This page has been archived and commenting is disabled.
Frontrunning: June 18
- WSJ urges Fed to blow uberest of all bubbles: Memo to Fed: Let the Economy Overheat (WSJ)
- Gunman at large after killing nine at black South Carolina church (Reuters)
- Nine Dead in Charleston Shooting Labeled a 'Hate Crime' (BBG)
- Hong Kong Votes Down Beijing-Backed Election Plan (WSJ)
- Greece Has Already Cost Investors $897 Billion This Year (BBG)
- Merkel Maintains Tough Stance on Greece as Deadline Looms (WSJ)
- Small U.S. frackers face extinction amid drilling drought (Reuters)
- Brian Williams to Stay at NBC, but Lester Holt Will Be Anchor (WSJ)
- The 300% Instant Gains on China IPOs Are Suddenly Vanishing (BBG)
- Oil prices rise on weak dollar, hopes of Greek deal (Reuters)
- Move over, Hamilton! Treasury to put woman on $10 bill (USAToday)
- FIFA, Iran Top To-Do List for Yoga-Loving Swiss Prosecutor (BBG)
- Jimmy Lee, Investment Banking Force, Dies at 62 (NYT)
- European Disunion: For Two Rivals in Greek Crisis, It’s Personal (BBG)
- This ‘Barbarian’ Banker Has Turned Into a Friendly Activist (BBG)
- Top two FIFA officials hire lawyers as Swiss probe bank transactions (Reuters)
Overnight Media Digest
WSJ
* Brian Williams will stay with NBC in an undisclosed role and Comcast Corp is expected to make Lester Holt permanent anchor of "Nightly News."(http://on.wsj.com/1TvTdKh)
* The Federal Communications Commission plans to fine AT&T Inc $100 million for allegedly deceiving consumers about unlimited wireless data plans, the agency said. (http://on.wsj.com/1TvTFIp)
* The head of Fox News, Roger Ailes, has enjoyed considerable autonomy while reporting to Rupert Murdoch. Under a new leadership structure at 21st Century Fox, he will report to Rupert Murdoch's sons.(http://on.wsj.com/1TvTOLW)
* A ruling by the California Labor Commission says an Uber driver was an employee of the company, not a contractor. The decision marks the latest setback for the ride-hailing company's labor model.(http://on.wsj.com/1TvTTz7)
* The Treasury Department announced Wednesday it will replace the main image of its own founder, Alexander Hamilton, on the $10 bill, with a woman as yet to be determined. Hamilton will remain on the bill in a diminished way.(http://on.wsj.com/1TvIrn6)
FT
Ride hailing service Uber suffered a setback in its home state of California, when a judge ruled that a driver signed up with its service should be deemed a company employee and not a contractor, in a move that could disrupt the service's entire business model.
Wearable tech maker Fitbit raised $732 million selling shares in an IPO that valued the company at $4.1 billion.
In the most significant management shake-up since Satya Nadella assumed the top job at Microsoft, former Nokia CEO Stephen Elop, along with a few close associates of Steve Ballmer and Bill Gates, will leave the company.
French bank Credit Agricole said it and Societe Generale had decided to sell shares of their Amundi asset management joint venture in an initial public offering on the Paris stock exchange by the end of the year.
NYT
* NBC is expected to announce that Brian Williams will move to a new role primarily at MSNBC, four months after the network suspended him for exaggerating his experiences during a helicopter attack in Iraq, according to two people briefed on the decision. (http://nyti.ms/1LjPnhH)
* JPMorgan Chase & Co, Wells Fargo & Co and four other large banks have failed to make long-promised improvements to their mortgage operations, a federal regulator said on Wednesday. (http://nyti.ms/1LjPtFR)
* Airbnb, which lets users list their homes and apartments for short-term rentals, is in talks to raise $1 billion in venture capital which would value the company at $24 billion, according to a person close to the discussions. (http://nyti.ms/1LjQ1eV)
* The Federal Communications Commission on Wednesday said it planned to fine AT&T Mobility $100 million, accusing the company of misleading millions of wireless customers with unlimited data plans by slowing down their service without adequately informing them. (http://nyti.ms/1LjQca6)
* The Federal Reserve indicated on Wednesday, following a meeting of its policy committee, that it plans to raise interest rates even more slowly than its officials had previously predicted. (http://nyti.ms/1LjQk9J)
* Jimmy Lee, a pioneering deal maker and a vice chairman of JPMorgan Chase & Co, died on Wednesday. He was 62.(http://nyti.ms/1LjQuxN)
Canada
THE GLOBE AND MAIL
** Controversial Conservative senator Don Meredith was expelled from his party's caucus, following allegations in a published report that he had a sexual relationship with a 16-year-old girl. (http://bit.ly/1Rb69B8)
** McGill University's medical school in Montreal has been put on probation for failings in several areas, dealing a blow to one of Canada's most prestigious educational faculties. (http://bit.ly/1H0HhN7)
** The British Columbia government has conditionally approved a liquefied natural gas project led by Royal Dutch Shell Plc. Environment Minister Mary Polak and Natural Gas Development Minister Rich Coleman attached 24 conditions in issuing an environmental assessment certificate for the Shell-led LNG Canada joint venture in Kitimat in northwestern British Columbia. (http://bit.ly/1JWonHD)
NATIONAL POST
** Canada's investment industry association is urging regulators to back off shaky global credit markets. Canada is moving in lockstep with European and U.S. regulators to overhaul the financial system, and the latest measures are aimed at increasing transparency and consumer protection in credit markets. (http://bit.ly/1J5DDBS)
** Calfrac Well Services Ltd, one of Canada's largest hydraulic fracturing companies, chopped its dividend in half on Wednesday as a collapse in oil prices resulted in a dramatic drop in demand for oilfield services. (http://bit.ly/1Lh35F9)
** The federal government touted a number of initiatives on Wednesday for improving First Nations' well-being but could not explain why a new report showed the prosperity gap between aboriginal and non-aboriginal people was widening in some cases. (http://bit.ly/1MNXMdv)
China
SHANGHAI SECURITIES NEWS
- China's free trade zone agreement with Australia, formally signed on Wednesday, could see local exporters benefiting from around $1.6 billion worth of customs duty savings, the official paper said.
