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Frontrunning: April 29
- Police enforce curfew in Baltimore, disperse protesters (Reuters)
- Saudi king resets succession to cope with turbulent times (Reuters)
- Euro-Area Bank Lending Increases for First Time Since 2012 (BBG)
- Riksbank Increases Bond Purchases as Key Rate Left Unchanged (BBG)
- Greek Banks Get More Funds as ECB Weighs Collateral Discount (BBG)
- Greek bank deposits drop 1.36 pct in March for sixth month in a row (Reuters)
- Sarao Remains in Jail After Failing to Pay Bail at Hearing (BBG)
- Barclays Boosts Expected Bill for Foreign-Exchange Fines to More Than $3 Billion (WSJ)
- Thailand Unexpectedly Cuts Rate After Growth Forecast Cut (BBG)
- Berlusconi to meet Thai businessman over Milan stake sale (Reuters)
- European Bond Rally Set to Stall (WSJ)
- Indonesia executes drug convicts, sparks anger from Australia, Brazil (Reuters)
- Fewer Parents Are Saving for College (WSJ)
- Europe Unseats U.S. as Best Place to Invest in Bloomberg Poll (BBG)
Overnight Media Digest
WSJ
* Saudi Arabia said Wednesday that King Salman bin Abdulaziz had replaced his crown prince and foreign minister, in a dramatic shuffling of his top officials. (http://on.wsj.com/1bSejRZ)
* Twitter got a taste of its own broadcasting power today when Selerity, a New Jersey firm that crawls the Web for financial data, found and shared its earnings on the social-media service nearly an hour before its intended release.(http://on.wsj.com/1bSeixp)
* The Indonesian government executed eight people - seven of them foreigners - for their roles in drug crimes, after 11th-hour appeals for clemency by families, heads of state, and international organizations failed to sway President Joko Widodo.(http://on.wsj.com/1bSgzbU)
* The Securities and Exchange Commission is set to propose long-awaited rules that would force thousands of companies to tell investors how the pay of top management tracked the firm's financial results. (http://on.wsj.com/1bSeuN5)
* Fewer than half of American parents with children under age 18 are saving for college this year, and the average balance in savers' accounts for college has declined, according to a study by lender Sallie Mae and researcher Ipsos Public Affairs.(http://on.wsj.com/1bShyIT)
NYT
* AOL Inc and NBC Universal will share content and develop programming together as part of a licensing and distribution agreement that the two companies announced on Tuesday. (http://nyti.ms/1zbRD97)
* Takeda Pharmaceutical Co Ltd has agreed to pay $2.4 billion to settle thousands of lawsuits from patients and their family members who said that the company's diabetes drug Actos caused bladder cancer, it announced on Tuesday. (http://nyti.ms/1DzRd7Y)
* U.S. agriculture officials say it is "highly probable" that the virulent avian flu viruses that have hit U.S. poultry operations hard in recent weeks will return next fall when wild bird populations migrate south, potentially spreading the viruses into new regions of the country. (http://nyti.ms/1FwcTaV)
* Tyson Foods Inc, one of the country's largest meat producers, said on Tuesday that it planned to eliminate the use of human antibiotics in its chicken production by 2017. The company had been working toward that goal for some time, ceasing the use of antibiotics in its hatcheries last year and adopting feed free of antibiotics this year. (http://nyti.ms/1EmextJ)
Hong Kong
SOUTH CHINA MORNING POST
- Cathay Pacific's biggest cabin crew union is threatening to follow the airline's pilots in taking industrial action over pay and working conditions. The Cathay Pacific Airways Flight Attendants Union is demanding talks with management over what it says are unfair changes to staff contracts and is warning of a summer showdown unless bosses relent. (bit.ly/1Dzl40k)
- Fewer than half of respondents interviewed by three universities support the government proposal for the 2017 chief executive election. The latest poll, commissioned by Now TV and conducted by the three institutions, found that 47 percent support the government proposal, while 38 percent oppose it. The remaining said they were undecided. (bit.ly/1EBhR5F)
