Early Global News

Your First Read of the Day


Early Global News: Friday May 17th, 2019

Early Global News

Friday May 17th, 2019

Macro

U.S.-based equity funds post $12.27 bln outflows amid U.S.-China trade tensions  Reuters

Walmart says higher China tariffs will increase prices for U.S. shoppers  Reuters

U.S. recession risk rises as U.S.-China trade tensions heat up: Reuters poll  Reuters

China shrinks US Treasury holdings to 2-year low  “Lingering trade war fuels speculation of continued sell-off”  Nikkei

Companies

CRAY HPE  Hewlett Packard Enterprise close to buying supercomputer maker Cray  Reuters

GOOGL  Italy’s antitrust opens abuse of dominant position probe into Google  Reuters

HTHIY  Global private equity firms to bid for Hitachi’s chemical unit – sources  Reuters

DB  Investors renew calls for Deutsche Bank to trim investment bank  Reuters

SNE MSFT  Nikkei rises as techs lead gains; Sony jumps on buyback, Microsoft tie-up  Reuters

VALE  Vale warns Brazil prosecutors another dam at risk of collapse  Reuters

BAYRY  Bayer bets on ‘silver bullet’ defense in Roundup litigation; experts see hurdles  Reuters

CHS  Chico’s rejects takeover offer from Sycamore  Reuters

GOOGL  Documents Suggest Google Did Not Investigate Major Leaks  Wired

HTBK  Heritage Commerce Corp and Presidio Bank Announce Agreement to Merge  “Creates the San Francisco Bay Area’s premier community business bank with over $4.0 billion in total assets on a pro forma basis.”  Press Release

Nippon Life to take control of India’s 5th-largest asset manager  “Japan insurer nears deal $640m with debt-laden partner Reliance Capital”  Nikkei

SMH MU AMAT WDC LRCX  Worldwide semiconductor revenues to decline 7.2% in 2019, says IDC  Digitimes

Stake Changes

SBUX LK  Starbucks’ China challenger Luckin raises $561 million in U.S. IPO  Reuters

BX  Marlin Equity Partners Announces Strategic Minority Investment by Blackstone  TASS

DoorDash Seeking Valuation of as Much as $12 Billion in Fundraising  The Information

Chinese State-Owned China Merchants Capital Backs Fresh Supply Chain Provider Jiuye  China Money Network

TEVA  Billionaire Buffett has probably taken $213 million loss on his Teva stock  Haaretz

FSLY  Fastly IPO prices at $16 high end  SEC Filing

Carrefour considers sale of stake in China business: sources  Reuters

Earnings Finance

BIDU  Baidu swings to net loss for first time since listing, shares fall  Reuters

NVDA  Nvidia revenue forecast beats as demand for gaming chip rises  Reuters

BIDU  Baidu posts first loss since IPO as China slowdown hits ads  Financial Times

BIDU  China’s Search Giant Hasn’t Found the Answer for Growth Yet  “Baidu needs to make its core search business work”  WSJ

Pharmaceuticals Healthcare

NVS GSK.L  GSK and Novartis liniment marketing misled Australian consumers: court  Reuters

Bowel cancer rates rising ‘among young adults’  BBC World News

Trump administration backs off a proposal to let Medicare plans exclude certain drugs  Stat

Mental health care accounts for a growing number of private insurance claims, report finds  Stat

ACHN  Achillion Reports Positive Interim Data for ACH-4471 Phase 2 Combination Trial with Eculizumab at The New Era of Aplastic Anemia and PNH Meeting  Press Release

ENDP  Phase 3 Data of Collagenase Clostridium Histolyticum for the Investigational Treatment of Cellulite to Be Presented at The Aesthetic Meeting 2019  Press Release

Entertainment Games

Robert Pattinson to take over for Ben Affleck to play Caped Crusader in The Batman  Daily Mail

NFLX AMZN VIA  Viacom betting big that Pluto TV will rival Netflix, Amazon  NY Post

Battle royale games rake in $2 billion on mobile alone  Cult of Mac

Marketers Are Split on How They Define OTT  “In an Interactive Advertising Bureau (IAB) and Advertiser Perceptions poll, half of US marketers defined OTT as streaming video other than live TV that appears on any screen (mobile, PC, TV, etc.). And 48% of respondents defined OTT as streaming video other than live TV that appears exclusively on a TV screen.”  eMarketer

DIS  Dalian Wanda to build 12bn yuan theme park in Shaanxi  “Property major returns to lucrative business with CCP-themed facility in 2021”  Nikkei

