- Trump Gambles on Big Health Victory (WSJ)
- Provocateur-in-Chief Trump Pokes His Own Party’s Power Centers (BBG)
- White House Preparing to Replace Top Banking Regulator (WSJ)
- Trump’s Trade Warrior Is the Most Unpopular Economist in the Class (BBG)
- Erdogan says to discuss Syria operations with Russia’s Putin, Trump (Reuters)
- Thaad Missile-Defense System Is Up and Running in South Korea (WSJ)
- Infosys to Hire 10,000 American Workers After Trump Criticism (BBG)
- Hollywood writers reach tentative deal with studios, averting strike (Reuters)
- United’s Munoz, Other Airline Executives to Testify in Washington (WSJ)
- Coal Country Is Back, Along With Signing Bonuses and Pay Raises (BBG)
- Theranos Settles Lawsuit With Partner Fund (WSJ)
- Murdoch Seeks to Dent Google’s Ad Dominance After YouTube Revolt (BBG)
- Goldman Sachs Embraces Banking’s Bland Side: Lending Money (WSJ)
- Why Investors Will Watch TV Battle Between Macron, Le Pen (WSJ)
- Ackman to `Probably’ Shun Pharmaceuticals After Valeant Loss (BBG)
- San Francisco Eases Home-Sharing Curbs (WSJ)
- A Homebuying Calculator for Millennials: Does That Add Up? (BBG)
- AllianceBernstein Ousts C.E.O. and Shakes Up Board (NYT)
- A Pool Table in Philadelphia Shows Nasdaq’s Thirst for Talent (BBG)
Overnight Media Digest
WSJ
– The sexual harassment scandal that has engulfed Fox News for nearly a year claimed another casualty with the resignation of Bill Shine, the network’s co-president and one of its longest-serving executives. on.wsj.com/2oS5mTv
– Theranos Inc settled a lawsuit alleging the company and its founder, Elizabeth Holmes, defrauded a San Francisco hedge fund into making a $96.1 million investment through “a series of lies,” the company said Monday. on.wsj.com/2oS1d1Q
– Home-sharing sites Airbnb Inc and Expedia Inc’s HomeAway have reached a settlement with San Francisco that makes it easier for rental hosts to register with the city and helps the companies avoid costly fines. on.wsj.com/2oSisA3
– IAC plans to buy Angie’s List Inc combining the consumer-review site with IAC/InterActiveCorp’s HomeAdvisor and forming a new, publicly traded company for a deak valued at more than $500 million. on.wsj.com/2oSqHvY
– Drug company Valeant Pharmaceuticals International Inc said it has made $220 million in unscheduled debt payments, its latest effort to chip away at the multibillions of dollars its owes. on.wsj.com/2oSjfkv
FT
Bill Shine, co-president of Fox News Channel, has become the latest executive to resign in the wake of a sexual misconduct scandal at the cable channel.
The French parent of asset manager AllianceBernstein fired its longtime leader, Peter Kraus, replacing him with a new chief executive and new chairman, and overhauled the firm’s board, according to a filing on Monday that offered little explanation for the unexpected changes.
Cisco Systems Inc said on Monday it intended to buy privately held Viptela for $610 million in cash and assumed equity awards. The deal is expected to close in the second half of the year pending regulatory reviews.
