Frontrunning: April 9

  • Russia Points Finger at Israel as Missiles Strike Base in Syria (WSJ)
  • Russian stock indexes, the ruble tumble on U.S. sanctions (Reuters)
  • Deripaska's Rusal Roiled by Sanctions as Aluminum Prices Jump (BBG)
  • Stocks Point Higher as Trade Concerns Ease (WSJ)
  • Appointing New CEO Only Fixes One Crisis at Deutsche Bank (BBG)
  • Tough Questions Zuckerberg Can Expect From Congress (BBG)
  • Xi Takes Center Stage to Defend China's Trade From Trump Barrage (BBG)
  • North Korea confirms that it is willing to talk about denuclearization (WaPo)
  • Older, educated, white voters are shifting from GOP (Reuters)
  • Europe’s Boom Reawakens the Ghost of Crisis Past (WSJ)
  • Britons Back Holding a Vote on May's Brexit Deal (BBG)
  • Saudi Plans Military Base and Nuclear Dump Near Qatar (BBG)
  • China Is Studying Yuan Devaluation as a Tool in Trade Spat (BBG)
  • As GM union faces big job losses, South Koreans turn cold shoulder (Reuters)
  • America’s Virtual Border Wall Is a 1,954-Mile-Long Money Pit (BBG)
  • Meet the Judge Presiding Over the Government’s Case Against AT&T (WSJ)
  • Ryan Fundraising Committee Pulls in $11.1 Million for Midterms (BBG)
  • 'Smile and nod': Latin American leaders brace for tense Trump visit (Reuters)
  • PayPal Makes a Move Toward Traditional Banking (WSJ)
  • Brazil Turns Rightward, Heralding New Chapter for Latin America (WSJ)

Overnight Media Digest

WSJ

- Kinder Morgan Inc threatened to scrap its proposed expansion of the Trans Mountain pipeline if Canada's provincial and federal governments cannot resolve their differences over the project by May 31. on.wsj.com/2qib66O

- Novartis AG said on Monday it agreed to buy U.S.-based clinical-stage gene therapy company AveXis Inc for $8.7 billion. on.wsj.com/2qhZfFz

- Deutsche Bank AG replaced its British chief executive, John Cryan, with the senior German head of its retail bank, a switch that signals a less ambitious future after years of grim financial results and sputtering attempts to regain a spot among global investment-banking powerhouses. on.wsj.com/2qhnvba

- U.S. President Donald Trump warned on Sunday that Syrian President Bashar al-Assad and his two biggest allies could pay a "big price" for a suspected chemical-weapons attack that killed dozens of civilians, raising the prospect that the U.S. could launch a punitive military strike against Mr. Assad. on.wsj.com/2qfc3MU

- China has tightened restrictions on exports to North Korea of items with potential dual use in weapons of mass destruction and conventional arms. on.wsj.com/2qhnlR6

- North Korea has told the U.S. that Kim Jong Un is prepared to discuss the denuclearization of the Korean Peninsula, clearing the way for a summit meeting between the North Korean leader and President Donald Trump, U.S. officials said. on.wsj.com/2qmhfir

 

FT

Deutsche Bank AG has appointed Christian Sewing as new CEO, ousting John Cryan two years before his contract runs out.

Barclays Plc is preparing to split its euro rates trading team because of Brexit and plans to move part of the unit from its main trading floor in London.

The iPhone maker Apple Inc has been assured by Saudi Arabian authorities that the company would not face prosecution for genders mixing in the workplace.

HSBC Holdings Plc is bringing in robots to tackle financial crimes. The bank is planning to integrate the Artificial Intelligence software of Quantexa, a UK-based start-up, to search for suspicious activities.

 

NYT

- After holding an evening conference call, Deutsche Bank's supervisory board said it would replace John Cryan, the chief executive of the bank since 2015, with Christian Sewing, a longtime insider who has been in charge of the bank's wealth management division and its branch network in Germany. nyti.ms/2Hjjefp

- A coalition of more than 20 consumer advocacy groups is expected to file a complaint with federal officials on Monday claiming that YouTube has been violating a children's privacy law. nyti.ms/2qfOlB5

- North Korea has told the United States that its leader, Kim Jong-un, is willing to discuss denuclearization of the Korean Peninsula, administration officials said on Sunday, the first direct confirmation that he intends to participate in an extraordinary meeting with President Donald Trump about his nuclear program. nyti.ms/2uXtBml

- Attorney General Jeff Sessions appointed a U.S. attorney to handle document production for an inquiry into the FBI's handling of the Hillary Clinton email case. nyti.ms/2HivZGY

 

Canada

THE GLOBE AND MAIL
BCE Inc threw itself a party to kick off the official marketing campaign for its fibreoptic internet service in Toronto, as it ramps up the fight for residential customers in Canada's biggest market. tgam.ca/2uY7cW1

Toronto-Dominion Bank has taken unusual steps to discourage some clients from investing in the marijuana sector. The bank is limiting the ways in which its advisers discuss the industry with clients, banning staff from recommending almost all marijuana firms and exchange-traded funds. tgam.ca/2uZXdj2

Toronto-based online-bartering market Bunz Inc is touting Bunz Trading Zone (BTZ) as the first Canadian cryptocurrency to launch to an already-established community, its own members. tgam.ca/2JvBMcN

