Frontrunning: November 1

Tyler Durden's picture
  • NYC truck attack: Investigators scour driver’s background (AP)
  • Release of House tax bill delayed until Thursday (Reuters)
  • U.S. pursues direct diplomacy with North Korea despite Trump rejection (Reuters)
  • GOP Braces for ‘All Hell’ to Break Loose Over Tax Bill (BBG)
  • Former Trump adviser’s guilty plea could rattle White House (AP)
  • Disclosure of Papadopoulos’s Email Hunt Sheds Light on Quest for Clinton ‘Dirt’ (WSJ)
  • Brexit May Cost 75,000 U.K. Finance Jobs, Top Regulator Says (BBG)
  • Uber-SoftBank Deal in Jeopardy Over Kalanick’s Role (WSJ)
  • U.K. House Prices Stuck in Low Gear Amid Pressure on Incomes (BBG)
  • China’s Dandong Port Group Defaults on $150 Million in Bonds (WSJ)
  • Obamacare's Rising Premiums Will Hurt the Middle Class the Most (BBG)
  • Dodgers Force Game 7, Stifling Astros, 3-1 (WSJ)
  • Gold Bugs Embrace Bitcoin, Upending Retail Sellers (WSJ)
  • Razer CEO to Become a Billionaire With Li Ka-shing Backing (BBG)

Overnight Media Digest

WSJ

- Eight people were killed and at least a dozen injured on Tuesday when a truck mowed down pedestrians and cyclists on a lower Manhattan bike path in what officials said was a "cowardly act of terror," the deadliest attack in New York City since Sept. 11, 2001. on.wsj.com/2gTjndb

- Three U.S. aircraft carriers are scheduled to travel near the Korean Peninsula soon, and the military may decide to keep them in the area for maneuvers that would coincide with President Donald Trump's coming visit to Asia, U.S. defense officials said. on.wsj.com/2gQNS3f

- Rockwell Automation Inc has rejected a takeover bid by Emerson Electric Co worth roughly $27.5 billion, spurning a deal that would have combined two big U.S. makers of machines and software used in manufacturing. on.wsj.com/2gSvuae

- Samsung Electronics Co shook up its senior ranks on Tuesday in a move that would replace all of its co-chief executives and strip its board chairman of any executive role for the first time as it looks to address concerns about a leadership vacuum at the top. on.wsj.com/2gTqOkz

- Federal trade officials are recommending that the Trump administration impose an import tariff of up to 35 percent on solar panels to protect U.S. solar manufacturers from low-price imports that have undercut the companies' ability to compete. on.wsj.com/2gS6zDK

 

FT

Britain’s exit deal with the European Union “will probably favour the union on things like money”, Brexit secretary David Davis told members of the House of Lords on Tuesday, hinting that the UK will have to increase its opening 20-billion-euro ($23.27-billion) offer on the divorce bill to move talks on to the next phases.

Fixed-odds betting terminals, which currently allow gamblers to place bets of up to 100 pounds ($132.77) every 20 seconds on games such as roulette, should have maximum stakes of between 2 pounds and 50 pounds, according to a government review into the gambling industry.

Christopher Bailey, who fashioned Burberry Group Plc into a global label, is to leave the company in 2018, calling an early halt to what he had hoped would be a “wonderful” partnership with new chief executive Marco Gobbetti.

 

NYT

- Executives from Facebook Inc, Google and Twitter Inc appeared on Capitol Hill for the first time on Tuesday to publicly acknowledge their role in Russia's influence on the presidential campaign, but offered little more than promises to do better. Their reluctance frustrated lawmakers who sought stronger evidence that American elections will be protected from foreign powers. nyti.ms/2gS8FU8

- The Environmental Protection Agency and the Department of Justice announced Tuesday that Exxon Mobil Corp will pay $2.5 million in fines for flaring gases at eight plants along the Gulf Coast. Agency officials said the announcement was evidence of the Trump administration's commitment to enforcing the nation's environmental laws. nyti.ms/2gQ0He5

