- How Trump Aims to Broadly Reshape Policy (WSJ)
- Trump Calls for Unity at Opening Concert as Inaugural Festivities Begin (NYT)
- Trump Takes the Reins of a Deeply Divided Nation (BBG)
- Washington braces for anti-Trump protests, New Yorkers march (Reuters)
- After the Parties, a Protest for the Ages (WSJ)
- Voter Anxiety That Fueled Trump’s Victory Turns to Hope (WSJ)
- Pageantry, protests to mark the start of Trump’s presidency (Reuters)
- For stock performance under Trump, don’t look to prior transitions (Reuters)
- Bullion Bulls Have History on Their Side as Trump Takes Helm (BBG)
- Yellen Backs Gradual Rate Rises as Fed Not Behind the Curve (BBG)
- Doing Business With Putin (BBG)
- Floor Caving In on Europe Real Estate Stocks Bashed by Rates (BBG)
- Republican Governors Balk as Congress Races to End Obamacare (BBG)
- Telecommunications company Avaya files for bankruptcy (Reuters)
- Finland Prepares for ‘Manifold Warfare’ as Russia Feeds Paranoia (BBG)
- Samsung Blames Battery Size for Galaxy Note Fires (WSJ)
- There’s an Unexplained $9 Billion Gap in India’s Cash Supply (BBG)
- Turkey can no longer insist on Syria settlement without Assad: Turkish deputy PM (Reuters)
- Islamic State destroys famous monument in Syria’s Palmyra: antiquities chief (Reuters)
- GE Meets Profit Estimates on Gains in Power, Aviation Units (BBG)
- P&G profit and sales beat Wall Street estimates (Reuters)
- U.K. Retail-Sales Slump Hints at Cracks in Britain’s Brexit Boom (BBG)
- U.S. Oil Producers Ramp Up Spending (WSJ)
- Robot Crop Pickers Limit Loss of U.S. Farm Workers to Trump Wall (BBG)
- Companies’ Job Pledges: Analyzing the Numbers (WSJ)
- Lloyd’s of London Seeks Europe Base as May Backs Hard Brexit (BBG)
Overnight Media Digest
WSJ
– Joaquin “El Chapo” Guzman, the drug lord who staged two spectacular escapes from maximum-security prisons in Mexico, has arrived in New York to face trial, U.S. officials said Thursday. http://on.wsj.com/2jeuWLl
– A $1 billion financing deal with Chinese firms Shanghai Film Group Corp and Huahua Media promises Viacom Inc’s struggling Paramount Pictures some much-needed funds and a foothold in the world’s second-largest box-office market. http://on.wsj.com/2jeBNV7
– A Chinese consortium led by China Oceanwide Holdings Group Co reached a deal to buy International Data Group Inc, the data and marketing company that also runs venture-capital firm IDG Ventures. http://on.wsj.com/2jevNMa
– China’s flagship state-owned chip maker Tsinghua Unigroup said it plans to build a $30 billion memory-chip factory in Nanjing, its latest investment as China moves to diminish its dependence on U.S. chip manufacturers. http://on.wsj.com/2jeE7LL
– U.S. regulators closed a probe of a fatal crash involving a Tesla Motors Inc car driving itself, concluding the Silicon Valley auto maker’s semi-automated technology didn’t contain a safety defect. http://on.wsj.com/2jeEpSQ
– JPMorgan Chase & Co Chief Executive Jamie Dimon will receive $28 million in total compensation for 2016, up 3.7 percent – or $1 million – from 2015, according to a Thursday securities filing. http://on.wsj.com/2jezEsp
– South Korea’s Hyundai Merchant Marine Co Ltd said it will buy a fifth of the company that runs the biggest container terminal at Long Beach, Calif., the U.S.’s second-largest port. http://on.wsj.com/2jeCGNr
– Uber Technologies Inc agreed Thursday to pay $20 million to resolve Federal Trade Commission allegations that it misled drivers about potential earnings and vehicle financing. http://on.wsj.com/2jev9Oy
FT
* President-elect Donald Trump said on Thursday that National Football League team owner Woody Johnson was “going to St. James,” indicating he would assume the plum diplomatic post of U.S. ambassador to the United Kingdom.
* Miner BHP Billiton Ltd,, its partner Vale SA and their jointly owned Samarco unit have agreed with Brazilian prosecutors on a June 30 deadline to settle billions of dollars in compensation claims stemming from an iron ore mine disaster in 2015.
* Britain’s biggest house builder Barratt said on Thursday its Chief Finance Officer Neil Cooper had left the firm by mutual agreement just over a year after he joined.
* Sinn Fein’s Martin McGuinness, a key figure throughout five decades of conflict and peace in Northern Ireland, said on Thursday he was bowing out of politics and would not lead his nationalist party into elections in March.
