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Frontrunning: June 16
- Greek PM sticks to hard line as contagion hits euro zone bonds (Reuters)
- Greek Deadlock Has Leader Hoping for Miracle to Avoid Default (BBG)
- Greek Showdown Puts Merkel's Teflon Legacy at Risk (BBG)
- Greek standoff saps Europe, dollar swings ahead of Fed (Reuters)
- Allianz Increased Holdings of Greek Debt as Its Largest Investor (BBG)
- French Bonds Infected as Greek Crisis Swells Euro-Region Spreads (BBG)
- Statoil to cut 1,500 more jobs as savings drive intensifies (FT)
- UnitedHealth, Anthem Seek to Buy Smaller Rivals (WSJ)
- Five Million Reasons Why China Could Go to War (BBG)
- Former CIA Chief Says Government Data Breach Could Help China Recruit Spies (WSJ)
- Organic business must be terrible: Goldman Plans to Offer Consumer Loans Online, Adopting Start-Ups’ Tactics (NYT)
- Pope Backs Climate Change Science, Denounces World Leaders (BBG)
- Al Qaeda deputy leader killed in U.S. bombing in Yemen (Reuters)
- The $50 Billion Question: Can Uber Deliver? (WSJ)
- This Former NFL Player's $8 Billion Mortgage Lender Started With a Google Search (BBG)
- The World Is Facing Its Longest Oil Glut in at Least Three Decades (BBG)
- China says about to finish some land reclamation in South China Sea (Reuters)
- Russian cenbank ready to cut rates if inflation eases - governor (Reuters)
- A New Storm Threatens to Bring Floods Back to Texas (BBG)
Overnight Media Digest
WSJ
* The two biggest U.S. health insurers by revenue, UnitedHealth Group Inc and Anthem Inc, are seeking to buy smaller rivals in a merger scramble aimed at cutting costs as the companies cope with the federal health-care overhaul. (http://on.wsj.com/1ejeSW9)
* Investors are counting on Uber Technologies Inc to upend the delivery business much as it has for taxis, but progress has been slow so far. (http://on.wsj.com/1ejeZAV)
* A computer failure has prevented the U.S. from issuing thousands of temporary and immigrant visas since June 9, leaving agricultural workers stranded in Mexico just as the summer harvest gets under way. (http://on.wsj.com/1ejf47z)
* A federal judge ruled that the U.S. government exceeded its authority in its 2008 rescue of AIG Inc, but the former AIG chief and thousands of shareholders did not win any of the $40 billion in damages they had sought. (http://on.wsj.com/1ejfeff)
* U.S. energy companies are slowing down their natural-gas production growth after years of furious pumping. (http://on.wsj.com/1ejfs6b)
* Goldman Sachs Group Inc, the firm synonymous with Wall Street, is venturing onto Main Street as it plans to attract consumers and small businesses. (http://on.wsj.com/1ejfzi5)
FT
Goldman Sachs has joined a growing number of lenders who have gone online to develop a new line of business providing digital banking services, without the traditional costs involved.
The Scots have called for "serious and substantial" discussions over London handing over more powers to Edinburgh, saying that the current draft legislation under discussion in Westminster is inadequate.
Jaguar Land Rover is using all its off-road capabilities to develop a system of sensors that will give its vehicles the capability to move driverless in adverse weather and environments.
Apple Inc., on a posting on its website, has called out looking for experienced journalists to get on board its new service Apple News, that will deliver personalised content to its readers. Apple News will replace its predecessor Apple's Newsstand.
