Zero Hedge
0
All posts from Zero Hedge
Zero Hedge in Zero Hedge,

Frontrunning: July 6

  • EU, Japan Strike New Trade Deal (WSJ)
  • EU-Japan deal sends anti-protectionist signal before G20: German minister (Reuters)
  • Republican lawmaker Steve Scalise's condition worsens after June shooting (Reuters)
  • The Flashpoints for World Leaders at G-20 Summit (BBG)
  • Leftist protesters vow to disrupt G20 summit in Hamburg (Reuters)
  • Trump Weighs ‘Pretty Severe Things’ for North Korea Over Launch (BBG)
  • China's Xi urges peaceful resolution to North Korea issue (Reuters)
  • How the June Jobs Report Matters for the Fed (El-Erian)
  • At least 123 Venezuelan soldiers detained since protests - documents (Reuters)
  • Can U.S. defend against North Korea? Not all agree (Reuters)
  • How Long Before the U.S. Is in Range? (WSJ)
  • South Korea's Moon says it is time for North Korea to decide: dialogue or not (Reuters)
  • Qatar Airways aims to start buying American Airlines shares 'soon' (Reuters)
  • States May Shackle AT&T, Comcast on Web Data After U.S. Retreat (BBG)
  • Ships Exporting Iranian Oil Go Dark, Raising Sanctions Red Flags (WSJ)
  • CEO-Worker Pay Ratio Generates Outrage—And Some Insight (WSJ)
  • Finance firms need freedom to choose location after Brexit (Reuters)
  • Amazon and Dish Network: A Match in the Making? (WSJ)
  • These U.S. States Still Haven’t Fully Recovered From Recession (BBG)

 

Overnight Media Digest

WSJ

- The U.S. Food and Drug Administration suspended two clinical trials and a portion of a third testing Merck & Co Inc's Keytruda as a treatment for blood cancer, after more patients receiving the drug died than those receiving other treatments. on.wsj.com/2tjmQIF

- True Religion Apparel Inc filed for Chapter 11 bankruptcy protection after its private equity owner, TowerBrook Capital Partners, struck a deal with lenders on the terms of a debt-for-equity swap that will erase $350 million in debt from the company's books. on.wsj.com/2tMKb6f

- After a pair of last-second launch aborts over two days, the third attempt worked for SpaceX as it launched a large commercial communications satellite into orbit without a hitch. on.wsj.com/2tKNX0q

- Baidu Inc's executive took a ride in one of his company's self-driving prototypes to Baidu's artificial-intelligence developer conference at the National Convention Center. Chinese news organizations and social media commenters quickly pointed out that driverless cars are not allowed to operate on public streets. on.wsj.com/2uMYrJv

- Goldman Sachs Group Inc is seeking to sell a stake in Simon, its web app that sells complex financial products to retail investors and is soliciting investments that would value Simon at about $75 million and lay the groundwork for a spinoff of the business, according to people familiar with the matter. on.wsj.com/2tTqVFk

 

FT

* British payments processor Worldpay Group Plc on Wednesday agreed to be acquired by U.S. rival Vantiv Inc for 9.1 billion pounds ($11.77 billion).

** Volvo Cars said every model from 2019 onwards would have an electric motor, putting electrification at the core of its business.

** Lloyds Banking Group Plc on Wednesday said Andrew Bester, head of commercial bank and a potential successor to Chief Executive Antonio Horta-Osorio, and Simon Davies, who was the legal and strategy officer, would leave the company.

 

NYT

- Volvo Cars said on Wednesday that all the models it introduces from 2019 will be either hybrids or powered solely by batteries. nyti.ms/2tpWEKS

- U.S. President Donald Trump, in a series of denunciations of CNN and a video depicting him wrestling it, is "trying to bully us," said CNN President Jeffrey Zucker. nyti.ms/2sIxY3l

- Emirates and Turkish Airlines said on Wednesday that they were the latest carriers to have been exempted from an American ban on laptops and other electronic devices in the passenger cabins of flights from eight predominantly Muslim countries. nyti.ms/2srOznX

- The Federal Reserve raised interest rates on schedule during the first half of 2017, but its plans for the second half of the year are less clear, according to minutes of the Fed's most recent meeting in June. nyti.ms/2tOyo7E

- Japan's office equipment maker Konica Minolta is preparing to announce a $900 million deal to acquire the American testing company Ambry Genetics, according to two people with knowledge of the discussions. nyti.ms/2sOPuht

 

Britain

The Times

*Volvo AB is to become the first major car maker to produce only electric and hybrid vehicles. The announcement by the Chinese-owned company will set the pace for the transition of the motor industry from the internal combustion engine to battery driven vehicles.(bit.ly/2urH5mc)

*Worldpay Group Plc, Britain's biggest plastic card payments processor, has agreed the terms of a takeover offer from U.S. rival Vantiv Inc to create a global payments giant with a combined market value of more than $20 billion, in a deal that will leave some investors with their fingers burnt. (bit.ly/2trnoLi)

The Guardian

*Companies that paid staff via "contrived" employee benefit trusts have been urged to come forward, after HM Revenue & Customs scored a landmark victory in a tax avoidance case against the former incarnation of Rangers football club. (bit.ly/2srnbX2)

*Sainsbury's has been accused of undermining the Fairtrade movement by experimenting with dropping the ethical mark for its own label tea. A series of shareholders and campaign groups criticised the supermarket group for dropping Fairtrade at its annual meeting in London on Wednesday, in an increasingly fraught exchange with the company's board. (bit.ly/2uM9UZW)

The Telegraph

*Corporate raider Edward Bramson is embarking on his biggest ever fundraising to build up 700 million pound ($905.31 million)war-chest as he sets out on a hunt for another company to target for a shake-up. (bit.ly/2sNIykT)

*Lloyds Banking Group Plc has unveiled a wide-ranging shake-up of its top team as boss Antonio Osorio prepares Britain's biggest mortgage lender for its next strategic plan.(bit.ly/2sOcgG6)

Sky News

*The European Commission has unconditionally approved the 1.9 billion pound takeover of Vauxhall owner Opel by car maker PSA Group. (bit.ly/2tilttX)

*Royal Bank of Scotland is on the brink of a multibillion-pound settlement with U.S. regulators over the mis-selling of toxic mortgage bonds. (bit.ly/2uqPWEy)

The Independent

*An economic index which tracks the health of the UK's dominant services sector fell short of expectations in June, rounding off a hat-trick of disappointing industrial surveys and offering "clear" evidence that the economy is losing momentum ahead of Brexit. (ind.pn/2uotfRs)