Frontrunning: October 4

  • WikiLeaks’ Assange signals release of documents before U.S. election (Reuters)
  • Kaine and Pence Look to Assure (and Attack) at Vice-Presidential Debate (BBG)
  • Pound tumbles to 31-year low, Deutsche Bank bounces (Reuters)
  • Trump Digs In Over Tax Disclosure (WSJ)
  • Oil eases as Iran, Libya output rises hit OPEC deal momentum (Reuters)
  • Hurricane Matthew slams into western Haiti with deadly waves (Reuters)
  • The Supreme Court Will Hear Its First Insider-Trading Case in 20 Years (BBG)
  • Global Inflation Falls to Seven-Year Low (WSJ)
  • Boeing’s Unique Accounting Method Helps Improve Profit Picture (WSJ)
  • Manhattan Apartment Sales Plunge 20% as Homebuyers Get Pickier (BBG)
  • Coming Soon to Chinese Movie Theaters: Mergers and Acquisitions (WSJ)
  • Science of ‘exotic’ states of matter lands Nobel physics prize (Reuters)
  • Italy Markets Debut 50-Year Bond (WSJ)
  • Existential Threat to World Order Confronts Elite at IMF Meeting (BBG)
  • JPMorgan prepares to pull Chase ATMs from Walgreens stores (Reuters)
  • Iran Prepares for an Uptick in Tourism (WSJ)
  • Google expected to unveil new phones at San Francisco event (Reuters)

 

Overnight Media Digest

WSJ

– Bass Pro Shops struck a deal to buy Cabela’s Inc for about $4.5 billion in cash, uniting two of the biggest sellers of outdoor sports gear. http://on.wsj.com/2cPevB1

– Janus Capital Group Inc will sell itself to British rival Henderson Group Plc, in an effort to help it compete with increasingly popular low-cost providers, for an all-share deal valued at $2.61 billion. http://on.wsj.com/2cPdWHD

– Tenet Healthcare Corp said it would pay the federal government and the state $514 million to settle allegations of kickbacks by its hospitals in Georgia and South Carolina for referrals. http://on.wsj.com/2cPd0CU

– Gawker Media LLC plans to set aside at least $5.5 million from the sale of its websites to fund its legal battle against wrestler Hulk Hogan. http://on.wsj.com/2cPeCgg

– Facebook Inc is in talks with several countries for trial broadcasts of internet content from highflying drones, underscoring the social media company’s push to provide bandwidth to poorly connected parts of the globe. http://on.wsj.com/2cPf6TA

 

FT

The United States broke off talks with Russia on Monday on implementing a ceasefire agreement in Syria and accused Moscow of not living up to its commitments under the Sept. 9 deal to halt fighting and ensure aid reached besieged communities.

British finance minister Philip Hammond vowed on Monday to protect the economy from any turbulence during negotiations to leave the EU, as sterling fell on worries the country is heading towards a disruptive divorce with its biggest trading partner.

British factory activity grew at the fastest rate in more than two years last month, boosted by a surge in export orders after sterling slumped following June’s referendum vote to leave the European Union, a survey showed on Monday.

London-based asset manager Henderson Group agreed to buy U.S. rival Janus Capital Group Inc on Monday in a deal that is expected to fire the starting gun on a raft of defensive deals in the sector as investment houses battle with pressure on fees and rising regulatory costs

 

Britain

The Times

Deutsche Bank’s chief executive was criticised by Germany’s deputy chancellor yesterday for blaming speculators for the bank’s plight, as hopes faded for a quick settlement of a $14 billion fine in the US for mis-selling. http://bit.ly/2dmGuP5

The pound fell back towards a three-decade low against the dollar yesterday, hit by surprisingly strong U.S. economic data and in the wake of Theresa May setting out a timetable for Brexit. http://bit.ly/2dmGqiq

The Guardian

The stamp collecting firm Stanley Gibbons has slumped to a 29-million-euro annual pre-tax loss and detailed a litany of financial woes after discovering “fundamental errors” in the company’s accounts. http://bit.ly/2dmGfDE

Britain is missing out on billions of pounds in exports every year because of a failure to help small and medium-sized companies crack new markets, according to an analysis that highlights firms’ worries about exporting after Brexit. http://bit.ly/2dmG7E7

The Telegraph

UK manufacturing activity grew at the fastest pace in more than two years in September, as the weak pound helped the sector to cement its strongest quarter of growth this year, according to a closely watched survey. http://bit.ly/2dmGmin

AstraZeneca has won a major victory in the UK after the country’s drugs watchdog approved one of the most important cancer drugs in its oncology portfolio. http://bit.ly/2dmHi6z

Sky News

The Government has set out details to tackle the housing shortage by building 25,000 new homes using a 3 billion euros Home Building Fund. http://bit.ly/2dmHxOU

The British-based healthcare conglomerate Bupa is weighing a takeover bid for Oasis, the dentistry chain, in a move that would create a private sector powerhouse. http://bit.ly/2dmHiUe

The Independent

Oil prices climbed to their highest level since August supported by the global market renewed optimism that OPEC’s production deal reached last week would bring an end to sub-$50 a barrel oil. http://ind.pn/2dmHOkU

Henderson Group and Janus Capital Group will merge as both companies seek to revive asset growth and profit. http://ind.pn/2dmHp1J

 

via http://ift.tt/2dFdpIZ Tyler Durden

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