Frontrunning: August 11

  • Trump: military solutions ‘locked and loaded’ against North Korea threat (Reuters)
  • Any Korean war could quickly escalate (Reuters)
  • Could a North Korean Nuclear Missile Hit the White House? (BBG)
  • Standoff Leaves China With Few Options (WSJ)
  • Trump and Kim’s War of Words Has Asia Bracing for Conflict (BBG)
  • After years, South Koreans worry about North: food sales up, civil drills expanded (Reuters)
  • Trump Hands McConnell a Daunting To-Do List to Regain His Favor  (BBG)
  • Google Cancels Staff Meeting to Address Diversity Crisis (BBG)
  • Poker Site Wants Card Sharks to Fold So the Rest of Us Can Win (BBG)
  • Number of Americans Caught Underpaying Some Taxes Surges 40% (WSJ)
  • A Battle Over Goldman’s Hunger Bonds Is Being Waged in Florida  (BBG)
  • Vladimir’s Venezuela – Leveraging loans to Caracas, Moscow snaps up oil assets (Reuters)
  • IEA says strong oil demand growth helping market rebalance (Reuters)
  • Parked Electric Cars Earn $1,530 Feeding Power Grids (BBG)
  • ‘Hollywood Is Under Siege’: HBO Hack Exposes Industry’s Vulnerability (WSJ)
  • Undaunted by tensions, Chinese tourists flock into North Korea (Reuters)
  • Who Is Winning With the Fiduciary Rule? Wall Street (WSJ)
  • Protesters storm Shell crude flow station in Niger Delta (Reuters)

 

Overnight Media Digest

WSJ

– Benchmark Capital sued Uber Technologies Inc’s former chief Travis Kalanick alleging that he defrauded directors into giving him more control over the board by hiding a range of “inappropriate and unethical directives”. on.wsj.com/2vJweHW

– Alphabet Inc’s Google canceled a companywide meeting about diversity just before it was set to begin Thursday, citing safety concerns after right-wing commentators published the names of certain employees. on.wsj.com/2vK7XRQ

-US investigators uncovered a global financial network run by a senior Islamic State official that funneled money to an alleged ISIS operative in the US through fake eBay transactions, according to a recently unsealed FBI affidavit. on.wsj.com/2vKKU9E

-US President Donald Trump declared the opioid epidemic a national emergency Thursday, establishing a formal designation for the crisis that could shape the way his administration responds. on.wsj.com/2vKrguv

-Wisconsin Governor Scott Walker defended a $3 billion tax-incentive package to lure Taiwan’s Foxconn Technology Co Ltd to the state, amid a growing chorus of concerns about the hefty bill to taxpayers. on.wsj.com/2vKEXt5

 

FT

UK’s manufacturing output remained stagnant in June, in line with market expectations, according to figures published by the Office for National Statistics.

UK’s Information Commissioner’s Office fined TalkTalk Telecom Group Plc 100,000 pounds ($129,740.00) for failing to protect the data of its customers, after the details of as many as 21,000 people were unlawfully accessed by three accounts at Indian IT services company Wipro Ltd.

Credit Suisse Group AG has barred transactions involving certain Venezuelan bonds, fearing any potential fallout from being seen to support the increasingly autocratic government of Nicolas Maduro.

The Bank of England has said that after “careful and serious consideration and extensive public consultation” it had decided to stick with printing banknotes that contain animal fat in spite of an outcry by campaigners who wanted them to be made meat-free.

 

NYT

– Benchmark Capital, the venture capital firm that is one of Uber Technology’s biggest investors, sued Travis Kalanick, claiming fraud and other transgressions, in an attempt to remove him from the ride-hailing company’s board. nyti.ms/2vKiL2h

– Jeffrey Lord, a CNN contributor and Trump supporter, was fired after posting “Sieg Heil” on Twitter in an exchange with the president of a media watchdog site. nyti.ms/2vJPK70

– Google on Thursday canceled a scheduled companywide meeting at which executives had planned to discuss a memo that questioned the Silicon Valley giant’s diversity efforts after employees expressed concern that they would be exposed to harassment online. nyti.ms/2vKjYGQ

 

Canada

THE GLOBE AND MAIL

** TMX Group CEO Lou Eccleston said his company is considering a move that could make it harder for investors to buy and sell the shares of marijuana companies with U.S. assets, raising doubts about the ability of some public Canadian pot firms to raise cash and expand south of the border. tgam.ca/2vsVNdF

** Aimia Inc sees a “huge sense of urgency” in finding new partnerships to strengthen its core loyalty program Aeroplan, following the announcement in May that Air Canada would end its exclusive relationship with that program. tgam.ca/2vsWeEP

** British Columbia’s new NDP government warned Kinder Morgan on Thursday that the company won’t be able to begin construction on its Trans Mountain pipeline expansion, as the province pledged to join a legal challenge to ultimately kill the project. tgam.ca/2vsE2uN

NATIONAL POST

** As nuclear rhetoric between North Korea and the United States heats up, Citibank analysts are anxiously watching commodity prices due to the importance of the North Asian market. bit.ly/2vt1jNm

** With quarterly GDP figures putting it near the head of the G7 pack, it would take a major disruption to make 2017 anything but a big economic win for Canada. But looking ahead to 2018, things are less certain, according to a recent report from Toronto-Dominion Bank. bit.ly/2vt1zMk

 

Britain

The Times

Prudential Plc will combine its UK insurance operation with the fund manager M&G in a move that could lead to the break-up of the insurer. bit.ly/2uu04jF

Dong Energy hopes to secure subsidies within weeks to build what could be the world’s biggest offshore wind farm off the coast of Yorkshire. bit.ly/2fx5ovY

The Guardian

Thousands of Asda Stores Ltd workers are facing redundancy or a dramatic cut in their working hours as Britain’s third-largest supermarket chain looks to cut costs. bit.ly/2hPfn0i

Four supermarkets have withdrawn products from their shelves as it emerged that 700,000 eggs from Dutch farms implicated in a contamination scare had been distributed in Britain. bit.ly/2hNxxjc

The Telegraph

Challenger bank Aldermore Group Plc saw its profits shoot up in the first half as demand for fresh funding increased among Britain’s homeowners, landlords and small businesses. bit.ly/2vTYsQw

Manx Telecom Plc announced Danny Bakhshi had been suspended “on a precautionary basis pending investigations being carried out” and that the charge was unrelated to his professional role. bit.ly/2vJSIs3

Sky News

Sabre, a car insurer whose brands include Go Girl and Insure2Drive has picked bankers to steer it onto the London stock market. bit.ly/2vrJxKm

Lego has announced it is replacing its chief executive just eight months after he took up the role. bit.ly/2uuUBFo

The Independent

Wal-Mart Stores Inc has apologised for a sign in one of its stores that appeared to market guns as items for school children. ind.pn/2usllX2

According to a survey, carried about by international recruiter Hired, the majority of respondents working in the U.S. tech industry said they were dissuaded from relocating to the UK since Brexit had made the country a less desirable place to live. ind.pn/2urDmc7


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