Frontrunning: September 26

Tyler Durden's picture
  • Demise of Obamacare Repeal Shows How Far GOP Remains From Goal (BBG)
  • Republican’s Latest Tax Plan Has Little Room to Maneuver (WSJ)
  • Mexico in three-day countdown to search for earthquake survivors (Reuters)
  • Oil near 26-month high as Turkey threatens to choke Kurdish exports (Reuters)
  • North Korea bolsters defenses after flight by U.S. bombers as rhetoric escalates (Reuters)
  • U.S. to Curb Russian Military Flights Over America (WSJ)
  • U.S. Commerce Secretary Ross tells China to guarantee fair treatment for U.S. firms (Reuters)
  • Novogratz Says Bitcoin Is a Bubble, But You Should Own It (BBG)
  • Citi Says Get Ready for an Oil Squeeze (BBG)
  • Alibaba takes control of logistics business, pledges $15 billion to expand network (Reuters)
  • This Is Chaos’: Sweltering Puerto Rico on Day 6 Without Power (BBG)
  • Nestlé Cedes Ground to Loeb but Won’t Budge on L’Oreal (WSJ)
  • Western Digital to seek injunction to block Toshiba's $18 billion chip unit sale (Reuters)
  • Citi Is Bringing Back One of the Most Infamous Bets of the Credit Crisis (BBG)
  • Nafta Negotiators Turn to Thorny Issue Just as Ministers Arrive (BBG)
  • U.S. companies urge EU to refrain from unilateral moves on Web tax (Reuters)
  • BHP, world's largest miner, says 2017 is 'tipping point' for electric cars (Reuters)
  • Ivanka Trump's China Business Ties Are More Secret Than Ever (BBG)
  • The Oil Ghost Towns of Texas (BBG)
  • Brazil Lets In Big Oil Firms After Keeping Them Out for a Decade (WSJ)
  • Banks Lobbying to Stem MiFID’s Spread Spark a U.S. Client Revolt (BBG)
  • Big Investors Want Directors to Stop Sitting On So Many Boards (WSJ)

Overnight Media Digest

WSJ

- The chairman of the Securities and Exchange Commission, Jay Clayton, is expected to say on Tuesday that his agency may have mishandled a breach of its system for disclosing market-moving news and promise to intensify how it defends itself against hackers. on.wsj.com/2xxjxhL

- Senate Republicans' latest effort to repeal large parts of the Affordable Care Act this year suffered a likely death blow on Monday, when Senator Susan Collins' declared opposition left it without enough votes to pass. on.wsj.com/2fM6TDV

- General Electric Co agreed to sell its industrial-solutions business to Switzerland's ABB Ltd for $2.6 billion, a sign that GE's new chief is moving ahead with efforts to streamline the industrial company. on.wsj.com/2wOkpBi

- U.S. Defense Secretary Jim Mattis arrived in India on Monday on a trip to reinforce a budding U.S.-India defense partnership and to look for ways to work with India to expand ties in Afghanistan and counter Chinese influence in the region. on.wsj.com/2whnype

- Target Corp said it is raising its minimum wage to $11 an hour starting next month and to $15 an hour within three years, as the retailer competes to fill low-wage jobs in a tighter labor market. on.wsj.com/2hq5k1Z

- China is considering relaxing rules requiring foreign auto makers to have a local partner, according to people with knowledge of the situation. on.wsj.com/2fnhdlj

 

FT

The European Union rejected British Prime Minister Theresa May’s demand for fast-tracked talks on a Brexit transition, in the fourth round of discussion in Brussels, with the EU’s Brexit chief negotiator Michel Barnier saying his mandate excluded discussing a transition until “sufficient progress” had been made on citizen rights, Ireland and a financial settlement.

Britain’s opposition Labour Party wants to nationalise private finance initiative contracts as part of plans to roll back private sector involvement in UK public services, John McDonnell, shadow chancellor, announced in a speech on Monday to his party’s annual conference.

Mark Johnson, the former global head of forex cash trading at HSBC Holdings Plc who is on trial in the United States on charges he schemed to front-run a $3.5 billion currency deal, “threw his client under a bus to make more and more money”, prosecutors argued on Monday.

