- Marchers protest police violence in Baltimore, New York (Reuters [31])
- Majority of Financial Pros Now Say Greece Is Headed for Euro Exit (BBG [32])
- Greece signals concessions in crunch talks with lenders (Reuters [33])
- Greece, Euro-Area Partners Target Deal by Sunday (BBG [34])
- Iglesias Says EU Risking Right-Wing Backlash With Greek Pressure (BBG [35])
- Student-Loan Surge Undercuts Millennials’ Place in U.S. Economy (BBG [36])
- Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? (WSJ [37])
- George Soros’s Tax Bill (BBG [38])
- FAA Temporarily Denied Medical Certificate to Germanwings Co-Pilot Andreas Lubitz (WSJ [39])
- Images show North Korea nuclear reactor may be operating again (Reuters [40])
- The Oil Slump is Emptying the Stores of Dubai (BBG [41])
- Wall Street Pushes Back on Foreign Bribery Probe (WSJ [42])
- Apple Watch: Faulty Taptic Engine Slows Rollout (WSJ [43])
- Goldman a Lead Investor in Funding Round for Bitcoin Startup Circle (WSJ [44])
Overnight Media Digest
WSJ
* The value of some smaller oil companies has tumbled by so much that bigger firms may find it less expensive to buy crude that someone else has discovered rather than to go digging for it.(http://on.wsj.com/1bWMhVm [37])
* A key component of the Apple Watch made by one of two suppliers was found to be defective, causing limited availability of the highly anticipated new product.(http://on.wsj.com/1bWMk3z [43])
* The FBI helped facilitate a 2012 ransom payment to al Qaeda from the family of kidnapped aid worker Warren Weinstein, senior U.S. officials said, revealing a contradiction in the U.S. position against paying ransoms. (http://on.wsj.com/1bWMnw8 [45])
* Goldman Sachs is one of two lead investors in a $50 million funding round for bitcoin startup Circle Internet Financial.(http://on.wsj.com/1bWMRCv [46])
* Still coping with fallout from last year's departure of Bill Gross, Pimco has brought in Ben Bernanke as senior adviser to help fill the void.(http://on.wsj.com/1bWMEPK [47])
FT
The U.S. recovery has lost momentum and the pace of hiring has moderated, the Federal Reserve said, fuelling expectations that an interest-rate increase is unlikely by the middle of the year.
The Government Pension Fund Global, which invests Norway's oil wealth, made more money in the first three months of the year than the government spent in the same period.
Former Fed chair Ben Bernanke is taking a role as senior adviser to Pimco, to advise Pimco's investment committee on macroeconomic issues and monetary policy, and also take part in client events.
The second-largest shareholder in Holcim Ltd has given its support to the Swiss cement company's takeover of France's Lafarge SA, removing one of the last obstacles to a 41 billion euro ($45.56 billion) deal to create the world's largest cement company by revenues.
Saudi Arabia's King Salman bin Abdulaziz al-Saud has announced a sweeping shake-up that paves the way for a new generation of rulers in the world's biggest oil exporter.
Alliance Trust Plc investors attacked its board for spending 3 million pounds fighting proposals from activist hedge fund Elliott before reaching a last-minute truce on the eve of a pivotal annual meeting.
NYT
* The Federal Reserve's policy makers signaled that an interest-rate hike is still likely later this year. (http://nyti.ms/1bgiFB2 [48])
* Pimco, the global bond giant, said on Wednesday Ben Bernanke, the former Federal Reserve chairman, would become a senior adviser to the firm. (http://nyti.ms/1DLGhW2 [49])
* A Senate bill introduced on Wednesday was aimed at slowing so-called patent trolls, companies whose principal business is generating suits rather than producing products. (http://nyti.ms/1JCc6aQ [50])
* Ford Motor Co is recalling almost 593,000 cars and trucks in North America, including 520,000 because the power-assist to the steering could be lost, making the vehicle harder to turn, the automaker announced on Wednesday. About 554,000 of the vehicles are in the United States. (http://nyti.ms/1HSMqF1 [51])
* The streaming service Hulu has signed an exclusive deal to stream episodes of "Seinfeld," adding the classic television sitcom to its expanding slate of programming. The deal with Sony Pictures Television, announced on Wednesday during Hulu's Digital Content NewFronts presentation, includes all nine seasons of the show, which will be available on Hulu's subscription service starting in June. (http://nyti.ms/1JU695O [52])
Canada
THE GLOBE AND MAIL
** The first Canadian Forces plane bearing relief supplies landed in earthquake-ravaged Nepal Wednesday, stopping briefly in Kathmandu before taking on a small group of Canadians and Americans and flying them to India. (http://bit.ly/1I0sVMn [53])
** Toronto's ombudsman is preparing to release a scathing report into the conduct of City Hall security at the height of the Rob Ford scandal, including one instance where a guard reportedly covered a security camera to block it from recording the former mayor's alleged intoxication. (http://bit.ly/1P751NZ [54])
** Royal Bank of Canada, Canada's largest bank, has decided that it's not enough to charge clients interest when they borrow money. Starting June 1, a limited number of the bank's customers will pay a fee when they make their regular monthly loan or mortgage payments from various accounts. (http://bit.ly/1bgtjb5 [55])
NATIONAL POST
** Facebook Inc is expanding its Legacy Contact initiative to Canada Thursday, allowing people to designate a friend or family member who can become the manager of their Facebook profile in the event of their death. (http://bit.ly/1dwaYZl [56])
** A Toronto law firm is seeking C$2 billion in damages from Loblaw Co and its Joe Fresh clothing line in a proposed class action lawsuit related to the 2013 Bangladesh garment factory collapse that killed more than 1,100 workers. (http://bit.ly/1GIb3Ta [57])
Hong Kong
