Frontrunning: November 16

Tyler Durden's picture
  • Senate Panel Approves Tax Plan as GOP Leaders Gird for Fight (BBG)
  • U.S. towns, cities fear taxpayer revolt if Republicans kill deduction (Reuters)
  • After House Victory, Tax-Overhaul Fight Now Goes to Senate (WSJ)
  • Analysts flee Wall Street with gallows humor as research changes loom (Reuters)
  • Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig (BBG)
  • Bitcoin Emerges as Crisis Currency in Hotspots (BBG)
  • Ivanka Trump and the fugitive from Panama (Reuters)
  • Murdoch Empire in Play as Suitors Line Up for 21st Century Fox Assets (WSJ)
  • Franken Case Puts Both Parties in Bind on Misconduct Response (BBG)
  • Crime Wave Engulfs Sweden as Fraud, Sexual Offenses Reach Record (BBG)
  • Google Has Picked an Answer for You—Too Bad It’s Often Wrong (WSJ)
  • Saudi Arabia swapping assets for freedom of some held in graft purge: sources (Reuters)
  • Metal recyclers prepare for electric car revolution (Reuters)
  • Despite Big Push From Beijing, Electric Cars Struggle in China (WSJ)
  • Harvard’s Days as the World’s Richest School May Be Numbered (Reuters)
  • Sears Dials Up Discounts to Record Levels as It Copes With Slump (BBG)
  • Zimbabwe's Mugabe Makes First Public Appearance Since Military Takeover (WSJ)
  • Hassett Bets on 3% U.S. Growth That Summers Sees in Fairyland (BBG)
  • Two Weeks of Frenzied Negotiations Led to Bank-Relief Deal (WSJ)

 

Overnight Media Digest

WSJ

- The House of Representatives passed a bill that would usher in the most far-reaching overhaul of the U.S. tax system in 31 years, a plan that would reduce the corporate tax rate to its lowest point since 1939 and cut individual taxes for most households in 2018. on.wsj.com/2j1JjUr

- New suitors are circling Twenty-First Century Fox Inc , affirming that the media empire built by Rupert Murdoch is now in play. Comcast Corp has approached the media company. Verizon Communications Inc and Sony Corp are also kicking the tires. on.wsj.com/2j0i38O

- A federal judge declared a mistrial in the corruption trial of U.S. Sen. Bob Menendez, giving the Democrat a political lifeline and preserving his party's control of the seat for the near future. on.wsj.com/2j1LebB

- Meredith Corp has made a takeover bid for storied magazine publisher Time Inc in the range of $17 to $20 a share, according to people familiar with the situation. on.wsj.com/2j0Ht6p

- An activist investor in Barnes & Noble Inc has proposed a transaction that would take the bookseller private with the help of current shareholders and a hefty dose of borrowings, an effort that could face formidable obstacles. on.wsj.com/2j0EvP6

- Emerson Electric Co boosted its takeover offer for Rockwell Automation Inc, ratcheting up an effort to bring its reluctant rival to the negotiating table and forge a new giant in industrial automation. on.wsj.com/2j21qd2

 

NYT

- With 227 Republican votes, the House passed the most sweeping tax overhaul in three decades on Thursday as U.S. lawmakers seek to enact $1.5 trillion in tax cuts for businesses and individuals and deliver the first major legislative achievement of President Donald Trump's tenure. nyti.ms/2hDqQRs

- The cable company Comcast Corp is in preliminary talks to buy entertainment assets owned by Twenty-First Century Fox Inc, including a vast overseas television distribution business. nyti.ms/2hxkbof

- Tesla Inc has aimed to reinvent the automobile and the way electricity is generated for homes. In a presentation by its chief executive, Elon Musk, Tesla unveiled a prototype for a battery-powered, nearly self-driving semi truck that the company said would prove more efficient and less costly to operate than the diesel trucks that now haul goods across the country. nyti.ms/2zJPgzU

- The senior American diplomat at the United Nations climate talks in Germany told world leaders on Thursday that the United States would remain engaged in global climate change negotiations even as it planned to exit the Paris agreement "at the earliest opportunity." nyti.ms/2ySE1Bd

- The Federal Communications Commission voted on Thursday to allow a single company to own a newspaper and television and radio stations in the same town, reversing a decades-old rule aimed at preventing any individual or company from having too much power over local coverage. nyti.ms/2zN7YpA


Britain

The Times

* Prudential Plc is scaling up its ambitions in Asia with plans to open a fund management venture in China and to double in size in the region every few years. bit.ly/2jxRjAk

* WPP said it was prepared to increase its stake in Asatsu-DK, one of the largest marketing services companies in Japan, to about a third after requests from other shareholders. bit.ly/2jwULvg

The Guardian

* The business secretary, Greg Clark, has been urged by the GMB union to block the proposed merger of German energy group Innogy's British unit, npower with SSE's British retail supply business .bit.ly/2jxZCMG