- National Public Radio has placed a top editor on leave after allegations emerged on Tuesday that he had sexually harassed multiple women while at The New York Times. nyti.ms/2gRCdRK

- Google Docs threw some users for a loop on Tuesday when the service suddenly locked them out of their documents for violating Google's terms of service. The alerts were caused by a glitch, but they served as a stark reminder that not much is truly private in the cloud. nyti.ms/2gSrfvu

- Scott Pruitt, the head of the Environmental Protection Agency, stripped a half-dozen scientists and academics of advisory positions Tuesday and issued new rules barring anyone who receives EPA grant money from serving on panels that counsel the agency on scientific decisions. nyti.ms/2gS8Oa8

- House Republicans delayed the rollout of their tax bill late on Tuesday, in a sign of early trouble for what party leaders had hoped would be a quick victory. nyti.ms/2gT6r6K

 

Canada

THE GLOBE AND MAIL

Canadian retailer Metro Inc confirmed that bureau investigators were at its Montreal and Toronto offices "in an investigation that is also targeting other Canadian retailers as well as suppliers," spokeswoman Marie-Claude Bacon said, noting the bureau is looking into pricing. tgam.ca/2z3HgqF

Backers of British Columbia liquefied natural gas projects say they will fight Ottawa's anti-dumping duty imposed on imported modules, warning that Canada is at risk of being shut out of the global LNG industry. tgam.ca/2z50UlY

An Ontario court judge will be asked to dismiss all criminal charges against two senior staffers in former Ontario premier Dalton McGuinty's office accused of destroying government records related to the controversial cancellation of two gas-fired power plants. tgam.ca/2z3OvyR

NATIONAL POST

Natural gas producers in Alberta are frustrated with TransCanada Corp for changing the way it operates its gas pipeline network with little notice, which has led to massive commodity price swings. bit.ly/2z3HVIs

 

Britain

The Times

- The head of the Financial Conduct Authority was criticised by MPs yesterday for slowness, complacency and methodological failings in its investigation into the scandal of small companies being deliberately mistreated by Royal Bank of Scotland. bit.ly/2z9SNXc

- Vincent Tchenguiz has ended his long-running 2.2 billion pound ($2.92 billion) court battle against Kaupthing after reaching a confidential settlement with the failed Icelandic bank. bit.ly/2z8DBtq

The Guardian

- The UK's property market will take this week's expected rise in interest rates in its stride, according to ratings agency Moody's, but it warned that the outlook for the buy-to-let market has worsened significantly. bit.ly/2z9TRdE

- The advertising group WPP Plc has lowered its growth forecasts for the third time this year amid shrinking client budgets, but said its UK business was benefiting from Brexit uncertainty. bit.ly/2z8EEd0

The Telegraph

- British fashion house Burberry Group Plc revealed that long-serving creative designer Christopher Bailey, 46, will step down next March from the board but will continue to provide "full support" to Burberry's team, which includes new boss Marco Gobetti, until the end of 2018. bit.ly/2z72w0E

- BP Plc investors sent shares in the oil major to its highest price this year after the supermajor more than doubled its profits in the last three months, driven by a five-year high in earnings for its fuels, petrochemicals and refining businesses. bit.ly/2zamuYx

Sky News

- Learndirect, the former state-owned training provider, has won a last-ditch reprieve from its lenders as it seeks to rebuild its finances in the wake of a controversial report by the education watchdog. bit.ly/2z53Fnz

- Banks will start taking "irreversible" decisions such as moving staff abroad if no Brexit transition deal is agreed by the end of this year, the head of the City watchdog has warned. bit.ly/2z8GDOk

The Independent

- The maximum stake on fixed-odds betting terminals will be reduced from 100 pounds to between 50 pounds and 2 pounds, the Government announced on Tuesday – a move designed to protect vulnerable gamblers. ind.pn/2z1zTjt

- Cabin crew members of the Unite union working for British Airways' mixed fleet unit at Heathrow have accepted a pay deal by a majority of five to one. ind.pn/2z3dCS4

 

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Arnold's picture

- Executives from Facebook Inc, Google and Twitter Inc appeared on Capitol Hill for the first time on Tuesday to publicly acknowledge their role in Russia's influence on the presidential campaign, but offered little more than promises to do better. Their reluctance frustrated lawmakers who sought stronger evidence that American elections will be protected from foreign powers. nyti.ms/2gS8FU8

The constant wailing of wambulences in Metro DC must be deafening.