SOUTH CHINA MORNING POST
-- Chinese corruption fugitive Cheng Muyang, who has been identified as Vancouver property developer Michael Ching Mo Yeung, is seeking refugee status in Canada as he seeks to evade mainland authorities. Federal Court documents show that rejected refugee claimant Ching Mo Yeung has hired renowned human rights lawyer David Matas. (bit.ly/1JaqcNj)
-- The central government will strive to improve its relationship with Hong Kong pan-democrats even if they vote down the proposal for 2017 chief executive election, a top mainland official said. Wang Guangya, director of Hong Kong and Macau Affairs Office, spelled out that Beijing would take into account public opinion and national security for relaunching the reform process. (bit.ly/1JC6fSY)
-- Increased violence against journalists and cyberattacks on news websites have led to a further decline in Hong Kong's press freedom, says a U.S. report. The study by Freedom House, a social concern group, ranked the city 83rd in press freedom, down from last year's 74th place and 71st position in 2013. (bit.ly/1P8pZvY)
THE STANDARD
-- Hong Kong property agents are set to face more stringent regulations in a bid to deter them from inflating sales at new developments. The Sales of First-hand Residential Properties Authority said agents had been accused of writing too many checks for flats to make it appear heavily oversubscribed, and in future they have to disclose how many checks they have written. (bit.ly/1Fz1Q0H)
-- A pro-democracy activist who threw eggs at Financial Secretary John Tsang Chun-wah has started serving his three-week jail sentence after he failed in his appeal to quash his conviction. Justice Derek Pang Wai-cheong upheld the lower court ruling, saying Chan's egg-throwing was an actual assault and was intentional. (bit.ly/1zrAuZu)
-- Hong Kong and Macao Affairs Office director Wang Guangya said Beijing has no plans to codify in mainland laws the appointment procedures for the chief executive of Hong Kong. (bit.ly/1ErvjaJ)
HONG KONG ECONOMIC JOURNAL
-- Hutchison Whampoa Group Managing Director Canning Fok received an annual salary of HK$196.3 million ($25.33 million) in 2014, an increase of 4.3 percent from the previous year, according to the annual report.
-- Sino Land has won a tender for a residential site in Sai Kung in the New Territories for HK$609 million ($78.58 million), beating the upper end range of market estimation by 47 percent.
Britain
The Times
* Barclays adds another 800 mln pounds to rate-rigging settlement pot
Barclays Plc has set aside a further 800 million pounds ($1.23 billion) to cover its impending settlement on foreign exchange rate-rigging, bringing its total provisions for wrongdoing to just over 2 billion pounds. (http://thetim.es/1ESAWlK [58])
* Egypt bids for jail term on another Sainsbury's chief
Egypt's public prosecutor has taken aim at Justin King, the former boss of J Sainsbury, as the courtroom drama enveloping the supermarket chain deepens. King's conviction for "breach of trust" was overturned this year on appeal, it has now emerged that the public prosecutor in Egypt has since filed a fresh application to review King's acquittal. (http://thetim.es/1JacREQ [59])
The Guardian
* Greece close to minimum agreement deal with creditors, says deputy PM
Greece could seal a deal with its creditors in early May, its deputy prime minister said on Wednesday, as the country prepared a new list of reforms and the European Central Bank provided more support to its beleaguered banks. (http://bit.ly/1zeGfJE [60])
* UK house prices rise by 1 pct in April, says Nationwide
The price of an average UK home rose by 1 percent in April, the biggest increase since early summer, figures from the Nationwide show. The UK's biggest building society said the pickup in growth had occurred despite a slowdown in activity, which could have been caused by uncertainty over the election. (http://bit.ly/1JRGivf [61])
The Telegraph
* Vodafone 'could fund Liberty Global takeover with 30 bln pounds sell-off'
Vodafone Group faced a new round of speculation over a possible takeover of Liberty Global Plc on Wednesday, after analysts claimed it could sell networks in far-flung countries such as South Africa, India and Australia to fund the move. Berenberg said Vodafone could raise 30 billion pounds by selling its AMAP division - covering Africa, the Middle East and Asia-Pacific - to make a Liberty takeover more palatable by reducing the need to issue new shares or take on a heavy debt burden. (http://bit.ly/1AifsYh [62])
* 'We won't surrender': Firebrand Greek minister risks fresh schism with Europe
Hopes that a revamped Greek bail-out team would finally break a two-month deadlock with creditors took a fresh blow on Wednesday, as the Leftist government's firebrand energy minister pledged "no surrender" to international lenders. (http://bit.ly/1JBWZhM [63])
Sky News
* Made.com crosses the channel for 20 million pounds deal
Made.com is in advanced talks with Partech Ventures about a deal that would involve it committing approximately 20 million pounds to support the company's expansion. (http://bit.ly/1bf28x4 [64])
* Diesel faces crackdown as UK ordered to act
The Government has been ordered to act immediately to comply with European air pollution limits. The decision by the Supreme Court relates to nitrogen dioxide, largely produced by diesel engines, and it could lead to tight controls on diesel vehicles in Britain's largest cities. (http://bit.ly/1HRk9OZ [65])
The Independent
* Flash crash trader Navinder Singh Sarao given another week to raise 5 million pounds bail
The UK trader accused of contributing to the Wall Street "flash crash" has been returned to custody after a Westminster Magistrates Court appearance today in which he was granted another week to raise 5.05 million pounds bail. (http://ind.pn/1JadP3S [66])