- Stocks slide toward longest losing streak of the year (Reuters)
- Global Stocks Extend Slide After Treasurys Hit 3% (WSJ)
- Boeing Shakes Off Trade-War Jitters (BBG)
- Why High-Flying U.S. Home Prices Are About to Get Another Jolt (BBG)
- North Korea Nuclear Test Site Largely Unusable, Chinese Scientists Say (WSJ)
- Facebook Investors on Alert for Any Evidence of User Defections (BBG)
- Comcast Pursues Sky, Sizes Up Bigger Move for Fox Assets (WSJ)
- The ‘Amazon Effect’ Stings Consumer-Staples Stocks (WSJ)
- Venezuelan schools emptying as Chavez legacy under threat (Reuters)
- Apple’s Tim Cook to Meet With Trump (BBG)
- Arizona Republican declares victory in tight race for House seat (Reuters)
- Call Him Mr. Impeachment: Tom Steyer’s War Against Donald Trump (BBG)
- Credit Suisse Reaps Wealth Management Rewards (BBG)
- Takeda Nears Shire Deal as Japan Inc. Chases Growth Overseas (WSJ)
- French Police Question Tycoon Bollore for Second Day (Reuters)
- Winklevoss Twins Hire Nasdaq to Keep Cheaters Off Crypto Market (BBG)
- Macron’s Pitch to Trump on a ‘New’ Iran Deal Surprises EU Allies (BBG)
Overnight Media Digest
WSJ
– Two senior Senate Democrats have asked a number of large banks to turn over information about accounts and assets controlled by a group of Russian elites who have been designated by the U.S. Treasury Department for possible sanctions. on.wsj.com/2HpjTPB
– The Trump administration is considering sending Harry Harris to South Korea as its new ambassador, according to two people familiar with the matter, turning to a military man to fill a diplomatic vacancy at a pivotal moment on the Korean Peninsula. on.wsj.com/2HoNZCQ
– Yahoo Inc’s response to a 2014 hack of hundreds of millions of user accounts drew a $35 million fine from regulators, the first time a public company has been penalized over its handling of a cybersecurity breach. on.wsj.com/2Hp2RB3
– China’s Didi Chuxing Technology Co is holding discussions about a multibillion-dollar initial public offering as early as this year, a move that would vault the ride-hailing company into the public markets ahead of American rival Uber Technologies Inc, according to people familiar with the matter. on.wsj.com/2HoO3Cy
– Shire Plc said it is willing to recommend that shareholders accept Takeda Pharmaceutical Co Ltd last-ditch $64 billion takeover bid and extended the deadline for a possible deal to May 8. on.wsj.com/2HqMOTm
FT
– The UK Treasury will back a cut in the maximum bet for fixed-odds betting terminals to 2 pounds, ceding to demands from anti-gambling campaigners.
– UK business secretary Greg Clark cleared Melrose Industries’ contentious 8 billion pound acquisition of engineering company GKN Plc.
– Head of the National Audit Office Amyas Morse said the UK will have to honour a British “divorce bill” of up to 39 billion pounds, even if it moves out of the EU without a trade deal.
– Britain is exploring plans to launch a satellite navigation system as a rival to the EU’s 10 billion euro Galileo project and UK business secretary Greg Clark is also taking legal advice on whether Britain can reclaim 1.4 billion euros it has invested in Galileo.
NYT
– Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau, told banking industry executives on Tuesday that they should press lawmakers hard to pursue their agenda, and revealed that, as a congressman, he would meet only with lobbyists if they had contributed to his campaign. nyti.ms/2qVSkmR
– Facebook Inc on Tuesday replaced its head of policy in the United States, Erin Egan, as the social network scrambles to respond to intense scrutiny from federal regulators and lawmakers. nyti.ms/2KbFw3D
– Bank regulators are on the cusp of weakening a rule put in place to prevent the nation’s biggest banks from causing another financial crisis, marking the first significant attempt by policymakers to fulfill President Trump’s promised regulatory rollback. nyti.ms/2vI6ehj
– President Trump signaled on Tuesday he was open to a new arrangement with European allies that would preserve the Iran nuclear agreement by expanding and extending its terms to constrain Tehran’s development of missiles and other destabilizing activities in the Middle East. nyti.ms/2HOZVNF
Canada
THE GLOBE AND MAIL
** The federal government plans to clamp down on “patent trolls” and help train Canadian innovators to compete more effectively against global tech giants as part of its intellectual-property (IP) strategy to be unveiled Thursday.
NATIONAL POST
** Canadian National Railway Co’s interim Chief Executive Officer Jean-Jacques Ruest said Tuesday the company is tackling its capacity challenges “with a great sense of urgency”, focusing on building rail infrastructure in Western Canada to alleviate a backlog that infuriated many customers. (tgam.ca/2KeznDS)
** The Canada Infrastructure Bank has landed a chief financial officer, but the search for a CEO drags on, three years after the federal Liberals first promised the $35 billion agency. (tgam.ca/2vHVC1H)
** The Bank of Nova Scotia’s asset management division, 1832 Asset Management LP, is the second investment fund manager to be fined this month for excessive spending in its mutual-fund sales practices. (tgam.ca/2HVEHet)
Britain
The Times
The Chinese owner of Hamleys is in talks to buy a 51 percent stake in House of Fraser. C.Banner International Holdings Ltd said that it had signed a memorandum of understanding with Nanjing Cenbest to purchase a “possibly very substantial” equity interest in the chain. bit.ly/2vHpZ8v
A key council of employees at the John Lewis Partnership has held its first secret ballot in more than a decade to gauge support for the leadership of Charlie Mayfield. bit.ly/2vGcFBt
The Guardian
TSB’s botched IT “upgrade” has snowballed into a full-scale crisis, with up to 1.9 million customers locked out of their accounts for a fifth day, MPs demanding action and the bank facing a potential multimillion-pound compensation bill and regulatory fines. bit.ly/2qXZEO2
The Daily Express editor has said some of his newspaper’s past front pages have been “downright offensive”, made him feel “very uncomfortable” and contributed to an “Islamophobic sentiment” in the media. bit.ly/2HGEOgz
The Telegraph
Britain has agreed to a 4.4 billion pounds ($6.15 billion)acquisition of armoured vehicles for the army without a formal competition between suppliers, MPs have been told. bit.ly/2qZ4eeG
Learning Technologies Group Plc an Aim-listed provider of staff training software, is to expand in the United States with the $150 million takeover of Massachusetts-based PeopleFluent. bit.ly/2HYEuHJ
Sky News
The government has given the green light to Melrose Industries Plc’s 8.1 billion pound takeover of British engineering giant GKN Plc after finding there were no national security grounds for intervening in the deal. bit.ly/2HpBPK5
Pacific Investment Management Co, the world’s biggest bond fund manager will this week seal the purchase of a 5 billion pound portfolio of mortgages owned by British taxpayers, marking a fresh milestone in efforts to unwind the legacy of the 2008 financial crisis. bit.ly/2qY6bZ1
The Independent
UK public finances have registered their first current budget surplus in 16 years, showing the progress made by the government on this measure of deficit repair since the last recession. ind.pn/2HWZAWI
A group of 65 workers contracted through outsourcing company ISS, were told last month that some would lose their jobs and others may be given reduced hours in reforms aimed at achieving “operational effectiveness and financial efficiency”. ind.pn/2FdY8fu
via RSS https://ift.tt/2HYZSMU Tyler Durden