NATIONAL POST
The Alberta government is prepared to buy a stake of the Trans Mountain pipeline expansion to ensure it gets built, Premier Rachel Notley said about the Kinder Morgan project that may be scrapped entirely unless agreements can be reached by May 31 to resolve uncertainty created by British Columbian government opposition to the project. bit.ly/2uXlczr

 

Britain

The Times

- UK's high street retailers and restaurants are being targeted by short sellers, with almost a third of the total positions on the stock market in the consumer sector, a research by Linklaters has found. bit.ly/2H6pf1m

- Potential successors to Martin Sorrell, the besieged chief executive of WPP Plc, have been identified in preparations for life after the long-serving boss. Internal candidates have attended board meetings as part of the succession planning and are in contention along with a "constantly refined list of external candidates". bit.ly/2H6UM36

The Guardian

- The chairman of the Australian owners of Homebase is flying to the UK for a whistlestop tour of its stores this week as the future of the struggling DIY chain hangs in the balance. The Wesfarmers Ltd chairman, Michael Chaney, is being accompanied on store visits by the retail turnaround expert Archie Norman. bit.ly/2H9T6Wz

The Telegraph

- Deutsche Bank AG has ousted John Cryan and promoted Christian Sewing to chief executive following boardroom clashes over the lender's struggling turnaround effort. bit.ly/2H8YQQg

- Former BHS owner Dominic ­Chappell plans to sue Philip Green and contest a proposed boardroom ban in a bid to repair his "tarnished ­reputation" and resurrect his career. bit.ly/2H82nhM

Sky News

- Moya Greene, the chief executive of Royal Mail Plc , is preparing to step down after an eventful eight-year tenure. bit.ly/2H3iWeO

- Barclays Plc is preparing to look for a successor to chairman John McFarlane, paving the ‎way for the third change at the top of Britain's second-largest bank since 2012. bit.ly/2H6qVYI

The Independent

- UK economic growth will lag behind all other G7 advanced nations this year, the world's biggest financial firms have warned. ind.pn/2H2OMZh

- The number of buy-to-let investors in UK rose to a record high of 2.5 million in the latest tax year, new research by London-focused estate agent Ludlow Thompson shows. ind.pn/2H6Zfmo

Comments

Arnold Mon, 04/09/2018 - 08:38 Permalink

From Drudge.

He’s heading fundraising for the organization, set up by former President Barack Obama, former Attorney General Eric Holder and House Minority Leader Nancy Pelosi to catch up with Republicans on the slicing and dicing at state Capitols that decides congressional boundaries.

Perhaps mindful of his role as one of Bill Clinton’s high-decibel defenders during the president’s 1998 impeachment, McAuliffe wouldn’t say whether he believes Democrats should seek to remove Trump if they win the House in November.

http://www.richmond.com/news/virginia/government-politics/jeff-schapiro

vaporland Arnold Mon, 04/09/2018 - 09:25 Permalink

he sucked as governor, gave away the keys to the candy store to his corporate backers, in particular Dominion Energy. also allowed construction of a gas pipeline that does not actually bring gas to virginia (its primarily for export) even though virginia electric ratepayers are footing the bill.

i'm not against pipelines, i'm against corporate free rides on the taxpayers' dime.

plus pushing loosening of voter registration controls. when I voted in Richmond in 2016 the poll weasel that took my ballot to be scanned made sure to read it first.

mcauliffe's hand picked candidate for mayor, levar stoney, was behind by several thousand votes in most city districts until the absentee ballots were counted, after which he miraculously pulled ahead of the pro-business candidate by 4000+ votes

they are funneling stoney to be the next obama, mayor, governor, president. he's a puppet and a tool.

you better hope not...

In reply to by Arnold

Dilluminati Mon, 04/09/2018 - 08:38 Permalink

http://news.trust.org/item/20180409102158-9kcpc

Hungarian PM could target Soros organisations right after election win

* Results showed Fidesz winning 133 of 199 seats

* Orban campaigned on anti-immigrant message

* Could use new powers to crack down on foreign NGOs

* Fidesz could pass "Stop Soros" law in May -spokesman

* New law could empower govt to ban certain NGOs

and..

Soros backed group manipulates Parkland students for a march

http://catholicsforamerica.org/soros-backed-group-manipulates-parkland-…

Arnold Mon, 04/09/2018 - 08:45 Permalink

PayPal Makes a Move Toward Traditional Banking (WSJ)
Could not get past the gate keeper.

While Facebook, Amazon or Google are unlikely to open a banking division in the immediate future, the impact that such companies are having on the industry is beginning to show.

https://www.worldfinance.com/banking/non-bank-financial-institutions-ar…

Tentacles into Healthcare as well.

http://www.latimes.com/business/la-fi-amazon-health-care-20180130-story…

tunetopper Mon, 04/09/2018 - 09:27 Permalink

Section 301 tariffs
News shows are way way behind the facts and events actually happening- when this happens the "TelePrompTer readers" are showing their own ignorance.
SOFR ( the new secured repo index) is not working correctly - because it's not supposed to cause an inverted yield curve- it's supposed to anchor the front end lower. Stay tuned!