Frontrunning: June 13

Tyler Durden's picture
  • The Snowballing Power of the VIX, Wall Street’s Fear Index (WSJ)
  • Beneath the Uneasy Peace Between Donald Trump and Janet Yellen (WSJ)
  • Senators to Query Sessions on Russia, Comey (BBG)
  • U.S. lawmakers to probe Tillerson on Russia, diplomacy budget cuts (Reuters)
  • Under pressure to soften Brexit, PM May to meet Northern Irish 'kingmakers' (Reuters)
  • Russian Cyber Hacks on U.S. Electoral System Far Wider Than Previously Known (BBG)
  • North Korea 'most urgent' threat to security: Mattis (Reuters)
  • North Korean Drone Spied on U.S. Missile-Defense Site (WSJ)
  • Kremlin says Russia will not heed U.S. calls to free protesters (Reuters)
  • Saudi Arabia Cuts U.S. Oil Exports to Ease Supply Glut (WSJ)
  • Inflation fizzle may once again leave Fed rate path in doubt (Reuters)
  • Inside the Bold Attempt to Reverse a $55 Million Digital Heist (BBG)
  • Soros Protege Makes a $700 Million Gamble (BBG)
  • The Recession Scarred Workers Who Kept Their Jobs, Too (BBG)
  • Deutsche Bank to Offer Ex-Managers Portion of Bonuses (BBG)
  • Comments Welcome at N.Y. Times, With Troll-Blocking Tech Tool (BBG)
  • States Rally to Save Public-Health Program (WSJ)
  • Rural Jails Are Locking Up More and More Americans (BBG)
  • Charting the Lift in U.S. Job Market as Trump Seeks Elevation (BBG)
  • Cook Says Apple Is Focusing on Making an Autonomous Car System (BBG)

 

Overnight Media Digest

WSJ

- General Electric Co Chief Executive Jeff Immelt will step aside this summer, ending a 16-year run atop a conglomerate that he significantly reshaped but whose shares have vastly underperformed the stock market during his tenure. on.wsj.com/2rUIoe4

- NBC anchor Megyn Kelly's plan to air an interview with right-wing provocateur Alex Jones has caused a firestorm to erupt on social media. JPMorgan Chase & Co has asked for its local TV ads and digital ads to be removed from Kelly's show and from all NBC news programming until after the show airs, according to a person familiar with the matter. on.wsj.com/2rUQ288

- J.Crew Group Inc announced a move it hopes will ease its heavy debt load and give it more time to right its business, as the embattled retailer also reported its 11th consecutive quarter of same-store sales declines. on.wsj.com/2rUPu2p

- The fallout from Uber Technologies Inc's monthslong investigation into workplace culture extended into the upper ranks of its leadership, as the company pushed out a top lieutenant of Chief Executive Travis Kalanick and installed a new voting board member with no prior ties to the troubled ride-hailing company. on.wsj.com/2rUUofF

- Facebook Inc is building a feature that would allow users to subscribe to publishers directly from the mobile app, according to people familiar with the matter. The feature, long-requested by publishers, is expected to roll out by the end of 2017, three of the people said. on.wsj.com/2rUJ1nW

 

FT

Brussels chief negotiator Michel Barnier urged Britain to stop wasting time and start Brexit talks "very quickly" or risk crashing out of the European Union in March 2019 without a deal on future relations.

British online grocer Ocado Group Plc plans to raise 350 million pounds ($443.17 million) from issuing bonds and making changes to its credit arrangements to fund expansion of its facilities and develop its automated warehousing technology.

Complaints against payday lenders tripled in the past year as more people fell into debt, the Financial Ombudsman Service said In its annual report.

British business groups, including the CBI, the Institute of Directors, the EEF and Federation of Small Businesses are working together as well as with Greg Clark, the business secretary, with the aim of putting forward a unified list of demands as they spy an opportunity to change UK's Brexit negotiating stance.

 

NYT

- Uber Technologies Inc's senior vice president for business Emil Michael left the company, according to an email sent to Uber employees. His departure followed a series of scandals that have rocked the company this year, forcing its board to call an investigation into Uber's culture and business practices. nyti.ms/2rUDYEe

- Viking Global Investors, one of the larger hedge funds, notified investors on Monday that the firm's chief investment officer, Daniel Sundheim, was leaving and that the firm would begin returning some $8 billion to investors. nyti.ms/2rUWjB7

- The Irish government on Monday announced a price range for Allied Irish Banks Plc that could value the bank as high as $14.9 billion when it goes public this month — seven years after it was nationalized. nyti.ms/2rUOGKN

- Ivanka Trump's fashion brand called off a deal with a major Japanese apparel company after learning that it was backed by the Japanese government, Trump's company said in a letter made public on Monday. nyti.ms/2rUNYNI

 

Canada

** The Trudeau government's decision to greenlight a Chinese takeover of a Canadian high-tech firm that sells satellite-communication systems to the American military jeopardizes U.S. national security, a congressional commission warned on Monday and urged the Pentagon to "immediately review" its dealings with Vancouver-based Norsat International Inc . (tgam.ca/2s5QOxJ)

