- Republican Tax Plan Hits First Hurdle (WSJ)
- A $6.4 Billion Windfall Awaits Big U.S. Banks in Trump’s Tax Cut (BBG)
- How Does the Trump Tax Plan Affect You? WSJ Answers Your Questions (WSJ)
- Twitter suspends Russia-linked accounts, but U.S. senator says response inadequate (Reuters)
- Flight ban on Iraqi Kurds imposed after independence vote (Reuters)
- Elon Musk’s New Vision: Anywhere on Earth in Under One Hour (BBG)
- Kurdistan region refuses to hand over border crossings to Iraqi government: Rudaw (Reuters)
- Independence Vote Tests Catalonia’s Police Force (WSJ)
- Uber CEO Khosrowshahi to Visit U.K. to Rescue London License (BBG)
- Chinese Money Is Still Leaking Into the World’s Housing Markets (BBG)
- Russia accuses CNN International of violating Russian media law (Reuters)
- Dems on Trump’s Voter Fraud Panel Push Back (BBG)
- Schumer says senators close to bipartisan deal on health exchanges (Reuters)
- VW’s dieselgate bill hits $30 billion after another charge (Reuters)
- VW Takes New $2.9 Billion Hit From Diesel Scandal (WSJ)
- Iron Ore Becomes Punch Bag as China Concerns Drive 20% Collapse (BBG)
- U.S. visas to six Muslim nations drop after Supreme Court backs travel ban (Reuters)
- P&G CEO Blasts Nelson Peltz as Tensions Mount Over Board Vote (BBG)
- Lyft IPO puts investors in self-driving cars as well as ride services (Reuters)
- World’s Biggest Oil Company Promised Expats Idyllic Lifestyle—Then Fire Erupted (WSJ)
- Chaos and hackers stalk bitcoin investors (Reuters)
Overnight Media Digest
WSJ
– A day after announcing their tax plan, Senate Republicans debated scaling back one of their largest and most controversial proposals to pay for lower tax rates – repeal of the individual deduction for state and local taxes. on.wsj.com/2yJB9qV
– Twitter Inc on Thursday offered its first public information on Russian use of its platform during the U.S. presidential election, but its limited disclosure only fueled criticism from lawmakers who are pushing for greater transparency from internet companies over how their platforms are manipulated. on.wsj.com/2ycE5iG
– China will force auto makers to accelerate production of electric vehicles by 2019, a move that will ripple around the globe as the industry bends to the will of the world’s largest car market. on.wsj.com/2x0wE9d
– Eight months after Toshiba Corp said it wanted to sell part of its memory-chip unit, it finally signed a $18 billion deal on Thursday with a buyer group which is led by Bain Capital LLC and will get financing from Apple Inc, South Korean chip maker SK Hynix Inc and other technology companies. on.wsj.com/2xHcRxo
– Chevron Corp on Thursday named Michael Wirth as its next chief executive who will be succeeding John Watson on Feb. 1. on.wsj.com/2xFAfeZ
– The U.S. Supreme Court said Thursday it would consider whether public employees can be required to pay union dues, revisiting an issue that deadlocked the court after Justice Antonin Scalia’s death last year. on.wsj.com/2yKMvL3
FT
Prime Minister Theresa May is being urged to deliver on her promise to cut energy bills for 17 million households in a cross-party letter signed by nearly 200 MPs, including 76 Conservatives.
Brompton issued a voluntary recall of 144,000 of its folding bicycles saying all of its bikes manufactured between April 2014 and May 2017 contained axles that had shown a higher than expected failure rate.
The UK Financial Conduct Authority said on Thursday there was no justification for any changes to the rules governing asset managers, firing a salvo against an attempt by European regulators to shake up the rules after Brexit.
