Frontrunning: February 5

  • U.S. Stocks Set for Sharp Drop at Open (WSJ)
  • Bitcoin Drops 10% as Cryptocurrencies Sink (BBG)
  • A decade after recession, a jump in U.S. states with wage gains (Reuters)
  • Democrats See Campaign Issue in House GOP Memo Alleging Bias (BBG)
  • Trump accuses House intel panel's top Democrat of leaking information (Reuters)
  • How Spiking Bond Yields Could Topple a Stock Market Rally (BBG)
  • Tech Giants Are in No Rush to Spend Overseas Cash (WSJ)
  • Here’s the Trump Tax Loophole Your Accountant Can Blow Wide Open (BBG)
  • Senators Aim to End Budget Impasse With ‘Dreamers’ Bill (WSJ)
  • Warring Conservatives Force May Into New Red Line on Brexit (BBG)
  • Merkel, SPD Push Ahead in Government Talks After Missed Deadline (BBG)
  • House to Consider Releasing Democrats’ Surveillance Memo (WSJ)
  • Broadcom sweetens Qualcomm bid, calling it the final offer (Reuters)
  • The Latest Victim of China’s Great Firewall: Cryptocurrency Websites (WSJ)
  • Dear Jay: High-Powered Advice for the Incoming Fed Chairman (BBG)
  • Japan’s Famed Manufacturing Model Is Facing a Crisis (WSJ)
  • Samsung Heir Lee Freed After Court Suspends Jail Term (BBG)
  • Euro-Area Companies Boost Jobs as Output Nears 12-Year High (BBG)
  • Banks Double Down on Branch Cutbacks (WSJ)
  • Microsoft Says It’s True: Cat Videos Distract Workers (BBG)
  • U.S. consumer protection official puts Equifax probe on ice (Reuters)
  • Erdogan and pope discuss Jerusalem as scuffles break out near Vatican (Reuters)
  • Jury to hear opening statements in Waymo-Uber trial over autonomous car secrets (Reuters)
  • Overnight Media Digest

WSJ

- Broadcom Ltd plans to raise its offer for Qualcomm Inc to around $120 billion, a person familiar with the matter said, a move aimed at increasing pressure on the takeover target in what would be the largest-ever technology deal. on.wsj.com/2nErz4s

- Apple Inc's streaming-music service, introduced in June 2015, has been adding subscribers in the U.S. more rapidly than its older Swedish rival Spotify—a monthly growth rate of 5 percent versus 2 percent—according to people in the record business familiar with figures reported by the two services. on.wsj.com/2nDM3ub

- British wireless giant Vodafone Group Plc said it is in talks to acquire European assets from Liberty Global Plc , John Malone's international cable company. on.wsj.com/2nz6U20

- Center-right candidate Nicos Anastasiades was comfortably re-elected president of Cyprus in a runoff election on Sunday, beating rival Stavros Malas, an independent backed by Communist party AKEL. on.wsj.com/2nEbegc

- The Federal Reserve's unprecedented move to handcuff growth at Wells Fargo & Co sent a message that boards of directors, not just management, will be held accountable when big banks fail to manage risks. on.wsj.com/2nCkEc1

 

FT

The UK’s top banking supervisor has warned against a “bonfire of the regulations” after Brexit, despite Eurosceptics calling for a more competitive regime when Britain leaves the EU.

China’s ecommerce giant JD.com Inc plans to challenge Amazon.com Inc in Europe as early as 2019, aiming to be ubiquitous across the continent within “a few years”, says the company’s chief.

The chief executive of International Airlines Group , which owns British Airways, Heathrow’s biggest single customer, has stepped up its stinging attack on high cost of expansion at the airport, calling for the break-up of Heathrow’s monopoly as a way to cut costs.

 

NYT

- DC Entertainment, the home of Batman, Superman, Wonder Woman and a legion of other heroes, is planning two new graphic novel imprints aimed at younger readers. DC Zoom will feature stories for middle school readers, and DC Ink will focus on young adults. (nyti.ms/2nIiZRz)

- A group of Silicon Valley technologists who were early employees at Facebook Inc and Alphabet Inc's Google are creating a union of concerned experts called the Center for Humane Technology to educate students, parents and teachers about the dangers of technology, including the depression that can come from heavy use of social media. (nyti.ms/2E24D9R)

- Amtrak suffered its third high-profile crash in less than seven weeks early Sunday when a passenger train traveling on the wrong track slammed into a stationary freight train in South Carolina, killing two people and intensifying worries about the safety and reliability of passenger rail service in the United States. (nyti.ms/2nIWXyh)


Britain

The Times

Facebook Inc is close to signing a deal for a new British headquarters at the King's Cross redevelopment in London. The company is finalising outline terms with King’s Cross Central, which is majority-owned by the Australian Super pension fund. bit.ly/2E0cHYu

One of Capita Plc's shareholders, Royal London Asset Management, said it had been privately raising concerns about Capita's weak governance for a number of years and had repeatedly voted against pay deals. bit.ly/2E0e1uq

The Guardian

The collapse of Carillion Plc is expected to trigger a rise in the number of construction companies going bust as subcontractors in its supply chain miss out on payment, a leading accountancy firm has warned. bit.ly/2E1aps8

Pinewood, the film studio behind the James Bond and Star Wars franchises, has expressed interest in building a new site in east London, as the British film industry struggles to accommodate demand for TV and blockbuster shoots. bit.ly/2E2lbOW

The Telegraph

One of Britain's top think tanks has upgraded its growth forecasts for the UK economy, in a move that threatens to deal another blow to widespread predictions that Brexit would deliver a serious shock to Britain. bit.ly/2E2lTf4

Lloyds Banking Group Plc has become the first to announce a ban on customers using credit cards to buy Bitcoin amid fears they could run up huge losses. bit.ly/2E2VvBT

Sky News

Trinity Mirror Plc and Northern & Shell will clinch a 127 million pound deal to sell the Daily Express to the publisher of the Daily Mirror. bit.ly/2DY32l8

The Independent

The Civil Aviation Authority has announced a consultation into airlines' seating policies, following a survey in which 18 per cent of passengers said they had been separated from their travelling companions when they chose not to pay to sit together. ind.pn/2E2mgX0

 

 

 

Comments

Easyp Mon, 02/05/2018 - 08:42 Permalink

And how will Gold do today?  How does it work as a hedge when stocks dropped 2.5% on Friday yet Gold dropped only 1.3%?  I was hoping that Gold might actually be going up in value and not down as a stock correction looms.

Arnold Mon, 02/05/2018 - 09:16 Permalink

- A group of Silicon Valley technologists who were early employees at Facebook Inc and Alphabet Inc's Google are creating a union of concerned experts called the Center for Humane Technology to educate students, parents and teachers about the dangers of technology, including the depression that can come from heavy use of social media. (nyti.ms/2E24D9R)

Close the barn door, Ezekiel.
The horse is gone.
But we still have a cow to milk.