Early Global News: Tuesday May 14th, 2019

Early Global News

Tuesday May 14th, 2019

Macro

Senior administration officials tell Axios that a trade deal with China isn’t close and that the U.S. could be in for a long trade war.  “A senior administration official said the differences between the two sides are so profound that, based on his read of the situation, he can’t see the fight getting resolved before the end of the year.”  Axios

Tuesday: NY Fed Quarterly Report on Household Debt and Credit, Small Business Index  Calculated Risk

Companies

BAYRY  Couple Awarded $2 Billion in Roundup Trial, Jury Says Weed Killer Contributed to Their Cancer  Fortune

JPM GM  Long fight over error in JPMorgan loan to GM settles for US$231 million  Channel NewsAsia

LRCX MU WDC INTC AMAT SSNLF MU  YMTC to Mass Produce 64-layer 3D NAND Products By This Year End, Feared to Impact NAND Flash Prices Upon Expansion 2020, Says TrendForce  Trendforce

ADBE  Adobe Photoshop For iPad Beta Signups Are Now Open  Ubergizmo

AD5B (FRA)  Adevinta CEO seeks to overcome soft online ad markets  Reuters

CVS AET  U.S. judge calls hearing on merger of CVS and Aetna -court filing  Reuters

GLW  Apple Supplier Corning Announces ‘Astra Glass’ that could be used for future iPads, MacBooks and 8K TVs  Patently Apple

GS  Goldman Sachs bought Commerzbank’s claim in Saudi’s biggest debt saga: sources  Reuters

German shipping company Schulte Group sets up investment arm  Tech in Asia

BIDU  Baidu‘s education business shifts from consumer-facing to enterprise  TechNode

AUO  AUO to unveil full screen optical in-cell fingerprint LTPS LCD  

CREE GE FWB: OSR PHM  China-made LED lighting prices to rise 5-8% in US due to tariff hike  Digitimes

High-capacity SSD prices to reach record low  DRAMeXchange

QUCCF  Quanta warns shifting out of China may be ‘no cheaper’ than tariffs  “MacBook maker cites logistical costs, lack of supply chains as hurdles to dodging trade war”  Nikkei

SBGI DIS  Sinclair sports deal proving a tough sell to lenders  NY Post

C  Citigroup look to vastly expand India reach with Paytm tie-up  Reuters

Stake Changes

Lotte invests cumulative $4 bln in US  Korean Herald

Should Grab spin off its financial services?  Tech in Asia

Impossible Foods raises $300m from Temasek, Horizon Ventures, others  Tech in Asia

NVDA  Nvidia, HP Back Data Storage Startup WekaIO  CTech

Searchlight Reaches Agreement to Acquire Controlling Stake at Bezeq  CTech

GO  Discount grocery chain Grocery Outlet Holdings files for a $100 million IPO  SEC Filing

JMP  JMP Group Announces Self-Tender Offer  Press Release

BX  Blackstone eyes ‘IPO on the horizon’ for CIRSA  SBC News

SFS APO  Funds Managed by Affiliates of Apollo Global Management Announce Commencement of Tender Offer for All Outstanding Shares of Smart & Final  Press Release

FSS  Federal Signal to expand its specialty vehicle platform by executing agreement to acquire Mark Rite Lines Equipment Company, Inc.  Press Release

Israel’s life sciences firms said to raise record $1.5 billion in 2018  Times of Israel

Earnings Finance

TAK  Takeda promises more cost savings from Shire acquisition  “Japanese drugmaker forecasts sales jump and lower profit in ‘critical’ 2019”  Nikkei

SGMO  Sangamo Therapeutics CFO Departs  StreetInsider

HAE  Haemonetics To Transfer Union, South Carolina, Manufacturing Facility To CSL Plasma Inc.  Press release

ANF  Abercrombie & Fitch COO Crevoiserat to leave company as role is eliminated  Press Release

Pharmaceuticals Healthcare

Antibiotics after birth halves rate of infection, Oxford study finds  The Telegraph

RHBBY ONCE  Roche pushes back Spark takeover again as regulatory review drags on  Reuters

Monday’s story  Low-dose aspirin may be linked to bleeding in the skull, new study finds  USA Today

Entertainment Games

T  WarnerMedia may stream show debuts before they reach TV  Engadget

T  Rami Malek Eyed to Co-Star With Denzel Washington in ‘Little Things’  Variety

GE  GE joins Atlantis to move world’s biggest tidal turbine to market  ReCharge News

Thaksin seeks to buy Premier soccer team, shrugging off political woes  “Thailand’s self-exiled former PM in talks with debt-laden Crystal Palace”  Nikkei