TeethVillage88s's picture

Politicians are all sanctimonious UNTIL their hypocritical actions come to light.

They act like they are above been human, AS IF their feet are not made of Clay like everyone else. High and Mighty. High and Mighty.

Rhetoric. Hyperbole. Ad Hominem Attacks. Partisan BS Bickering. Wool pulled of the Citizens Eyes. Shauspielers. Actors in front of a camera.

Like Chuck Schumer with his prop glasses low on his nose.

- But Power is being pulled to the Central Govt & Central Bank
- But Control is being pulled to Giant Transnationals and Central Govt
- But Corporate Power is being increased in Inverted Totalitarianism

Arnold's picture

I'm gonna need more coffee, Teeth.

TeethVillage88s's picture

was gonna post employment data... jobs lost by people killing other people.

https://www.census.gov/library/publications/2017/demo/p60-259.html

Poverty:
- In 2016 there were 40.6 million people in poverty, 2.5 million fewer than in 2015 and 6.0 million fewer than in 2014

http://www.newsweek.com/people-food-stamps-snap-decline-participation-64...

"As of July 7, 42.6 million Americans were receiving SNAP benefits during the current fiscal year, down from 44.2 million in 2016. The 2017 figure is the lowest since 2010, when 40.3 million people were on food stamps. The number peaked in 2013, at 47.6 million."

https://fns-prod.azureedge.net/sites/default/files/pd/34SNAPmonthly.pdf

https://fred.stlouisfed.org/series/LNU01300060
Civilian Labor Force Participation Rate: 25 to 54 years (LNU01300060) 82.0 Percent, Not Seasonally Adjusted, Oct 6, 2017

https://fred.stlouisfed.org/series/LNU05000000
Not in Labor Force (LNU05000000) 94,513 Thousands of Persons, Not Seasonally Adjusted, Oct 11, 2017

Manufacturing:
http://research.stlouisfed.org/fred2/series/MANEMP (12 Million down from 19.5 Million) All Employees: Manufacturing

Information Services:
http://research.stlouisfed.org/fred2/series/USINFO (2.65 Million down from 3.7 Million) All Employees: Information Services

Mining, Drilling, Logging
http://research.stlouisfed.org/fred2/series/USMINE (Peak was 1981, now .9 Million down from 1.3 Million) All Employees: Mining and logging

Goods producing Industries:
http://research.stlouisfed.org/fred2/series/USGOOD (19 Million down from 25 Million) All Employees: Goods-Producing Industries

Wealth & Income gaps grow btw rich & poor

http://research.stlouisfed.org/fred2/series/GINIALLRH (Gini Ratio/Coefficient)

I'm outta here

Never One Roach's picture

Another major news outlet calls for Mueller to resign:   Robert Mueller should resign

That became obvious last week when events showed that any honest probe must examine the Obama White House and Justice Department. Mueller served as head of the FBI for more than four years under President Barack Obama and cannot be expected to investigate his former colleagues and bosses.

But without that necessary step, his work would be incomplete at best. So it’s time for him to say ­bye-bye.

http://nypost.com/2017/10/28/robert-mueller-should-resign/

Arnold's picture

Release of House tax bill delayed until Thursday (Reuters)

Black Friday Sale at the Congressional offices and Happy Hour until 2 am.

-- Committee for Better Lobbying

TeethVillage88s's picture

I hear there is tremendous pressure inflating the Lobby Expenses Demanded by US Congressmen.

Lobby Dollars just don't go as far today as they did last month...

