Crash (BBG)
- IBM hire advisers to deal with restless investors - sources (Reuters)
- Distressed Diva Tilton Has More Than Just the SEC to Worry About (BBG)
- California activists want water restrictions to include oil industry (Reuters)
- Euro-Area Bonds Jump as ECB QE Lowers Costs From France to Italy (BBG)
- Kenya Student Smears Blood to Play Dead During Al-Shabaab Attack (BBG)
- Samsung Said to Win Apple A9 Chip Orders for Next IPhone (BBG)
- Yemen Houthi Rebels Withdraw From Aden Presidential Palace (BBG)
Overnight Media Digest
WSJ
* Iran and six world powers have agreed on parameters of a deal meant to block Tehran from developing nuclear weapons in exchange for the lifting of tough Western sanctions. (http://on.wsj.com/1BWx9wQ)
* Israelis across the political spectrum say they oppose an agreement they see upending the Middle East's fragile balance of power. (http://on.wsj.com/1ChrCjm)
* A jury ordered Chrysler to pay $150 million to the family of a 4-year-old Georgia boy killed when the 1999 Jeep Cherokee he was in burst into flames during a rear-end collision in a case that put a spotlight on the safety of older vehicles. (http://on.wsj.com/1FnOeDA)
* Venture-capital firms, such as Andreessen Horowitz, are taking advantage of soaring values for tech startups by creating impromptu funds that take a direct stake in a single startup. (http://on.wsj.com/1FnOeDA)
* The FTC is considering possible settlement terms to allow Reynolds American to proceed with its $25 billion acquisition of rival tobacco company Lorillard, people familiar with the matter said. (http://on.wsj.com/1BWzhF8)
* Petroleo Brasileiro SA, Brazil's biggest company by revenue, has lost its investment-grade bond rating from Moody's Investors Service and is in danger of being downgraded by other rating firms as it grapples with the financial fallout from a corruption scandal. (http://on.wsj.com/1GmgS9w)
FT
The European Commission has asked companies for permission to publish the confidential complaints they filed against Google Inc for unfair competition. This move has raised a speculation that a decision on the matter could come as early as mid-April.
European Union antitrust regulators are investigating Apple Inc's deals with record labels and online music streaming services to see if it is blocking rivals' access to its music planned streaming platform.
Utility Eon will pay 7.75 million pounds ($11.49 million) as penalty for overcharging customers and incorrectly imposing exit fees.
Singapore's Temasek is in plans to buy a stake worth 30 million stg in London-based Funding Circle, which is about to raise 50 million stg in new capital.
NYT
* The breakthrough in nuclear talks with Iran on Thursday has the potential to cause a seismic shift in global energy markets over the long term, but energy experts said any appreciable impact on an already glutted global oil market was highly doubtful for at least six months and probably more than a year. (http://nyti.ms/1I9iFRE)
* New developments offer the latest and perhaps clearest sign yet that American tech giants face intensifying scrutiny in Europe that could curb their profits in the region and affect how they operate around the world. (http://nyti.ms/19NxOsR)
* The new Asian Infrastructure Investment Bank attracted 46 founding members, among them 14 advanced economies of the Group of 20, including Brazil, France, Germany and Russia. (http://nyti.ms/19NxVEA)
* The co-pilot at the controls of the Germanwings airliner that crashed into the French Alps last week had been searching the Internet in the days immediately before for information about how to commit suicide and the security measures for cockpit doors, prosecutors said Thursday. (http://nyti.ms/1FokHJY)
* United Technologies Corp is changing the leadership at Sikorsky Aircraft, its helicopter-making subsidiary, less than a month after announcing that it may spin off the unit. United on Thursday appointed Robert Leduc president of Sikorsky, moving his predecessor, Mick Maurer, to the new role of United's senior vice president for strategic projects. (http://nyti.ms/1ChMC9J)
China
CHINA SECURITIES JOURNAL
- The amount of loans for margin and stock trading hit 1.5 trillion yuan ($242.06 billion) on April 1, indicating investors' strong intentions to invest money into the stock market, according to Wind Informational Statistics data.