NYT
* Gap Inc announced on Monday that it planned to close one-fourth of its stores in North America over the next few years, potentially affecting thousands of jobs, as the brand struggles to turn around a business mired in a long sales slump. (http://nyti.ms/1MH7PRy)
* CVS Health Corp will acquire more than 1,600 pharmacies from Target Corp in 47 states and operate them under its brand name within Target stores. (http://nyti.ms/1MHaRoY)
* Goldman Sachs Group is working on a new business plan to start a consumer lending unit that would offer loans online. While the unit is still in the early planning stages, Goldman has ambitious plans to offer loans of a few thousand dollars to ordinary Americans and compete with Main Street banks and other lenders.(http://nyti.ms/1MHb2R2)
* A group of community and labor organizations is accusing Wal-Mart Stores Inc of inappropriately using the nonprofit Walmart Foundation to help reduce local opposition to its expansion efforts in some urban areas like Washington, Boston, Los Angeles and New York. (http://nyti.ms/1GJ5khx)
Canada
THE GLOBE AND MAIL
** Ontario will bring in regulations to govern police carding in a bid to allay criticisms that the controversial practice violates civil liberties and leads to racial profiling, The Globe and Mail has learned. (http://bit.ly/1Bj2krJ)
** Goldcorp Inc has sold its stake in Tahoe Resources Inc for nearly C$1 billion ($810.24 million) as the gold miner beefs up its balance sheet amid weak bullion prices. (http://bit.ly/1Sk5AaI)
** As Canada's big banks become increasingly interested in the way consumers make purchases, they are ramping up their attention to a payment product that shows promising growth: prepaid cards. (http://bit.ly/1FZqeVO)
NATIONAL POST
** The Competition Bureau is intensifying its probe into whether the Canadian subsidiary of Apple Inc has employed unfair anti-competitive clauses in contracts with the large and small Canadian wireless carriers that sell iPhone devices in their retail stores across the country. (http://bit.ly/1BfsX0P)
** With the C$3.36 billion ($2.72 billion) purchase of Germany's Kaufhof chain, Richard Baker, chairman of Hudson's Bay Co, is banking on the notion that real estate is becoming more important to merchants than ever before in the era of blossoming digital retail. (http://bit.ly/1LcKPwD)
** Bombardier Inc's CSeries was a "highlight" at the first day of the Paris Air Show, but the company failed to generate any new orders for the aircraft despite confirming that it is exceeding performance targets. While competitors Airbus Group SE and Boeing Co announced about $33 billion of new orders, Bombardier only managed to eke out a couple of small order conversions. (http://bit.ly/1LcL6zI)
China
CHINA SECURITIES JOURNAL
- China's summer crops are expected to have a good harvest, and might hit a record high, said Han Changfu, China's agriculture minister.
SHANGHAI SECURITIES NEWS
- Provincial governments have approved 766.7 billion yuan ($123.5 billion) in public private partnership (PPP) projects in the last month, according to calculations by Shanghai Securities News. The 321 demonstration projects are primarily in the areas of transport, energy, urban construction, environmental protection, agriculture and water treatment.
CHINA DAILY
- It is time for Chinese nuclear power equipment makers to explore overseas markets, and demonstrations of domestic equipment is needed to boost exports, Premier Li Keqiang said at a visit to China Nuclear Power Engineering Co Ltd in Beijing on Monday.
Britain
The Times
Greece is heading for a "state of emergency" and exit from the euro after negotiations to prevent the country defaulting on international debts broke down amid acrimony last night, said Günther Oettinger, Germany's commissioner. (http://thetim.es/1GoHN3U)
Thomas Cook Group Plc, the UK-based travel company, has launched a joint venture with Chinese company Fosun International Ltd to take its package holidays to China. (http://thetim.es/1FjmrRM)
The Guardian
Leisure industry entrepreneur Luke Johnson is investing 1.5 million stg ($2.34 million) in Eclectic Bar Group Plc and has taken over as executive chairman of the struggling chain aimed at wealthier students. The deal, which needs approval by shareholders next month, will give him an 18.5 percent stake.(http://bit.ly/1LbEAZW)
U.S. gun maker Colt Group SA has filed for bankruptcy protection, the company announced on Sunday. The company is hoping for an accelerated sale of its operations in the United States and Canada.(http://bit.ly/1dGWwND)
