Frontrunning: May 16

  • Trump Says He Has ‘Absolute Right’ to Share Terrorism Facts with Russia (WSJ)
  • Russia's response: don't read U.S. newspapers (Reuters)
  • How the Democrats Are Trying to Beat Back Trump (BBG)
  • Trump to Join Pence in Disclosing 2016 Financial Information (BBG)
  • Clue in Ransomware Cyberattack Points to a Group Linked to North Korea (WSJ)
  • BOJ Chief: Unwinding Stimulus Won’t Bring Turmoil (WSJ)
  • In travel ban case, U.S. judges focus on discrimination, Trump's powers (Reuters)
  • China Pumps $24.7 Billion Into Financial System (WSJ)
  • Ford to cut North America, Asia salaried workers by 10 percent (Reuters)
  • Putin Is Playing the Melting Arctic for Everything It's Worth (BBG)
  • Not so fast: EU court ensures 32 vetoes on Brexit trade (Reuters)
  • Moves to Ease Gun-Carrying Restrictions Expand  (WSJ)
  • Syrian government denies U.S. accusation of crematorium at prison (Reuters)
  • This Secretive Dealmaker Bets Wall Street Is Wrong on Retail (BBG)
  • 25 Million Americans Could Find Mortgage Tax Break Useless Under Trump’s Plan (BBG)
  • Wall Street Thinks Trump’s All Talk When It Comes to Breaking Up Banks (BBG)
  • Cruises Boom as Millions of Chinese Take to the Seas (BBG)
  • Why Wal-Mart Frets About a Discount German Grocer (WSJ)
  • Israel wants White House to explain U.S. official's Western Wall comment (Reuters)


Overnight Media Digest


- A federal judge gave Alphabet's driverless-car unit Waymo broad leeway to seek and examine evidence from Uber in a three-month-old lawsuit that accuses the ride-hailing firm of conspiring with a former Waymo executive to steal 14,000 files related to its autonomous-vehicle program.

- The owner of the Chicago Tribune, Tronc Inc, is trying to buy its one-time biggest rival, the Sun-Times, months after a deal with Gannett Co fell through. If no other bidder comes forward, the deal could close as soon as June 1, Tronc said.

- Ford Motor aims to cut about 10 percent of its global workforce amid Chief Executive Officer Mark Fields's drive to boost profits and the auto maker's sliding stock price. The job cuts are expected to be outlined as early as this week and will largely target salaried employees.

- President Donald Trump shared sensitive intelligence obtained from a close U.S. ally with Russia's foreign minister and ambassador in a meeting last week, according to U.S. officials.

- Home sales in the first quarter hit their fastest pace in a decade. Total existing-home sales climbed 1.4 percent in the quarter to a seasonally adjusted annual rate of 5.62 million, the highest since the first quarter of 2007, according to the National Association of Realtors.



Chevron Corp investors have withdrawn a shareholder proposal calling for the oil group to report regularly on the risks it faces from policies to address climate change, after the company published an analysis of the issue.

Activist hedge fund investor Jeffrey Ubben is handing over the reins of his $16 billion ValueAct Capital Management LP hedge fund by promoting his long-time business partner Mason Morfit to the position of chief investment officer.

A judge in San Francisco has banned the top engineer on Uber Technologies Inc's self-driving car programme from any work on a type of laser sensor known as Lidar.

American International Group Inc named an insurance industry veteran Brian Duperreault as its new chief executive officer and signalled it would seek to expand the group after years of shrinkage in the wake of its government rescue during the financial crisis.



- President Trump boasted about highly classified intelligence in a meeting with the Russian foreign minister and ambassador last week, providing details that could expose the source of the information and the manner in which it was collected, a current and a former American government official said Monday.

- The Trump administration said on Monday it would vastly expand the so-called global gag rule that withholds American aid from health organizations worldwide that provide or even discuss abortion in family planning. The new policy could disrupt hundreds of clinics in Africa and around the world that fight AIDS and malaria.

- Indicators are far from conclusive, but intelligence officials and private security experts say that North Korean-linked hackers are likely suspects in global ransomware attacks.

- Uber Technologies Inc, the ride-hailing company, sidestepped a full shutdown of its self-driving car efforts on Monday when a federal judge stopped short of issuing a temporary injunction against the program.

- A whistle-blower, a former well-placed official at UnitedHealth Group Inc, asserts that big insurance companies have been systematically bilking Medicare Advantage for years, reaping billions of taxpayer dollars from the program by gaming the payment system.

- With oil markets flagging, the world's two biggest oil exporters agreed on Monday to extend production cuts for several months, sending the price of crude soaring.



The Times

- NHS Digital has accused hospital bosses of ignoring its warnings to keep their IT systems secure from ransomware attacks, fuelling a row over who was to blame.

- Shares in international cybersecurity companies rallied yesterday, with investors betting that Friday's ransomware cyberattack that hit the NHS and organisations in 150 countries would deliver them a payday.

The Guardian

- TV celebrity Noel Edmonds has accused Lloyds Banking Group Plc of "foot dragging" over compensation payouts to himself and other victims of the HBOS Reading fraud.

- US bank JP Morgan Chase & Co is buying a landmark office building in Dublin in a significant boost for the Irish capital as European cities compete to lure financial institutions away from London in the wake of the Brexit vote.

The Telegraph

- Eve, the online mattress company with a 140 million pounds ($180.59 million)valuation, tapped City star fund manager Neil Woodford for an extra 5 million pounds ($6.45 million)to support the business.

- UK accountancy firm Ernst & Young's latest attractiveness index has ranked the UK market in the top ten countries globally for new investment - but the advisory firm said the move up from 14th place last year follows major blows in other countries, rather than progress in UK.

Sky News

- Virgin Money Holdings Plc has walked away from a potential takeover of the Co-Operative Bank Plc as the struggling lender prioritises talks with a group of hedge funds about a financial restructuring.

- Travel operator TUI AG said UK was facing tougher times ahead as it reported a slowdown in the growth of sales to British holidaymakers.

The Independent

- According to a report published by insurance company Aviva Plc on Tuesday, millions of people in UK have gone to work when they were ill instead of taking the day off, driven by heavy workloads and employers promoting a culture of face-time.



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