Frontrunning: May 15

  • Gazans bury their dead after bloody day of protests (Reuters)
  • U.S. Embassy Move, Bloodshed Add to Friction With Allies (WSJ)
  • Britain calls for investigation into Gaza violence (Reuters)
  • China Data Shows a Hint of Slowdown While Factories Still Hum (BBG)
  • Iran's Zarif meets EU foreign policy chief as Europe tries to save nuclear deal (Reuters)
  • Volcker Rule Rewrite Is Said to Drop Key Trading Burden on Banks (BBG)
  • North Korea Starts to Dismantle Nuclear-Test Site (WSJ)
  • Safety, verification questions hang over North Korea's plan to close nuclear site (Reuters)
  • A World Apart: Charting the Gulf Between Chinese and U.S. Tariffs (WSJ)
  • US, China still 'very far apart' on trade: ambassador Terry Branstad (SCMP)
  • Investors Are Wary as Companies Ramp Up Capital Spending (WSJ)
  • Thomson Reuters to move forex derivatives to Ireland from London due to Brexit (Reuters)
  • How to Lease a $50,000 BMW for Less Than a Subway Pass (BBG)
  • Soros’s Foundation Quits Hungary Under Government Pressure (WSJ)
  • Second Wynn Picasso Yanked From Christie's Sale After Mishap (BBG)
  • Uber Ends Forced Arbitration for Harassment Claims (WSJ)
  • Allianz making plans to wind down Iran business (Reuters)
  • Forget Florida—More Northern Retirees Head to Appalachia (WSJ)
  • Japan's SoftBank to open Saudi Arabian office (Reuters)

Overnight Media Digest


- The United States and China are closing in on a deal that would give China's ZTE Corp a reprieve from potentially crippling U.S. sanctions in exchange for Beijing removing tariffs on billions of dollars of U.S. agricultural products, said people in both countries briefed on the deal.

- Ted Eliopoulos, the investment chief of the California Public Employees' Retirement System, expects to leave his post by the end of the year, the latest in a series of executive exits from the Calpers.

- CBS Corp filed a lawsuit against the Redstones and their family holding company and invoked a little-known provision in the CBS corporate charter that would significantly diluting the voting power that the Redstones have held over CBS for nearly two decades.

- The U.S. Supreme Court opened the door to legal sports betting across the country by invalidating federal prohibitions on such wagers, in a ruling Monday that could mark a groundbreaking shift for sports leagues, fans and casinos.

- Facebook Inc has suspended some 200 applications for suspected misuse of users' information shared on or through Facebook, the company said Monday.

- Fiat Chrysler Automobiles employees believed the auto maker used illegal software in diesel-powered vehicles to cheat on U.S. emissions tests and concealed it from regulators, according to allegations by plaintiffs' lawyers in federal court documents unsealed Monday.



Climate change should be placed “front and centre” of the Bank of England’s mandate so that the central bank can boost green investment, according to a new report from the campaign group Positive Money, published on Tuesday.

British Land Company Plc has lodged a formal planning application for a 4 billion pounds ($5.43 billion) redevelopment of 53 acres in southeast London that will create a new town centre and include 3,000 homes.

U.S. Ambassador Woody Johnson has urged Britain to increase defence spending and push ahead with the F-35 programme, echoing President Donald Trump’s warning that U.S. allies had to become more self-sufficient.



- To alleviate trade tensions, President Donald Trump is considering easing up on a major Chinese telecommunications company, ZTE, in exchange for China agreeing to buy more American products and lifting its own crippling restrictions on American agriculture, people familiar with the deliberations said.

- There seems to be little about the scrappy energy company First Utility, in central England, that would appeal to Royal Dutch Shell Plc, the button-down oil giant.

- Ellen's, the Dallas restaurant that was the target of a boycott by the National Rifle Association earlier this month, donated $15,000 over the weekend to a grass-roots group founded in the wake of the 2012 Sandy Hook Elementary School massacre.

- The World Health Organization on Monday announced a sweeping plan that urges governments around the globe to eliminate the use of trans fats, the industrially produced edible oil that gave birth to margarine, Crisco and other artery-clogging products that have been linked to millions of premature deaths.



** Ten U.S. senators are seeking to place a temporary freeze on American duties against Canadian newsprint, saying the trade dispute needs further study. (

** After half a century under Desmarais-family control, Power Corp of Canada wants investors to know it isn't running out of steam - in fact, it's planning a multibillion-dollar spending spree. (

** H&R real estate investment trust has reached a deal to sell 63 U.S. retail properties for $633 million, slashing its exposure to the retail sector across dozens of American cities. (

** Canada has slipped in its global ranking for innovation, falling back three spots compared to last year as business investment levels slumped, according to a new report. (

** Aurora Cannabis Inc, the hungriest M&A player in the Canadian marijuana space, continued its shopping spree on Monday, announcing plans to acquire rival MedReleaf Corp for an estimated C$3.2 billion ($2.50 billion), all in stock. (



The Times

Officials charged with managing the taxpayers' stake in Royal Bank of Scotland have begun contacting City brokers to gauge interest in a potential share sale, only days after the lender agreed a provisional deal with American prosecutors over the sale of toxic mortgage-backed bonds.

Management at Centrica Plc came under fire at the company's annual meeting on Monday as frustrated shareholders demanded answers about the collapse of the British Gas owner's share price.

The Guardian

Npower owner Innogy has privately told staff it is extremely concerned they will bear the brunt of thousands of job cuts planned as part of a major shake-up of the European energy industry.

The struggling childrenswear and maternity retailer, Mothercare, said it was finalising a comprehensive restructuring and refinancing package to put the business on a stable and sustainable financial footing.

The Telegraph

Transport giant FirstGroup Plc is facing a mounting activist campaign to put itself up for sale in the wake of a failed takeover bid from American private equity firm Apollo Global Management.

Zimbabwe-based gold miner Caledonia is looking to buy out its local partners as it capitalises on a liberalisation of the laws governing the mining sector.

Sky News

William Hill Plc Chairman Roger Devlin has told ministers in a letter that proposed reforms to Fixed-Odds Betting Terminals (FOBTs) could leave it vulnerable to a takeover bid.

Private equity firms including Bowmark Capital, Inflexion and Trilantic Partners are among a pack of potential buyers of James Grant Group, in a 140 million stg ($189.90 million)sale.

The Independent

Uber has poached former Amazon director Jamie Heywood and appointed him its general manager for Northern and Eastern Europe. The new hire will have a host of legal battles to contend with in the role which covers the UK and 11 other countries.

The Work & Pensions and Business select committees, which have been conducting a joint investigation into Carillion , commented upon some of the evidence from Santander , one of the company's banks.