- China will launch a series of new indexes on July 13, including ones relating to cement, non-ferrous metals and livestock, according to the Shanghai stock exchange and the China Securities Index.
CHINA DAILY
- China has approved a new set of guidelines that require all civilian shipbuilders to ensure new vessels which would be suitable for military use in emergency situations, helping enhance the nation's maritime military strength, the China Classification Society said.
- Japanese firms are set to cut investment in China this year due to the country's weakening economic outlook, an official at the Japan External Trade Organization said on Wednesday. Japan pumped $4.3 billion into China last year.
SHANGHAI DAILY
- Storms and heavy rainfall in China's business capital Shanghai has grounded hundreds of flights and led to flooding of thousands of homes in the city, local authorities said.
21st CENTURY BUSINESS HERALD
- Fast-growing phone maker Xiaomi Technology Co Ltd has invested $50 million to set up a micro-credit company based in the southern metropolis of Chongqing, the newspaper said.
Britain
The Times
Pay growth in Britain for the first part of the year defied expectations, climbing to 2.7 percent, the Office for National Statistics said yesterday. This has resulted in pay packets increasing at the highest rate since 2007. (http://thetim.es/1N47sBw)
Paul Drechsler, recently appointed chairman of the privately owned Bibby Line Group, was named yesterday as the new face of British business after the preferred candidate for the presidency of the Confederation of British Industry dropped out. (http://thetim.es/1BjRgLc)
The Guardian
Upmarket grocer Waitrose has launched a new salvo in the UK's supermarket price war by giving loyalty card shoppers 20 percent off their 10 favourite items on every shop. (http://bit.ly/1L0FhUV)
BT Group set out to convince regulators to pass its 12.5 billion pounds ($19.80 billion) merger with mobile operator EE on Wednesday, claiming the deal will create a digital champion for the UK. (http://bit.ly/1dL6cXz)
The Telegraph
BP is squeezing its contractors and suppliers in the North Sea as it strives to drive down costs amid weaker oil prices. The oil giant is re-negotiating contracts and also cutting the day-rate it pays contractors and the number of suppliers it uses offshore of Aberdeen. (http://bit.ly/1eoH9KO)
The Greek government has admitted it will become the first developed country in history to default on the International Monetary Fund (IMF) if its creditor powers fail to strike a deal with the leftist government over its eurozone future in the coming days. (http://bit.ly/1d2o9jA)
Sky News
Guardian Media Group will on Thursday appoint David Pemsel as its next chief executive. The owner of The Guardian newspaper is to opt for continuity with the selection of its next chief executive as Andrew Miller prepares to step down after five years at the helm. (http://bit.ly/1RaDpII)
The Royal Bank of Scotland has vowed that all payments will be processed by the weekend after a technical glitch meant some had gone "missing." The managing director of RBS apologised for the glitch and said all affected balances will be up to date by Saturday. (http://bit.ly/1RaDyfl)
The Independent
UK unemployment fell 43,000 people from February to April, according to figures released today by the Office of National Statistics. The percentage of the UK labour force that is willing but unable to work is now 5.5 percent, lower than the previous three month to January (5.7 percent) and lower than a year earlier (6.6 percent). (http://ind.pn/1JVrVdf)
»
- 3165 reads
- Printer-friendly version
- Send to friend
- advertisements -
"WSJ urges Fed to blow uberest of all bubbles: Memo to Fed: Let the Economy Overheat (WSJ)"
Sure. Why not. What's the worst that could happen?
I'm glad they're sending Brian Williams to MSNBC. All 12 of their viewers will probably enjoy him immensely. And I won't ever have to see him again. Fucking scumbag.
Goes to show NBC knows full well MSNBC is a bullshit brainless channel for "journalism" wackos and re-treads
Ole tail gunner on the space shuttle will be happy over at nsabc
Hing Kong rejects Beijing backed plan ? lol . They are part of same club . Even Taiwan KMT govt will not do that m
News:
- Counter-Intelligence Operations continue against USA for TPP, TISA, TTIP, TAA, TPA Trade Deals
- Obamatrade resurrected by Republicans...
- Could encompass up to 90% of world GDP...
- SESSIONS: 'Members did not know that when they voted'...
- REP: DRUDGE TO BLAME FOR DELAY...
- SCHLAFLY: Creates 'global governance superstructure'...
- House Conservatives Put Boehner on Notice...
- Ryan talking point debunked -- by Australian Trade Minister...
- TPP Vote today in Congress
- Final Phase of US Colonialism by the Wealthy, and same people that control the FED & Wall Street
- First Day of Holy Month of Ramadan, please take the time to contact your Government Reps about TPP