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Frontrunning: May 1

Courtesy of ZeroHedge. View original post here.

  • Netanyahu says not seeking Iran war as U.S. faces deadline (Reuters)
  • Trump Extends Relief, Confusion as Allies Get Tariff Reprieve (BBG)
  • Canada repeats that U.S. steel tariffs would hurt American jobs (Reuters)
  • Dollar goes positive for year before Fed meeting (Reuters)
  • As Cities Gentrify, Efforts Help Families Stay (WSJ)
  • Boom time comes early to West Texas oil patch (Reuters)
  • Mnuchin Says U.S. Isn't Looking to Put Rusal Out of Business (BBG)
  • How Bad Is the Labor Shortage? Cities Will Pay You to Move There (WSJ)
  • Fed likely to keep rates steady; investors bet on June hike (Reuters)
  • Guitar-Maker Gibson Brands Files for Bankruptcy (WSJ)
  • Peter Thiel-Backed Venture to Help Big Investors Bet on Bitcoin (WSJ)
  • Mall Owners and Retailers Clash Over Avalanche of Online Returns (BBG)
  • Netanyahu told Trump about Iran claims at March 5 meet: senior official (Reuters)
  • Forget 3%. That Amazing Bull Run in Treasuries Ended Years Ago (BBG)
  • Weinstein Company set to be taken over by Lantern Capital (Reuters)
  • BP Shares, Boosted by Higher Oil Prices, Hit Eight-Year High (WSJ)
  • Michael Cohen Hit With New Taxi Taxes, Owes New York $282,000 (BBG)
  • Insurgents start leaving south Damascus pocket, release hostages (Reuters)
  • Tomorrow's jobs require impressing a bot with quick thinking (Reuters)
  • Iraq’s Shiite-Sunni Divide Eases, in Unity Against Islamic State (WSJ)
  • Banker’s Alleged Use of F-Word Sparked Legal War With Jersey Guy (BBG)
  • North and South Korea start to dismantle border speakers, fulfilling summit pledge (Reuters)
  • Pfizer revenue misses as breast cancer drug sales disappoint (Reuters)

Overnight Media Digest

WSJ

- In a twist during closing arguments of a six-week trial, the Justice Department urged the judge in the AT&T Inc merger case to consider "alternative" remedies if he decides not to block the planned acquisition of Time Warner Inc outright. (on.wsj.com/2HZuAb4)

- A federal jury found Autonomy Corp's former financial chief guilty of falsifying financial statements and exaggerating the British software maker's value before its sale to Hewlett Packard for $11 billion in 2011. (on.wsj.com/2rbhopP)

- Jan Koum, Facebook Inc director and co-founder of its WhatsApp unit, is leaving the messaging service. (on.wsj.com/2rcBgZP)

- Twitter Inc said it sold data to the Cambridge University academic who had separately shared user data he gleaned from Facebook Inc with third parties including the controversial research firm Cambridge Analytica. (on.wsj.com/2I5ULwK)

- Banks and credit-card companies are discussing ways to identify purchases of guns in their payment systems, a move that could be a prelude to restricting such transactions. (on.wsj.com/2rbuMKQ)

FT

Influential shareholder advisory group, Glass Lewis, has piled pressure on Paul Achleitner, chairman of the supervisory board at Deutsche Bank AG, saying shareholders should push for a process to find his successor.

Marathon Petroleum Corp has agreed to buy rival refining group Andeavor in a $36 billion deal to create the largest crude oil processor in the US.

The former chief financial officer of Autonomy was convicted of fraud in San Francisco on Monday, in the first courtroom test of claims by Hewlett Packard that it was defrauded when it bought the British software company.

Jan Koum, the founder of WhatsApp and board member at Facebook Inc, said he is stepping down from the social network, as the company struggles to deal with the fallout from the Cambridge Analytica revelations.

NYT

- Jan Koum, co-founder of Facebook Inc's WhatsApp, said on Monday he was leaving the company. Koum's exit is the highest-profile departure from Facebook after months of controversy that has roiled the social network nyti.ms/2HEbpV5

- The Trump administration said on Monday it would delay a decision to impose steel and aluminum tariffs on the European Union, Canada and Mexico for another 30 days, giving key allies a reprieve as the White House tries to extract concessions from trading partners who have resisted those demands. nyti.ms/2rcHfwP

- Anthony Scaramucci, the Wall Street investor whose short tenure as President Trump's White House communications director elevated him to national prominence, is not going to sell his hedge fund company to Chinese conglomerate HNA Group, the two companies announced on Monday. nyti.ms/2rbHGID

- The New York Times said on Monday Wendell Jamieson, the newspaper's metro editor, had resigned after an internal investigation but did not specify the reason for his departure. nyti.ms/2I36KeB

Canada

THE GLOBE AND MAIL

** Ontario's Liberal government took direct aim at Hydro One Ltd's "unjustifiably generous" compensation on Monday, forcing the electrical transmission utility's board to revisit pay packages for senior executives. tgam.ca/2jkIpCT

** The Liberal government defended its carbon-pricing plan on Monday, with an analysis that concludes the federal and provincial levies would reduce greenhouse gas emissions by up to 90 mega tonnes by 2022, the equivalent of shutting down more than 20 coal-fired power plants. tgam.ca/2KuyaIu

** The federal government introduced new legislation on Monday aimed at curbing foreign interference in Canadian elections, but is leaving parliament with a tight schedule for passing the bill in time for the 2019 campaign. tgam.ca/2rcuSRn

NATIONAL POST

** Canada's largest medical regulator is taking too long to resolve its thousands of discipline cases, according to an inquiry commissioned by the Ontario government, with even unfounded patient complaints against doctors lingering for months. bit.ly/2I2SzGh

Britain

The Times

The founder of Shire Plc, Harry Stratford, has come out in support of a proposed takeover by Japanese rival, saying that a 46 billion pound proposal from Takeda Pharmaceutical Co represented a "fair price". bit.ly/2raZSBu

A jury in San Francisco convicted former CFO of Autonomy Sushovan Hussain of using accounting tricks to flatter the company's finances before it was bought by Hewlett-Packard . bit.ly/2rcqJgf

The Guardian

WPP is to sell stakes worth billions of pounds that it holds in a wide range of companies, as the world's largest advertising group looks to refocus after the departure of founder Sir Martin Sorrell. bit.ly/2raU3nv

A 400-million-pound ($550.64-million) government plan to build electric car charging points looks likely to be significantly delayed, in a blow to car manufacturers and efforts to tackle air pollution in UK cities. bit.ly/2rbjmWu


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