* The chief executive designate of GKN, Kevin Cummings, has been ousted from the FTSE 100 company weeks before he was due to take up the top job at the aerospace and engineering firm. bit.ly/2jz3GvX

The Telegraph

* Jaguar Land Rover has quietly started testing driverless cars on British roads that are simultaneously being used by the general public, in a clear indication that Britain's biggest manufacturer is determined the country will play a leading role in the race to develop autonomous vehicles. bit.ly/2jyNx9Z

* The Serious Fraud Office has made its first charges against Unaoil employees in relation to a corruption scandal that has engulfed the oil and gas industry. bit.ly/2jy7he2

Sky News

* The boss of U.S. investment bank Goldman Sachs, Lloyd Blankfein, has used his latest Twitter post on Brexit to suggest a second referendum is held. bit.ly/2jyVwnr

* The GMB union's Scotland secretary, Gary Smith, has told Sky News a dispute threatening 1,400 jobs is a battle for the future of skilled manufacturing in Scotland. bit.ly/2jy60U4

The Independent

* Rail passengers on the UK's leading long-distance network face disruption and cancellations after Virgin Trains staff belonging to the RMT union voted to strike by a majority of 10 to one. ind.pn/2jvIwil

* Retail sales continued to grow in October according to the latest official data, easing some of the fears of a plunge in consumer spending. A survey of retailers by the CBI had suggested the fastest rate of decline in sales in October since the UK's last recession in 2009. ind.pn/2jyWfFb

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wintraiz's picture

THis one is not goign to fly   Bitcoin Emerges as Crisis Currency in Hotspot

A. Boaty's picture

“In many countries in Africa, there are far more cellphones than bank accounts,” said Manuel Valente, co-founder of La Maison. “For bitcoin, all you need is a phone.”

https://www.bloomberg.com/news/articles/2017-11-17/bitcoin-emerges-as-cr...

Ouagadoudou's picture

Also need 8000 dollars ....

A. Boaty's picture

Can I Buy a Fraction of a Bitcoin?
Yes! A bitcoin is really just an entry in a database so it can be divided up into fractions. Currently, the system allows 8 decimal digits. As the price rises users will deal in milliBitcoins or even microBitcoins. Most wallets allow for changing the display from Bitcoins to milliBitcoins. If the exchange rate is $1,000 for 1 bitcoin then a milliBitcoin is worth $1. A $5 purchase would be 5 milliBitcoin or 10 “MillyBits.”

Since there is no official Bitcoin company or any central authority there is no set name for fractions of a Bitcoin. 0.001 is a “milliBitcoin” or MillyBit. Other name suggestions include BitMills or just “mills” or “millies.” There is also suggestions that 0.01 Bitcoins be called “Bit Cents.”

https://millybitcoin.com/can-i-buy-a-fraction-of-a-bitcoin/

Kefeer's picture

You believe your own crapola??!!  That nice little fork in the road will prove to be a real problem and all will know within 6 months.  If you really believe that no government authority or associated institution, such as Central Banks, will not and already do have a hand in BitCoin, then you are delusional.  I would argue it is because of these things that BitCoin will continue upward.  If these institutions decide to start from scratch as opposed to pervert the original idea, then the original will die, but it appears the perversion route is the preferred one.  Just wait and see, the signs are already clear.

 

https://www.coindesk.com/bitcoins-bogeyman-cometh-segwit2x-51-attack/

Arnold's picture

- A federal judge declared a mistrial in the corruption trial of U.S. Sen. Bob Menendez, giving the Democrat a political lifeline and preserving his party's control of the seat for the near future. on.wsj.com/2j1LebB

The rumor had it the Jury was deadlocked 10 to 2.

"Last week, a juror excused for a long-planned vacation to the Bahamas telegraphed the divisions in the jury room and predicted a mistrial.
"It's going to be a hung jury," said Evelyn Arroyo-Maultsby, who told CNN she would have voted to acquit on all charges if she had stayed on the jury. "I know there's a few that feel the same way I do, and they're going to hold their own."

http://www.cnn.com/2017/11/16/politics/bob-menendez-trial/index.html

Urban Roman's picture

Nov. 16 should be easy to frontrun. The Dow will be up more than 100 points! Gold and silver will be essentially flat. Bitcoin will surge. Everything will be awesome!

Nov. 17 is another matter, but could be quite similar..

Handful of Dust's picture
Verizon’s Oath Is Laying Off Around 500 AOL, Yahoo Employees

 

http://variety.com/2017/digital/news/verizon-oath-layoffs-500-jobs-aol-y...

 

 Yahoo is nothing more then a DNC propaganda machine these days.

Kefeer's picture

Yahoo's audience is made of women laid down with sin especially in the area of gossip.  

Kefeer's picture

I'm waiting for a large Black Swan event today.  Seems like 11-17-17 looks like a good Satanic number.  Still have 12-16 hours before it is 11-18-17.