- Shares bounce, euro fades after savage ECB reaction (Reuters)
- Trump's Islam comments draw attacks as Republicans discover civility (Reuters)
- IEA Says Oil Price May Have Bottomed as High-Cost Producers Cut (BBG)
- Oil Prices Rise on Hopes Glut Will Ease (WSJ)
- Why Euro-Area Inflation Will Be Low for Years, According to Draghi (BBG)
- Calmer markets, positive data prime Fed to push ahead with rate rises (Reuters)
- Key powers mulling possibility of federal division of Syria (Reuters)
- Deutsche Bank Cut Overall 2015 Bonus Pool by 17% (WSJ)
- JPMorgan, Goldman Said to Discuss Buying Deutsche Bank Swaps (BBG)
- MLP Investors Face Tax Hit On Top of Big Losses (WSJ)
- Mystery 'Dude' Rattles Turkish Stock Traders With Massive Bets (BBG)
- China angered as U.S. approves frigate sale to Taiwan (Reuters)
- Professor to Wall Street: You're Doing Swaps Accounting Wrong (BBG)
- Wall Street's Frustrated Chinese Bankers Are Heading Back Home (BBG)
- Brazil’s corruption probe leaves no one untouched (FT)
- Those Second — and Third — Homes Are Making Mark Carney Nervous (BBG)
- Islamic State defector brings 'goldmine' of details on 22,000 supporters (Reuters)
Overnight Media Digest
WSJ
- Two independent lab tests commissioned by the Wall Street Journal determines use of sodium lauryl sulfate, or SLS, in laundry detergent produced by Jessica Alba's Honest Co, an ingredient it pledged to avoid. (http://on.wsj.com/1Rap44A)
- TransCanada Corp, the company behind the controversial Keystone XL oil pipeline project, is in takeover talks with Columbia Pipeline Group Inc, a U.S. natural-gas pipeline operator with a market value of about $9 billion.(http://on.wsj.com/1Rap6d1)
- The European Central Bank fired off a salvo of measures aimed at bolstering the Euro zone's fragile economy but markets brushed off the efforts, raising questions about whether it and other central banks still have the tools to bolster weakening growth and inflation after years of easy-money policies. (http://on.wsj.com/1RapmZo)
- The U.S. Justice Department harshly criticized Apple Inc Thursday for allegedly helping the Chinese government access customer phone data while refusing to aid U.S. agents in the probe of last year's massacre in San Bernardino, California, - a charge the company's lawyer called "ridiculous" and "desperate". (http://on.wsj.com/1RapxE4)
- Bridgewater Associates LP told clients it has hired a former senior executive at Apple Inc as co-chief executive, as the world's largest hedge fund tries to settle a leadership plan in doubt. (http://on.wsj.com/1RapCaM)
- Defense Secretary Ash Carter on Thursday approved final plans from military service branches and the U.S. Special Operations Command to open up all combat positions to women, without exceptions, the Pentagon said. (http://on.wsj.com/1P2W8UK)
- Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co have placed orders for 30 giant Valemax vessels worth a combined $2.5 billion, people involved in the matter said Thursday. (http://on.wsj.com/1RD5mZA)
FT
* Lloyds Banking Group is set to give a one billion pounds ($1.43 billion) in cut rate loans to real estate customers who are seeking to better the energy efficiency of their buildings.
* Bridgewater has chosen Jon Rubinstein, a longtime technology executive who spent years working with Steve Jobs at Apple Inc. Rubinstein is set to join Bridgewater as co-Chief Executive Officer in May.
* The European Central Bank cut its deposit rate by 10 basis points to minus 0.4 percent and relaxed the impact on banks with cheaper short-term loans and longer-term liquidity at negative interest rates. The ECB gave expanded quantitative easing, incentives to banks to increase lending and further interest rate cuts.