NYT
– Joaquín Guzmán Loera, the notorious drug lord known as El Chapo, was extradited to the United States on Thursday night. nyti.ms/2iQWtBH
– American law enforcement and intelligence agencies are examining intercepted communications and financial transactions as part of a broad investigation into possible links between Russian officials and associates of President-elect Donald Trump, including his former campaign chairman Paul Manafort. nyti.ms/2juYk0Q
– Donald Trump arrived in Washington the day before his inauguration as the nation’s 45th president in a swirl of cinematic pageantry but facing serious questions about whether his chaotic transition has left critical parts of the government dangerously short-handed. nyti.ms/2iI6ZQt
– President-elect Donald Trump on Thursday chose Woody Johnson, the owner of the New York Jets football franchise, as his ambassador to Britain. nyti.ms/2iQShBQ
– Federal auto-safety regulators said their investigation of the Tesla Motor’s car found no defects in the system that caused a fatal accident eight months back and said Tesla’s Autopilot-enabled vehicles did not need to be recalled. nyti.ms/2juVA3J
– The political standoff in Gambia intensified on Thursday as foreign troops crossed the border with orders to dislodge a repressive leader who has refused to step down after losing a presidential election last month. nyti.ms/2jFtyoh
Canada
THE GLOBE AND MAIL
** The incoming Trump administration is ruling out an across-the-board border tax as it prepares a sweeping new trade agenda that includes renegotiating the North American free-trade agreement with Canada and Mexico. https://tgam.ca/2j11Gdg
** Ottawa will consider adopting national guidelines for prescription heroin and other unconventional therapies to treat severe opioid addiction, looking to guidelines being developed by doctors in British Columbia, where such treatments are already available on a small scale. https://tgam.ca/2j12jUs
** As an executive at Loblaw Companies Ltd, Sarah Davis helped steer the company through some of its toughest times. Now she is being rewarded with a promotion to president of Canada’s largest grocer and drugstore retailer. https://tgam.ca/2j0Z67a
NATIONAL POST
** Starwood Capital Group is paying $2.85 billion to buy Milestone Real Estate Investment Trust, a TSX-listed company that focuses solely on U.S. residential properties. In the process, Canadian investors are losing one of the TSX’s most significant direct plays on the U.S. real estate market. http://bit.ly/2j12D5C
** Canadian Pacific Railway Ltd may be losing its legendary CEO to a competitor, but investors shrugged off the development Thursday, sending shares up as much as 4.2 per cent in morning trading. http://bit.ly/2j1b5BJ
** Alberta Premier Rachel Notley shuffled her cabinet Thursday to carve out a new Children’s Services ministry, citing ongoing problems keeping kids safe in government care. http://bit.ly/2j0Xdrc
Britain
The Times
Ofgem warns Big Six firms against raising energy prices
Ofgem has issued a warning shot to the Big Six suppliers against raising prices, saying there was no “obvious reason” for them to increase standard tariffs. http://bit.ly/2jEWEUK
The Guardian
Rolls-Royce lobbied ministers to weaken anti-bribery proposals
Rolls-Royce Holdings Plc, which this week agreed to pay 671 million pounds in penalties after admitting it had engaged in corruption, lobbied ministers to weaken proposed curbs on bribery a decade ago. http://bit.ly/2k6183s
Goldman Sachs stalls plan to move jobs to UK amid Brexit uncertainty
Goldman Sachs Group Inc has suspended plans to move key operations from the United States to London because of the uncertainty created by the vote to leave the EU. The Wall Street firm – in the midst of building a new 350 million pound London headquarters – had been preparing to shift more of its global operations and IT activities from New York, but now appears to have embarked on a hiring freeze. http://bit.ly/2ju22HT
The Telegraph
Barratt’s chief financial officer leaves the company after just 15 months
Barratt Developments Plc’s chief financial officer is to leave the business a week after the house builder reported a sharp drop in the number of homes it built in London last year. Neil Cooper joined Barratt just 14 months ago, in November 2015, but has now left by mutual consent. Chief Executive David Thomas will stand in for Cooper until a successor can be found. http://bit.ly/2iPWNRe
Glaxo’s pharmaceuticals boss walks away as new chief prepares to take the helm
One of GlaxoSmithKline Plc’s most senior directors is leaving the company as incoming boss Emma Walmsley moves to refresh her team. Abbas Hussain, who has run Glaxo’s sprawling pharmaceuticals division since 2008, has agreed to leave the FTSE 100 drugs giant later this year. http://bit.ly/2jEXEYN
Sky News
Southern railways to suffer more strike action
Passengers on the Southern railway network face more delays next week after drivers and guards in the RMT union decided to press ahead with further strikes. The RMT said its members would be taking action because it has been excluded from talks between ASLEF and the company. http://bit.ly/2iOM21r
Metro Bank creates 500 jobs in branch expansion
Metro Bank Plc has announced plans to create 500 new jobs as it continues to expand its interests beyond London and the South East. The loss-making challenger bank, which first hit high streets a little over six years ago as major lenders juggled the damaging fallout from the financial crisis, said the new roles included customer-facing and head office positions. http://bit.ly/2jDoq3H
via http://ift.tt/2jwkBLz Tyler Durden