** Canada's longest-serving Supreme Court chief justice, appointed by prime minister Jean Chretien in 2000, and to the court by prime minister Brian Mulroney in 1989, announced on Monday that she will retire, effective Dec. 15, nine months before she reaches the mandatory retirement age of 75. (tgam.ca/2s5KztV)

** On Monday, representatives of charitable groups and governments gathered at the Rotary convention in Atlanta and pledged an additional $1.2 billion over three years to fund the Global Polio Eradication Initiative. Canada pledged $75 million as world aims to eradicate polio. (tgam.ca/2s5QOxJ)

NATIONAL POST

** The Royal Bank of Canada expects the loonie to fall to $0.714 from about $0.74 by the end of the year as the Bank of Canada's interest rate continues to lag behind that of the U.S. Federal Reserve. (bit.ly/2s5JYbp)

** Jean-Pierre Blais, the chairman of Canada's telecommunications regulator, says he is not reapplying for the role, days before his five-year term comes to a close. (bit.ly/2s5EwW2)

 

Britain

The Times

* Weir Group is paying 89 million pounds ($112.74 million) to increase its exposure to the Asian oil services market in its first acquisition in two years. bit.ly/2s4imnl

* Land Securities Group PLC, Britain's largest listed property company, has changed it name to Landsec. bit.ly/2s43h5e

The Guardian

* The future of Uber Chief Executive Travis Kalanick is hanging in the balance after the embattled cab company's board voted to adopt a portfolio of recommendations to fight sexual harassment in the firm. bit.ly/2rjPWIx

* The number of homes changing hands in London slumped by almost a third year on year in the spring, as changes to stamp duty rates, high prices and Brexit uncertainty slowed the market, according to the latest monthly index from estate agents Your Move. bit.ly/2rk1V9h

The Telegraph

* Vincent De Rivaz, the veteran boss of EDF, will step down from the French energy group at the end of October this year. bit.ly/2rjXYRP

* Jaguar Land Rover has invested $25 million in Lyft, making it the latest car giant to pick a side in the increasingly bitter war between the U.S. taxi-hailing app and its arch-rival Uber. bit.ly/2rk0Yh6

Sky News

* Royal Bank of Scotland is closing on a multibillion-pound settlement with a U.S. regulator over the mis-selling of toxic mortgage bonds - a deal that will remove one of the long-standing obstacles to the Government returning the lender to the private sector, according to Sky News. bit.ly/2rk01Fy

* Qatar Reinsurance Company has teamed up with Centerbridge, a U.S.-based investment firm, to attempt to buy Sabre from BC Partners, the private equity firm which has owned it since 2013, according to Sky News. bit.ly/2rjXmvv

The Independent

* A poll of almost 700 business leaders conducted by the Institute of Directors in the immediate aftermath of last week's general election reveals a dramatic drop in business confidence and major concerns relating to political uncertainty. ind.pn/2rksUBD

* Thousands of UK households face energy bill hikes of almost 200 pounds on average as gas and electricity providers roll customers onto standard variable tariffs. A total of 54 fixed-rate energy deals are set to expire before the end of August, according to research by price comparison site Money Supermarket. ind.pn/2rkeSzP

 

 

 

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lovemesomeZH's picture

EXCLUSIVE: DOJ Brass Says Comey Struck Insider Immunity Deal With Mueller To Avoid Criminal Chargeshttp://truepundit.com/exclusive-doj-brass-says-comey-struck-insider-immu...

Dilluminati's picture

Comments Welcome at N.Y. Times...

Bots talking to Bots.

Mo Bots

Looks like democracy and concensus, need MOARRR Bots

BritBob's picture
  • Kremlin says Russia will not heed U.S. calls to free protesters (Reuters)
  • Russian Cyber Hacks on U.S. Electoral System Far Wider Than Previously Known (BBG)

Ruskies can't be trusted - Russia tells Britain give back Gibraltar & Falklands before telling US what to do.

RUSSIA has told Britain it should "clean its conscience" and give back Gibraltar and the Falkland Islands before it criticises them over their involvement in Ukraine. Moscow's ambassador to the UN, Vitaly Churkin made the shocking remarks when responding to his British counterpart Matthew Rycroft at a UN security council meeting in New York. (Daily Express 4 Feb 2017)

Do the Spanish have a claim to the Rock? Gibraltar - Some Relevant International Law: https://www.academia.edu/10575180/Gibraltar_-_Some_Relevant_Internationa...

Perhaps not.

Funny thing to say when Argentina has never legally owned the Falklands. So how can they 'be returned' ?

Falklands- Never Belonged to Argentina:

https://www.academia.edu/31111843/Falklands_Never_Belonged_to_Argentina

The bad guys ?

Son of Loki's picture

Did someone mention Obama’s “legacy?”

 

43 shot in Chicago, 6 of them fatally, on warmest weekend of the year

 

 

http://www.msn.com/en-us/news/crime/43-shot-in-chicago-6-of-them-fatally...