Early Global News: Friday January 11th, 2019

Early Global News

Friday January 11th, 2019

Macro

Friday: CPI  Calculated Risk

China to set lower GDP growth target of 6-6.5 percent in 2019 – sources  “China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand.”  Reuters

Companies

BAYRY DWDP  After Monsanto patent ruling, Indian farmers hope for next-gen GM seeds  ” A court ruling in India this week that upheld a Monsanto patent on genetically modified (GM) cotton seeds has raised hopes among farmers that the company would now launch its next-generation seeds, the application for which it pulled two years ago.”  Reuters

BLK  A new $100 million investment values Postmates at $1.85 billion ahead of its IPO  re/code

GOOG  Google’s parent company is facing a lawsuit for its alleged mishandling of an explosive sexual misconduct case  “The lawsuit against Alphabet’s board alleges that Google leadership’s misconduct has caused “severe financial and reputational damage” to the company.”  re/code

JPM  JPMorgan Chase boosting employee bonus pool 3 percent for 2018  Reuters

LNVGY  Lenovo patent hints at a future laptop with a flexible, folding OLED display  Digital Trends

JPM  Russia c.bank says issued warning to JPMorgan’s subsidiary in Russia  Reuters

BBVA  BBVA investigating corporate spying allegations  “Spanish lender BBVA is investigating whether it had hired a company to spy on a would-be buyer and members of the government of former prime minister José Luis Rodríguez Zapatero, the bank said Thursday evening”  Financial Times

TCEHY BABA  WeChat takes on Ant Financial with new, integrated credit scoring system  TechNode

FCNCA FSBS  First Citizens Bank, First South Bancorp, Inc. Announce Merger Agreement  Press Release

AVD  American Vanguard Acquires Brazilian Agricultural Distributor  Press Release

MA V  Meet the New Payment Champions, Same as the Old Ones  “New ways to pay for things still lead back to Visa and Mastercard”  WSJ

AMD TSM  AMD backend orders for new 7nm chips split between 3 firms  Digitimes

ADM FTK  ADM Adds Industry-Leading Citrus Capabilities to Flavor Portfolio with Acquisition of Florida Chemical Company  Press Release

Futurelook  GS  Goldman Sachs on course to launch cash management in mid-2020  Reuters

Stake Changes

LEN  Lennar Announces Stock Repurchase Program, Up to $1.0 Billion  Press Release

American Media Inc. stuns observers with $460M refinance  NY Post

China’s Wanda files for U.S. IPO of sports unit to raise up to $500 million: sources  Reuters

BUD  AB InBev would consider an IPO of its Asian activities, action leaps  “European markets are progressing after Powell’s reassuring remarks and encouraging signals on the trade front. Speculations on an IPO of AB InBev’s Asian activities. Broker’s opinion on Elia, IBA and Intervest. US inflation and British growth on the agenda.”  Lecho

Slack Planning to Pursue Direct Listing  “Messaging company, recently valued at $7 billion, aims to debut in the second quarter”  WSJ

SFTBY  Gaming Spat Deals Blow to SoftBank-Funded Simulation Startup  Bloomberg

Earnings Finance

Investment bank Perella Weinberg plans to name Peter Weinberg as CEO: source  Reuters

General Atlantic names co-heads for financial services -memo  Reuters

ValueAct forces Olympus to appoint foreign directors  Financial Times

AFI  Armstrong Flooring Announces CFO Transition  Press Release

SDRL  Norway’s Seadrill says CFO to step down  Press Release

INFY INDA  India’s Infosys third-quarter profit falls 29.6 percent, misses estimates  Reuters

Pharmaceuticals Healthcare

JNJ  J&J raises U.S. prices on around two dozen drugs  Reuters

OPINION  Opinion: Virtual repurposing can speed the discovery of new uses for existing drugs  Stat

Big pharma raises bet on biotech as frontier for growth  Financial Times

Louisiana adopts ‘Netflix’ model to pay for hepatitis C drugs  Washington Post

Politics  As the 2020 campaign kicks off, Democrats scramble to prove their leadership on lowering drug costs  Stat

Entertainment Games

TIVO  TiVo to launch Apple TV app later this year with live TV support and DVR access  9to5Mac

ATVI  Activision will cut ties with Bungie, give up publishing control of Destiny  Ars Technica

TRCO CHTR  Tribune Broadcasting and Charter Communications Reach Retransmission and Carriage Agreement  

Military Surveillance

White House weighs emergency, Army funds diversion for border wall: reports  Reuters

