Frontrunning: May 8

  • Trump to announce decision on Iran nuke deal (Reuters)
  • U.S. Allies Brace for Trump to Exit From Iran Nuclear Deal (WSJ)
  • Iran seeks constructive global relations (Reuters)
  • More Pain Ahead for U.S. Drivers? (BBG)
  • Trump, Republicans Raise Alarms About West Virginia Primary Race (BBG)
  • Powell Says Emerging Markets Equipped to Navigate Turbulence (BBG)
  • New York Attorney General Resigns After Abuse Claims (BBG)
  • China’s Xi Meets Kim Jong Un for Second Time in Two Months (BBG)
  • Valeant Pharmaceuticals to Change Its Name to Bausch Health (WSJ)
  • Five Star Fires Starting Gun for New Italian Elections (BBG)
  • Reimposing Iran Oil Sanctions May Spell Trouble for Turkish Lira (BBG)
  • Japan's Takeda clinches $62 billion Shire deal as pharma M&A rolls on (Reuters)
  • NYSE Owner ICE Is Said to Be Working on Bitcoin Trading Platform (BBG)
  • Goldman, Wells Fargo Look to Credit Cards for Bigger Returns (BBG)
  • China's Exports Climb, Imports Jump on Solid Global Demand (BBG)
  • A Fix Everyone Loves to Hate for the $4 Trillion Retirement Savings Gap (BBG)
  • European regulators: We're not ready for new privacy law (Reuters)
  • Victims of Japan's forced sterilizations demand justice after decades of silence (Reuters)
  • The 50 Richest Zip Codes in the U.S. Northeast (BBG)

Overnight Media Digest


- Snap Inc Chief Financial Officer Drew Vollero is stepping down, leaving the social-media company that has struggled since he helped take it public last year, the company said in a securities filing.

- Activist investor Elliott Management Corp is pushing to take Athenahealth Inc private, arguing the health-care software company is botching an opportunity to expand and, as a result, isn't providing adequate returns to shareholders.

- Egypt's parliament passed legislation Monday requiring ride-hailing apps such as Uber to hand over passenger data when requested by the country's security agencies, raising concerns about consumer privacy and state surveillance.

- Starbucks Corp is betting its future on its coffee shops. The Seattle-based company has removed a distraction by selling the rights to offer its coffee and tea in grocery and retail stores to Nestlé SA for more than $7 billion.



The Department for International Trade is set to axe hundreds of officials who promote British exports to countries such as China and Brazil because of a budget squeeze which has pitted trade secretary Liam Fox against the Treasury.

Team17, one of the UK’s most successful independent video game labels is selling a 50-percent stake on London’s Aim in a listing expected to value it at about 200 million pounds ($271.48 million).

The owner of Clydesdale and Yorkshire Bank, CYBG Plc , made an all-share takeover approach for rival Virgin Money on Monday that values it at just over 1.6 billion pounds



- The U.S. Environmental Protection Agency had a total of 33 threat investigations underway as of mid-March - 10 of them involving Scott Pruitt from the last six months, a security assessment released Monday shows, offering the most detailed tally yet of threats against the agency's top official.

- on Monday rolled out its "self-driving vehicle" in the city of Frisco, Texas. It was the first new rollout of autonomous cars in the United States since a pedestrian died in Arizona in March after a self-driving car operated by Uber technologies Inc hit her.

- The Phnom Penh Post, a newspaper widely seen as the last bastion of a free press in Cambodia, has been sold to a Malaysian investor with ties to Cambodia's prime minister, a move that critics say further highlights the country's slide toward outright authoritarianism.



** The Ontario Liberal government is reversing a contentious piece of its new employment legislation around calculating public holiday pay, which business owners argued was both costly and flawed.

** Valeant Pharmaceuticals International Inc plans to change its name to Bausch Health Cos, as management takes another step toward remaking the company and distancing it from past controversies.

** A Toronto-area police force is investigating an apparent leak after confidential police documents about an aborted drug arrest were used to try to discredit a man vying to be a candidate for the Ontario Progressive Conservatives.

** The Canadian Radio-television and Telecommunications Commission has concluded that payphone lines are not an essential service in a country where most people own cellphones.



The Times

Defence officials warned the government that backing a European ban on palm oil could jeopardise a deal to sell British-built fighter jets to Malaysia, documents have revealed.

City dealmakers are on track to rake in their biggest fees since the financial crisis after billing more than half a billion dollars since the start of January.

The Guardian

The BBC, Channel 4 and ITV have held discussions about joining forces to create a British streaming service to combat the increasing power of Netflix Inc and Inc in the UK.

Britain's manufacturers have called on the government to make faster progress on its industrial strategy to help address a slump in productivity in key sectors.

The Telegraph

Virgin Money is mulling a proposed takeover bid from the owner of Clydesdale Bank and Yorkshire Bank which would value the challenger bank at 1.6 billion pounds ($2.17 billion).

Team17, the British company behind the classic video game series Worms, has plans for a float which could value the company at 230 million pounds.

Sky News

Paragon Banking Group has begun exclusive negotiations to buy Titlestone Property Finance from the giant private equity firm Oaktree.

BT Group Plc has sparked a legal fight with ministers over pension reforms which it claims have increased the burden of one of the biggest retirement scheme liabilities in corporate Britain.

The Independent

More than 100 flights between the UK and Italy were cancelled on Tuesday ahead of a strike by air-traffic controllers and ground staff.