- Global Bonds Sell Off, Sparking Fears of Further ‘Taper Tantrum’ (WSJ)
- Facing revolt on healthcare, GOP senators delay vote (Reuters)
- Global businesses dig out from latest cyber attack (Reuters)
- Companies Work to Contain Fallout From Cyberattack (WSJ)
- Cyber attack hits property arm of French bank BNP Paribas (Reuters)
- Obama Choked on Russia Long Before the 2016 Election (BBG)
- The EU May Need to Introduce a Bloc-Wide Tax After Brexit (BBG)
- iPhone Anniversary Edition Gives Analysts Pre-Party Jitters (WSJ)
- Some would-be immigrants left in limbo after Supreme Court travel ban order (Reuters)
- Macron Lights Fuse on ‘Mother of All Reforms’ to Renew France (BBG)
- Cash-Rich Sweden Squirrels Away Ahead of Demographic Time Bomb (BBG)
- Turn Off, Drop Out: Why Young Chinese Are Abandoning Ambition (Sixth Tone)
- FCA Proposes Single Fee for U.K. Asset-Management Industry (BBG)
- U.S. says it saw preparations for possible Syria chemical attack (Reuters)
- How America’s Aircraft Carriers Could Become Obsolete (BBG)
- Mystic Study Success Could Put Astra Ahead in Cancer Revolution (BBG)
- Rolls-Royce Drivers Are a Lot Younger Than You Think (BBG)
Overnight Media Digest
WSJ
- The European Union's antitrust regulator on Tuesday fined Alphabet Inc's Google a record 2.42 billion euros ($2.71 billion), saying its search engine stacks the deck in favor of its own comparison-shopping service. on.wsj.com/2skQYQe
- Takata Corp's U.S. units Tuesday won approval for novel arrangements that will see the world's largest car makers step up to make sure the troubled parts maker stays in business despite massive product liability claims. on.wsj.com/2skT4ja
- Nestlé SA on Tuesday announced plans to launch a $20.8 billion share buyback, focus its capital spending on categories like coffee and pet care and look for consumer health-care acquisitions, a move that comes after it found itself the target of activist investor Third Point LLC. on.wsj.com/2skA5W2
- United Parcel Service Inc will freeze pension plans for about 70,000 nonunion employees, seeking to contain the burden of a retirement fund with a nearly $10 billion deficit. on.wsj.com/2sl12IV
- Apollo Global Management LLC, the private-equity firm co-founded by billionaire investor Leon Black, has raised $23.5 billion for the world's largest-ever buyout fund. on.wsj.com/2skSy4H
FT
* A major global cyber attack on Tuesday disrupted computers at Russia's biggest oil company, Ukrainian banks and multinational firms with a virus similar to the ransomware that last month infected more than 300,000 computers.
* EU antitrust regulators hit Google with a record 2.4 billion euro ($2.72 billion) fine for favouring its own shopping service, taking a tough line in the first of three probes of its dominance in searches and smartphone operating systems.
* Prime Minister Theresa May said on Tuesday Britain must hold a national investigation into exterior cladding used on high-rise buildings after all those checked after the deadly London tower block blaze this month failed safety tests.
NYT
- Computer systems from Ukraine to the United States were struck on Tuesday in an international cyberattack that was similar to a recent assault that crippled tens of thousands of machines worldwide. nyti.ms/2skCujC
- Nestlé SA said it was prepared to spend billions of dollars on buybacks — but the company also suggested that it might pursue a number of acquisitions in addition to shedding businesses. nyti.ms/2skwSWu
- Sarah Palin, former vice-presidential candidate, filed a defamation lawsuit against The New York Times Co, saying the newspaper had published a statement about her in a recent editorial that it "knew to be false." nyti.ms/2skS12B
- Toshiba missed a self-imposed deadline to sell a piece of its valuable microchip business on Wednesday, inflicting a fresh wound on its efforts to repair its battered finances. nyti.ms/2skXQNr
Canada
THE GLOBE AND MAIL
** Royal Bank of Canada will repay C$21.8 million to clients who were incorrectly charged investment fees for certain mutual-fund products and fee-based accounts. (tgam.ca/2tjGB3r)
** Mutual fund dealer Sterling Mutuals Inc has scooped up Michael Stanley, former CEO of Quadrus Investment Services Ltd, as its new president. (tgam.ca/2tnUWwm)
** A British Columbia judge has rejected Ottawa's last-minute attempt to adjourn a landmark lawsuit challenging the use of solitary confinement in federal prisons, clearing the way for the trial to begin next week. (tgam.ca/2tjRmmH)
NATIONAL POST
** The United States may have turned up the heat on the softwood dispute this week by imposing new tariffs on Canadian lumber products, but sources on both sides suggest the key players are coming closer together and there is renewed political will to strike a deal. (bit.ly/2tX6KCO)
** Prime Minister Justin Trudeau says he made the "difficult but necessary" choice to break his promise on electoral reform because the other parties refused to compromise and accommodate the Liberal preference for ranked ballots, and that he's always felt proportional representation would be bad for Canada. (bit.ly/2t005I8)
Britain
The Times
- The British government will ask companies for their advice on the process of leaving the European Union under a new forum that brings business back in from the cold since Theresa May took over as prime minister last year. bit.ly/2sPeZ5B
- The Bank of England has tightened up mortgage rules first implemented in 2014, saying that some lenders had forgotten the lessons of the past. bit.ly/2sOMepE
The Guardian
- The European Union has handed Google a record-breaking 2.42 billion euro ($2.74 billion) fine for abusing its dominance of the search engine market in building its online shopping service, in a dramatic decision that has far-reaching implications for the company. bit.ly/2sOQi9c
- Ladbrokes could face an investigation from the gambling regulator over an incident in which confidential information about betting addicts, including photos, names and addresses, was found in a bin bag on the street. bit.ly/2sOznDK
The Telegraph
- Co-operative Bank is poised to unveil a £700m rescue deal with its US hedge fund owners that will avert a collapse of the loss-making lender. bit.ly/2sOzFKQ
- Kit Kat maker Nestlé has launched a 20 billion Swiss francs ($20.82 billion) share buyback program just days after prolific US activist investor Dan Loeb disclosed a huge stake in the company. bit.ly/2sOOeOB
Sky News
- A "powerful" cyberattack that started in Ukraine has spread across the world, hitting banks, government IT systems and energy firms. British advertising group WPP said its computer networks in several locations had been targeted. bit.ly/2sOTDp7
- Addressing company executives at an event, David Davis has suggested that the UK will be out of the customs union and single market after March 2019. bit.ly/2sOUKVN
The Independent
- Consumer confidence has collapsed following the General Election as household finances have come under renewed pressure and fears grow over the housing market according to Data from YouGov and the Centre for Economics and Business Research. ind.pn/2sOWU7z