- Global Stocks Bounce Back After Market Selloff; Asia Stumbles (WSJ)
- New Hampshire Bucks the Establishment to Back Trump and Sanders (BBG)
- Trump shows his U.S. presidential bid is no mere publicity stunt (Reuters)
- Clinton Is Outdone by a Competitor Once Considered a Fringe Candidate (WSJ)
- Deutsche Bank Jumps as Lender Said to Consider Bond Buyback (BBG)
- Bank Executives Leading Surge of Insider Buying Amid Stock Rout (BBG)
- Morgan Stanley Trading Executive Provides Grim Picture for Wall Street (WSJ)
- Carlyle starts $200m share buyback as quarterly profits drop (FT)
- Deutsche Bank’s Short-Term Fix (BBG)
- Russia’s Biggest Oil Producer Skeptical on Output Deal With OPEC (BBG)
- Credit Suisse chief says bank sector sell-off ‘not justified’ (FT)
- Turkish soldiers clash with Kurdish militants crossing from Syria (Reuters)
- Nomura head blames SWFs for Japan sell-off (FT)
- Supreme Court blocks Obama carbon emissions plan (Reuters)
- No easy way out for Deutsche Bank as investors ‘lose faith’ (Reuters)
- Dollar Bulls Await Yellen as Citigroup Says Pessimism May Reign (BBG)
- Spain’s Abengoa asks for loan of up to 750 mln euros (Reuters)
- U.S., Russia Make Syria Diplomacy Push as Assad Gains Ground (BBG)
- Pimco Boosts Government Debt as Treasuries Rally to Top Place (BBG)
- U.S. 10-Year Sale’s Lowest Yield Since 2012 May Diminish Demand (BBG)
Overnight Media Digest
WSJ
– Donald Trump seized his first victory in 2016, winning the New Hampshire Republican presidential primary by a decisive margin, while the rest of the party’s presidential field was left as murky as ever. (http://on.wsj.com/1Wd3zhE)
– U.S. Supreme Court on Tuesday temporarily blocked the Obama administration’s initiative to limit carbon emissions from power plants, dealing an early and potentially significant blow to Obama’s efforts in fighting climate change. (http://on.wsj.com/1TRiY8z)
– U.S. Federal health officials sent more Zika virus kits to test to the state of Florida, while Delaware, Indiana, Ohio, Pennsylvania and Tennessee reported their first cases of the mosquito-borne virus. (http://on.wsj.com/1Wd2fez)
– Sumner Redstone’s lawyers say he cut his former companion Manuela Herzer out of his will, depriving her of a $70 million inheritance, on the same October day that he removed her as his healthcare agent, according to court documents filed Tuesday.(http://on.wsj.com/1Wd5WAW)
– U.S. Patent and Trademark Office is gearing up to rule nearly 13 years after Coke first tried to register “zero” in the U.S., triggering a challenge from Dr Pepper Snapple Group , which also has a diet drink named Zero. (http://on.wsj.com/1Wd68jG)
FT
* Deutsche Bank AG is looking to buy back several billion euros worth of its debt in an effort to reverse the falling value of its securities and is expected to focus its emergency buyback plan on senior bonds, of which it has about 50 billion euros ($56.44 billion) in issue, according to the bank.
* European Union antitrust regulators are investigating several banks for possible rigging of the $1.5 trillion government-sponsored bond market and have sent questionnaires focusing on the price of supra-national, sub-sovereign and agency (SSA) debt to a number of market participants as part of an early stage investigation.
* Ministers are looking at launching a review of tidal power, with talks leading nowhere over government support for a proposed tidal lagoon in Swansea. DECC Officials will examine the potential for tidal energy across the UK in the review, to be announced on Wednesday.
* Channel 4 is to spend an additional 10 million pounds a year on films, as the broadcaster seeks to define its public service credentials in the face of government moves to privatise it.
NYT
– The turmoil engulfing Viacom deepened on Tuesday as weak earnings and concern over the company’s leadership sent shares down more than 21 percent, the lowest level in more than five years. (http://nyti.ms/1oqxkRp)
– Speeding past Wall Street’s expectations, Disney on Tuesday reported a 28 percent increase in quarterly profit, with the “Star Wars” franchise as the primary engine. (http://nyti.ms/20KcJZt)
– US Foods disclosed on Tuesday that it intended to go public, less than a year after its planned merger with a rival, Sysco, collapsed because of opposition from government regulators. (http://nyti.ms/23W2hgH)
– Barclays said on Tuesday that Paul H. Compton, who most recently served as JPMorgan’s chief administrative officer, would join Barclays in May as chief operating officer. (http://nyti.ms/1TRoh7O)
Britain
The Times
Shepherd and Wedderburn has reported a bumper year for deal activity, after the law firm worked on transactions worth a total of 5.4 billion pounds ($7.81 billion), including some of the biggest takeovers and fundraisings in Scotland. (http://thetim.es/1TR6Pk3)
Jes Staley, the new Barclays Plc boss, has further enhanced his power base with another recruitment from JPMorgan Chase, his former employer. Paul Compton, who worked with Staley at the Wall Street bank, will join Barclays in May as chief operating officer, replacing Jonathan Moulds. (http://thetim.es/1TR7odt)
The Guardian
London black-cab drivers have rejected an apparent olive branch from Uber Technologies Inc as a “PR stunt” after the taxi-hailing app company said it would extend its service free to the traditional trade. (http://bit.ly/1TR5w4G)
British Airways is to launch services from Stansted this summer, the first time the flag carrier has operated from the airport. The airline will launch flights at weekends from May 28 to four holiday destinations- Faro, Malaga, Palma and Ibiza. (http://bit.ly/1TR5Hgi)
The Telegraph
The founder of easyJet Plc has accused the budget airline of taking a “scattergun” approach to dividends that confuses investors, ratcheting up the pressure on the carrier just days before its annual general meeting. (http://bit.ly/1TR7NNe)
UK’s communications watchdog is investigating how Vodafone Group Plc handles customer complaints amid fears the telecoms giant could have mishandles disputes. (http://bit.ly/1TR7ZvN)
Sky News
Age UK says it is suspending its fixed-price energy deal with Big Six gas and electricity provider E.ON. The charity said the two-year fixed tariff would no longer be available for new and renewing customers. (http://bit.ly/1TR5kCk)
U.S. Internet tycoon Barry Diller is in advanced talks to sell PriceRunner, one of the first price comparison websites to allow British shoppers to select online deals from leading high street retailers. (http://bit.ly/1TR5rhh)
The Independent
Scotland would see its budget “systematically” reduced by almost 3 billion pounds ($4.34 billion) within 10 years under UK government’s proposed devolution funding settlement, Nicola Sturgeon has said, as she acknowledged that time was running out to reach a deal. (http://ind.pn/1TR89Dn)
via Zero Hedge http://ift.tt/1TS2xZz Tyler Durden