Military Surveillance

BA  Aircraft shortages and a lack of trained instructors adds years to military pilot training  England  The Telegraph

NOC RTN LMT  US military spending up for first time in 7 years  Korean Herald

BAESY  Jeremy Hunt: UK must double defence budget in decade after Brexit  England  The Guardian

Blockchain Bitcoin

Bitcoin hits $8,000 five days after cracking $6,000  Ars Technica

MSFT  Microsoft Wants to Protect Your Identity With Bitcoin  Wired

Bitcoin is Worthless, Says Shark Tank’s Kevin O’Leary  WebProNews

Casinos Gambling

Daisy Ho of SJM Holdings is G2E Asia 2019 key speaker  GGRasia

Philippine gaming up faster than Vegas, Macau: analyst  GGRasia

RWM to deliver sustainable EBITDA growth: CEO  GGRasia

Suncity listco unit to manage Hoaina casino in Vietnam  GGRasia

MGM  MGM, Orix to submit proposal for Osaka casino RFC phase  GGRasia

Iowa signs sports betting and fantasy sports bill into law  USA Today

New York surpasses $10 billion in lottery sales and net revenue, a first for the nation  Business Journals

U.S. casinos pledge responsible marketing rules for sports betting  Reuters

Social Media

SPOT  Spotify Will Soon Be Getting Its Own ‘Stories’  Ubergizmo

VUZI  Vuzix and Plessey Confirm Long-Term Partnership for Micro LED AR Smart Glasses  LED Inside

FaceBook

WhatsApp discloses vulnerability that allowed Israeli spyware to be installed on iPhones  9to5Mac

Facebook facing 20-year consent agreement after privacy lapses: Source  “The social media giant Facebook Inc is headed toward an agreement with the U.S. government over its privacy policies and practices that would put it under 20 years of oversight, according to a source knowledgeable about the discussions.”  Reuters

Biden says he’d be open to breaking up Facebook  The Hill

You’ve Got a WhatsApp Notification: You May Have Been Hacked  Fortune

Auto

TSLA  Tesla announces final offer to acquire battery company Maxwell  Electrek

VLKAY  Volkswagen shares up 2.7% in early trade on truck listing plans  Reuters

U.S. faces hurdles in push to build electric vehicle supply chain  Reuters

JD  JD Logistics Pours $54M Into Xinning Logistics To Join Forces In Internet Of Vehicles  China Money Network

HYMTF  Hyundai invests $90M in Croatian startup Rimac to build an electric super-hatch  Digital Trends

LYFT  Lyft also trying out PIN-based airport pickups in Portland  Engadget

IBM  IBM, VW launch partnership to use cloud to streamline financial processes  Automotive News

TSLA  Tesla increases price of all Model 3 variants, even ‘off-the-menu’ base model  Electrek

NSANY  Nissan says operating profit will fall to lowest in more than a decade  Financial Times

Ford assets in Brazil to be acquired by Chinese businesspeople  MercoPress

BYDDY  BYD says subsidy cuts won’t impact China’s NEV industry growth  TechNode

DMRLY  Daimler Plans to Make Its Cars Carbon Neutral by 2039  Wired

Retail

LNVGY  Lenovo shows off a folding-screen laptop, coming some time in 2020  Ars Technica

AMZN BABA  Amazon extends lead as top retail brand in Kantar/WPP survey  Reuters

AMZN  Amazon deliveries coming to hundreds of Next stores in brand new service  “Launching at hundreds of Next stores in the UK, shoppers who use the new system – called Amazon Counter – will be able to choose a pick-up point when they reach the check-out on the Amazon website.”  The Mirror

Walmart takes shot in shipping wars by announcing free ‘NextDay’ delivery  USA Today

U.S. retailers revamp loyalty schemes for Amazon era  Reuters

FRCOY  Uniqlo hack: 460,000 accounts compromised on Japanese sites of Asia’s biggest retailer  South China Morning Post

UL AVP  Unilever looks to acquire more premium beauty brands as it seeks to grow online business  Digiday

AMZN  In an Unusual Move, Amazon Debuts Its New ‘Counter’ Offering Outside the U.S.  Fortune

BABA  Alibaba expands AliExpress footprint  China Daily

WMYT  Walmart International CEO Says It’s Moving On After a Major U.K. Setback  Fortune

BBY  U.S. prepares to slap tariffs on remaining Chinese imports  “The additional tariffs, if approved, could be a seismic jolt to the global economy and raise prices for everyday products such as cellphones, sunglasses, cameras and TVs.”  Washington Post