- China's insurance fund industry is facing unprecedented risks and challenges, said Chen Wenhui, vice president of China Insurance Regulatory Commission.
SECURITIES TIMES
- The minimum sum needed by individual investors to open up accounts to trade commodity options in China's derivatives market is set to be 100,000 yuan, the paper reported, citing unidentifiable sources familiar with the matter.
SHANGHAI SECURITIES NEWS
- China Securities Regulatory Commission and the Ministry of Public Security said in a conference held in Shenzhen that they would strengthen efforts to crack down on insider trading to protect the interests of market investors.
CHINA DAILY
- Sales revenue growth at brick-and-mortar stores slowed to 8.8 percent in 2014 from 11.4 percent in the previous year, illustrating growing pressure from online retailers, the China Chain Store & Franchise Association said.
- China's capital market authorities have expressed concern over a rising number of listed firms that want to change their names and core operations after the country's anti-corruption campaign affected business.
Britain
The Times
E.ON FINED FOR OVERCHARGING AGAIN
Britain's energy regulator has slapped E.ON with a heavy fine for overcharging its customers for the second time. (thetim.es/1GQHq3e)
RICH STRIKE PROLONGS PROMISE OF FALKLANDS
Three London-listed oil explorers said that they had discovered a richer-than-expected reservoir of the black stuff off the coast of the Falklands in a huge early success for their nine-month drilling campaign around the islands in the South Atlantic. (thetim.es/1CgxSrN)
The Guardian
FASHION CHAINS FEEL CHILL FROM WEATHER AND FEWER DISCOUNTS WITH SALES FALL
UK fashion sales recorded their biggest decline in six months during March, hit by chilly weather and fewer discounts. (bit.ly/1Iu5hEl)
THREE BUSINESS LEADERS DISTANCE THEMSELVES FROM PRO-TORY LETTER
Three business leaders have distanced themselves from a letter that warned of the risks of a Labour government following concerns that their views, or those of their companies, had been misrepresented as a political endorsement of the Tories. One of the leaders is the chief executive officer of AstraZeneca Plc . (bit.ly/1F7rQfg)
The Telegraph
FUNDING CIRCLE ATTRACTS NEW INVESTORS AS IT TOPS $1 BLN VALUATION
Funding Circle, the peer-to-peer lender, is on the verge of announcing a series of investment that will value the five-year-old business in the region of $1 billion. (bit.ly/1FnBTiF)
MARKS & SPENCER SHARES HIT SEVEN-YEAR HIGH AS CLOTHING SALES GROW AGAIN
Marks & Spencer Group Plc shares rose to their highest level in seven years after Britain's biggest high street chain said it was finally growing clothing sales again. (bit.ly/1ELJYjQ)
Sky News
PRU BOSS 'IRRITATED' BY LABOUR LETTER ROW
Friends of the Prudential chief executive, Tidjane Thiam, told Sky News that he was "irritated" at suggestions from Labour sources that he was reconsidering his backing for a pro-Conservative letter which appeared in the Daily Telegraph this week. (bit.ly/1ENosLJ)
TORIES WOO NEW BACKERS AS BOOTS BOSS SAYS NO
The Conservatives have embarked on a fresh attempt to court backing from the business community hours after the publication of a letter warning against "a change in (economic) course" pursued by a Labour administration. (bit.ly/1CXUkef)
The Independent
LONDON PROPERTY USED FOR MONEY LAUNDERING: THE CURIOUS CASE OF A DESPOT'S SON
London is famed for providing a safe haven for foreign dissidents and refugees. It is a hard-earned reputation going back to the French revolution and beyond. (ind.pn/19OYRo3)
GOOGLE COULD BE ABOUT TO FACE A BILLION-DOLLAR ACTION FOR BEING ANTI-COMPETITIVE IN EUROPE
The European Commission reportedly preparing an action against Google Inc alleging that it has fallen foul of laws governing competition. (ind.pn/1CXVOVL)
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