Frontrunning: November 10

  • Trump Victory Starts New Era for GOP (WSJ)
  • President-Elect Trump Goes to Washington to Begin Transition (BBG)
  • Trump Team Plans First Months (WSJ)
  • The Promises of President-elect Donald Trump, in His Own Words (BBG)
  • Donald Trump Transition Team Planning First Months in Office (WSJ)
  • Europe’s Populists Hail Trump’s Win (WSJ)
  • Merkel's conservatives warn of Trump effect in Germany (Reuters)
  • Democrats Seek a Fresh, More Inclusive Approach (WSJ)
  • Obama’s Environmental Legacy Is Up in Smoke (BBG)
  • China state media warns Trump against isolationism, calls for status quo (Reuters)
  • Stocks and Metals Surge Again After Trump’s Victory (BBG)
  • Bank Stocks in Europe Soar (WSJ)
  • Trump promised to repeal Obamacare. Now what? (Reuters)
  • Trump eyeing GOP lawmakers for Cabinet posts (Hill)
  • Trump Victory Wipes $337 Billion Off Market as Global Bonds Drop (BBG)
  • Russia Says It Was in Contact With Trump’s Team During Campaign (Bloomberg)
  • 'Crashing waves' of jihadists fray soldiers' nerves in Mosul battle (Reuters)
  • Katy Perry Ditches Alibaba’s Concert After Anti-Trump Tweets (BBG)
  • For Canadian Trade Insiders, Trump Is All Talk on Killing Nafta (BBG)
  • Two police shot in Pennsylvania, manhunt launched: media (Reuters)
  • ConocoPhillips cuts budget 4 percent, to buy back $3 billion in shares (Reuters)
  • Egypt Secures $2 Billion as IMF Approval Nears (BBG)

 

Overnight Media Digest

WSJ

- President-elect Donald Trump spoke with Israeli Prime Minister Benjamin Netanyahu and Egyptian President Abdel Fattah Al Sisi on Wednesday and will have his first post election meeting with President Barack Obama on Thursday to discuss the transfer of power between their two administrations in January. http://on.wsj.com/2fEdr6z

- Shaken by the election results, Democrats are pointing to Hillary Clinton's defeat in the presidential race as a repudiation of the party's message, candidates and reliance on high-dollar donations. http://on.wsj.com/2fEgaNA

- Thousands of protesters packed the area around Trump Tower in Midtown Manhattan on Wednesday night, chanting slogans against President-elect Donald Trump. Demonstrators marched in other cities around the country, including San Francisco, Boston, Washington, Philadelphia, Seattle, Austin, Texas, and Portland, Ore. In Chicago, thousands massed outside Trump Tower. http://on.wsj.com/2fzBgvY

- Executives world-wide encountered a political and economic landscape radically changed by Donald Trump's surprise election, which reverberated through the energy, health-care and manufacturing sectors. http://on.wsj.com/2ekG7DZ

- Yahoo Inc is evaluating whether an unidentified hacker has access to its user account data, following a 2014 hack that resulted in the theft of more than 500 million user account records. http://on.wsj.com/2eDYX3W

- Donald Trump's surprise victory is injecting a wave of uncertainty into a global climate conference that began this week in Marrakesh, Morocco. http://on.wsj.com/2elys8n

- European populists seized on Donald Trump's election Wednesday as evidence of a sea change that will help sweep away the continent's political establishment and carry them to power. http://on.wsj.com/2fmCNFh

- Goldman Sachs Group Inc on Wednesday named 84 new partners, a smaller crop of executives than in years past as core businesses remain challenged. http://on.wsj.com/2fEjCYg

- Mexico's government, amid a record decline in the peso, rushed to reassure both its own citizens and foreign investors that the country was on solid footing in facing the fallout of Donald Trump's surprise victory in the U.S. presidential election. http://on.wsj.com/2eEbKUe

 

FT

Two former chief executives of Rio Tinto Plc discussed payments to a consultant for work on a $20 billion iron ore project in Guinea that the company has since reported to regulators.