LAPD Headquarters Cleared After Suspicious Package Prompts Evacuation  Variety

Despite Privacy Concerns, Not Many Want Facial Recognition To Be Regulated  Ubergizmo

Law enforcement agencies squeezed by U.S. government shutdown  Reuters

Blockchain Bitcoin

Research Firm Charts Unspent BTC and Calls a Market Bottom in Q1 2019  Bitcoin Magazine

Bitcoin Tumbles 10%, Ending Nearly a Month of Stable Trading  Fortune

Mongolia emerges as crypto mining hub  “Cheap electricity and cold weather provide ideal environment”  Nikkei

Hit by tougher standards and falling prices, Japan’s cryptocurrency players face a pivotal 2019  Japan Times

Briefing: Chinese authorities to enforce new blockchain regulations in February  TechNode

New blockchain center opens in New York amid cryptocurrency market woes  The Next Web

Drones Robots

Robots can now carry out plutonium production process for space exploration  Digital Trends

Robots and humans must work collaboratively to make our foods safer  Food Safety News

Casinos Gambling

No appetite for hurting Macau casino cash cow: Vickers  GGRasia

Melco Resorts to pay bonus to non-management staff  GGRasia

AGEM Index slips 5 mths in row, down 9pct December  GGRasia

WYNN MGM MLCO  Cotai LRT plus for Melco, Wynn, MGM and Galaxy: Nomura  GGRasia

WYNN  Mass. completes Steve Wynn ‘sexual misconduct’ probe  GGRasia

Jury out on China reserve ratio cut aiding Macau gaming  GGRasia

Social Media

TWTR  After a scandal-ridden presidency, Jacob Zuma thinks Twitter can reinvent his image  Quartz

GOOGL  YouTube Premium remains small potatoes for video publishers  Digiday

TWTR  Twitter Users in China Face Detention and Threats in New Beijing Crackdown  NY TImes

FaceBook

Facebook bans Philippines’ Twinmark Media Enterprises  Reuters

Social media giants plan push-back on India’s new regulations: sources  Reuters

At least 10 reports of scams involving takeover of WhatsApp accounts in January: Police  Channel NewsAsia

Facebook bans Philippine ‘fake accounts’ group followed by millions  AFP

Facebook Rolls Out Fact-Checking Operation In The UK; Partners With Charity Full Fact  Deadline

Travel Hotel

Lessors to India’s troubled Jet Airways consider taking back planes -sources  Reuters

TSA Agent Sick-Outs Amid Government Shutdown Are Forcing Miami Airport to Cut Back Terminal Service  Fortune

EWJ  Tourists to Japan hit record 31 million in 2018, helped by easier visas for visitors from India, Russia and others  Japan Times

CTRP  China’s Ctrip faces turbulence in journey to the top  “Online travel giant forced to fend off rising tech rivals in uncertain economic times”  Nikkei

Brazil airline Gol raises leverage, margin projections to 2020  Reuters

Auto

Nissan has canceled lease on Ghosn’s Tokyo apartment: Ghosn lawyer  Reuters

TSLA GM  GM’s Cadillac will introduce EV in fight against Tesla – sources  Reuters

F QCOM  Ford and Audi Partner With Qualcomm to Demo 5G Cars That Talk to Stoplights  Adweek

TSLA  Tesla is preparing to make Model 3 more annoying but safer with noise machine  Electrek

DMLRY GELYY  China’s Geely denies Bloomberg report, says has not sold shares in Daimler  Reuters

DMLRY GELYY  Geely cuts its Daimler stake by more than half – Bloomberg  Reuters

BAMXY  BMW says group sales up 1.1 percent in 2018  Reuters

SFTBY  Indonesia’s plans to regulate ride-hailing rates threaten Grab, Go-Jek models  Reuters

RNLSY  Ghosn’s Renault lieutenant drew extra salary via holding – documents  Reuters

SAN  How Santander’s Brazil unit is driving growth with car loans  Reuters

SFTBY  South Korean cabbies are lighting themselves on fire in protest of a ride-sharing app  Boy Genius Report

VLKAY  Volkswagen sets new full-year sales record in race for No 1  AP

TM  Lexus LC Convertible Concept is likely headed for production  Autoblog

Retail

PVH  Calvin Klein, Inc. CEO Outlines Strategic Changes to the Brand and Organization  Press Release

Opinion  VNO SPG MAC M  Strong Economy Can’t Save Retailers From Holiday Blues  “Department stores, mall chains continue to lose customers to discounters and e-commerce”  Wall Street Journal