Lawyers representing two Uber drivers argued in front of an employment tribunal on Thursday that the ride-hailing firm is an employer and not just an agent connecting drivers to passengers as the company sets the fees, determines the routes for the driver and adjudicates when passengers complained about the journeys
NYT
– Chevron Corp on Thursday said Michael Wirth, a career Chevron employee with long experience in pipelines and refineries, will succeed John Watson as chairman and chief executive in February. nyti.ms/2xKgWCW
– Flights were delayed and travelers struggled to check in at airports around the world on Thursday after a software program Altea, used by several major airlines went down. nyti.ms/2fvNSF8
– Rovio Entertainment Ltd, the company behind the Angry Birds empire, was valued at about $1 billion as it prepared to go public on Friday. nyti.ms/2xOiuw4
– Toshiba Corp said it had signed a deal to sell 60 percent of the microchip unit to a group of international investors that includes Bain Capital and Apple Inc. The deal will net Toshiba about $14 billion. nyti.ms/2fBloNW
– New legislation backed by Australia’s governing Liberal party would eliminate restrictions separating broadcast media from print media and would allow media companies to own more outlets in a city. nyti.ms/2ycvtZd
Canada
THE GLOBE AND MAIL
** U.S. President Donald Trump’s negotiators tabled stringent Buy American demands at the NAFTA talks in Ottawa that would drastically curtail bidding by Canadian companies on U.S. government-funded infrastructure projects. tgam.ca/2hA4VdC
** Unifor officials and senior General Motors Co executives held what a union leader called a productive two-hour meeting Thursday in Detroit in an attempt to end an 11-day-old strike at the auto maker’s Cami Automotive assembly plant in Ingersoll, Ontario. tgam.ca/2hAU3MC
** The reborn Stelco Inc plans to return to profitability by muscling back into the market for automotive steel, but its attempt to grab back auto business comes as vehicle sales and production begin sliding from their current peak. tgam.ca/2hC0ZZC
NATIONAL POST
** Polls by Forum Research suggest Ontario Premier Kathleen Wynne’s ongoing war on economists is paying dividends. bit.ly/2hASw9e
** The number of public proxy contests undertaken in Canada may be on the decline, but that doesn’t mean activism is having less of an impact on Canadian companies according to a report by Kingsdale Advisors. bit.ly/2hBMbuh
** Internet experts are questioning Canada’s new funding framework for the cultural sector. Experts are skeptical of the announcement which was made by Canada’s Heritage minister Melanie Joly as it lacked any funding for news organizations. bit.ly/2hCdbtj
Britain
The Times
Palmer & Harvey is close to striking a takeover deal with Carlyle, the U.S. buyout firm, after securing emergency funding from two of its main suppliers. bit.ly/2fvLo9O
BT Group Plc could be forced to stump up an extra 2 billion pounds ($2.69 billion) over the next two years to reduce its growing pension deficit, posing a cashflow problem for the telecom group, a leading credit rating agency has warned. bit.ly/2xFnj8G
The Guardian
The British manufacturer Brompton has embarked on an unprecedented recall of nearly 150,000 of its folding bikes over concerns about faulty axles. bit.ly/2ywyEHh
Lloyd’s of London, the world’s biggest insurance market, has started paying out the first of $4.5 billion of claims related to tropical storm Harvey and Hurricane Irma, which wreaked havoc in the southern U.S. and Caribbean. bit.ly/2yvVUVT
The Telegraph
The future of Ford Motor Co’s Bridgend plant has been thrown into further doubt after luxury car maker Jaguar Land Rover revealed it was bringing forward the end of a contract to produce engines at the Welsh site. bit.ly/2xB1xp6
Theresa May said Transport for London’s decision to stop Uber Technologies Inc operating in the capital has “damaged lives” and called the ban “disproportionate”. bit.ly/2k4PL0w
Sky News
Pension trustees at Carillion Plc the crisis-hit construction group, have called in the world’s largest audit firm to advise them amid a massive financial restructuring. bit.ly/2ydlYZO
The head of UK’s aviation regulator has told Sky News that he takes a promise by Ryanair Holding Plc to meet its obligations over mass flight cancellations “with a pinch of salt”. bit.ly/2k4QiQ4
The Independent
Royal Mail Plc is seeking to employ 20,000 temporary workers to help sort the Christmas post and manage an increasing amount of online Christmas shopping, the company has said. ind.pn/2yKZ6Oy
Nearly a third of all UK electricity came from renewable sources in the second quarter of this year, setting a new record for clean energy generation, the government said. ind.pn/2fBcqAb
via http://ift.tt/2xCuYXS Tyler Durden