Frontrunning: November 10

Tyler Durden's picture
  • Trump Declares New World-Trade Order (WSJ)
  • Trump brings tough trade message in vision for Asia (Reuters)
  • Trump Offers Trade to Asian Nations But Only If They Play Fair (BBG)
  • Flynn Probed Over Alleged Plan to Send Back Turkish Cleric (WSJ)
  • GOP’s Dueling Tax Overhauls Struggle to Pass a Key Red Ink Test (BBG)
  • Trump's CNN attacks may hobble legal case to block AT&T-Time Warner deal (Reuters)
  • Bigger Than Black Friday, Alibaba’s ‘Singles Day’ Faces Fatigue in China (WSJ)
  • AT&T's Clash in D.C. Threatens Chill on Consolidation in Media (BBG)
  • Manafort Charges Renew Questions About Skadden’s Work in Ukraine (BBG)
  • McKinsey Hired Officials’ Children in Saudi Arabia (WSJ)
  • Bitcoin slides by over $1000 in less than 48 hours (Reuters)
  • GE’s $100 Billion Wipeout Heralds Reckoning for an American Icon (BBG)
  • Brexit never? Britain can still change its mind, says Article 50 author (Reuters)
  • Toshiba Looks to Raise $5.3 Billion in Share Offering (WSJ)
  • Las Vegas Massacre May Add More Than $1 Billion to Insurer Costs (BBG)
  • Snap’s Rise and Fall: How a Splashy IPO Stifled Its Doubters (WSJ)
  • EU to preserve Iran nuclear deal: Mogherini (Reuters)
  • China Bans Actress Zhao Wei From Stock Trading for Five Years (BBG)
  • Microsoft and Google Turn to AI to Catch Amazon in the Cloud (BBG)

 

Overnight Media Digest

WSJ

- The acting chief of the Department of Homeland Security Elaine Duke rebuffed the wishes of the White House this week when she refused to end humanitarian protections for immigrants living in the U.S., people familiar with the deliberations said. on.wsj.com/2hpduZ1

- Musical.ly Inc, the maker of a lip-syncing app popular among teens and tweens, has agreed to be acquired by Chinese news and information site Beijing Bytedance Technology Co for as much as $1 billion, according to people familiar with the matter. on.wsj.com/2hnaPyZ

- Alabama's special election for a U.S. Senate seat was rattled Thursday by allegations that Republican nominee Roy Moore initiated a sexual encounter with a 14-year-old girl several decades ago, when he was 32. on.wsj.com/2hoMTvc

- A day after disagreements between AT&T Inc and the U.S. government over the company's proposed takeover of Time Warner Inc spilled out into the open, AT&T Chief Executive Randall Stephenson said on Thursday he had no reason to believe that antitrust enforcers' examination of the deal was influenced by President Donald Trump. on.wsj.com/2hpMeJJ

- News Corp reported a 5 percent increase in revenue in the most recent quarter, with every segment of the company posting gains driven by positive currency fluctuations, acquisitions in Australia and U.K. and continued growth of its digital real-estate business. on.wsj.com/2hnVEWe

 

FT

* Britain will provide $2 billion in credit guarantees to Saudi Aramco IPO-ARMO.SE so it can buy British goods and services more easily, but denied it was part of efforts to persuade the energy giant to list its shares in London.

* The European Union is asking Britain to accept that Northern Ireland may need to remain in the European customs union after Brexit, according to an update of the negotiations seen by the Financial Times.

* British Prime Minister Theresa May is ready to increase Britain’s offer to the European Union over the Brexit divorce bill.

 

NYT

-  Senate Republicans outlined their vision on Thursday for overhauling the tax code, proposing a one-year delay in U.S. President Donald Trump's top priority of cutting the corporate tax rate while reinstating some prized tax breaks used by middle-class families. nyti.ms/2zvWNQ3

- Randall Stephenson, chief executive of telecommunications giant AT&T Inc, said selling CNN in order to push through his company's $85.4 billion acquisition of Time Warner Inc has never been and will never be on the table. nyti.ms/2zwPho5

- The Walt Disney Co reported weaker-than-expected quarterly earnings on Thursday, partly because of bleak results at ABC, an animated feature film that ended up on the shelf and light "Cars 3" toy sales. nyti.ms/2zwZUr6

- Reddit Inc has banned the online community of "incels," or men who blame women for their involuntary celibacy and sometimes advocate rape, as part of a new crackdown on forums that glorify and incite violence. nyti.ms/2zx7WAd

- Chinese glassmaker Fuyao Glass America beat back a unionization bid at a plant in Ohio, winning a key victory in an important test of the way Chinese companies handle employee relations as they increase their holdings in the United States. nyti.ms/2zz1oRP

 

Britain

The Times

- Britain's economy will trail the Eurozone for each of the coming three years as its growth falls to the bottom of the European Union's 28 members, according to official forecasts from Brussels. bit.ly/2jeN24C

- Britain's Office for National Statistics is planning to ask the public how much time they spend on sharing-economy activities such as Airbnb or Uber Technologies Inc to produce a measure of GDP that is more representative of the modern world. bit.ly/2hq0ORw

The Guardian

- United Kingdom is finalising arrangements for a $2 billion loan guarantee to Saudi Arabia Oil Co IPO-ARMO.SE, but the UK government has denied the support is in any way linked to the state-owned firm's potential listing on the London Stock Exchange. bit.ly/2hogBjS

- British Finance Minister Philip Hammond is being urged to use the budget to reform universal credit to support younger voters, amid growing concerns over the governments flagship benefits programme. bit.ly/2jd4TZL

