- Stocks sag as U.S. rate rise expectations revive (Reuters)
- Clinton, Sanders hit final stretch of nominating contest (Reuters)
- Bernie Sanders Wins in Oregon, But He Needed Kentucky, Too (NBC)
- Clinton less than 100 delegates from nomination (The Hill)
- Trump needs 66 delegates to officially clinch nomination (The Hill)
- Japan GDP Rebound Not Enough to Stave Off Stimulus (WSJ)
- Japan Dodges Recession Thanks to Consumers, Public Spending (BBG)
- Austrian State Dodges Default With $12.4 Billion Debt Deal (BBG)
- Another Year of Anger for Deutsche Bank's Investors (BBG)
- Bank of America Misled Trading Partners, Lawsuit Alleges (WSJ)
- Mitsubishi Motors president Tetsuro Aikawa to step down over fuel-cheating scandal (ABC)
- Obama Administration Extends Overtime Pay to Millions (WSJ)
- Suzuki admits fuel testing issues but denies cheating (BBC)
- Sochi doping allegations could show unprecedented criminality : IOC (Reuters)
- Sharapova to face anti-doping hearing in London (Reuters)
- Donald Trump, Republicans Finalize Joint Fundraising Deal (WSJ)
- Rand Slumps as Gordhan Breaks Silence on Talk of Arrest, Firing (BBG)
- 5 Things to Watch in the Fed’s April Meeting Minutes (WSJ)
- Navy’s Tougher Littoral Ship Would Still Be Vulnerable, GAO Says (BBG)
- Nevada Unrest Shows Democratic Rifts (WSJ)
- Sanders message to Dem leaders: Let us in (The Hill)
Overnight Media Digest
WSJ
- Hillary Clinton held a narrow lead over Bernie Sanders late Tuesday in Kentucky's Democratic presidential primary, a result that blunted the Vermont senator's latest burst of momentum and likely thwarted his hopes of putting together a winning streak in the final state contests. (http://on.wsj.com/1spXEwz)
- A Bank of America Corp executive accused her employer of misleading trading clients in a lawsuit in which she called the bank a "bros club" and said it discriminated against her for being a woman. (http://on.wsj.com/1spY06k)
- Donald Trump and the Republican National Committee finalized a joint fundraising agreement late Tuesday that would allow individual donors to write checks of as much as $449,400-far higher than the $2,700 cap on what the presumptive GOP nominee's presidential campaign can accept. (http://on.wsj.com/1spYb1C)
- Millions more Americans are set to qualify for overtime pay under a final Labor Department regulation, in what could be President Barack Obama's last big push to shore up workers' wages. (http://on.wsj.com/1spYjhC)
FT
* Dennis Lockhart, the president of the Atlanta Fed, said in an interview with the Financial Times that financial markets are underestimating the chances of a June rate hike.
* The Competition and Markets Authority, UK's competition watchdog, said on Tuesday that banks should set a monthly maximum charge for unauthorised overdrafts on personal current accounts, and send alerts to people before they breached their limit.
* Sports Direct's billionaire founder Mike Ashley has agreed to face British lawmakers' questions in parliament about the treatment of workers at his sportswear retailer, but only if they visit his headquarters first.
