Frontrunning: February 14

  • Stocks Gain, Treasuries Steady Before Key Inflation Data (BBG)
  • AT&T Targets DOJ Antitrust Chief in Time Warner Fight (WSJ)
  • German SPD leader invokes Europe to sell coalition deal with Merkel (Reuters)
  • Why Today Could Be Huge for the VIX (BBG)
  • South African police raid Gupta home, ANC to sack Zuma via parliament (Reuters)
  • An Uber Driver’s Investment Tip Confirmed Paul Britton’s Doubts on XIV (BBG)
  • Short Sellers’ Favorite Stock Bets Backfire (BBG)
  • Chipotle Picks Taco Bell CEO Brian Niccol to Be Its New Chief (WSJ)
  • Walmart goes to the cloud to close gap with Amazon (Reuters)
  • Kelly’s Handling of Ex-Trump Aide Scrutinized After FBI Account (BBG)
  • GOP Split in Senate Primary Fights, Even Without Bannon (WSJ)
  • For one U.S. immigrant family, short-term public aid meant long-term security (Reuters)
  • Here’s How Many Model 3s Tesla Is Really Making (BBG)
  • Hungary submits anti-immigration 'Stop Soros' bill to parliament (Reuters)
  • Sponsor An Immigrant Yourself (Politico)
  • Netflix Hoards TV Talent in $300 Million Deal for ‘Glee’ Creator (BBG)
  • Netflix Signs Producer Ryan Murphy to Multimillion-Dollar Deal (WSJ)
  • UK tells charities: no more cash if you don't come clean on abuse (Reuters)
  • Zuma Calls South African ANC’s Push for Him to Resign ‘Unfair’ (BBG)
  • As DACA Deadline Looms, Young Immigrants Plan for the Unknown (WSJ)
  • Physical oil market sends warning to OPEC: Rout might not be over (Reuters)
  • Influence Game: Bezos Comes to Washington (BBG)
  • South Korea union says GM plant closure is 'death sentence', threatens strike (Reuters)
  • European Banks Have a $1.2 Trillion Bad-Loan Problem (BBG)

Overnight Media Digest

WSJ

- Chipotle Mexican Grill Inc on Tuesday named Taco Bell Chief Executive Brian Niccol as its next chief executive, tapping a fast-food veteran to try to revive the struggling burrito chain. on.wsj.com/2HfgSgS

- Walmart Inc is cutting some store management jobs as it works to keep labor costs low while investing in higher wages and e-commerce efforts to fend off Amazon.com Inc . on.wsj.com/2stZXUK

- Barnes & Noble Inc is laying off a significant number of workers, including experienced cashiers and staffers who sell the retailer's Nook e-readers and tablets, as a result of poor holiday-season results. on.wsj.com/2nVg09u

- PepsiCo Inc hasn't decided how much overseas cash it will repatriate as the food and beverage giant considers the still-evolving implications of the recent tax overhaul, said Chief Financial Officer Hugh Johnston. on.wsj.com/2BVFdsM

- A second federal judge has ordered the Trump administration to temporarily restore Deferred Action for Childhood Arrivals program, or DACA, an Obama-era program that gives protections to hundreds of thousands of undocumented immigrants who entered the United States as children. on.wsj.com/2EHXUS0

- The November mid-term elections are vulnerable to the Russian interference that plagued the 2016 presidential election, the Trump administration's top intelligence official Dan Coats said Tuesday. on.wsj.com/2F3m2w8

 

FT

Sky Plc and BT Group Plc won the right to continue screening games but the Premier League were forced to take the unusual step of holding back some matches, saying that bidding for them was continuing.

MetLife Inc failed to make hundreds of millions of dollars worth of pension payments to about 13,500 people over 25 years, the insurer acknowledged on Tuesday. The missing payouts came to almost $20,000 per head on average.

The full detail of how Royal Bank of Scotland Group Plc systematically mistreated thousands of small business clients and caused financial distress to many of them after the 2008 banking crisis are chronicled in a 361-page report by Promontory, a financial consultancy commissioned by a UK regulator four years ago.

 

NYT

- U.S. President Trump suggested on Tuesday that the United States was likely to impose restrictions on imported metals, reviving the prospects for a continuing investigation whose future has been called into question amid months of pushback and delays. nyti.ms/2HfRB6y

- On Tuesday night, Netflix Inc announced it had poached producer Ryan Murphy from Twenty-First Century Fox Inc for a five-year deal. The deal is worth as much as $300 million, according to two people with knowledge of the deal, who spoke on the condition of anonymity to discuss private negotiations. nyti.ms/2BsCiH2

- Brian Niccol, the chief executive of Taco Bell, will replace Chipotle Mexican Grill Inc's founder, Steve Ells, as chief executive on March 5, Chipotle said on Tuesday. nyti.ms/2BYY8TK

- Uber Technologies Inc said it lost $1.1 billion in the last three months of 2017 on revenue of $11.05 billion — results that reflect a steady improvement in the company's financial position, with revenues growing and losses narrowing. In the preceding quarter, Uber lost $1.46 billion on revenue of $9.7 billion. nyti.ms/2EDo5ZN

 

 

Britain

The Times

* Britain's statistics agency, the ONS, said it was changing its schedule for the release of labour market data to give lawmakers more time to understand the politically sensitive jobs figures ahead of parliamentary sessions when lawmakers can question ministers. bit.ly/2EqjLOl

* British inflation unexpectedly held close to its highest level in nearly six years in January, increasing the chance of another rise in interest rates within months. bit.ly/2EqxK6P

The Guardian

* Low-cost airline Norwegian is planning further expansion of its long-haul flight network with London Gatwick as its major global base, and more routes to Latin America and Asia. bit.ly/2EoCTMw

* British lawmakers have accused the "big four" accountancy firms of "feasting on what was soon to become a carcass" as it emerged they banked 72 million pounds ($100 million) for work linked to collapsed government contractor Carillion in the years leading up to its financial failure. bit.ly/2Et5HDO

The Telegraph

* The funding crisis in the NHS has led to cutbacks on vital clinical trials conducted with drug companies on new medicines, according to a report in research policy magazine Research Fortnight. bit.ly/2Epoa3V

* Crusader Resources, which is listed in Australia, wants to raise up to 11 million pounds by floating in London. bit.ly/2EoXuAh

Sky News

* Therium Capital Management, a specialist litigation funder, has agreed to back the ‎claim of hundreds of sub-postmasters for a class action lawsuit against the state-owned Post Office following an IT fiasco which left them accused of false accounting or theft. bit.ly/2EpCF7Z

* Network Rail is planning to deliver a 15 percent reduction in delayed trains under a 47 billion pound five-year plan, but has made no fresh promises of major projects. bit.ly/2Ep7E41

The Independent

* London's regulators are unprepared for the introduction of autonomous vehicles, delivery by drone and demand-responsive buses, the transport committee of the London Assembly said in a report. ind.pn/2ErQxih

* Reusing food packaging, like recycling paper cups, is one of the most effective steps towards a more sustainable future, the chief executive of Carlsberg said. ind.pn/2EmLE9U