Military Surveillance

GD LMT  F-16 pilot ejects before jet crashes into California building  Reuters

DynCorp Secures Potential $2.4B Army Aviation Field Support Contract for East Region  Cerebrus  GovConWire

HRS  Harris Gets $284M NOAA Contract Extension to Update Weather Satellite Ground System  GovConWire

The Air Force wants to rescue downed pilots with an autonomous aircraft  The Verge

Pentagon seeks to use funds to transport, lodge Taliban members in search of ceasefires  Reuters

Blockchain Bitcoin

Bitcoin extends losses, down more than 20% to below $6,300  Reuters

Exclusive: Banks to invest around $50 million in digital cash settlement project – sources  Banks that had previously disclosed they were working on earlier phases of the project include UBS, Banco Santander, Bank of New York Mellon Corp, State Street Corp, Credit Suisse Group AG, Barclays PLC, HSBC Holdings Plc and Deutsche Bank AG.”  Reuters

Major U.S. retailers are now accepting Bitcoin and other cryptocurrency  Mashable

A large chunk of Ethereum clients remain unpatched  ZDNet

John McAfee to ‘Go Dark’ on Twitter, Setting Off Speculation  Blooomberg

Dark web user gets 42 months in prison for buying child abuse imagery with Bitcoin  The Next Web

Casinos Gambling

Casino shutdown option for Macau CE in emergency says bill  GGRasia

Interblock, Pagcor renew e-game machine deal  GGRasia

MGM China issues US$1.5 bln of new debt to be listed in HK  GGRasia

Gaming Standards Assn marks 10-yr tie to Macau educator  GGRasia

Macau cracks down as 1Q gambling-related crimes up 14pct  GGRasia

Philippine casinos generate US$1bln in 1Q: Pagcor  GGRasia

SJM has know-how to brand Japan via IR: Arnaldo Ho  GGRasia

Macau regulator nods Dynam-Weike slot: firm  GGRasia

El Al launches nonstop flights between Israel and Las Vegas  Times of Israel

Social Media

LINE SNAP  Chat app Line is adding Snap-style disappearing stories  TechCrunch

Thousands of Facebook Groups Go Secret in Fear of the Great ‘Zuccing’  “Mass panic is the reason all of your Facebook groups just went secret.”  Vice

SNAP  Instagram dropping support for its standalone Snapchat-style ‘Direct’ app  9to5Mac

Instagram’s new Explore grid tempts you to open your wallet  Digital Trends

Facebook partners with top ad agencies in India to launch Thumbstoppers 10 second video challenge  TechRadar

Instagram expands its Explore tab with Stories, IGTV, and Shopping  TechRadar

Facebook says it will restore groups infiltrated by saboteurs  The Verge

Travel Hotel

BA  Singapore Airlines says its order for 31 Boeing 737 MAX jets ‘intact’  Reuters

BA  Cuba says Boeing 737 plane crash last year likely due to crew errors  Reuters

UAL DAL  Delta, United poised for most new slots at Tokyo’s Haneda airport  Reuters

BA  Boeing 737 MAX close to returning to service insists company  Slashgear

Auto

NSANY  Nissan says Saikawa retained as CEO, putting focus on Renault ties  Reuters

Air taxi startup Lilium stages test ‘hover’ of five-seater prototype  Reuters

TSLA  Musk to review all of Tesla’s expenses in new cost cutting plan  Reuters

Driverless Electric Truck Starts Deliveries On Swedish Public Road  (default)

Nissan spurns lidar tech, siding with Tesla’s Elon Musk  Automotive News

Nissan, Ford, VW hit as European sales drop 0.5% in April  Automotive News

Chinese NEV Maker SITECH DEV Says It Enters Unicorn Club After Series B Round  China Money Network

U.S. won’t seek cap on car exports from Japan in trade deal despite report, Tokyo’s negotiator says  Japan Times

TSLA  Tesla nerfs Autopilot in Europe due to new regulations  Electrek

TM  Toyota considers offering self-driving technology to ride-hailing firms in Asia  Japan Times

LiDAR Manufacturers Updates: Cepton and AEye Announce New Partnerships; Quanergy Achieves Automotive Standards  LED Inside

Japan vendor reportedly seeking to sell automotive IGBT production lines  Digitimes

Retail

BABA  Consumer bodies seek to force Alibaba portal to honor EU shoppers’ rights  Reuters

(TSN)  Multistate Outbreak of Infections Linked to Contact with Live Poultry  CDC

GIS  Agencies Balk at ‘Insane’ Conditions of New General Mills RFPs  Adweek

New study says processed foods make us crave more calories  Boy Genius Report

YUM  I can’t believe this Taco Bell hotel and resort is a real thing  Boy Genius Report