Linger  Study details how high fiber diets make for healthier lives  Reuters

Apple

Mac shipments dropped nearly 4% YOY during the holiday quarter, Gartner estimates  Gartner

Apple sees Mac sales dip, marketshare increase in Q4 PC industry estimates  “Compounding problems stemming from soft iPhone sales, Apple may have seen Mac shipments decline in the December quarter, early research estimates indicated on Thursday. “  AppleInsider

China retailers slash iPhone prices after Apple sales warning  Reuters

Oppo will start selling phones in the UK this month  The Verge

China Pledges To Grant Temporary 5G Licenses For Commercial Use In 2019  China Money Network

Apple Plans New LCD iPhone This Year Despite XR’s Stumble  “Three new iPhone models planned for 2019, including one with a triple rear camera”  WSJ

DNA(HEL)  DNA acquires Moi Mobiili  Finland  Press Release

Energy Commodities

BBU_U.TO  China’s fourth Westinghouse-designed nuclear reactor begins operations  Reuters

VWDRY TPIC  TPI to Open New Wind Blade Manufacturing Hub in India and Signs Blade Supply Agreement with Vestas  Press Release

KML.TO  Canada regulator issues draft conditions in oil pipeline review  Reuters

USO  Brent crude price exceeds $62 per barrel for the first time since December  TASS

HITHY  Hitachi says ‘no decision’ made on UK nuclear plant  BBC World News

CKH  A wholly owned subsidiary of SEACOR Holdings Inc. announced today that a subsidiary, CLEANCOR Equipment Solutions LLC, has acquired substantially all of the assets of GreenFix America  Press Release

HTHIY  Hitachi to suspend all work on UK nuclear plant  “Funding deadlock looks set to sink Japan’s last overseas nuclear project”  Nikkei

VWDRY  Vestas receives 101 MW order for V120-2.2 MW turbines featuring the tallest towers in China  Press Release

Linger  XOM  Exxon ships have not returned to area of Venezuela dispute -Guyana  Reuters

Metals

Gold prices inch up as dollar softens on Fed rate outlook  Reuters

Newmont cuts 120 jobs at Nevada gold mining operation  Reuters

Slowdown triggers earnings cuts with no bottom in sight yet  “Falling prices should ideally lead to production cuts by high-cost producers, bringing equilibrium to the market”  Livemint

Canada working to put pressure on Trump over metals tariffs: PM  Reuters

BKLRF  Berkeley shares surge on media reports  “The share price of junior Berkeley Energia jumped by more than 63% on Friday, following media reports that its Salamanca uranium project, in Spain, had been approved.”  Creamer’s

Posco chief says no plans for overseas investment in steel sector  Korean Herald

Opinion  Gold prices may hit five-year high this year, forecasts Goldman Sachs  Livemint

Europe

EWU  Leading Brexit donors say Britain will reverse decision to leave EU  Reuters

EWU  UK risks Brexit paralysis and possibly no Brexit at all: foreign minister  Reuters

GREK  Greek PM to seek support from ally to avert snap election  Reuters

EWQ  French Yellow Vest Protesters Urge Supporters To Spark Bank Run With Mass Withdrawals  Zero Hedge

EWU  UK manufacturing slump drags down GDP growth, official figures show  “The Office for National Statistics (ONS) reported that the sector contracted by 0.3 per cent in the month, with a poor performance by the car industry and pharmaceuticals highlighted by the Office for National Statistics.”  Independent

EWU  Industrial production in the United Kingdom fell by 1.5 percent year-on-year in November of 2018, following an upwardly revised 0.9 percent decrease in the previous month and above market expectations of a 0.7 percent drop  Trading Economics

EWU  UK economic growth hits six-month low  BBC World News

Linger  EWG GEK  Greece says it has grounds for war reparation claim against Germany  Reuters

China

U.S. expects China’s top trade negotiator to visit ‘most likely’ this month  Reuters

EPOL  Poland arrests Chinese Huawei employee, Polish national over spying allegations  Reuters

Hong Kong’s rural hinterland could hold key to chronic land crunch  Reuters

China could lift life expectancy by nearly three years if it meets WHO smog standards: study  Reuters

Chinese investors ‘facing severe situation in the US’  “Chinese government think tank now sees US investment environment as on par with Russia and Poland”  SCMP

China pledges easier foreign tourist access to Tibet amid U.S. pressure  Reuters

Sinaloa Drug Cartel Uses Chinese Chemicals To Fuel America’s Opioid Crisis  Zero Hedge

An unsecured database exposed the personal details of 202M job seekers in China  TechCrunch

