Frontrunning: February 1

  • Republican memo likely to be released Thursday -Trump administration official (Reuters)
  • Ex-Trump Aide Page Was on U.S. Counterintelligence Radar for Years (WSJ)
  • FBI Knew of Clinton Emails Weeks Before Alerting Congress (WSJ)
  • Facebook Reversal Lifts Markets, Though FAANG Jitters Linger (BBG)
  • How trade disputes could hurt U.S. pork exports (Reuters)
  • Dollar weakens after Fed bounce proves short-lived (Reuters)
  • Bitcoin skids to lowest since November after worst month in three years (Reuters)
  • Worries Grow That the Price of Bitcoin Is Being Propped Up (NYT)
  • How GE Went From American Icon to Astonishing Mess (BBG)
  • Deluge of Influenza Patients Forces Hospitals to Creatively Cope (WSJ)
  • A $1.5 Trillion Question in Trump’s Public Works Plan: Who Pays?  (BBG)
  • Insurers gingerly test bitcoin business with heist policies (Reuters)
  • Bored With Banking, This Former Citi Trader Went Full Crypto (BBG)
  • U.S. says military option not believed to be close for solving North Korea crisis (Reuters)
  • How J.D. Power Was Acquired by a Chinese Company Shrouded in Mystery (WSJ)
  • A Bitcoin Conference Rented a Miami Strip Club—And Regretted It (BBG)
  • Capitec Report: Was There Insider Trading? (Huffpost)

Overnight Media Digest

WSJ

- UK Prime Minister Theresa May arrived in Beijing on Wednesday to beat the drum for deepening trade ties and showcase her country's global ambitions, a visit clouded by simmering discord at home over her handling of Brexit negotiations. on.wsj.com/2no6mvJ

- Pandora Media Inc will lay off 5 percent of its workforce as the internet radio company tries to rein in costs while investing in advertising technology and efforts to woo back listeners. on.wsj.com/2nqrxgK

- German media giant Bertelsmann SE on Wednesday announced it is seeking to unload one of its largest businesses which has struggled to grow in a full or partial sale. on.wsj.com/2nqiPyK

- The FBI publicly urged U.S. President Donald Trump not to release a classified memo, escalating a simmering dispute over Republican allegations of improper surveillance in the probe examining whether Russia interfered in the 2016 election. on.wsj.com/2nnHSTq

- Qualcomm Inc said Wednesday that it had reached a multiyear deal with Samsung Electronics Co Ltd that covers various areas including mobile devices. on.wsj.com/2npLe8i

- Federal Reserve Chairwoman Janet Yellen concluded her final policy meeting Wednesday by holding interest rates steady and leaving it to her successor to decide whether to lift them more quickly to prevent the economy from overheating. on.wsj.com/2nriYSH

 

FT

- European Union banks will face the toughest “stress test” of their ability to withstand theoretical shocks this year, including the impact of Britain’s exit from the bloc, the EU’s banking watchdog said on Wednesday.

- Brenda Fitzgerald, head of the leading U.S. public health agency, has resigned because of financial conflicts of interest that documents showed included purchases of tobacco and healthcare stocks while in office.

- Britain’s government said on Wednesday it would hand over to parliament a leaked report that suggested Brexit would hurt the economy, trying to deflect accusations that ministers are badly prepared for leaving the European Union.

 

NYT

- Uber Technologies Inc will let certain users in San Francisco reserve pedal-assist electric bicycles through its app, with the idea that people will see the bicycles as a cheaper and faster alternative. (nyti.ms/2DRbkr7)

- Xerox Corp on Wednesday said that it would combine operations with Fujifilm Holdings Corp of Japan. Under the deal, Fujifilm will own just over 50 percent of the Xerox business and Xerox will become part of an existing Fuji Xerox joint venture. (nyti.ms/2DRcNxD)

- The U.S. Environmental Protection Agency Administrator Scott Pruitt on Wednesday filed the legal documents required to suspend the 2015 Waters of the United States rule for two years, while it works to repeal and replace the Obama-era clean water regulation. (nyti.ms/2E1Sv7Y)

- German carmakers BMW and Daimler AG on Wednesday said that they had taken action against executives involved in an organization that sponsored emissions experiments on monkeys, as the companies tried to squelch a public outcry that threatens to tarnish the image of Germany's most important exports. (nyti.ms/2nuVI5y)

 

Canada

THE GLOBE AND MAIL

** A labour arbitrator has overturned the firing of a Canadian Pacific Railway Ltd conductor involved in the collision of two trains in midtown Toronto in 2016, saying the man's culpability was mitigated by the company's failure to provide adequate experience. tgam.ca/2BJdcQD

** Statistics Canada reported that the country's November real gross domestic product grew 0.4 percent month over month, the biggest one-month rise since May. tgam.ca/2BIG3ER

NATIONAL POST
** Boeing Co's chief executive Dennis Muilenburg said the company is continuing discussions about a potential tie-up with Embraer SA, a deal some analysts say is more likely after a top U.S. trade body unexpectedly voted against the American aerospace company last week. bit.ly/2BIXm8w

** Aleksandr Abramov, non-executive chairman of Evraz Plc and Aleksandr Frolov, its CEO, are among people named in a list of wealthy Russians close to the Kremlin published by the United States. bit.ly/2BHmhtb

 

Britain