The Telegraph

- British Prime Minister Theresa May warned pro-European Tory rebels that she will not "tolerate" any attempts to undermine Brexit as she unveils plans to enshrine in law the date that Britain leaves the EU. bit.ly/2ho74tg

- British hopes of opening Brexit trade and transition talks this December were thrown into renewed doubt as it emerged that Ireland is making fresh demands over the Northern Ireland border question. bit.ly/2ho4oLR

Sky News

- Britain's energy market regulator Ofgem is to stop gas and electricity suppliers from charging as much as 900 pounds ($1,182) when they forcibly install pre-payment meters in households struggling to pay bills. bit.ly/2jewryb

- Activist investor TCI Fund Management called for a shareholder meeting to vote on removing London Stock Exchange Group Plc chairman Donald Brydon, saying the company had not explained why chief executive Xavier Rolet was leaving. bit.ly/2jc8R4S

The Independent

- John Lewis has launched a slew of products off the back of its Christmas advert, hoping to cash in on the campaign which has surged in recent years to become the UK's most hotly anticipated on the high street. ind.pn/2jfaqPB

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Arnold's picture

- Chinese glassmaker Fuyao Glass America beat back a unionization bid at a plant in Ohio, winning a key victory in an important test of the way Chinese companies handle employee relations as they increase their holdings in the United States. nyti.ms/2zz1oRP

http://www.zerohedge.com/news/2017-11-08/it-begins-democratic-senator-in...

https://www.vox.com/policy-and-politics/2017/11/6/16599796/northam-gille...

Ohio and Virginia need to start getting their heads out of their ass , or we will be retargeting our nukes.

--Commonwealth of Pennsylvania

A. Boaty's picture

Union busting for the glorious People's Revolution, Comrades!

Lumberjack's picture

If you pay or receive alimony, the new tax reform may be problematic.

Is tax reform the final straw for alimony?

http://mobile.reuters.com/article/amp/idUSKBN1D92J3

The tax deduction for alimony was on the chopping block, eliminating the break for the spouse who pays alimony, and the tax hit for the one who receives it.

TeethVillage88s's picture

Didn't we Privatize student loans and take them off GSEs?

Federal government; consumer credit, student loans; asset, Level (FGCCSAQ027S)
Q2 2017: 1,097,527 Millions of Dollars, Not Seasonally Adjusted, Updated: Sep 21, 2017
https://fred.stlouisfed.org/series/FGCCSAQ027S

Student Loans Owned and Securitized, Outstanding (SLOAS)
Q3 2017: 1,486.2139 Billions of Dollars, Not Seasonally Adjusted, Updated: 2:21 PM CST
https://fred.stlouisfed.org/series/SLOAS

Total Consumer Loans Owned by Federal Government, Outstanding (TOTALGOV)
Sep 2017: 1,136.5321 Billions of Dollars, Not Seasonally Adjusted, (Huge Upward Trend)
https://fred.stlouisfed.org/series/TOTALGOV

Total—International Assistance Program Outlays 2014 = $49.37 Billion

Federal government current transfer payments: Government social benefits: To persons (B087RC1Q027SBEA)
Q3 2017: 2,077.506 Billions of Dollars, Seasonally Adjusted Annual Rate, Oct 27, 2017
https://fred.stlouisfed.org/series/B087RC1Q027SBEA

Government social benefits: To persons: Federal: Supplemental Nutrition Assistance Program (SNAP) (TRP6001A027NBEA)
2016: 65.421 Billions of Dollars, Not Seasonally Adjusted, Updated: Oct 27, 2017
https://fred.stlouisfed.org/series/TRP6001A027NBEA

Total—Department of Health and Human Services Outlays 2014 = $1.032 Trillion
Total--Centers for Medicare and Medicaid Services Outlays 2016 = $1.417 Trillion
Total—Department of Agriculture Outlays 2014 = $159.61 Billion
2014 Federal Outlays for SNAP, Child Nutrition, & WIC = $102.34 Billion

Dickguzinya's picture

For you disturbed dumbocrats out there, who cry about President Trump not being what America needs, the following is another example of why America needs Donald Trump, and how he has won bigly, again, and will continue to win, and Make America Great Again:

From cnbc:  

These are the 37 major deals US firms signed with Chinese entities during Trump's visit
  • The Commerce Department has revealed the 37 major deals signed between U.S. and Chinese companies during President Donald Trump's trip through Asia, totaling more than $250 billion.
  • The deals coincide with President Donald Trump's visit to China, where he was accompanied by a delegation of nearly 30 CEOs from major American companies.
  • "Deals can provide a solid foundation for a stronger relationship that is more free, fair, and reciprocal between the U.S. and China," said Commerce Secretary Wilbur Ross.

"Free, fair and reciprocal,"  something you mentally deranged dumbocrats know nothing about, being that your disturbed agenda has always been about bending over and taking it from our enemies throughout the world.  Keep giving away the keys to the kingdom, just like o-scumbag, trailer trash clin-ton, and the fake conservative bush family, and you have the mess that is prevalent in America today.  Losers!

insanelysane's picture

Tylers,

Minor story out of Providence, Rhode Island that could become major story at some point

Background:

State Trooper driving criminal to court.

State Trooper stops at an accident scene.

Criminal steals cruiser.

Criminal abandons cruiser in Providence.

Cops think criminal is in a white pickup.

A white pickup is driving crazy.

White pickup gets blocked on highway ramp.

Cops blast driver and passenger of trapped truck with hail of bullets.

Driver dead.  Passenger wounded.

Initial report yesterday, cops say that criminal was driver of truck and shot at them first.

Latest report:  Driver was not the criminal AND the driver was not armed.  Passenger was a female who also was not armed or the criminal.