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Frontrunning: October 8
- Congress probing U.S. spy agencies' possible lapses on Russia (Reuters)
- Defense Ministers From NATO Hit Out at Russian Action in Syria (WSJ)
- U.S. Rules Out Cooperation With Russia as Moscow Launches First Naval Strikes on Syria (WSJ)
- Man Who Called China's Boom and Bust Says Use This Rally to Sell (BBG)
- For Volkswagen, New Questions Arise on U.S. Injury Reporting (BBG)
- Deutsche Bank May Swell $14 Billion Selloff in China Bank Stakes (BBG)
- Emerging market slowdown hits German exports (FT)
- Dell Is in Talks With EMC Over Possible Merger (WSJ)
- House Republican Group Backs Longshot Webster for Speaker (BBG)
- Syria extends major offensive to retake territory in west (Reuters)
- BOE Signals Rate Can Stay Low as Inflation Weakness Persists (BBG)
- Iran's supreme leader bans negotiations with the United States (Reuters)
- Blatter, Platini Suspended for 90 Days by FIFA Ethics Panel (BBG)
- Harvard, Goldman Sachs, Venture Capital…Fugitive (WSJ)
- Qatar's Wealth Fund Said Interested in Glencore Agriculture Sale (BBG)
- Blackstone to Buy BioMed Realty Trust in $8 Billion Transaction (BBG)
- Conditions Sour for California’s Dairy Farmers (WSJ)
Overnight Media Digest
WSJ
- Dell Inc and private-equity firm Silver Lake are in advanced talks to buy EMC Corp, a deal that would rank as the biggest technology-industry takeover ever and remove questions about EMC that have hung over the data-storage giant for more than a year. (http://on.wsj.com/1Pjgduj)
- The United Auto Workers reached a new tentative contract agreement with Fiat Chrysler Automobiles NV , averting a strike that would have idled some, if not all, of the auto maker's U.S. plants. (http://on.wsj.com/1WOsTM9)
- The United States ruled out strategic collaboration with Moscow in the Middle East and said Russia has built up a ground force inside Syria with heavy weaponry that could support a Syrian army offensive. (http://on.wsj.com/1R0tyWN)
- SABMiller rejected a takeover proposal from Anheuser-Busch InBev that valued it as high as $103.88 billion, the latest salvo in what is quickly becoming a tense negotiation between the world's No. 1 and No. 2 brewers. (http://on.wsj.com/1KZbGKA)
- In a sharp break with the Obama administration's position, Democratic presidential candidate Hillary Clinton came out against a major trade agreement reached earlier in the week by the United States and 11 other Pacific nations. (http://on.wsj.com/1FU1dRS)
FT
Germany's Volkswagen AG U.S. chief Michael Horn knew about the emissions problem for more than 18 months, before the company came out in the open about the issue. The admission will raise questions over the delay in reporting the issue to the regulators.
Private equity group Carlyle Group LP and Banque Pictet are coming together to form Athen Art Finance, a venture aimed at providing loans to art collectors, in an effort to shake up economics of the art market. The venture will have $280 million in equity capital.
Germany's Deutsche Bank AG, in a late night statement on Wednesday, said it may not pay any dividend this year owing to a loss of 7.6 billion euros ($8.54 billion) in the third quarter.
Dell Inc and EMC Corp and are in talks over a merger, people familiar with the matter told FT. It is not fully known whether the hardware maker and the data storage company are exploring a full merger or parts of their businesses.
