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Frontrunning: April 26

  • The Fed Is Meeting in April to Talk About June (BBG)
  • Global stocks, oil prices climb as investors ready for Fed (Reuters)
  • Apple Results to Show How Far iPhone Sales Have Fallen  (BBG)
  • On Election Eve for five states, Trump rips Cruz and Kasich (Reuters)
  • President Xi Jinping’s Most Dangerous Venture Yet: Remaking China’s Military (WSJ)
  • Oil's Recovery Inches Higher as 'Fracklog' Awaits Price Trigger (BBG)
  • Malaysia’s Reputation Takes Another Hit as State Fund Defaults  (BBG)
  • Citadel Tops List of Private U.S. Trading Venues (NYT)
  • Mitsubishi Motors says it used non-compliant mileage data for 25 years (Reuters)
  • BP Results Still Hurt by Gulf of Mexico Spill (WSJ)
  • Canada is subsidizing foreign millionaires (Canada)
  • Earnings Blowups Send Tech Traders to Options Market for Hedges (BBG)
  • Saudi Arabia Approves Economic Reform Program (WSJ)
  • Obama calls for strong, united Europe (AFP)
  • Taxpayer Subsidies to Companies Fall 70% as U.S. States Pull Back (BBG)
  • Driven up the wall by Trump, Mexico looks to recast image in U.S. (Reuters)
  • Goldman Says China's Iron Speculation ‘Concerns Us the Most’ (BBG)
  • Ex-CIA Agent Loses Appeal Against Extradition to Italy (BBG)
  • Goldman Bank Website Caps Quiet Shift Before New U.S. Cash Rule (BBG)
  • U.S. Ospreys win Japanese hearts and minds with quake relief flights (Reuters)
  • Macau Casino Stock Rally Seen Unsustainable as Downturn Endures (BBG)

 

 

Overnight Media Digest

WSJ

- U.S. Federal regulators are poised to approve Charter Communications Inc's $55 billion acquisition of Time Warner Cable Inc, but they will force the merged company to live up to stringent obligations that don't apply to its bigger rivals. (on.wsj.com/1SFDIPc)

- Stock markets across Asia were generally lower Tuesday as investors stayed cautious ahead of central bank meetings this week in Japan and the United States. (on.wsj.com/1Taq2Je)

- Chocolate maker Hershey Co has a solution for America's waning taste for candy: beef snacks. The 122-year-old company is betting that dried meat bars are the new chocolate bars. (on.wsj.com/1TtD5rV)

- Donald Trump is poised to sweep five states' Republican primaries on the Eastern Seaboard on Tuesday, but his rivals are already looking ahead to next week's contest in Indiana, which may be their last chance to keep Trump from clinching the party's presidential nomination. (on.wsj.com/23XxfHG)

 

FT

Husky Energy Inc said on Monday it will sell 65 percent ownership in select midstream energy assets in Canada to Cheung Kong Infrastructure Holdings Ltd and Power Asset Holdings Ltd for C$1.7 billion.

Volkswagen AG has not fixed any of the 1.2 million cars in Britain affected by the diesel emissions scandal, a British transport minister said on Monday, despite the company having said it had begun software modifications to some models.

Tribune Publishing Co is reviewing an unsolicited and possibly unwelcome $815 million takeover bid from Gannett Co Inc, a move by Gannett to gain scale as the newspaper industry continues to consolidate.

 

NYT

- Valeant Pharmaceuticals International Inc said on Monday that Joseph C. Papa, the head of the drug maker Perrigo , would take over as chief executive, replacing the embattled J. Michael Pearson. (http://nyti.ms/1rw0a4t)

- Advisers to the U.S. Food and Drug Administration voted on Monday not to recommend approval of Sarepta Therapeutics' drug for Duchenne muscular dystrophy. (http://nyti.ms/1rw0yjB)

- U.S. federal regulators on Monday moved to approve Charter Communications ' $65.5 billion acquisitions of Time Warner Cable and Bright House Networks, enabling the creation of a new cable giant as the industry focuses more on broadband as traditional TV declines. (http://nyti.ms/1UdpyHf)

 

Britain

The Times

Philip Green and the owners of BHS are facing an investigation into their running of the retail chain after the pensions watchdog said it had begun looking at whether they had attempted to avoid plugging a hole in the company's retirement fund of more than 200 million pounds ($289.72 million). (http://bit.ly/1Ttz0nC)

The plan to create Britain's largest mobile phone network provider is set to be derailed by European regulators, who will veto the 10.25 billion pounds takeover of O2's UK network by CK Hutchison Holdings ltd, the owner of Three. (http://bit.ly/1TtzUAo)

The Guardian

The British Broadcasting Corporation's director general is understood to have met with finance minister George Osborne in an attempt to head off government attempts toward contestable funding under which some of the money from the licence fee could be used for organisations other than the BBC. (http://bit.ly/1TtA0rU)

Britain should withdraw from the European convention on human rights regardless of the EU referendum result, Home Secretary Theresa May has said, in comments that contradict ministers within her own government. (http://bit.ly/1TtA9vu)

The Telegraph

Channel 4's new chairman has launched a search for ethnic minority and disabled non-executive directors amid concerns that the broadcaster's board does not reflect its government-imposed diversity remit. (http://bit.ly/1TtAxtO)

Sky News

British department stores group BHS has gone into administration, putting 11,000 jobs at risk and threatening the closure of up to 164 stores. (http://bit.ly/1qNEWy5)

Marc Bolland is to join the board of British Airways parent IAG, weeks after stepping down as the boss of Marks and Spencer Group, Sky News has learned. (http://bit.ly/1TtyGVW)