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Frontrunning: November 13

  • Trump, Duterte Strike Up a Friendship, Sidestep Thorny Issues (WSJ)
  • Strong earthquake hits Iraq and Iran, at least 332 killed (Reuters)
  • GE’s New CEO to Focus on Power, Aviation, Health (BBG)
  • GE Slashes Dividend Amid Restructuring (WSJ)
  • Uber board strikes agreement to pave way for SoftBank investment (Reuters)
  • World's Top Tech Giants Amass $1.7 Trillion in Monster Year (BBG)
  • OPEC Boosts 2018 Demand Forecast, Signaling Faster Rebalancing (BBG)
  • The U.S. Yield Curve Is Flattening and Here’s Why It Matters  (BBG)
  • Without Humans, Artificial Intelligence Is Pretty Stupid (WSJ)
  • Surveillance Cameras Made by China Are Hanging All Over the U.S. (WSJ)
  • Think bitcoin's getting expensive? Try Zimbabwe (Reuters)
  • Bitcoin Halts Decline That Wiped $38 Billion From Market Value (BBG)
  • Emirates Airline Orders $15.1 Billion in Boeing 787 Dreamliners (WSJ)
  • Fake News `Nearly Overwhelming,' EU Says as It Weighs Fightback (BBG)
  • Where GOP Bills Make the Tax Code Simpler, and Where They Don’t (WSJ)
  • Citigroup’s Credit-Card Growth Plans Hit a Snag (WSJ)
  • Forget Vanguard, Insurers Now Have Their Own ETFs to Sell (BBG)
  • Russia Rues Trump-Putin Meeting That Got Away (BBG)
  • Why Millennials Crave Cold Coffee (WSJ)
  • Trump Is Shattering His Own Tweet Records (BBG)

Bulletin Headline Summary

WSJ

- General Electric Co's new leader plans to unveil a road map for the conglomerate that will focus on three of its biggest business lines —aviation, power and healthcare — but stops short of a breakup. on.wsj.com/2zEKuBc

- Uber Technologies Inc cleared the way for a multibillion-dollar investment led by SoftBank Group Corp that would transform the corporate structure of the world's most valuable startup and give the ride-hailing company a powerful ally in its battle against global rivals. on.wsj.com/2zFlgm8

- As Republicans move forward on their tax bills this week, part of their pitch is that 9 in 10 Americans would ultimately be able to file returns the size of postcards. While the plans don't make tax filing quite that easy, they do mark a step toward a simpler system. on.wsj.com/2zFb1hA

- Philippines President Rodrigo Duterte meets Monday with U.S. President Donald Trump, carrying with him a longstanding animosity toward the United States that has been tempered by Trump's implicit support of his war on drugs and by U.S. help in crushing Islamic State-backed fighters who occupied a southern city. on.wsj.com/2zFDHY4

- For the first time in four years, year-end bonuses for bankers in 2017 are set to grow over the prior year, according to consulting firm Johnson Associates Inc. Overall, incentive pay is expected to rise by 5 percent to 10 percent, Johnson's survey found. on.wsj.com/2zELCVs

 

FT

* Emirates unveiled a preliminary order worth $15 billion for 40 Boeing Co jets on Sunday, but kept Europe’s Airbus SE waiting for a lifeline order for A380 superjumbos as the Dubai Airshow opened amid worries over tensions in the Middle East.

* Saad Hariri, who announced his resignation as Lebanon’s prime minister on November 4 while in Saudi Arabia, said on Sunday that he was “free” and would return to his country within days.

* Bristol-based start-up Graphcore, a maker of high-performance artificial intelligence computing, has raised $50 million from Silicon Valley venture capital giant Sequoia Capital.

 

NYT

- Uber Technologies Inc completed a deal on Sunday to sell a significant stake of itself to SoftBank Group Corp, a Japanese conglomerate, paving the way for the ride-hailing company to make sweeping governance changes and to go public by 2019. nyti.ms/2huFvOI

- A group of 11 countries, including Japan, Canada and Mexico, announced on Saturday that they had committed to resurrecting a sweeping multinational trade agreement, the Trans-Pacific Partnership, without the United States. nyti.ms/2hyqLyl

- Rodrigo Duterte, president of Philippines, seems to have warmed to the United States and President Trump, who also has a notably provocative style. But the longer-term game for Duterte has been his determination to court China. nyti.ms/2huC8HD

- The Obama administration used the authority of the Affordable Care Act to advance the idea of compensating doctors on the quality of their care, but the Trump administration is siding with doctors — making a series of regulatory changes that slow or shrink some initiatives and let many doctors delay adopting the new system. nyti.ms/2huDuCq

- An earthquake struck the border region of Iran and Iraq on Sunday, killing over 100 people in Iran, the country's National Medical Emergency Service reported, according to the state English-language television news channel, Press TV. nyti.ms/2hyrz6l

 

Canada

THE GLOBE AND MAIL

** Candian Environment Minister Catherine McKenna and her British counterpart, Claire Perry, will launch an international alliance to phase out coal-fired electricity at the Bonn climate summit this week. tgam.ca/2zVGb7i

** A review of a controversial program that placed armed Toronto police officers in some schools is recommending that the practice be scrapped because too many students felt targeted for discrimination. tgam.ca/2ic85S4

** First Nations protesters at a salmon farm off the northern coast of Vancouver Island are vowing to stay, despite court action aimed at forcing them out. tgam.ca/2jlyNLB

NATIONAL POST

** Conflict of Interest and Ethics Commissioner Mary Dawson has opened a formal examination into whether Finance Minister Bill Morneau put himself into a conflict of interest by introducing pension legislation while holding a million shares in the human resources company his family started. bit.ly/2zMN2A6

 

Britain

The Times

* Questions have been raised over the proposed listing of Cabot Credit Management (IPO-CAB.L), Britain's largest debt collector, with some investors saying that its equity could be valued at more than five times what they think it is worth amid concerns about a growing bubble in the credit market. bit.ly/2jiPVS2

* Britain must radically change its approach to research and development because the existing system of tax credits is a waste of money, according to a report by the Institute for Public Policy Research. bit.ly/2jkIxps

The Guardian

* Denise Coates, the billionaire founder and boss of gambling firm Bet365, paid herself 217 million pounds ($284.55 million) last year as her company made a 525 million pounds profit from a record 47 billion pounds of bets.bit.ly/2jlTh6M

* British finance minister Philip Hammond is to receive some crucial evidence about the health of the UK economy this week as he puts the finishing touches to one of the most difficult budgets in recent times. bit.ly/2jnihdP

The Telegraph

* Andy Clarke, the former Asda boss, is becoming non-executive chairman of Spoon Guru, a small technology start-up which allows consumers to search retailers' produce ­according to their specific dietary need. bit.ly/2jneHAJ

* Airbus's troubled A380 airliner will be thrown a lifeline when Gulf carrier Emirates places a multi-billion dollar order for the "superjumbo" jets. The deal will help keep production of the double-decker aircraft running for several years and assist in maintaining supply chains. bit.ly/2jniOMR

Sky News

* Lone Star Funds has hired bankers at Citi, JPMorgan and Numis Securities to oversee an initial public offering of MRH GB, according to Sky News. bit.ly/2jkfWAB

* A number of the London Stock Exchange Group's non-executive directors have begun to privately acknowledge that their tenure will become untenable if Chairman Donald Brydon is forced out of the company in the next few weeks, according to Sky News. bit.ly/2jkptrl

The Independent

* The airline battle for big spenders has intensified, with Emirates launching what it claims to be "game-changing" First Class" – with design inspired by a car maker. ind.pn/2jm63ST