NYT
Wednesday, potentially uniting two stalwarts of the technology industry as each faces pressure to revive its business prospects. (http://nyti.ms/1Gx9qWV)
- Anheuser-Busch said it had offered to pay about $104 billion to acquire its rival, but SABMiller said the new approach still undervalued the company.(http://nyti.ms/1PjqmXW)
- Contract talks continued on Wednesday at Fiat Chrysler Automobiles , as tens of thousands of workers prepared for a possible strike if an agreement was not reached by a late-night deadline set by the United Automobile Workers union. (http://nyti.ms/1Lj7mah)
- Security experts were still looking through the systems of LoopPay - a Samsung Electronics Co Ltd subsidiary that was the target of a sophisticated attack by a group of Chinese hackers - but said there was no indication that the South Korean electronics giant's systems had been infiltrated.(http://nyti.ms/1Q9jpaa)
- The head of Volkswagen's American business knew about a potential emissions problem with the company's vehicles in spring 2014, earlier than previously acknowledged by top management in the United States.(http://nyti.ms/1VFTecP)
- The New York Times Co released a strategy memo to its staff on Wednesday outlining an ambitious plan to double digital revenue to $800 million in 2020 from $400 million in 2014, in part through a focus on increasing subscriptions and engagement with its most loyal readers. (http://nyti.ms/1Onai8l)
Britain
The Times
- Anheuser-Busch InBev SA's dream of creating "the first truly global beer company" suffered a setback yesterday when SABMiller Plc's second-biggest shareholder rejected a 65 billion pound ($100 billion) takeover bid by the Budweiser brewer. (http://thetim.es/1VEQNMR)
The Guardian
- The boss of communications watchdog Ofcom has given a strong hint that she is against the proposed merger between mobile operator O2 and rival Three because it could lead to higher prices and poorer service. If the $10.2 billion deal goes through, it would make the combined entity the United Kingdom's largest mobile group, with a 40 percent market share, and would reduce the number of mobile operators from four to three. (http://bit.ly/1OYujCd)
- Waterstones is to stop selling the Kindle e-reader in most of its stores in what industry bosses have said could become a watershed moment in the battle between physical and digital books. James Daunt, the managing director of Waterstones, has removed Kindles from most of the books chain's 280 stores because they were "getting virtually no sales". (http://bit.ly/1N0DP4F)
The Telegraph
- Box Inc, one of Silicon Valley's leading cloud computing providers, is planning to set up European data centres within a year, following a court ruling that struck a heavy blow to a key transatlantic privacy agreement. (http://bit.ly/1LlXh8h)
- Aston Martin has announced a restructuring that is likely to see jobs go at the luxury sports car maker. A spokesman for the business, which found fame as James Bond's car maker of choice, confirmed that job losses among the 2,100 staff were likely. (http://bit.ly/1OmSz0Q)
Sky News
- A far-reaching probe into Britain's executive pay culture could be threatened by the ousting of its architect as the boss of the fund management industry's trade body. Sky News has learnt that the Investment Association is likely to reconsider a decision to undertake the inquiry, which was launched last month by Daniel Godfrey, who stepped down on Wednesday as the organisation's chief executive. (http://bit.ly/1MfCMPG)
The Independent
- Volkswagen AG said that it will start a recall of diesel cars carrying the controversial defeat devices will start as early as January. The car manufacturer said the fix could be as simple as changing the software in affected cars - which are still deemed roadworthy - and that all cars should be fixed by the end of 2016. (http://ind.pn/1jNvIPp)
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Obama will not finish his second term! Banned independent documentary reveals the truth. This will scare millions! Current Events Linked to Ancient Biblical Prophecy!
http://motivationdose.com/is-america-babylon/
The Bible says Babylon will be universally mourned. Only a USAmerican could believe the U.S. would be mourned. The rest of the world hates you guys and would cheer loudly at your destruction.
Congress probing U.S. spy agencies' possible lapses on Russia
Look no further than Hillary's server.
IMF can now say, well we did warn you, don't blame us..scary stuff from a CB.
"Policy missteps and adverse shocks could result in prolonged global market turmoil that would ultimately stall the economic recovery," said Jose Viñals, financial counsellor at the IMF.
The world's major central banks should ensure policy remains "accommodative" for fear of setting off a new wave of instability that would see bond prices rise and asset prices collapse, said the IMF.
"Risk premia could decompress in a disorderly way causing a vicious cycle of firesales, redemptions, and more volatility," said Mr Viñals.
The report called on the Federal Reserve to hold off on its first interest rate hike in nine years and for the authorities in the eurozone and Japan to continue with unprecedented stimulus measures.
"Managing any outbreaks in financial contagion will require nimble and judicious use of available policy buffers," added the report.
The IMF painted a picture of a brittle financial system that was coming to the end of a period of cheap liquidity propped up by low rates."
LoL @ anti Russian propaganda, cry like little babies you fucking butthurt pindos.
https://www.youtube.com/watch?v=AOAtz8xWM0w
http://www.urbandictionary.com/define.php?term=pindo
Better Red than dead, eh?
http://www.bizjournals.com/houston/news/2015/10/05/at-t-to-cut-200-houst...
Moar Hope and Change comes to Houston.
How can anyone say we didn't know Russia's intentions - just watch the MSM and listen to politicians across the globe - who daily warn us that Putin wants to hide in our closets with an axe and murder us while we sleep. Indeed, we have the NATO commander threatening to send ground troops to Turkey to defend it against a Russian invasion. And McCain is always good for a new Russian threat every day. The only problem is that nearly all of these guesses are WRONG!
http://www.sovereignman.com/trends/the-us-government-just-crossed-the-rubicon-17506/ The US government just crossed the Rubicon