U.S. ride-hailing company Lyft has been working on a plan to expand internationally and is eyeing cities including London, Toronto and Mexico City, according to a person familiar with the internal discussions, at a time its competitor Uber Technologies Inc fights to overturn a planned ban in London.

 

NYT

- Unilever on Monday announced plans to buy Carver Korea, an Asian skin care specialist, for 2.27 billion euros ($2.69 billion). nyti.ms/2xCgBSK

- China has largely blocked messaging app WhatsApp, the latest move by Beijing to step up surveillance ahead of a big Communist Party gathering next month. nyti.ms/2ypohVX

- Swiss engineering firm ABB Ltd said on Monday it would buy General Electric Co's business that provides circuit breakers and other electrical equipment for industry for $2.6 billion. nyti.ms/2xHNeik

- Uber's chief executive, Dara Khosrowshahi, apologized in an open letter on Monday for the company's "mistakes," after the transport authority for London said last week that it would not renew the ride-hailing service's license to operate in the city. nyti.ms/2y4Zdan

- Exxon Mobil Corp announced a program on Monday to reduce emissions of methane, a powerful greenhouse gas, from its oil and natural gas production and pipeline operations across the United States. nyti.ms/2fmxJ4S

 

Canada

THE GLOBE AND MAIL

** Foreign Affairs Minister Chrystia Freeland has vowed in Parliament that Canada will defend its automotive, resource and dairy sectors from any U.S. assault at the NAFTA bargaining table that could cause job losses for Canadian workers. tgam.ca/2hwO4EE

** Alberta's most promising shale prospect could yield billions of barrels of crude, a new study by the National Energy Board and Alberta's Geological Survey says, a finding that points to a substantial resource beyond the province's downtrodden oil sands industry. tgam.ca/2hvLheR

** Ottawa's proposed tax changes for private corporations have created a rift in Canada's legal community and are refueling a debate over whether lawyers are public servants, based on a professional oath, regardless of what type of law they practice. tgam.ca/2hwzf58

NATIONAL POST

** As Bombardier Inc braces for a preliminary ruling in a countervailing duty investigation that could see nearly 80 percent duties slapped on U.S.-bound C Series jets, the Montreal-based company is facing another — and potentially significant — threat to its transportation business. bit.ly/2hvcBda

** Alibaba Group Holding Ltd founder Jack Ma encouraged Canadian entrepreneurs to consider the possibilities presented by the Chinese market, rather than focusing on the difficulties as he made his pitch for why small businesses should sign on to the e-commerce platform. bit.ly/2hxfhqG

** Ontario's environment ministry investigators probing the international Volkswagen emissions scandal accuse officials with the German automobile company of not fully cooperating in their investigation. bit.ly/2hxg0Iq

 

Britain

The European Union rejected British Prime Minister Theresa May’s demand for fast-tracked talks on a Brexit transition, in the fourth round of discussion in Brussels, with the EU’s Brexit chief negotiator Michel Barnier saying his mandate excluded discussing a transition until “sufficient progress” had been made on citizen rights, Ireland and a financial settlement.

Britain’s opposition Labour Party wants to nationalise private finance initiative contracts as part of plans to roll back private sector involvement in UK public services, John McDonnell, shadow chancellor, announced in a speech on Monday to his party’s annual conference.

Mark Johnson, the former global head of forex cash trading at HSBC Holdings Plc who is on trial in the United States on charges he schemed to front-run a $3.5 billion currency deal, “threw his client under a bus to make more and more money”, prosecutors argued on Monday.

U.S. ride-hailing company Lyft has been working on a plan to expand internationally and is eyeing cities including London, Toronto and Mexico City, according to a person familiar with the internal discussions, at a time its competitor Uber Technologies Inc fights to overturn a planned ban in London.

