Frontrunning: August 23

Tyler Durden's picture
  • Trump Tries to Recharge His Base in Arizona Rally (WSJ)
  • Trump Threatens Government Shutdown Over Border Wall Funding (BBG)
  • Trump defends response to Charlottesville violence (Reuters)
  • Trump Assails Media in Angry Defense of Charlottesville Response (BBG)
  • North Korea presses rocket program, but amid signs of drama easing (Reuters)
  • Military conflict with North Korea can be avoided: Germany's Merkel (Reuters)
  • ECB chief Draghi: QE has made economies more resilient (BBC)
  • Wage Hikes in China Bring Jobs, Factories Back to Japan (BBG)
  • U.S. Navy Relieves Admiral of Command After Collisions (WSJ)
  • U.S. Readies New Steps to Pressure Pakistan (WSJ)
  • Wall Street Banks Warn Downturn Is Coming (BBG)
  • The Case for Buying Venezuelan Bonds (WSJ)
  • Billionaire Trump Donors Miss Post-Election Stock Gains (BBG)
  • Trump hints at pardon for Joe Arpaio (Hill)
  • Saudis Open Iraqi Border and Forge Ties to Counter Iran (WSJ)
  • Pakistan says U.S. must not make it a 'scapegoat' for Afghan failures (Reuters)
  • Saudi Aramco IPO Spurs Rush to Privatize in Middle East (WSJ)
  • Why Energy Traders Got the Eclipse So Wrong (BBG)
  • Wal-Mart and Google Partner to Challenge Amazon (WSJ)
  • True price of an Uber ride in question as investors assess firm's value (Reuters)
  • Big U.S. Banks Could See Profit Jump 20% With Deregulation (BBG)
  • Trains in Vain: Epic CSX Traffic Jam Snarls Deliveries, From Coal to Fries (WSJ)
  • Qatar’s Plucky Plan to Outlast the Saudi Embargo (BBG)

 

Overnight Media Digest

WSJ

- U.S. President Donald Trump, in his first campaign rally after the violence in Charlottesville, Virginia, attacked the news media and his fellow Republicans who were critical of his response to the protest. on.wsj.com/2ipBuej

- Four mutual-fund companies have marked down their investments in Uber Technologies Inc by as much as 15 percent, the first such price cuts that suggest these investors are souring on the ride-hailing giant following a scandal-ridden year. on.wsj.com/2ipppFF

- Chevron Corp Chief Executive John Watson is planning to step down as the energy giant seeks new leadership for a changing oil world, according to people familiar with the matter. on.wsj.com/2ipt9Hj

- Google and Wal-Mart Stores Inc are joining forces in a partnership that includes enabling voice-ordered purchases from the retail giant on Google's virtual assistant, challenging rival Amazon.com Inc's grip on the next wave of e-commerce. on.wsj.com/2iqn0Lh

- The U.S. government is considering restricting trades in Venezuelan debt as it seeks to punish President Nicolas Maduro for undermining the country's democracy, according to people familiar with the matter. on.wsj.com/2ipBQ4s

- LG Electronics Inc said it will spend about $25 million to build a factory for electric car parts in the Detroit suburb of Hazel Park, Michigan, as the company seeks new engines of growth while it reels from losses at its once-lucrative mobile business. on.wsj.com/2io6ZFm

- The U.S. Navy plans to remove the commander of the fleet that has suffered four recent collisions in Asia and the deaths of several sailors, U.S. officials said. on.wsj.com/2ipFZFK

 

FT

Britain will outline its plans on Wednesday to escape the "direct jurisdiction" of the European Court of Justice after Brexit.

Britain posted a budget surplus in July for the first time in 15 years, according to data from the Office for National Statistics on Tuesday.

The United States imposed new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang's weapons programs.

The European Commission has started an in-depth investigation of Bayer AG's planned $66 billion takeover of U.S. seeds group Monsanto Co, saying it was worried about competition in various pesticide and seeds markets

 

NYT

- A Chinese court has ruled that three domestic shoemakers must pay New Balance $1.5 million in damages and legal costs for infringing the American sportswear company's signature slanting "N" logo, in what lawyers said was the largest trademark infringement award ever granted to a foreign business in China. nyti.ms/2vd3jYZ

- European antitrust regulators opened an in-depth investigation on Tuesday into Bayer AG's $56 billion deal for Monsanto Co, a transaction that would create the world's largest integrated pesticides and seeds company. nyti.ms/2g3YOx8

- According to two company officials, Fiat Chrysler Automobiles NV has been in discussions with a number of Chinese companies about potential equity investments or other deals involving its Ram pickup division and the Jeep brand. nyti.ms/2vXdnIr

- Last Wednesday, even as top executives were abandoning President Donald Trump's business advisory councils after his remarks on white supremacist violence in Charlottesville, other industry leaders were busy making their interests known to a business-friendly White House. nyti.ms/2vd9wEv

- Alphabet Inc's Google and Wal-Mart Stores Inc said Google would start offering Walmart products to people who shop on Google Express, the company's online shopping mall. It's the first time the world's biggest retailer has made its products available online in the United States outside of its own website. nyti.ms/2xr5BED

- ESPN has removed an announcer from its broadcast of the University of Virginia's first football game next month because he has the same name as a Confederate general memorialized in statues that are being taken down across the country. nyti.ms/2wCZOig

 

Canada

THE GLOBE AND MAIL

** Toronto-Dominion Bank will begin building out a trading hub in Ireland that could form the core of its contingency plan for London-based staff left in limbo by Britain's looming Brexit. (tgam.ca/2xbKl6J)

