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Frontrunning: May 8

Courtesy of ZeroHedge. View original post here.

  • Trump to announce decision on Iran nuke deal (Reuters)
  • U.S. Allies Brace for Trump to Exit From Iran Nuclear Deal (WSJ)
  • Iran seeks constructive global relations (Reuters)
  • More Pain Ahead for U.S. Drivers? (BBG)
  • Trump, Republicans Raise Alarms About West Virginia Primary Race (BBG)
  • Powell Says Emerging Markets Equipped to Navigate Turbulence (BBG)
  • New York Attorney General Resigns After Abuse Claims (BBG)
  • China’s Xi Meets Kim Jong Un for Second Time in Two Months (BBG)
  • Valeant Pharmaceuticals to Change Its Name to Bausch Health (WSJ)
  • Five Star Fires Starting Gun for New Italian Elections (BBG)
  • Reimposing Iran Oil Sanctions May Spell Trouble for Turkish Lira (BBG)
  • Japan's Takeda clinches $62 billion Shire deal as pharma M&A rolls on (Reuters)
  • NYSE Owner ICE Is Said to Be Working on Bitcoin Trading Platform (BBG)
  • Goldman, Wells Fargo Look to Credit Cards for Bigger Returns (BBG)
  • China's Exports Climb, Imports Jump on Solid Global Demand (BBG)
  • A Fix Everyone Loves to Hate for the $4 Trillion Retirement Savings Gap (BBG)
  • European regulators: We're not ready for new privacy law (Reuters)
  • Victims of Japan's forced sterilizations demand justice after decades of silence (Reuters)
  • The 50 Richest Zip Codes in the U.S. Northeast (BBG)

Overnight Media Digest

WSJ

- Snap Inc Chief Financial Officer Drew Vollero is stepping down, leaving the social-media company that has struggled since he helped take it public last year, the company said in a securities filing. on.wsj.com/2rrI3ii

- Activist investor Elliott Management Corp is pushing to take Athenahealth Inc private, arguing the health-care software company is botching an opportunity to expand and, as a result, isn't providing adequate returns to shareholders. on.wsj.com/2FRhrvP

- Egypt's parliament passed legislation Monday requiring ride-hailing apps such as Uber to hand over passenger data when requested by the country's security agencies, raising concerns about consumer privacy and state surveillance. on.wsj.com/2Inm6L3

- Starbucks Corp is betting its future on its coffee shops. The Seattle-based company has removed a distraction by selling the rights to offer its coffee and tea in grocery and retail stores to Nestlé SA for more than $7 billion. on.wsj.com/2rqhzhd

FT

The Department for International Trade is set to axe hundreds of officials who promote British exports to countries such as China and Brazil because of a budget squeeze which has pitted trade secretary Liam Fox against the Treasury.

Team17, one of the UK’s most successful independent video game labels is selling a 50-percent stake on London’s Aim in a listing expected to value it at about 200 million pounds ($271.48 million).

The owner of Clydesdale and Yorkshire Bank, CYBG Plc , made an all-share takeover approach for rival Virgin Money on Monday that values it at just over 1.6 billion pounds

NYT

- The U.S. Environmental Protection Agency had a total of 33 threat investigations underway as of mid-March – 10 of them involving Scott Pruitt from the last six months, a security assessment released Monday shows, offering the most detailed tally yet of threats against the agency's top official. nyti.ms/2IljQnK

- Drive.ai on Monday rolled out its "self-driving vehicle" in the city of Frisco, Texas. It was the first new rollout of autonomous cars in the United States since a pedestrian died in Arizona in March after a self-driving car operated by Uber technologies Inc hit her. nyti.ms/2K0SkZI

- The Phnom Penh Post, a newspaper widely seen as the last bastion of a free press in Cambodia, has been sold to a Malaysian investor with ties to Cambodia's prime minister, a move that critics say further highlights the country's slide toward outright authoritarianism. nyti.ms/2I1z8ui

Canada

THE GLOBE AND MAIL

** The Ontario Liberal government is reversing a contentious piece of its new employment legislation around calculating public holiday pay, which business owners argued was both costly and flawed. tgam.ca/2jHi4z8

** Valeant Pharmaceuticals International Inc plans to change its name to Bausch Health Cos, as management takes another step toward remaking the company and distancing it from past controversies. tgam.ca/2rtkbe8

NATIONAL POST

** A Toronto-area police force is investigating an apparent leak after confidential police documents about an aborted drug arrest were used to try to discredit a man vying to be a candidate for the Ontario Progressive Conservatives. bit.ly/2wkgQDm

** The Canadian Radio-television and Telecommunications Commission has concluded that payphone lines are not an essential service in a country where most people own cellphones. bit.ly/2I639t8

Britain

The Times

Defence officials warned the government that backing a European ban on palm oil could jeopardise a deal to sell British-built fighter jets to Malaysia, documents have revealed. bit.ly/2K49pCf

City dealmakers are on track to rake in their biggest fees since the financial crisis after billing more than half a billion dollars since the start of January. bit.ly/2I6AmEQ

The Guardian

The BBC, Channel 4 and ITV have held discussions about joining forces to create a British streaming service to combat the increasing power of Netflix Inc and Amazon.com Inc in the UK. bit.ly/2JXVQ7d

Britain's manufacturers have called on the government to make faster progress on its industrial strategy to help address a slump in productivity in key sectors. bit.ly/2rmGtyn

The Telegraph

Virgin Money is mulling a proposed takeover bid from the owner of Clydesdale Bank and Yorkshire Bank which would value the challenger bank at 1.6 billion pounds ($2.17 billion). bit.ly/2I0Y4WP

Team17, the British company behind the classic video game series Worms, has plans for a float which could value the company at 230 million pounds. bit.ly/2wsx1hE

Sky News

Paragon Banking Group has begun exclusive negotiations to buy Titlestone Property Finance from the giant private equity firm Oaktree. bit.ly/2jESdIf

BT Group Plc has sparked a legal fight with ministers over pension reforms which it claims have increased the burden of one of the biggest retirement scheme liabilities in corporate Britain. bit.ly/2rslIRG

The Independent

More than 100 flights between the UK and Italy were cancelled on Tuesday ahead of a strike by air-traffic controllers and ground staff. ind.pn/2jGMO3x


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