 

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menchivist's picture

The Shep Wave and Gold man analysts have been calling markets together I think.  But seems like gold man is a little late on the targets

https://www.facebook.com/permalink.php?story_fbid=10155108125820326&id=166578775325

Federalist Papers's picture
Federalist Papers (not verified) menchivist Sep 26, 2017 7:17 AM

Definite connection between Shepwave and Goldman but Shepwave is giving ananlysis to all Goldman keeps the real analysis to give to big clients. 

Ghordius's picture

"The European Union rejected British Prime Minister Theresa May’s demand for fast-tracked talks on a Brexit transition, in the fourth round of discussion in Brussels, with the EU’s Brexit chief negotiator Michel Barnier saying his mandate excluded discussing a transition until “sufficient progress” had been made on citizen rights, Ireland and a financial settlement."

and the biggest stumbling block is still Ireland

kind of: "oh, we see, Madame wishes for a border. fine. where would you like to have that border, Madame?"

Federalist Papers's picture
Federalist Papers (not verified) Sep 26, 2017 7:16 AM

Repubs prove they are inept and could care less here.  Very dissapointed. 

TeethVillage88s's picture

Mcclatchy:

DNI, Dan Coats, says we consider it highest priority to keep breaking constitutional laws by spying on everyone foreever even if it is like communism or Stasi Police...

TeethVillage88s's picture

Today's focus:

1 No high Senate concern about Labor
2 No House concern about Labor
3 Planned Inflation & Fake Economic Stats & Fake Economics
4 Retraining & Relocation Costs in $10,000 of dollars
5 Trade Agreements favor off-shore Labor & Automation & Robots replace workers
6 Globalism replaces socialism, communism, it is the new Fascism/State Capitalism
7 State Capitalism replaces free enterprise/free markets
8 No central bank or treasury, FDIC, FTC, Chamber of Commerce, GAO, OMB, CBO, Trade Reps, Wall Street, Lobbyist concern about Labor
9 Boskin Commission Reforms on CPI
10 Inflation has destroyed Social Contract, Social Security, Medicare/Medicaid & National Security

TeethVillage, Senate Report

Arnold's picture

Do you wear a cloths pin on your nose, Teeth.
I would suggest Hazmat Gear to keep the stench off you.

TeethVillage88s's picture

No. But my advice is to walk around looking at people like they are pure shit at all times. Bad cop routine. Look like you can't stand the stink of them.

overmedicatedundersexed's picture

carlos danger goes to jail, and ZH got nuthin on it?  lap top with the life insurance mega email file nowhere to be found?  NYC detectives lost that thum drive data disk??

still got a candle in the window that Jeff Sessions comes thru..but it is burning so low so low

 

Son of Loki's picture

Best Buy is the latest victim of the retail apocalypse 

http://www.msn.com/en-us/money/companies/best-buy-is-the-latest-victim-of-the-retail-apocalypse-as-pressure-from-amazon-sends-shares-plunging-10percent/ar-AAsnSw8?li=BBnb4R7

 

The article forgets to mention that Obama destroyed America’s middle class consumers.

dizzyfingers's picture

The Best Buy in my town is empty 99% of the  time. Huge parking lot in front of store...empty. They may have a 20-year lease like K-Mart did, and when it expires BB like K-Mart will scram. My town...dead, like a lot of others. Too late to stop the down-hill slide. Less and less for local and state pension funds.

Defund D.C.

Return power and responsibility to the states.

dizzyfingers's picture
It’s HuffPo, Not Conservatives Who Are Interested in Demi Lovato’s Sex Life

It’s actually the sexual liberationist left, not the moral conservatives, who obsess about, and take a prurient interest in, other people’s sexuality and private lives. Social conservatives are interested in understanding and defending valid moral and social norms connected to …

Finally, someone noticed this backwardation.

dizzyfingers's picture

The House of Representatives’ version of the National Defense Authorization Act for 2018 (NDAA 2018) would scuttle the EMP Commission, if not corrected by the Senate — which is considering its version of the NDAA 2018 this week.

RED alert!

Handful of Dust's picture
Michael Savage: The National Felons League Is Spitting on America, Not the Fans

 

 

http://www.breitbart.com/video/2017/09/25/michael-savage-national-felons...