The Inflation is so bad there are now over 20,000 Domestic and Foreign Lobbyists in DC!

TeethVillage88s's picture

Release the Kraken! 2 days and a wake up to pass the Tax Bill!

Arnold's picture

Nut n Honey.

An intensive investigation continues, but the answers to the many questions about the tragic Oct. 1 mass shooting may not be known for months or years.

https://www.reviewjournal.com/crime/shootings/las-vegas-shooting-details...

The locals cannot even fill a column on the shooting without filler from other horrific references.

TeethVillage88s's picture

What is the motive for Chicago Drug Gangs, & Gang Shootings & Killings?

- Economic Stress
- Education Stress
- Jobs Stress/No new opportunities for the 100 Million US Citizens who are not working... 20 Million Jobs sent overseas to slave labor
- Downward Pressure on Wages & Compensation
- Downward Pressure on Ponzi Pension Plans
- Downward Pressure on Wealth with LIPR/ZIRP & Planned inflation
- Downward Pressure on Charities with planned Inflation
- Upward Pressure on Living Expenses, utilities, Transpo, Food, Rent due to Planned Inflation/Deflation of Value of USD

Could be Immigrants feel the same pressure as well as get the Threats to their family, coercion, offers of Death Money for Families and a chance to meet virgins in Heaven... Family killed or Death Money & heroes death... Live in USA or Europe with Planned Inflation and loss of Wealth & Pride of Work...

TeethVillage88s's picture

Dear President Trump;

Shalome, may Gods peace be with your family.

Jobs Program, Sir. You gotta do it. GOP won't support a Jobs Program and the Progressives have forgotten the Disenfranchised and our minorities that struggle to find purpose and to find self respect. 100 Million people not working and since 1979 we should have created like 2 million jobs a year for population growth. It is like 50 Million Jobs, not part time jobs. So we need 20 Million Bread Winner Jobs that we lost to off-shoring and capital spend in foreign lands!

Gotta do it. Jobs Program. Apprenticeships. R&D. Infrastructure. Kids learning to work, to get skills, to build a future.

TeethVillage, Village Social Worker, MAGA

MEAN BUSINESS's picture

TeethVillage, although one may find the following vid overly dramatic, it is effective in getting the message across when most people don't have the time to scour through tons of data. What do you think?

https://www.youtube.com/watch?v=QRpWir4eDrs

FAIRTAX: Fire Up Our Economic Engine

(which is exactly language POTUS & VPOTUS have been using (Trump's address to Congress for example)

Also https://www.youtube.com/watch?v=LtVmEfPqTaI

Pence on the FairTax

If WAY MEAN Chair Brady brought H. R. 25 (which Pence has co-sponsored) to the Floor, "all Hell" would break loose, and I think that would be a GREAT thing. Everyone would be talking about it, and the links to healthcare repeal/replace, AND new immigration legislation. That is what people should be talking about for the next year!

TeethVillage88s's picture

Need FBI to handle public sex act? Planned Inflation?

Kinda over kill. Most expensive kind of investigators, inflating cost of crime prevention.

https://www.clickondetroit.com/news/man-woman-caught-having-sex-on-fligh...

"Both people were issued citations, and the investigation was handed over to the FBI. "

Arnold's picture

That was not a sex act.

--Strange Uncle Bill

TeethVillage88s's picture

"On top of NBC’s Mark Halperin, Rolling Stone’s Matt Taibbi, and The New Republic’s Hamilton Fish and Leon Wieseltier, Oreskes is now the fifth member of the elite media in a month to be accused of sexual misconduct."

Breitbart

mkhs's picture

A cigar is not sexual!!!!!!!!!!!!!!!!!!!!!1

 

TeethVillage88s's picture

Covert surveillance cameras, spying alarm Florida legislators...

Cheating, sex harassment charges flying in Capitol...

http://www.tampabay.com/florida-politics/buzz/2017/10/31/someones-spying...

- probably is ISIS trying to coerce or blackmail to get access to place bombs