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

Frontrunning: August 15

  • White House Risks a Backfire Over China and North Korea (WSJ)
  • Three More CEOs Turn Their Backs on Trump (BBG)
  • Cities ramp up removal of Confederate statues (Reuters)
  • Moon Vents Korea Frustration by Asserting Right to Veto U.S. War (BBG)
  • Iran says its drones near U.S. vessels are safe, following rules (Reuters)
  • U.S. sanctions hit Russian hopes of a 'Trump bump' for investment (Reuters)
  • China says it will defend interests if U.S. harms trade ties (Reuters)
  • Defaults Increase for ‘Green’ Loans (WSJ)
  • Nuclear Power’s Woes Imperil U.S. National Security, Moniz Says (BBG)
  • Britain asks for interim customs deal with EU, new trade deals post-Brexit (Reuters)
  • The Nordic Bank That Doesn’t Want Corporate Cash (BBG)
  • Profit-Rich Pickups, SUVs May Catch Break in Trump Auto Review (BBG)
  • U.S. hedge funds bearish on FAANG stocks in second-quarter (Reuters)
  • Netflix Co-Founder’s Crazy Plan: Pay $10 a Month, Go to the Movies All You Want (BBG)
  • Asian neighbors protest as Japan PM sends offering to war dead shrine (Reuters)
  • Junk Bonds of the Financial Crisis Were the Decade’s Biggest Winners (BBG)
  • Some Companies Want You to Take a Mental-Health Day (WSJ)


Overnight Media Digest


- U.S. Donald President Trump, under pressure to explicitly denounce hate groups involved in the weekend's deadly racial violence in Virginia, singled out white-nationalist groups by name for condemnation.

- Pandora Media said former Sling TV Chief Executive Roger Lynch will lead the Internet-radio company as it faces an increasingly competitive landscape.

- Merck & Co's Frazier, Intel Corp's Krzanich and Under Armour Inc's Plank resigned from a manufacturing-advisory council to the Trump administration in an apparent protest of the president's failure to quickly condemn the white supremacists in Charlottesville, Virginia.

- North Korea pulled back its threat to attack a United States territory, after days of trading increasingly bellicose rhetoric with President Trump, and hours after China took its toughest steps against Pyongyang to support U.N. sanctions.

- Jana Partners Llc, the activist hedge fund whose investment in Whole Foods Market Inc catalyzed the natural grocer's takeover by Inc has taken a 2 percent stake in meal-kit maker Blue Apron Holdings Inc .

- Warren Buffett's Berkshire Hathaway is getting out of one of America's oldest companies: General Electric Co . Berkshire received most of the shares after the investor lent roughly $3 billion to GE in October 2008 during the depths of the financial crisis.



- Telit Communications said that its chief executive Oozi Cats, who has led the company since 2000, had resigned. Telit, last week, suspended Cats following allegations of links between him and a U.S. fugitive by the name of Uzi Katz who was accused of wire fraud in Boston in 1992.

- Corvex, a U.S. activist hedge fund run by Carl Icahn protégé Keith Meister, has built a $400 million stake in Danone SA. Corvex considers Danone to be undervalued.

- A UK government paper due to be published on Tuesday makes clear that the UK wants to remain in a customs union with the EU for at least the estimated three years of transition after Britain's 2019 exit.

- Pandora Media Inc has named Roger Lynch, the founding chief executive of Sling TV, as its new chief executive. Lynch will replace Tim Westergren, Pandora's cofounder, who left in June as part of a plan to "refocus" the online radio company.



- Three corporate leaders stepped down from a White House advisory group after President Trump equivocated in his initial remarks on racially motivated violence in Charlottesville, Virginia.

- Pandora Media Inc, the struggling internet radio giant, appointed a new chief executive on Monday, after a shake-up in June that installed SiriusXM as an influential new investor.

- In a legal action that will be watched closely in Hollywood, several producers of "The Walking Dead" on Monday sued AMC Entertainment Holdings Inc — the cable network that presents the hit TV series — seeking a greater share of profits.

- Billionaire Beny Steinmetz was detained by the Israeli police on Monday morning for questioning in connection with an investigation into money laundering, obstruction of justice and bribery, officials said.

- The prospect of further regulatory actions against Wells Fargo & Co, whose misdeeds are far-reaching, appear to be diminishing under the Trump administration.



The Times

- The joint heads of the newly merged Standard Life Aberdeen have vowed to continue in their shared role for another ten years. Martin Gilbert insisted that he and Keith Skeoch, his fellow joint chief executive at the fund manager, made a "powerful combo".

- Beny Steinmetz, an Israeli billionaire who has interests in iron ore and diamond mines, has been detained on suspicion of money laundering. Israeli Police said that Steinmetz and four others were being held for allegedly drawing up false contracts and property deals to launder money. The list of suspects includes David Granot, the chairman of Bezeq Israeli Telecommunication Corp.

The Guardian

- Brexit is being blamed for a decline in the number of job vacancies in the City and a drop in applications for key posts compared with last summer. According to headhunters Morgan McKinley there was an 11 percent slide in the number of City jobs in July, compared with a year ago, and a 33cent fall in professionals seeking positions.

- The squeeze on cash-strapped British households is expected to be illustrated this week by official figures to be released by the Office for National Statistics on Tuesday, followed by labour market data the next day which are expected to show wage growth stagnated while unemployment continued to fall. City economists are forecasting that the consumer price index rose at an annual rate of 2.7 percent in July, up from 2.6 percent in June. The figures will

The Telegraph

- A "Japanese fungus" which is resistant to drugs has spread to at least 55 hospitals across the UK, public health officials have warned. National Health Service trusts have been ordered to carry out deep cleans of all affected areas after more than 200 patients were found to be infected or carrying the potentially fatal pathogen.

- J Sainsbury Plc's is shelving making a 130 million pound ($168.42 million) bid for convenience chain Nisa until UK's competition watchdog has ruled on Tesco's 3.7 billion pound ($4.79 billion) takeover of Booker in late October, according to insiders.

Sky News

- British Government will propose a new UK-EU customs union as an interim measure to avoid a "cliff-edge" for manufacturers after Britain leaves the bloc. The proposal is contained in the Government's first "future partnership paper", published on Tuesday by the Department for Exiting the European Union.

- Uber Technologies Inc users will be able to leave drivers a tip via the ride-hailing company's smartphone app - but could also now be charged for keeping cabs waiting. The firm has announced a number of changes aimed at appeasing drivers, including in the UK where it has fought drivers claiming an entitlement to minimum pay and a holiday wage.

The Independent

- Uber has been accused by the Metropolitan Police of failing to report one of its drivers accused of sexually assaulting passengers.