NYT
– A Greek official said on Tuesday that his country had reached a deal with its creditors that would allow it to receive critical emergency funds in return for promises to raise taxes and cut social spending. nyti.ms/2oSjyMa
– Fox News forced out one of its most senior executives on Monday, the latest aftershock of a sexual harassment scandal that has engulfed the television network and pressured its owners, the Murdoch family, into a painful and protracted public housecleaning. nyti.ms/2oSj1tJ
– Fox News faced a fresh legal challenge on Monday after Diana Falzone, a reporter at the network, accused it of discriminating against her on the basis of her gender and her fight against a chronic disease. nyti.ms/2oSkxf8
– Screenwriters and entertainment companies held contract talks in the final hours before a strike deadline on Monday, as union loyalists flooded Twitter with messages of resolve and as the rest of Hollywood held its collective breath. nyti.ms/2oSfoni
– In a move that highlights the increasing pressures faced by stock pickers on Wall Street, Peter Kraus, the chief executive of AllianceBernstein Holding, was ousted by the money manager’s controlling shareholder on Monday. nyti.ms/2oS6LZV
– Airbnb agreed to settle a lawsuit against the city of San Francisco, putting to rest litigation that could have hampered the company’s efforts to expand and go public. nyti.ms/2oShHad
– President Trump continued his outreach to rogue leaders, declaring he would meet North Korea’s dictator, Kim Jong-un, provided the circumstances were right, even as the Philippine president, Rodrigo Duterte, brushed aside the president’s invitation to visit the White House, saying he might be “too busy.” nyti.ms/2oRZnxE
Canada
THE GLOBE AND MAIL
** In an effort to pass legislative agenda, Liberal House leader Bardish Chagger announced that her government will make more use of time allocation, a practice that limits debate on specific bills or motions that will force votes and move the process along. tgam.ca/2qnL1VH
** Pembina Pipeline Corp, known for its oil sands pipelines and natural gas liquids businesses, is buying Veresen Inc in a C$9.7 billion deal, the fourth major takeover in Canada’s energy infrastructure sector in just over a year. tgam.ca/2qnMMlO
NATIONAL POST
** Defence Minister Harjit Sajjan is being accused of falsely downplaying his role in Afghanistan in an attempt to thwart an investigation by the ethics commissioner, just days after he publicly apologized for falsely embellishing his role. bit.ly/2qo1nO7
** After Kevin O’ Leary’s shock withdrawal from the Conservative Party’s leadership election last week and his endorsement of rival Maxime Bernier, there’s a growing consensus among close observers of the contest that it’s Bernier’s to lose – unless several campaigns mount a joint offensive in support of another specific candidate. bit.ly/2qnToRt
** Alternative mortgage lender Equitable Group Inc announced that it has lined up C$2 billion in standby credit in a bid to stem any contagion from troubled competitor Home Capital Group Inc which continues to experience a partial run on its funding. bit.ly/2qnUe0v
Britain
The Times
* Velocity Composites is set to float on the junior market of the London Stock Exchange. bit.ly/2p2F0dn
* Lloyds Banking Group has shrugged off concerns that its practice of booking revenue upfront from customers who have interest-free periods on their credit cards is a “ticking time bomb”. bit.ly/2p2CJPa
The Guardian
* Philip Green and his wife are among the UK’s richest couples – although their wealth has fallen by 433 million pounds ($558.44 million) over the past year following the collapse of BHS, according to an annual wealth ranking. bit.ly/2p2FZu1
* The future of Britain’s power supply has been jeopardised by Brexit and the government must act urgently to ensure nuclear power stations stay open, the influential committee for business, energy and industrial strategy has warned. bit.ly/2p2rVAH
The Telegraph
* More than two dozen UK organisations, including the British Film Institute, Odeon Cinemas, Sky and the Premier League, have lined up against the European Commission’s planned copyright overhaul. bit.ly/2oR5YbP
* Loch Lomond Group, whose brands include Littlemill and Glen Scotia, said the partnership with the state-backed agriculture and food & beverage giant Cofco would pave the way for its whiskies to be sold across China. bit.ly/2oRhunB
Sky News
* Former Tory treasurer Lupton is to become the first chairman of Lloyds Banking Group’s non-ring-fenced bank, according to Sky News. bit.ly/2oRcgIo
* Institutional Voting Information Service, which is part of the fund management industry’s leading trade body, has issued a ‘red-top’ warning to Bovis investors ahead of shareholder meetings on Tuesday, according to Sky News. bit.ly/2oR5bHQ
The Independent
* The proportion of UK female high earners has not changed for the past six years, despite initiatives to shrink the pay gap between men and women, according to research from global law firm Clyde & Co.ind.pn/2p2s7zV
* Brexit negotiations should not divert the UK government’s attention from the challenges businesses are facing at home, the British Chambers of Commerce has warned. ind.pn/2p2JznQ
via http://ift.tt/2pTbsTC Tyler Durden