Opinion  China and slow growth may keep the punchbowl brimming  Reuters

Asia

EWT  Taiwan to appoint new premier, Cabinet after resignations over poll defeats  Reuters

‘The whole country is a prison’: No sign of better rights in North Korea – U.N.  Reuters

EWJ  Korea’s exports fall 7.5% in first 10 days of January  Korean Herald

INDA  Foreign investors seen making a comeback in India in 2019  Livemint

TRI  Myanmar court rejects appeal by jailed Reuters reporters  Reuters

EWT  Taiwan shares close up 0.4%  Focus Taiwan

EWM  Malaysia November industrial output growth beats view  “Pace slows sharply on month due to fewer working days, supply outages”  Nikkei

EWT  Taiwan GDP growth to slow to less than 3% in 2019  “Domestic and international economic institutes have projected Taiwan’s GDP growth at 2.15-2.41% and export expansion at 2.95-3.55% for 2019, all lower than recorded in 2018.”  Digitimes

EWT  Lackluster iPhone sales seen to affect Taiwan export, economy  Digitimes

Linger  Japan says South Korean president’s remarks on forced labor issue ‘regrettable’  Reuters

International

ARGT  Tens of thousands march in Argentina against Macri’s austerity  Reuters

ARGT  Argentine forex market volatility: Central bank intervenes to prop the dollar, first time in seven months  MercoPress

TUR  Turkey orders arrest of more than 100 military suspects over suspected Gulen ties  Reuters

Sudan organisers urge nationwide protests next week  AFP

Russia Ukraine

Treasury’s Mnuchin defends U.S. decision to lift sanctions on Russian firms  Reuters

Doping: Russia should be suspended until tests completed – USADA  Reuters

Moscow demands U.S. explain charges against Russian Trump Tower lawyer  Reuters

Russia to continue cooperation with Venezuela — Foreign Ministry  TASS

Russia Accuses U.S. of ‘Shameless’ Meddling in Venezuela  Moscow Times

Russia may free jailed Ukrainian sailors in swap deal – Izvestia  Channel NewsAsia

Russia: Talk of spy swap with former U.S. marine is false  Jerusalem Post

Isis Terror

U.S. military moving forward on Syria withdrawal plans  Marketwatch

TUR  Erdogan To Trump: Leave Syria Now Before We Strike  Zero Hedge

Climate Change

World’s oceans are heating up at a quickening pace: Study  AFP

Highest figures of hazardous ozone in two decades recorded in Hong Kong in 2018, despite overall improved air quality  South China Morning Post

Medical Marijuana

OPTEC International to Sell Pro-Sun Horticultural LED Grow Lamps as the US Congress Passes Farm Bill  (default)

Linger  Smoke and Mirrors: Massachusetts’ Recreational Cannabis Industry Navigates Tricky Regulatory Terrain  Fortune

Economics

Even in the U.S., poor women often can’t afford tampons, pads  “Obstetrics & Gynecology”  Reuters

The stock market just got off to its best start in 13 years  Marketwatch

NewsWatch: Dow and S&P escape correction territory after 5-day stock-market surge  Marketwatch

Investors plow billions into stocks, bonds and EM assets as risk appetite returns: BAML  Reuters

Politics

Trump’s attorney general nominee to recuse from AT&T-Time Warner appeal  Reuters

Republican Senator Graham: Trump should use emergency powers to fund wall  Reuters

Republicans slam Rep. King for what they call racist remarks  Boston

How a failing Trump could get re-elected in 2020  Haaretz

Border Patrol agents unintentionally debunked Trump’s case for the wall  Quartz

‘Brought to Jesus’: the evangelical grip on the Trump administration  The Guardian

Gillibrand to visit Iowa amid 2020 speculation: report  The Hill

Stephen Colbert got Kamala Harris to give the strongest hint yet that she may run for president in 2020  Business Insider

Now on Craigslist, Facebook: Household items from furloughed federal workers trying to make ends meet  Washington Post

Exasperated Democrats try to rein in Ocasio-Cortez  Politico

Legal obstacles await if Trump declares emergency to build wall  The Hill

States, cities gear up for Census with billions of dollars at stake  The Hill

Linger

U.S. lawmakers demand accountability for killing of Saudi journalist  Reuters

IPG OMC WPP  PR agencies cope with change as more brands take PR in-house  Digiday

INSG  Battle for connected home seizes the stage at CES  Financial Times

U.S. Catholics’ Faith in Clergy Is Shaken  Gallup

Head of Japan’s Olympic Committee indicted in France: source  Reuters

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