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Frontrunning: July 19

  • Republicans consider bipartisan healthcare talks (Reuters)
  • Health Care Collapse Could Leave Trump Winless in His First Year (BBG)
  • Republicans to Push Ahead on Repeal of Affordable Care Act (WSJ)
  • Obscure Coal CEO Rains Money on Trump While Outflanking Rivals (BBG)
  • GOP Tries to Regroup on Obamacare Repeal as Trump Lashes Out (BBG)
  • Insurers start to press on subsidies (Reuters)
  • Russian lawyer who met Trump Jr. says ready to testify to Congress (Reuters)
  • Discovery, Scripps Networks in Cable-TV Merger Talks (WSJ)
  • Robots Take Over Retail Jobs (WSJ)
  • Saudi King’s Son Plotted Effort to Oust His Rival (NYT)
  • France's armed forces chief resigns after clash with Macron over budget cuts (Reuters)
  • The Manhattan of Venezuela Parties Amid Crisis (BBG)
  • Germany summons Turkish ambassador to protest arrests of activists (Reuters)
  • Where’s the Volatility? Markets’ Steady Climb Defies Historic Odds (WSJ)
  • Campaign urges U.S. public pension funds to divest from owner of Trump hotel (Reuters)
  • Akzo Nobel Chief Quits Over Health (WSJ)
  • The Man Who Got Americans to Eat Trash Fish Is Now a Billionaire (BBG)
  • Morgan Stanley's profit boosted by underwriting, wealth management (Reuters)
  • Wall Street Efforts to Improve Its Image Fail to Sway Americans (BBG)


Overnight Media Digest


- U.S. President Donald Trump and Russian President Vladimir Putin held a second, previously undisclosed talk on the sidelines of the G-20 summit in Hamburg earlier this month, a White House official said.

- Discovery Communications Inc is in talks to combine with Scripps Networks Interactive Inc, people familiar with the situation said, a deal that would unite two media companies trying to chart a course in a cable-TV industry being upended by digital consumption.

- China's already formidable internet censors have demonstrated a new strength - the ability to delete images in one-on-one chats as they are being transmitted, making them disappear before receivers see them.

- Daimler said it would tweak the engine software on more than three million diesel vehicles to improve emissions amid probes in the U.S. and Europe into allegations that the maker of Mercedes-Benz cars cheated on emissions.

- Chipotle Mexican Grill Inc said it temporarily closed a restaurant in Sterling, Virginia, on Monday after learning about a "small number" of reported illnesses that the company believes are likely to be from norovirus, a common virus that can be spread through food that has been handled by people who are sick.

- The Trump administration said it was prepared to impose "strong and swift" economic sanctions on Venezuela, including banning its crude oil exports to the U.S., if its president proceeds with a plan to rewrite the constitution.

- Crown Castle International Corp has reached an agreement to buy LTS Group Holdings LLC in a roughly $7.1 billion deal that would double its fiber-optic footprint and add key Northeast metropolitan markets.



McCormick & Company Inc, the US maker of spices, herbs and flavourings, has agreed to buy the foods business of UK consumer goods company Reckitt Benckiser Group Plc for more than $4 billion.

It will be illegal from next year to charge customers in the UK a fee to use a credit card, the government said. The government said such fees, which can be as high as 20 per cent, would be banned from January.

Wireless infrastructure provider Crown Castle International Corp said on Tuesday it would pay $7.1 billion to acquire privately held Lightower, in a deal expected to greatly expand its fibre holdings in major U.S. cities.

Frankfurt's public prosecutor is ready to drop its investigation into Carsten Kengeter, the Deutsche Boerse AG chief executive, over allegations of insider trading if the exchange agrees to fines totalling more than 10 million euros.



- Tim Pierotti, who once ran a consumer hedge fund for Martin Shkreli, testified that Shkreli threatened him and his family. Pierotti's testimony is at the center of one of eight fraud charges against Shkreli.

- Facebook's WhatsApp, was partly blocked by Chinese filters, leaving many unable to send videos and photos and some also unable to send text-based messages.

- German automaker Daimler said it would update three million Mercedes cars in Europe to reduce their diesel emissions. It said the measures would be rolled out in the coming weeks and would cost about 220 million euros.

- In a lawsuit, Uber has been accused of discriminating against New York City riders with disabilities by providing scant access to wheelchair-accessible cars at a time when ride-hailing apps are becoming a common alternative to public transit in the city.



The Globe and Mail

** Provincial authorities issued a work permit for a controversial mining project near Williams Lake. The permit authorizes Taseko Mines Ltd to conduct exploration work at the site of the proposed Prosperity Mine, a copper-gold project that has twice failed to obtain necessary federal approvals to proceed. (

** The takeover of Tembec Inc by Rayonier Advanced Materials Inc has been thrown into doubt as major shareholders of Tembec voice their opposition to the friendly $807 million deal. (

** A wind-turbine-blade factory controlled by German Siemens AG is winding down operations, leaving 340 employees in Tillsonburg, Ontario, without work by early next year. (

National Post

** Canada Jetlines Ltd a start-up airline hoping to bring affordable fares to Canadians, has set its sights on launching an ultra-low-cost carrier next summer under the leadership of a new chief executive. (



The Times

Twenty-First Century Fox Inc has written to the government urging it to reject the "most blatant form of political interference" by Ed Miliband and Sir Vince Cable in its proposed 11.7 billion pound ($15.25 billion) offer for Sky Plc.

Male presenters at the BBC are twice as likely as their female colleagues to earn more than 150,000 pounds ($195,510) a year, the corporation will admit on Wednesday.

The Guardian

All extra charges added to payments for goods and services made by card are to be outlawed, ending a "rip-off" that costs Britons hundreds of millions of pounds a year, the government has announced.

Financial Conduct Authority chief executive Andrew Bailey said City firms were getting near to the point where they would have to take steps to move staff and other measures to ensure that they can continue to operate seamlessly once the UK leaves the EU in March 2019.

The Telegraph

McCormick & Co Inc has reportedly agreed to buy Reckitt Benckiser Group Plc's food business for more than 3.1 billion pounds ($4.04 billion), a year after the Schwartz spices maker's efforts to buy Premier Foods Plc were thwarted.

BP Plc is considering spinning off certain U.S. pipeline assets in the U.S. Gulf and Midwest in an initial public offering, the company said in a statement late on Tuesday.

Sky News

Adam Crozier, the former ITV Plc chief executive, is being lined up to become chairman of the Vue cinema chain as it examines plans for a blockbuster sale or stock market flotation.

Foreign hackers have penetrated the UK's critical national infrastructure, including parts of the national grid, a leaked document has revealed.

The Independent

The divisions tearing apart the Conservative party have been laid bare as backbench members of Parliament told the prime minister she has their backing to sack disloyal cabinet ministers.