AMZN  Amazon wades into British food delivery battle with Deliveroo funding  Reuters

The Next Evolution of Online Shopping Is Letting a Bot Buy You Underwear  Gizmodo

BABA  Consumer bodies seek to force Alibaba portal to honour EU shoppers’ rights  “Consumer bodies from Belgium, France, Italy, the Netherlands, Portugal and Spain on Friday urged their national consumer protection agencies to act against Alibaba’s online shopping portal for allegedly setting unfair terms for EU users.”  Reuters

Opinion  WMT  Flipkart buy is injurious to Walmart’s health  Economic Times of India

Apple

Apple overhauls Investor Relations webpage with Newsroom focus, SEC email notifications  9to5Mac

S  Sprint to start selling 5G version of LG V50 very soon  Mashable

TSM  TSMC obtains orders for 5G modem from fabless firms  Digitimes

SVNDY  Japan’s Seven-Eleven stores will sell Apple’s own iPhone accessories  AppleInsider

Energy Commodities

Chailease Energy’s Market Share Gone Above 10%  Trendforce

China scrapped import shipment of American pork in the biggest cancellation in more than a year as US-China trade war escalated  South China Morning Post

CLDPQ KOL  A Major Coal Company Went Bust. Its Bankruptcy Filing Shows That It Was Funding Climate Change Denialism.  The Intercept

OBE  Obsidian Energy Announces Proposed Sale of its 55% Working Interest in the Peace River Oil Partnership  Press Release

Switzerland plans partial privatisation of energy supplier Axpo  Reuters

Opinion  Total CEO says planned buy of Anadarko’s Africa assets ‘perfectly fitting’  Reuters

Metals

Palladium boom gives South African miners only temporary reprieve  Reuters

AA  Aluminium set for strong weekly gain on supply concern  Reuters

Iron ore mine floods in northeastern China trapping nine workers: media  Reuters

US cuts Turkish steel tariffs by half  Financial Times

GLD  New Reality: Gold Has A Chance To Hit $1,400 This Year, Says Scotiabank  Kitco

African Battery Metals completes field operations at Kisinka project  Creamer’s

Billionaire Friedland close to deal with BHP on Guinea iron-ore  Bloomberg

Europe

Trade rhetoric weighs on European shares  Reuters

Brexit referendum more likely if talks collapse, Labour’s Benn says  Reuters

Italy’s Di Maio not worried over possible European sanctions  Reuters

Trump open to talks on US-Swiss free trade deal -Swiss president  Reuters

Eurozone construction output slides 0.3% in March  Teletrader

Eurozone’s core inflation strengthens to 1.3%  Teletrader

China

Chinese firms’ missing $6 billion tests regulators’ resolve  Reuters

China says always wants to resolve disputes through talks  Reuters

Yuan slides past key mark but signs of PBOC vigilance cap losses  Reuters

China evokes patriotism, past wars as trade conflict with U.S. heats up  Reuters

China says economic impact of U.S. trade tensions ‘controllable’  Reuters

U.S. ‘not sincere’ about wanting more trade talks with China: media  Reuters

BABA JD  In China’s heartland, once-flush shoppers turn cautious  Reuters

(CSIQ JKS)  Smog spikes in North China in first four months of 2019: ministry  Reuters

U.S. trade war will only make us stronger, China’s top paper says  Reuters

TUR  China tells Turkey to support its fight against Uighur militants  Reuters

China pushes inter-ethnic marriage in Xinjiang assimilation drive  Channel NewsAsia

A group of superrich investors, spooked by China and the potential for ‘black swans,’ raises cash to levels not seen in years  Marketwatch

INDA  US-China trade tensions may lead to dumping of Chinese goods in India: Ind-Ra  Economic Times of India

Trade war could slice 1 per cent off China’s economic growth, top party official says  South China Morning Post

China Downplays Chances for Trade Talks While U.S. Plays ‘Little Tricks’  “Economic planning agency says ready to add stimulus if needed”  Bloomberg

China’s central bank won’t let yuan weaken past 7 to the dollar: sources  Reuters

Hong Kong property patriarch leaves sons with $64bn question  “Heirs challenged to preserve Lee Shau-kee’s Henderson Land legacy”  Nikkei

Asia

EPHE  Philippines’ drug war commander invites probes into killings  Reuters

EWT  In first for Asia, Taiwan parliament endorses same-sex marriage  Reuters

EWJ  JGBs sag on rebounding Tokyo stocks, weaker U.S. Treasuries  Reuters

INDA  Rupee slips 29 paise to 70.32 vs USD in early trade  Economic Times of India

