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Frontrunning: October 5

  • Las Vegas gunman stockpiled weapons over decades, planned attack (Reuters)
  • Las Vegas Shooter’s Partner Says She Is Mystified by Attack (WSJ)
  • Catalan leader says not afraid of arrest over independence (Reuters)
  • May Faces Calls to Quit After Speech That Went Wrong (BBG)
  • North Korea ‘Decoders’ Offer Dire Warnings About Nuclear Program (WSJ)
  • Five Facebook Ads Designed to Divide America at Russia’s Behest (BBG)
  • The Lawyer Who Beat Big Tobacco Takes On the Opioid Industry (BBG)
  • Inside the Revolt Threatening to Split Guggenheim Partners (BBG)
  • Companies That Perform Best Don’t Pay CEOs the Most (WSJ)
  • Macron’s sharp tongue throws French Twitter into a frenzy (Reuters)
  • Wall Street Regulator Is an Investor—With Scant Returns (WSJ)
  • Saudi King, Putin to Talk Oil Pact on ‘Epochal’ Russia Visit (BBG)
  • ‘Mind-Boggling’ Math Could Make Blockchain Work for Wall Street  (BBG)
  • Spain Gets a Little Help From Its Amigos (BBG)
  • Shale Juggernaut Shows Signs of Fatigue (WSJ)
  • GM more than doubles self-driving car test fleet in California (Reuters)
  • Dutch Regulator Warns Banks and Insurers to Factor In Climate Change (BBG)
  • Europe Could See Another Brexit-Like Rupture—Beyond Spain (BBG)

Overnight Media Digest


– Apple Inc issued a software update Wednesday that it said addresses some cellular-connectivity issues that have affected its newest smartwatch, the Apple Watch Series 3.

– Verizon Communications Inc said its top media executive, Marni Walden, is leaving in February and her responsibilities will be split among existing executives at the telecom giant.

– Airbnb Inc’s marketing chief Jonathan Mildenhall is departing the online home-rental company where he was known for promoting diversity in advertising and guiding the brand through controversies that attended its rapid growth.

– AT&T Inc Chief Executive Randall Stephenson said the telecommunications giant isn’t looking to bring a “telephone company culture” to Time Warner Inc and “really screw it up” after it closes its pending $85 billion acquisition of the media company.

– Continued adoption of Monsanto Co’s latest soybean, cotton and corn products drove quarterly revenue for the seed giant in what it called a challenging agricultural environment.



Prime Minister Theresa May’s bid to reassert her dwindling authority was marred on Wednesday by a calamitous keynote speech interrupted by repeated coughing fits, a prankster and even letters of her slogan falling off the stage.

DeepMind, Google’s London-based artificial intelligence unit, has launched a research department focused on the ethical and social implications of the AI it is creating.

Goldman Sachs Group Inc agreed a lease for new office space in a Frankfurt skyscraper that would allow it to add 800 staff in the German financial capital as the Wall Street bank gears up to shift jobs out of the UK ahead of Brexit.

The UK’s top banking supervisor Sam Woods urged his counterparts in Europe and beyond to work together, as he warned that Brexit would make British banks more complex — and therefore more risky. (Compiled by Bengaluru newsroom)


– In a public statement, U.S. Secretary of State Rex Tillerson emphasized his support of President Donald Trump and his agenda, despite a recent media report that he had criticized the president.

– Alphabet Inc’s Google unveiled new smartphones, smart speakers and other gadgets at a product launch in an attempt to demonstrate the company’s commitment to artificial intelligence.

– The European Commission said it would take Ireland to court for not clawing back billions from Apple Inc, and ordered Luxembourg to recover around $293 million from Amazon .

– Newsroom employees at the Los Angeles Times are trying to form a union, setting up a potential clash with the newspaper’s parent company, Tronc Inc.

– Three U.S. Army Special Forces troops were killed and two wounded on Wednesday in an ambush in Niger while on a training mission with troops from that nation in northwestern Africa, American military officials said.




** Quebec’s political parties formed a common front on Tuesday to demand companies such as Netflix Inc pay provincial sales tax. Members of the legislature voted unanimously for a motion to “ensure the Quebec sales tax TVQ is imposed on all foreign companies that offer products and services online, notably in the cultural sector, as soon as possible.”

** Canadian Business Growth Fund, a private equity fund backed by Canada’s largest financial institutions, is expected to land veteran financier George Rossolatos as its first chief executive officer.

** Google’s Sidewalk Labs has been selected as the top candidate to turn part of Toronto’s waterfront into a smart neighbourhood designed to integrate new technology and advance sustainable architecture and urban design.


** Despite recent project cancellations, BC Hydro still expects three LNG projects — and possibly a fourth, which is undergoing a feasibility study — will need power from its controversial and expensive Site C hydroelectric dam.

** Bombardier Inc will likely face additional massive duties when the United States government issues a preliminary decision on Boeing Co’s dumping allegations on Thursday.

** Alphabet Inc’s Google on Wednesday unveiled Pixel 2 and Pixel 2 XL for its fall lineup. The pair of devices announced during a keynote in Mountain View, California, are the successors to the company’s smartphone debut last year. (Compiled by Bengaluru newsroom)



The Times

-Tesco Plc has restored its dividend after a three-year hiatus in a “symbolic” moment for a company that three years ago was reeling from an accountancy scandal and market downturn.


-Facebook Inc’s tax affairs fell under the spotlight again after it revealed that it paid 5.1 million pounds ($6.75 million) corporation tax in Britain last year, even though its revenues quadrupled to 842 million pounds ($1.11 billion).

The Guardian

-Guinness owner Diageo Plc , is planning to redevelop part of the brewer’s Dublin site, renovating the historic buildings in a scheme to create offices, shops, hotels and housing.

-The Unite union of Monarch Airlines has launched legal action on behalf of more than 1,800 Monarch staff who were laid off, in a move that could add millions to the taxpayers’ bill for the collapse of the airline.

The Telegraph

-Airbnb is looking to grab a larger slice of the business trip market in partnering with WeWork Cos to offer those staying in accommodation listed on its website the option to rent a desk in their nearest office.

-The co-founder of convenience store chain McColl’s Retail Group James Lancaster has stepped down from the board and sold his entire remaining stake for 33.6 million pounds ($44.46 million) as he gears up to lead a rescue of embattled wholesaler Palmer & Harvey Plc.

Sky News

-Bidders for Flora margarine are signing up some of Unilever Plc’s former top executives to smooth a path to a 6 billion pounds ($7.94 billion) takeover of the Anglo-Dutch consumer goods company’s spreads division.

-TMF Group will unveil plans for a 1 billion pound ($1.32 billion) London listing this week that will provide a boost to the City’s lukewarm market for company flotations.

The Independent

-The United Kingdom’s Big Six gas and electricity suppliers saw billions wiped off their stockmarket valuations after Prime Minister Theresa May outlined plans to go ahead with a cap on energy prices.

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