The Telegraph
Aviva Plc, the insurance group, is closing its offices in Salisbury, Stretford and Salford and slimming down at other sites as it attempts to cut 225 million stg ($350.71 million) from its yearly costs following the merger with Friends Life. (http://bit.ly/1C9yVLF)
Aberdeen Asset Management Plc has agreed to raise 100 million stg ($155.87 million)by issuing preference shares to Japan's Mitsubishi UFJ Trust and Banking Corporation. (http://bit.ly/1LcKKpv)
Sky News
The chairmen of Barclays Plc and Prudential are to take the helm at lobbying group TheCityUK, as the financial services sector braces for a referendum on the UK's European Union membership, according to Sky News. (http://bit.ly/1IG7pdr)
The Jamaican government has contacted HSBC Holdings to pitch the island-state as a potential destination, as the lender decides whether to move its head office away from the United Kingdom, according to Sky News. (http://bit.ly/1GoKvXb)
The Independent
Nationwide Building Society's banking customers took to Twitter on Monday morning to report that their current accounts have "vanished" and they had been unable to log on to online banking. Problems seem to have been caused after a planned upgrade on Sunday. (http://ind.pn/1cXkvri)
Thousands of working-class people are being denied jobs at top firms, as they effectively need to pass a "poshness test" to join elite employers, according to the official body set up by the government to promote social mobility. (http://ind.pn/1TncL3a)
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The Independent
Nationwide Building Society's banking customers took to Twitter on Monday morning to report that their current accounts have "vanished" and they had been unable to log on to online banking. Problems seem to have been caused after a planned upgrade on Sunday. (http://ind.pn/1cXkvri)
Pre curser!
Trial run
Wait till .GOV snatches pension funds
http://www.msn.com/en-us/money/companies/american-retail-as-we-know-it-i...
R.I.P.
The health put option market is consolidating. What a fraud.
News:
-
Immigration:
- BUCHANAN: Is Third World America Inevitable?
- 10% of Lewiston, Maine now Somali refugees...
- Feds free rapists, child molester and kidnappers...
- More than 100 murders attributed to illegals released...
- NYC Dems seek to boost immigrant voter registration...
- 60% of New Yorkers DO NOT speak English at home...
- Supreme Court says deportation deadlines can be extended...
- Dozen international passengers arriving at LAX treated for mystery illness...
Wealth:
- EU preparing for 'state of emergency'...
- BOOM: 5,000 Households Worth More Than $100 Million...
- RECORD: Townhouse becomes NYC most expensive listing in history...
- Wealthy shoppers don't want flashy logos anymore...
- Number of millionaires spike around globe...
- Prince puts on show at White House...
- Concert for 500 was 'private'...
- BARCLAYS robot to do your banking...
- MYSTERY: Treasury Says Debt Frozen at $18,112,975,000,000 -- FOR 90 DAYS STRAIGHT...
- Hillary, Obama Mocked by Flashing Traffic Sign in LA... - - STUDY: Teenagers Losing Confidence in American Dream...
- Scientists plan real life genetically modifying animals for military use...
- Navy to accelerate artificial intelligence for warfighting...
- Computer Outperforms Humans on IQ Test...
- Hillary holds back Bengazi Emails
- Hillary holds back Health Records
TAP, TTIP, TISA, TAA, TPA:
- UPDATE: Obamatrade in critical condition...
- Boehner gets more time...
- Rand hits Ryan over stealth tax hike...
- GOP Leadership’s Latest Obamatrade Ploy Revealed: Small Business Tax Hike That Violates GOP’s Anti-Tax Pledge
- 'Gonna pass'...
http://www.breitbart.com/big-government/2015/06/14/gop-leaderships-lates...
- Small Businesses being dominated by Large and Older Businesses, Younger Businesses close down at high rate today, Business Dynamism is trending down, Fewer Banks, Deaths Cross: Less businesses opening than Closing
- Core of America is Small Businesses, The Support for Large Corporations and Large Corporate Jobs at all costs is a Myth or a False Meme, Counter-Intelligence Operation put out by Large Corporate Lobbyists
USG Must Simplify, Streamline, and Standardize in series of Reforms if Freedom, Liberty, Equality, and Justice are to Prevail,... if the idea of America is to continue at all,... Banking, Finance, taxes, regulations, Trade Deals, Treaties... we must protect small businesses and US Industries and Jobs by ending Globalization and the Greed that is prevalent all over the USA.