EWT  Taiwan shares close down 0.86%  Focus Taiwan

EWT  Trade war: why next US tariffs on China could halve Taiwan’s growth  “Taiwanese firms supply 90 per cent of components for laptop PCs made for the three biggest American PC brands, and assemble most PCs in China”  South China Morning Post

INDA  Sensex surges 400 points; 3 reasons for it  Economic Times of India

EWT  Q1 manufacturing output value down 4.95% year-on-year: MOEA  Focus Taiwan

EWJ  Employment rate for Japan’s college graduates close to record high at 97.6% amid labor shortage  Japan Times

EWJ  Kuroda says BOJ may keep low rates well over year, dismisses debt monetization  Reuters

Japan’s Banks Are About to Get Even Feebler  “However the Bank of Japan responds, lenders will be hit by Prime Minister Shinzo Abe’s proposed tax increase”  WSJ

International

EWA  Mining magnate aims to be kingmaker after Australian election  Reuters

ENZL  New Zealand central bank revokes ANZ’s permission to assess operational risk capital  Reuters

Citgo sought contract with Venezuelan drug suspect’s firm -court document  Reuters

ARGT  Cristina Fernandez’s first corruption trial confirmed for next Tuesday  MercoPress

Emerging market currencies suffer worst week since 2018 lira crisis  Financial Times

Russia Ukraine

Ukraine parliament coalition breaks up: speaker  Reuters

U.S. places sanctions on Chechen group, Russians, suspected of human rights abuses  Reuters

Russia will respond to U.S. human rights sanctions: embassy  Reuters

Russian fighter jets scrambled 6 times in last week on interception missions  TASS

Middle East

USO  Trump tells aides he does not want U.S. war with Iran  Reuters

U.S. Congress to get classified Iran briefings next week: sources  Reuters

Iranian missiles can easily reach US ships in Gulf: Guards deputy  Economic Times of India

Africa

Spreading the net: Somali Islamists now target Kenyan recruits  Reuters

With 1,100 dead, Congo’s Ebola outbreak is only getting worse. Now doctors are forced to go undercover.  Washington Post

Climate Change

BP  BP faces investor push to beef up fight against climate change  Reuters

Gray whale deaths on West Coast may be linked to Arctic warmth  Reuters

A Quarter of West Antarctica’s Ice Is Now Unstable, Study Finds  Gizmodo

CNN launches Instagram account on climate to appeal to young voters  Digiday

Medical Marijuana

Drug-driving prosecutions DOUBLE in a year to more than 10,000  Daily Mail

Oregon Wants to Become America’s Source for Cannabis  Leafly

Politics

Flynn detailed attempts to obstruct Russia probe: U.S. court filing  Reuters

U.S. House panel threatens action to get Mueller report documents  Reuters

Flynn gave info on attempts to obstruct Mueller probe: court filing  Reuters

Ex-soldier and WikiLeaks source Manning returned to jail for defying grand jury subpoena  Reuters

U.S. Speaker Pelosi opens door to more funds for border migrant crisis  Reuters

House set to approve sweeping bill to expand gay rights  Boston

Trump Smacks California by Cancelling $929 Million Grant for the Bullet Train  Fortune

Missouri House expected to pass bill outlawing abortions at 8 weeks  NY Post

Pelosi: Trump’s advisers ‘cannot call the authorization for the use of military force’  Politico

Dems agree to billions in humanitarian aid for southern border  Politico

Schiff says DOJ hasn’t complied with subpoena for Mueller report  The Hill

Fact

Cybercrime gang that stole $100M busted in international effort  Digital Trends

Bonds Calling the Shots for Stocks as Rate Cuts Outweigh Trade  ” Markets are pounding the table for a Federal Reserve rate cut”  Bloomberg

Opinion

Comments on April Housing Starts  Calculated Risk

INDA  Non-Modi govt may see 10-15% mkt correction: Chhaochharia  Economic Times of India

Alibaba’s Jack Ma says he is ‘worried’ Europe will stifle innovation with too much tech regulation  South China Morning Post

Linger

KSA  Fiancée of slain writer Khashoggi pleads for US response  Boston

TSN  Tyson lost $2.5 million because, they say, FSIS failed to properly inspect hogs  Food Safety News

GCI TRCO  Gannett and Tribune may restart merger talks after surviving takeover bids  NY Post

Doomsayers Finally Triumph as World’s Most Hated Shares Tumble  Bloomberg

Futurelook

LG’s custom chip is made to power AI in appliances and robots  Engadget

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