John Lewis Plc signed a deal with Sky TV to give the broadcaster rights to screen the department store chain's Christmas advert.

Standard & Poor's has affirmed the credit ratings of the United States of America following Donald Trump's victory in the presidential election.

French anti-fraud investigators have referred Renault SA to state prosecutors over abnormal emissions of nitrogen oxide pollutants from some of its diesel engines.

 

NYT

- The State of New Jersey moved on Wednesday to take control of Atlantic City, having lost patience with the financially troubled gambling resort's inability to pay its bills. http://nyti.ms/2fEcbQU

- Yahoo employees were aware in 2014 that a hacker backed by a foreign government had broken into its network, the company said in a securities filing on Wednesday. http://nyti.ms/2fE8jzw

- The Irish government on Wednesday filed an appeal seeking to stop efforts by European authorities to force Apple to pay the country $14.3 billion to cover what antitrust officials say are unpaid taxes. http://nyti.ms/2fEb8Ak

- Goldman Sachs said on Wednesday that it would add 84 partners, more than the 78 designated in 2014 but fewer than the 111 from six years ago. http://nyti.ms/2fE7KWa

- On Wednesday, Twitter said that Adam Bain, its chief operating officer, plans to leave the company. http://nyti.ms/2fE7MNM

 

Canada

THE GLOBE AND MAIL

** Donald Trump's ascension to the White House is expected to play havoc with Canadian defense policy, putting heavy pressure on the Trudeau government to increase Canada's modest military spending. https://tgam.ca/2g0J64D

** Vancouver is planning to add a hefty new tax to homes that aren't principal residences and are left vacant for six or more months, because of the critical housing shortage. https://tgam.ca/2fEPAFT

NATIONAL POST

** TransCanada Corp said on Wednesday it is considering how to pitch President-elect Donald Trump on the benefits of the proposed, and denied, Keystone XL pipeline that would give oilsands crude better access to U.S. markets. http://bit.ly/2g0JTD0

** Despite posting a net loss in the quarter, Birchcliff Energy Ltd announced on Wednesday it would implement a quarterly dividend for its common shareholders in a sign that executives believe fundamentals will improve for the energy industry. http://bit.ly/2g0Hg3Z

 

Britain

The Times

Two former bosses of Rio Tinto Plc have been drawn into the storm over a payment that led to the suspension of another senior executive. http://bit.ly/2eMnMhv

The boss of Sainsbury has warned its leading suppliers, whose "profits are substantially higher than ours," that they should be wary of putting up prices in the wake of Brexit. http://bit.ly/2eMofk4

The Guardian

Toy sales in the U.K. are forecast to soar to a record high of more than 3.3 billion pounds this year, with Christmas gifts accounting for a third, according to industry figures. http://bit.ly/2eMsDzr

Lloyds Banking Group Plc is cutting 665 jobs and closing 49 branches as it continues to cut costs in an attempt to complete its return to the private sector. http://bit.ly/2eMpHme

The Telegraph

Profits at Burberry Group Plc slipped during the first half of the year after the British fashion giant suffered a writedown on the value of its beauty business and charges associated with its turnaround efforts. http://bit.ly/2eMsJa7

The chief executive of Sainsbury's said he was "more confident than ever" in the supermarket's 1.4 billion pounds takeover of Argos despite falling profits and rising concerns that the deal has made the grocer more vulnerable to a lower sterling. http://bit.ly/2eMqK5J

Sky News

A factory worker has died and 22 other people - including police officers and firefighters - were taken to hospital following a gas leak at a Carlsberg brewery. http://bit.ly/2eMqT9h

Sainsbury's has warned the impact of the falling value of the pound means the outlook for its prices is "uncertain." The U.K.'s second largest supermarket chain used its half-year results to say that while it would continue to cut prices, it could not guarantee the era of grocery price deflation would last next year as cost pressures rise.

The Independent

Burberry saw half-year profits slump 24 per cent as the benefits of a weaker pound after Brexit were offset by pain in its wholesale and licensing business. http://ind.pn/2eMoo6V