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Frontrunning: May 21

Courtesy of ZeroHedge. View original post here.

  • Justice Department to Review FBI Probe of Trump Campaign (WSJ)
  • Trump’s Russia Probe Attacks Escalate From Tweets to Action (BBG)
  • U.S.-China Trade Truce May Not Last With Differences Unresolved (BBG)
  • U.S. Sends Mixed Messages on China (WSJ)
  • ‘Don’t Scream’: How the Texas School Shooting Unfolded (WSJ)
  • China Considers Ending Birth Limits as Soon as This Year (BBG)
  • GE to Merge Rail Division With Wabtec in $11 Billion Deal (WSJ)
  • Rising Dollar Sparks Tumult in Emerging Markets (WSJ)
  • An Arab Plan B for Containing Iran (BBG)
  • Venezuela’s President Keeps His Grip on Power (WSJ)
  • Forget About Oil at $80. The Big Rally Is in Forward Prices (BBG)
  • Trans-Atlantic Oil-Price Spread Soars as Supply Glut Disappears (WSJ)
  • Surging Prices, Rates Test Demand in Housing Market (BBG)
  • Fall of a Malaysian Dynasty Puts Target on Alleged 1MDB Mastermind (WSJ)
  • The Beginning of the End of Forward Guidance (BBG)
  • Cohen Probe Trips Up Bridgewater, World’s Biggest Hedge Fund (WSJ)
  • How Canada's Brookfield snatched bargain assets amid Brazil panic (Reuters)
  • Modi's Party Fails to Form Government in India's Karnataka (BBG)
  • China's Bond Market Is a Real Minefield for Investors (BBG)

Overnight Media Digest

WSJ

- Investigators have yet to issue their final report on a Southwest Airlines Co flight last month that ended in an emergency landing and a passenger's death. But one thing is clear: Despite a warning about a suspect engine part nearly two years earlier, investigators didn't mandate enhanced inspections for an unusually long time and acted only after the high-profile fatality. on.wsj.com/2rWNfLp

- Starbucks Corp said it is creating an official policy that allows all guests to use its cafes, including its restrooms, whether or not they make a purchase. on.wsj.com/2IBIMZb

- In federal and state lawsuits against American Airlines Group Inc, Kroger Co and luxury chain Montage Hotels & Resorts LLC, among others, employees have alleged that the companies they work for are unfairly subtracting fractions of their hourly wages using time-tracking technology. on.wsj.com/2kdCgsX

- Hellmann's maker Unilever Plc and Kraft Heinz Co , which owns Miracle Whip, are cutting prices and slinging out new concoctions as they battle changing eating habits, an array of new competitors and each other. on.wsj.com/2wZtyYo

FT

Electric scooter sharing company Bird is looking to raise as much as $200 million in new equity, according to a person familiar with the talks.

European private equity firms Nordic Capital and Inflexion have raised a combined $8 billion in funds with Nordic Capital raising 4.3 billion euros ($5.06 billion) for its latest flagship fund and Inflexion raising a total of 2.25 billion pounds ($3.03 billion) in two separate funds from investors.

British authorities, whose relations with Moscow have been strained, are yet to renew Russian billionaire Roman Abramovich’s visa after it expired last month, according to four people close to the owner of Chelsea football club.

NYT

- Comcast Corp has lined up bridge financing with investment banks as it intends to mount a campaign to snatch Twenty-First Century Fox from Walt Disney Co. nyti.ms/2rZdMH3

- The Trump administration has suspended its plan to impose sweeping tariffs on China as it presses forward with trade talks, a gesture that will temporarily ease tensions between the two nations but rapidly increase pressure on President Trump to secure the type of tough deal that he has long said is necessary to protect American workers. nyti.ms/2LgqtX5

- Deutsche Bank shareholders are set to gather for the company's annual meeting on Thursday and one of the items on the agenda will be a motion to oust Paul Achleitner, who has been the chairman of the company's supervisory board since 2012. nyti.ms/2rVuyb8

Canada

THE GLOBE AND MAIL

** Ontario's elections watchdog, Elections Ontario, is reviewing whether any Progressive Conservative Party candidates used stolen personal data to further their campaigns. tgam.ca/2KHBPCh

** Tory leader Doug Ford has dismissed calls for police to investigate Ontario's Progressive Conservatives and says he has cleaned up the party since becoming leader, despite revelations that a number of local nomination races may have been marred by electoral interference. bit.ly/2IzMhej

NATIONAL POST

** Porter Airlines Inc's chief executive Robert Deluce said the company hasn't walked away from its conditional order of 30 CSeries jets from Bombardier Inc and that deposits for the aircraft are still in place, despite the fact Ottawa closed the door to allowing jets to fly from the island airport more than two years ago. bit.ly/2rW4Fa4

** Canada's ethics watchdog is investigating federal fisheries minister Dominic LeBlanc's decision to award a lucrative fishing license to a group in Atlantic Canada with ties to the Liberals and LeBlanc's own family. bit.ly/2s0NLqX (Compiled by Bengaluru newsroom)

Britain

The Times

Roman Abramovich, the billionaire owner of Chelsea football club, is unable to visit Britain because his visa has expired, The Times has established. bit.ly/2rXjoCB

British online supermarket Ocado Group Plc boss Tim Steiner is in line to collect 110 million pounds ($148.18 million) in bonuses early next year – a record payout for the boss of a UK-listed company. bit.ly/2rWlkeN

The Guardian

British Foreign Minister Boris Johnson has delivered a thinly veiled warning to Prime Minister Theresa May that he and his fellow Brexiters still expect her to deliver a deal that avoids triggering the "backstop" that would keep Britain aligned to the customs union beyond 2020. bit.ly/2rV1JLY

Hundreds of staff at British retailer Marks and Spencer Group Plc will find out as soon as Monday whether their store is closing, as the company accelerates its retrenchment from struggling UK high streets. bit.ly/2IYdpr6

The Telegraph

From Friday, the Information Commissioner's Office will have the power to inspect a private company's intellectual property through algorithm audits, to see that computer programmes are mining and processing European citizen's personal information in a "transparent" and "fair" manner. bit.ly/2IXidNk

Footwear maker Dr. Martens has poached UK fashion brand Cath Kidston Chief Executive Kenny Wilson. bit.ly/2GBaT4C

Sky News

Sky News has learnt that Omers Private Equity, an arm of a major Canadian pension fund, and ICG, a London-listed group, are battling to participate in a takeover of Iris – a major provider of software to GP surgeries across Britain. bit.ly/2rTKdru


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