NYT
- The International Monetary Fund is increasing demands for Greek debt relief, setting up another potential standoff with creditors over the country's bailout, and threatening to create more political and economic uncertainty at an already tumultuous time for Europe. (http://nyti.ms/1TXiauH)
- Alphabet Inc owned Google will introduce its much-anticipated entry into the voice-activated home device market on Wednesday. Named Google Home, the device is a virtual agent that answers simple questions and carries out basic tasks. (http://nyti.ms/1TXiqd8)
- Rapidly changing winds brought Alberta's huge wildfire to the perimeter of two of the oldest and largest of Canada's oil sands complexes on Tuesday, posing a new threat to an industry that just a day earlier had been preparing to resume full-scale operations. (http://nyti.ms/1TXiVnL)
- Japan's economy expanded at the fastest pace in a year during the first quarter on stronger private consumption and exports, complicating Prime Minister Shinzo Abe's decision on whether or not to delay a planned sales tax increase next year. (http://nyti.ms/1TXkPVs)
Canada
THE GLOBE AND MAIL
** Canada's two major railways are slashing expenses and eyeing more layoffs amid a slump in freight made worse by the fires in Northern Alberta. Canadian National Railway Co has laid off 1,200 people and parked 400 locomotives, whereas Canadian Pacific Railway Ltd has laid off about 1,300 people and idled 665 locomotives. (http://bit.ly/1Tnbw3Z)
** Alberta's wildfires took a sudden shift toward major oil sands plants north of Fort McMurray, overrunning at least one work camp and throwing into limbo plans to restart more than one million barrels per day of lost production. (http://bit.ly/1OzjDWQ)
** Canadian Imperial Bank of Commerce conducted an internal investigation into alleged misbehaviour on its trading floor amid claims of sexual harassment. Earlier this year, the bank hired an outside firm to question trading floor staff about a series of alleged incidents, according to three people familiar with the situation. (http://bit.ly/1V8TcxZ)
NATIONAL POST
** Canadians with the worst credit ratings are ramping up their debt, but the opposite is true for people with good credit, who continue to pay down their loans, according to a survey released on Wednesday by credit rating agency TransUnion. (http://bit.ly/1TjqV33)
** An assessment by the Conference Board of Canada estimates that the fire in northeastern Alberta resulted in a loss of 1.2 million barrels of oil per day for two weeks, translating into C$985 million ($760 million) in lost gross domestic product. (http://bit.ly/1OzlPxq)
** Hudson's Bay Co announced on Tuesday it will open 20 stores in the Netherlands beginning in 2017 - 17 under its namesake banner, and three under the discount luxury banner Saks Off Fifth. The new project is expected to create about 2,500 construction jobs and an equal number of positions in the stores. (http://bit.ly/1TjseyK)
Britain
The Times
The Bank of England is having "daily conversations" with banks to ensure they could cope with any market turmoil in the event of a vote in favour of Britain leaving the European Union. (http://bit.ly/1XkK8Gl)
Inflation has fallen for the first time since September after a drop in air fares following a temporary rise over the Easter holidays pushed it down to near historic lows. (http://bit.ly/1XkKcG5)
The Guardian
Microsoft is the latest business to come out in support of the UK remaining in the EU, in a letter to more than 5,000 of its UK staff. The tech firm said Britain's membership in the union made it one of "the most attractive places in Europe" to make investments. (http://bit.ly/1XkKFI8)
Haynes, the publisher of user manuals for everything from cars to Death Stars and famous locomotives, is to shed jobs after issuing a profit warning. (http://bit.ly/1XkKlZX)
The Telegraph
BP's head of exploration Richard Herbert is leaving the energy giant after less than three years in the job, as the firm slims down its drilling management teams and seeks to cut costs. (http://bit.ly/1XkL4KW)
Sky News
Aviva will announce on Wednesday that it is investing millions of pounds in Founders Factory, a digital accelerator launched last year by Brent Hoberman, Sky News reported on Tuesday. (http://bit.ly/1TWLIbO)
The Treasury is "determined" to resurrect the delayed sale of shares in Lloyds Banking Group to members of the public by the end of next March, a minister has said. (http://bit.ly/1TWLVMa)
The Independent
The banking regulator Competition and Markets Authority proposed a cap on unarranged overdraft fees and warnings for customers before they dip into their overdraft in a report published on Tuesday. (http://ind.pn/1TWKkpJ)
After spending years fighting the European Union, Michael O'Leary, the Irish chief executive officer of Ryanair, has turned into one of its biggest defenders and is trying to persuade the British to vote to stay in the EU in their June 23 referendum. (http://ind.pn/1TWLkKr)