Apple

Boost Mobile informs customers about a data breach — two months ago  Engadget

S TMUS  T-Mobile and Sprint Consider Concessions to Save Their Merger  Bloomberg

A New BlackBerry Device Codenamed ‘Monet’ Could Be In The Works  Ubergizmo

Apple won 51 Patents today covering 3D Fabric Items & Accessories, Vehicle Doors & Windows for Project Titan, more  Patently Apple

VOD  5G mobile: Our network will switch on in July, says Vodafone  ZDNet

3:45 pm Monday  Tariff on Apple Chargers and Cases Jumps Now at 25%  MacRumors

Energy Commodities

Ardian close to buying Cerberus-owned wind farms in Spain- sources  Reuters

USDA quarterly report spotlights violations by some of biggest meat and poultry concerns  Food Safety News

KSA  Saudi’s Falih says oil pumping stations hit by explosive-laden drones  Jerusalem Post

Global cumulative PV capacity may reach 1.3 TW in 2023, SolarPower Europe says  Pv magazine

LNG  U.S. LNG companies Cheniere and Tellurian see U.S.-China trade spat as short term  Reuters

SAV (LON)  Savannah eager to benefit from France, Germany battery consortium  Creamer’s

BHP admits to ‘over-investing’ in Canada mine, but says Jansen remains attractive  potash  Creamer’s

Global energy investment out of step with security of supply, climate needs  Creamer’s

KKR  KKR and Spur Energy Partners Form Partnership to Pursue Oil and Gas Opportunities  “New Partnership to Acquire Permian Northwest Shelf Assets”  Press Release

NGL  NGL Energy Partners LP Announces Combination with Mesquite  Press Release

Metals

FCX  Copper rebounds on bargain buying; trade woes curb gains  Reuters

X  China’s steel output, enterprises poised for growth in second quarter  China Daily

GLD  Ariana gets ready for 2 000 m drilling  Creamer’s

RIO  Green light for Rio Tinto’s West Angelas expansion in the Pilbara  Creamer’s

Oz Minerals to loan-carry Minotaur to production  Creamer’s

A$1bn Olive Downs coking coal mine cleared for development  Creamer’s

Platinum miners brace for labour clash in early Ramaphosa test  Bloomberg

Europe

Hungarians See Record-Low Freedom for Their Media  Gallup

EWU  UK’s May under growing pressure to ditch Brexit talks with opposition Labour  Reuters

EWU  UK jobless rate falls to lowest since mid-70s  BBC World News

EU regulators to investigate Insurance Ireland data pooling system  Reuters

EWG  Consumer Price Index CPI in Germany increased to 105.20 Index Points in April from 104.20 Index Points in March of 2019.  “Consumer Price Index CPI in Germany averaged 60.90 Index Points from 1950 until 2019, reaching an all time high of 107 Index Points in July of 2014 and a record low of 20.50 Index Points in July of 1950.”  Trading Economics

EWG  The ZEW Indicator of Economic Sentiment for Germany dropped by 5.2 points from the previous month’s 13-month high to -2.1 in May 2019, missing market expectations of 5.0.  “Zew Economic Sentiment Index in Germany averaged 22.09 from 1991 until 2019, reaching an all time high of 89.60 in January of 2000 and a record low of -63.90 in July of 2008.”  Trading Economics

China

China accuses US of threatening World Trade Organisation’s future as trade war heats up  South China Morning Post

Ships carrying tonnes of US soy, pork and cotton are still on their way to China – but will purchases be honoured as trade war escalates?  South China Morning Post

China Has Been Running Global Influence Campaigns for Years  The Atlantic

China’s media ramps up nationalist rhetoric on trade war  Financial Times

Chinese boom for hedge funds at risk from trade dispute  Financial Times

Smart money pulls out of China’s equity market via Hong Kong as hopes of trade war’s resolution fade to gloom  South China Morning Post

US to bar 6 Chinese entities from exporting sensitive tech  “Subjects allegedly aided Iranian weapons programs and Chinese military”  Nikkei

China to unveil list of products eligible for tariff exemption  “…industrial development, technical advancement, employment and environmental protection, or serious social consequences, the commission said.”  Xinhua

North Korea

North Korea blasts US for violating Trump-Kim summit by seizing cargo ship  The Mirror

North Korea demands return of cargo ship seized by US  Times of Israel

US reconnaissance aircraft patrol over Seoul: aviation tracker  Korean Herald

Asia

EWJ  Nikkei hits 3-month low as intensifying trade war hurts sentiment  Reuters

THD  Thailand’s richest man, 12 others to build US$6.8 billion high-speed rail  Channel NewsAsia