- California's Long Beach Transit will buy up to 60 electric buses this year from China's BYD, the company's biggest overseas order to date. BYD, partly owned by Warren Buffett's Berkshire Hathaway, won the bid at a public hearing in Los Angeles on Monday, according to Sherry Li, marketing director of BYD's overseas group. (bit.ly/1JzcE19)
THE STANDARD
- Eight Hongkongers remain missing four days after the Nepal earthquake, with another one has been confirmed dead and 33 others safe. The overall death toll in the quake rose above 5,100. (bit.ly/1OBFhyq)
- Drinking bottled water is more prevalent among men, youngsters and the more educated, a survey found. The study by the Civic Exchange think-tank found that those drinking bottled water were not likely to switch to tap water. It estimated that 1,826 tonnes of plastic waste is generated every day in the city. (bit.ly/1JzdT0u)
- The Travel Industry Council estimates that the number of mainland tours to Hong Kong for the Labor Day holiday will drop by 10 percent year on year. The Retail Management Association expects retail sales during the holiday will post a single-digit decline for the second year in a row. (bit.ly/1bBzUwZ)
HONG KONG ECONOMIC JOURNAL
- Huatai Securities is set to raise up to $5 billion in its public offering of H-shares in Hong Kong, surpassing GF Securities to become the city's biggest IPO in terms of funds to be raised by a Chinese enterprise in the city, according to market sources.
Britain
The Times
* Sainsbury's chief caught up in Egypt court drama
Mike Coupe, the chief executive of J Sainsbury, was forced to fly to Giza on Sunday to appeal against his conviction last September. (http://thetim.es/1HPiauF)
* UK economy slows sharply ahead of election
Britain started the year with the weakest economic growth since the country faced risks of a triple-dip recession, dealing the Conservatives a damaging blow just nine days before the general election. (http://thetim.es/1Gu1V1L)
The Guardian
* Greek finance minister denies being sidelined from debt talks
The Greek finance minister has denied that he has been sidelined from talks with Greece's creditors as he resumed outspoken attacks on the country's eurozone partners. (http://bit.ly/1bQKAsB)
* Alliance Trust strikes deal with Elliott Advisors
Alliance Trust, one of the UK's oldest investment firms, has reached an 11th-hour compromise with its rebel investor Elliott Advisors, which had been pushing for change at the company. (http://bit.ly/1zlW1my)
The Telegraph
* Gatwick oil project suspended amid permit confusion
Drilling for oil at Horse Hill near Gatwick will not be allowed to proceed because its backers, including entrepreneur David Lenigas, do not have the necessary approvals from government agencies. (http://bit.ly/1HPjeP6)
* Louis Vuitton's chequered pattern under threat from EU
Louis Vuitton's signature chequered squares are not distinctive enough to deserve a trademark, a European Court has ruled, following a challenge from German retailer Nanu-Nana. The European General Court has cancelled two community trademarks registered by Louis Vuitton for its leather products. (http://bit.ly/1AdoV2T)
Sky News
* BP profits fall 39 pct on oil price collapse
BP Plc has confirmed a drop of almost 40 percent in first quarter profits, blaming oil price weakness and its actions to address the issue. The company said its replacement cost profit in the first quarter came in at $2.1 billion - a decline of 39 percent over the same period a year ago. (http://bit.ly/1Krx21V)
The Independent
* Struggling Morrisons pays out 3 mln pounds to sacked boss Dalton Philips - with more to come
Dalton Philips, the former Morrisons boss, has walked away from the supermarket with nearly 3 million pounds ($4.60 million) and could get a further 1.6 million pounds in payouts over the next two years, despite presiding over a collapse in the company's profits. (http://ind.pn/1Ii2gJG)
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sarao is going to learn the hard way that his name isn't corzine and he ain't citadel. it is good to be golden, and untouchable. he is neither.
http://www.kirotv.com/news/news/national/bumble-bee-charged-death-man-co...