NYT
- A new approach to managing China's corporate debt burden may offer temporary relief for banks but spell further difficulties for the country's economy - having deeply troubled companies use stock to pay overdue loans. (http://nyti.ms/1RUmMn7)
- The Obama administration argued on Thursday that "no single corporation" - even one as successful as Apple Inc - should be allowed to flout the rule of law by refusing to help the FBI unlock the iPhone used by one of the San Bernardino, California, attackers. (http://nyti.ms/1RUmOM1)
- TransCanada Corp, whose Keystone XL pipeline project was rejected by the Obama administration in November, had been in talks with Columbia Pipeline Group Inc about an acquisition, people briefed on the discussions said. (http://nyti.ms/1RUmPj4)
- Bridgewater Associates, the world's biggest hedge fund, has hired a former senior Apple Inc executive to be a co-chief executive. Jon Rubinstein, who worked closely with Steve Jobs for many years and earned the nickname "the Podfather" for his work leading Apple's iPod team, will join the $154 billion Bridgewater in May. (http://nyti.ms/1RUmZH3)
Canada
THE GLOBE AND MAIL
** Too many ships amid a soft economy have sent ocean-going container rates to new depths. An index of spot rates on 11 trade routes between Asia, Europe and the United States has fallen by 62 per cent in the past year, according to Drewry Shipping Consultants, which has published the World Container Index since 2011. (http://bit.ly/1XhsqkU)
** The European Central Bank's bolder-than-expected new stimulus package, designed to fight deflation, got off to a rough start Thursday when the euro soared - the opposite of what the ECB had hoped it would do.(http://bit.ly/1TzmaH2)
NATIONAL POST
** Tough times in the oilpatch are leading to deep frugality in the grocery aisles, delivering a harsh blow to the owner of Sobeys and Safeway. Empire Co posted adjusted third-quarter earnings Thursday that were far below analyst estimates.(http://bit.ly/1YFcR7H)
** A deal for Houston-based natural gas pipeline operator Columbia Pipeline Group Inc would give TransCanada Corp access to high-growth U.S. shale plays, analysts said Thursday.(http://bit.ly/1RbDSdd)
** Canadian banks are actively pursuing opportunities to play an integral part in the growth of fintech, despite the fact that 81 per cent of global banking CEOs see the pace of technological change as a threat, PwC says in a new report.(http://bit.ly/1P2wjUP)
Britain
The Times
French warn over new 18 bln stg nuclear plant
The French state auditor has raised fresh doubts about plans to build the world's most expensive nuclear power plant in Somerset by urging EDF, the energy company, to ask "serious questions" before going ahead. The Cour des Comptes rang alarm bells over the complexity of both funding and carrying out the 18 billion pound project at Hinkley Point. It urged Paris and EDF, which is 85 per cent owned by the French state, to think hard about whether it should proceed, citing "financial stress".(http://thetim.es/1RaORDu)
Manchester is next stop for Amazon
Amazon.com Inc has stepped up its expansion drive in Britain with plans to create a thousand new jobs in the northwest over the next three years. (http://thetim.es/2270PpJ)
The Guardian
Star Wars and Spectre power Cineworld to record box office figures
Box office hits Spectre, Jurassic World and Star Wars: The Force Awakens helped multiplex chain Cineworld Group Inc sell a record 93.6m tickets in 2015. (http://bit.ly/2248Q27)
The Telegraph
Bentley and Jaguar luxury paint supplier dips into BGF's 2.5 bln stg warchest
Paintbox, the company that uses robots to paint Rolls-Royce, Bentley, Jaguar Land Rover and Aston Martin cars, has sealed a multi-million-pound deal with the Business Growth Fund, the venture capital fund backed by Barclays, HSBC, Lloyds and RBS. (http://bit.ly/1RaJft7)
Sky News
Harrods Boss Ward To Step Down This Year
The head of Harrods is to step down this year after a decade at the helm of the world's most famous department store. Michael Ward's departure, which is expected to take place this summer, was announced internally to Harrods staff on Thursday evening. (http://bit.ly/1UiNxUp)
Krispy Kreme Bakes Plan For London Flotation
The owners of Krispy Kreme Doughnuts Inc's British operation are drawing up plans for a stock market listing in London later this year. Alcuin Capital Partners, which has owned Krispy Kreme UK since 2011, has appointed Investec, the investment bank, to oversee the flotation. (http://bit.ly/1QOrZdT)