EWJ  BOJ Kuroda: Will consider further easing if prices lose momentum  Reuters

EWT  Taiwan shares close down 0.37%  Focus Taiwan

INDA  Army to move air defence units closer to Pak border  Economic Times of India

EWJ  Japan eyes new stimulus as economy logs first slump in 6 years  “Trade war squeezes exports and fuels recession fears”  Nikkei

EWY VNM  South Korea banks on Vietnam alliance after China chill  “Northeast and Southeast Asian partners prioritize economic ties over frictions”  Nikkei

Opinion  INDA  ‘Indian economy lacks velocity for a takeoff’  Economic Times of India

International

Crisis Begins: Cuba Begins Widespread Rationing Due To Shortages  Zero Hedge

EWZ  Brazil investigators get access to banking records of president’s son in graft probe  Reuters

Venezuela receives 71 tons of medical supplies from China  MercoPress

EWZ  Brazil’s Real slides past 4.00 to the US dollar as China/US trade dispute escalates  MercoPress

Russia Ukraine

US and Russia to discuss fate of Venezuela amid reports Putin will not prop up Maduro  The Telegraph

Prosecutor to examine Russia probe origins  AP

Conspiracy theories that 5G phones cause cancer originate from Russia  NY Times

Over 120 forest fires extinguished in Russia over last 24 hours  TASS

Turkey Weighs New U.S. Call to Delay Buying Russian Missiles  Moscow Times

Kremlin says U.S. has not offered a Putin-Trump G20 meeting despite Trump statement  Reuters

Russia Is Waging a New Kind of War  The Atlantic

Middle East

Official: Initial US assessment blames Iran for ship attacks  Boston

Iran says it has begun ‘measures’ to modify commitments to nuclear deal  Times of Israel

White House said to review plan to send up to 120,000 troops to Middle East  Times of Israel

After tanker blasts, Trump warns Iran it will ‘suffer greatly’  Times of Israel

Turkey Flexes In “Largest Ever” East-Med Naval Drills Amid Cypriot Oil & Gas Grab  Zero Hedge

Iran foreign minister in India for talks after U.S. sanctions  Reuters

White House reviews military plans against Iran  Economic Times of India

US warns of Palestinian attacks on anniversary of Jerusalem embassy move  Times of Israel

Africa

Houthi-run TV says Yemeni group targeted vital Saudi installations  Reuters

MSFT  Microsoft invests $100m in new African development centres  IT ProPortal

Climate Change

Sunrise Movement Calls for Mass Climate Demonstration Outside Democratic Debate in Detroit  The Intercept

“You idiots”: Bill Nye unloads on climate change deniers  The Mercury News

Deepest-ever sub dive reveals rubbish littering ocean floor in Mariana Trench  The Telegraph

Economics

“Lowest Mortgage Rates in More Than a Month”  Calculated Risk

US farmers urge Donald Trump to resolve trade war as latest hostilities drain them of hope  South China Morning Post

Record level of funds hedge against stocks fall: BAML survey  Reuters

Fed’s Williams says tariffs boost U.S. inflation, weigh on growth  Reuters

Trump’s China grudge match may be spinning out of control  “A president torn between his love of tariffs and booming markets faces the risk of uncontainable escalation.”  Politico

U.S. Readies New Tariffs as Trump Says He’ll Meet China’s Xi  “USTR releases list of $300 billion in products to be taxed”  Bloomberg

Fed’s Williams says policymakers need to better prepare for lower interest rate world  Reuters

Politics

Attorney General taps top Connecticut federal prosecutor for review of Trump-Russia inquiry  USA Today

Trump Jr. subpoena sent when interviews declined  AP

Trump officials discussed deporting families  AP

Trump’s attorney general assigns prosecutor to investigate ‘origin’ of Russia investigation  The Telegraph

Trump’s China trade policies create split among Republicans  Financial Times

North Carolina to hold congressional primary after race tainted by fraud  Reuters

First court test arrives in Trump-U.S. House showdown over probes  Reuters

Trade war: Trump promises deal with China ‘when the time is right’  The Guardian

Opinion

China, U.S. have ‘wisdom’ to resolve trade dispute, says senior diplomat  Reuters

GOOGL AMZN  ‘Google is the only winner’: Google’s anti-tracking moves could slow Amazon’s ad growth  Digiday

Need to Know: Investors need to prepare for an extended period of economic warfare, says Deutsche  Marketwatch

Futurelook

Trump says he’s adding $1.6 billion to NASA’s budget  Boston

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