News

Frontrunning: February 20

  • Dollar extends recovery as traders eye Treasury auction (Reuters)
  • Gas Tax Increase Would Hit Trump States Hardest, Koch Groups Say (BBG)
  • House Republicans Take First Step to Tackle Opioid Crisis (WSJ)
  • Trump Defiant Despite Mueller’s Warning Shot on Russia Meddling (BBG)
  • Why the iPhone Is Losing Out to Chinese Devices in Asia (WSJ)
  • Florida school staff members to return this week after mass shooting that killed 17 (Reuters)
  • Students to Ratchet Up Anti-Gun Protests (WSJ)
  • Britain urges EU to work jointly on Brexit deal, won’t undercut rivals (Reuters)
  • Facebook Feels Heat in Russia Probe (WSJ)
  • Forget tourism: Pyeongchang’s legacy probably debt and anger (AP)
  • Refiner goes belly-up after payouts to Carlyle Group (Reuters)
  • Pennsylvania top court redraws voting map in boost to Democrats (Reuters)
  • The Market Is Finally Getting the Joke (Guggenheim)
  • Qualcomm Increases Offer Price for NXP to Win More Support (BBG)
  • Relax and invest, Saudi prince tells investors after corruption crackdown (Reuters)
  • Saudi Resistance to Nuclear Standards Could Roil U.S. Reactor Deal (WSJ)
  • Trump Plan to Swap Food Stamps for Food Faces Skeptical Congress (BBG)
  • GM offers $2.2 billion debt for equity swap in return for Seoul’s support (Reuters)
  • Uber Eats driver accused of murdering Morehouse grad was convicted of battery in 2010 (AJC)
  • Indonesia seizes record 1.6 tonnes of crystal methamphetamine (Reuters)
  • Monetary policy normalization must go hand in hand with economic recovery (Reuters)
  • Home Depot’s profit, sales top estimates on higher traffic, spending (Reuters)

Overnight Media Digest

WSJ

– USA Track & Field’s President, Vin Lananna, was placed on leave by the organization after being approached by federal investigators as part of a wide-ranging probe into alleged sports corruption. on.wsj.com/2CwgIOM

– Facebook Inc is contending with a new wave of criticism prompted by the U.S. indictment alleging that Russia manipulated social media platforms and by a Facebook executive’s attempts to address the issue. on.wsj.com/2Cyockh

– Federal Reserve Chairman Jerome Powell tapped two monetary policy specialists Jon Faust and Antulio Bomfim to serve as senior advisers. on.wsj.com/2CwqiBo

– President Donald Trump supports efforts to strengthen the federal background-check system for firearms and had spoken with a top GOP senator about legislation to do so following last week’s deadly school shooting in Florida. on.wsj.com/2CyggQa

 

FT

Prime Minister Theresa May intends to keep her cabinet ministers at her country residence, Chequers, on Thursday until they have drafted a plan for Brexit that includes a high level of alignment between EU and UK rules.

Britain’s pensions regulator twice ignored requests from trustees of collapsed outsourcing firm Carillion Plc to force the company to plug its pension deficit, according to letters published by the work and pensions select committee on Tuesday.

Vodafone Group Plc will work with the European Aviation Safety Agency to test an air traffic control system for drones over a mobile network as the telecoms industry seeks to take a central role in developing a framework to integrate drones safely into international airspace.

 

NYT

– On Tuesday, Fox News is set to announce Fox Nation, a stand-alone subscription service available without a cable package. The streaming service, expected to start by the end of the year, would focus primarily on right-leaning commentary, with original shows and cameos by popular personalities like Sean Hannity. nyti.ms/2CygJlo

– U.S. President Donald Trump signaled on Monday that he was willing to join a discussion on gun restrictions amid the national outcry led by teenagers who survived last week’s mass shooting at a Florida high school. Trump is open to improvements in federal background checks for prospective gun buyers, the White House press secretary, Sarah Huckabee Sanders, said in a statement. nyti.ms/2ECY21C

 

Canada

THE GLOBE AND MAIL
** The railway division of Bombardier Inc says losing out on a large electric-train contract in Montreal may force it to lay off workers this fall at its plant in La Pocatiere, Quebec, unless it wins some new contracts. tgam.ca/2ojSuSP

** Canada’s export credit agency is worried that a Canadian financed Bombardier luxury jet could become the escape vehicle for the controversial Gupta brothers as they flee a corruption prosecution in South Africa, according to court papers filed by the agency in Johannesburg. tgam.ca/2oddcEP

NATIONAL POST
** The Canadian military will look at changes to its Team Canada morale tours as it deals with allegations about excessive drinking and sexual harassment on the taxpayer-funded junkets. bit.ly/2FgaKED

Source: zerohedge.com