** The Liberal government has agreed to hold an emergency parliamentary committee hearing on Canada's ability to defend itself against an attack by North Korea, including whether the government should join the U.S. ballistic missile defence system. (tgam.ca/2xbWskc)

** Canada has asked the U.S. and other top intelligence allies to keep a tight watch on far-right extremists, who are increasingly grabbing international attention with anti-immigration messages and violent attacks, Public Safety Minister Ralph Goodale said. (tgam.ca/2xbS2cT)

NATIONAL POST

** Lisa Raitt, the Conservative Party's deputy leader under Andrew Scheer, says she's been deep in discussions with doctors and small business owners over the government's tax plan, in a bid to contest the proposed tax crackdown on private corporations. (bit.ly/2xbRQKQ)

 

Britain

The Times

- The future of subprime banking group Provident Financial Plc was thrown into doubt after a mammoth profit warning, the resignation of its chief executive, a belated admission that it was being investigated by regulators and the reversal of a promised dividend. bit.ly/2g48sQo

- The Bank of England should shut down its 115 billion pound ($147.43 billion) cheap funding scheme for high-street lenders because it has served its purpose and is now undermining policy, a top economist, Simon Ward, has said. bit.ly/2g3gmtl

- Dalian Wanda Group, China's largest commercial property company has walked away from its 470 million pound acquisition of Nine Elms Square as Beijing clamps down on the wave of cash flooding into overseas property. bit.ly/2g3kzNP

The Guardian

- Airports have joined forces to press the government to urgently strike a post-Brexit deal on flights between the United Kingdom and the European Union, warning that the current uncertainty alone would be enough to see bookings drop by up to 41 percent. bit.ly/2g2BxMf

- Public sector net borrowing last month, excluding the nationalised banks, was in surplus by 184 million pounds, the first surplus in that month since 2002, the Office for National Statistics (ONS) said on Tuesday. City economists had expected the government to record a 1 billion pound deficit. bit.ly/2g2Cd4f

The Telegraph

- Vodafone Group Plc is in talks with BT Group Plc's network subsidiary Openreach about a joint investment in new ultrafast fibre-optic broadband for British cities. bit.ly/2g3RkdG

- Dominic Chappell, who bought BHS for 1 pound, is to be prosecuted by The Pensions Regulator for failing to provide information related to his purchase of the now defunct retailer. bit.ly/2g3R8uY

Sky News

- Lidl has overtaken Waitrose to become Britain's seventh largest supermarket. The German-owned business grew sales by 18.9 percent in the 12 weeks to Aug. 13, taking its market share to 5.2 percent, according to industry data from Kantar Worldpanel. bit.ly/2g2pC12

- BHP Billiton Plc, the world's biggest mining company by stock market value, has said it has decided to offload its U.S. shale oil operations and is "actively" looking at exit options. bit.ly/2g3KaWO

The Independent

- The Cheshire-based firm Innospec Ltd is selling lead fuel additives, banned because of their "catastrophic" effects on human health, to Algeria, the last remaining country in the world where they are still legal. ind.pn/2g3Sl5u

 

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Deep In Vocal Euphoria's picture

The clown boy is going down.

Bill of Rights's picture

As is your mother. Deep in Vocal lol cock swallower.

sudzee's picture

Need to add that the crypto market cap jumped over the 150billion mark. 

Never One Roach's picture

 

Diamond and Silk, two beautiful African-American ladies, tell voters in California’s 43rd District to rip Maxine Waters a new one!

 

https://www.youtube.com/watch?v=n04-HmpUHKo

 

mkhs's picture

Maxine dindu nuffin.  You rascist honky.

847328_3527's picture

 

The Walmart-Goolge vs Amazon competition might get very interting and instructive to watch given that Americans are broke and these giants are fighting for the few discretionary pennies out there.

 

Wal-Mart and Google partner to challenge Amazon

 

https://finance.yahoo.com/news/wal-mart-google-partner-challenge-0609004...

GoldLion's picture

Frontrunning a bunch of fake media. Thanks ZH

pc_babe's picture

TRUMP TRIES TO RECHARGE...

click-bait title ought to read ... MEDIA TRIES TO DEPRESS TRUMP's

Doug Eberhardt's picture

The CNN response after the Trump rally in AZ was pricesless. Just priceless. 

 

Lies or not as I watch for entertainment now (oh, and fodder for my next book, so I have to). 

 

MSNBC same comments on "lies."

 

FOX nothing about any lies. 

 

Personally, since the days of the media mocking Ron Paul and throwing him under the bus and stomping on him as irrelevant, including Fox News, I am please to see the attacks by Trump on the media, calling them out. Even "little George Stephanopoulos" as I remember his interview of Ron Paul as well with his pompous, elitist attitude.

 

It's nice to see the media knocked off their pedestal whether you like Trump and his character/policies or not. He's no Ron Paul when it comes to foreign policy. This is clear. Any comments he makes cheered by Lindsey Graham should be his red flag he made a mistake. 

 

 

dizzyfingers's picture
Trump: You are going in the wrong direction! On Twitter, Ron Paul reacted to President Donald Trump’s speech last night calling for increasing US presence in Afghanistan. Ron Paul on 16 Years of Infamy - LewRockwell LewRockwell.com
Son of Loki's picture

Under Armour plunging again this morning. Broke consumers and a stupid CEO is a bad combo for a retail company. Maybe if Planck apologizes to Trump and the American people he can save his company.