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Frontrunning: March 2

  • Trump, Clinton capture key wins on Super Tuesday (Reuters)
  • Hillary Clinton Triumphs in Delegate-Rich Super Tuesday States (WSJ)
  • S&P 500 Futures Follow Oil Lower, Erase Gain After Super Tuesday (BBG)
  • Oil below $37 as U.S. inventory rise counters output freeze plan (Reuters)
  • Wall Street's big short: President Donald J. Trump (Reuters)
  • Ex-Chesapeake CEO McClendon Indicted Over Lease Bid Rigging (BBG)
  • Port Sale Highlights Western Australia’s Sinking Fortunes (WSJ)
  • Texas abortion case goes before shorthanded U.S. Supreme Court (Reuters)
  • Valeant CEO Races to Repair Drug Maker’s Reputation (WSJ)
  • The Rise and Fall of Commodities Hedge Fund King Willem Kooyker (BBG)
  • U.S. Shoppers Heeding Loonie's Call Flock to Canada's Websites (BBG)
  • Chinese Hedge-Fund Firms Head for Hong Kong (WSJ)
  • Mexicans Are Disappearing From Texas in Latest Twist on Oil Bust (BBG)
  • Crime Wave Lashes Venezuela’s Already Battered Farms (WSJ)
  • Molotovs and Death Threats: Russian Debt Collectors Go Medieval (BBG)
  • Ranks of World's Wealthiest Thin Most Since the Financial Crisis (BBG)
  • Elections gains unlikely to shift Iran power balance fast (Reuters)
  • Alibaba Affiliate Ant Financial Seeks Stake in Caixin Media (WSJ)

 

Overnight Media Digest

WSJ

- Republican front-runner Donald Trump won seven Super Tuesday presidential contests, while Ted Cruz won two to ensure the GOP race will stretch into the spring. For the Democrats, Hillary Clinton took seven delegate-rich states and Bernie Sanders claimed four others in the biggest voting day of the primary season. (http://on.wsj.com/1LU4xd3)

- Aubrey McClendon, one of the pioneers of the U.S. shale boom, was indicted by a federal grand jury Tuesday on charges of conspiring with an unnamed company to rig the price of oil and gas leases in Oklahoma. (http://on.wsj.com/1LU5d24)

- FBI director James Comey conceded that a mistake was made in the early days of the investigation into the San Bernardino, California, attack, making it harder to get data from one of the shooters' phones. (http://on.wsj.com/1LU5e6c)

- Canadian Pacific Railway Ltd recently revived its efforts to buy CSX Corp in the latest sign of its eagerness to bring consolidation to the industry. (http://on.wsj.com/1LU5q5h)

- The Sports Authority plans to file for Chapter 11 bankruptcy protection and shut down in the coming weeks if the struggling retailer can't find a buyer for its business. (http://on.wsj.com/1LU5nXe)

 

FT

New York Stock Exchange owner ICE said it may make a rival bid for London Stock Exchange, raising the prospect of a takeover battle with Deutsche Boerse.

South African retailer Steinhoff International's unit, Conforama, is considering a possible cash offer for UK-listed white goods chain Darty Plc

Schroders Plc, Britain's biggest listed fund manager, is set to announce Chief Executive Michael Dobson will step down.

 

NYT

- The head of the FBI acknowledged on Tuesday that his agency lost a chance to capture data from the iPhone used by one of the San Bernardino attackers when it ordered that his password to the online storage service iCloud be reset shortly after the rampage.(http://nyti.ms/1REntkx)

- The Justice Department announced Tuesday night that it had charged Aubrey McClendon, an Oklahoma wildcatter who turbocharged the shale revolution by buying up gas fields across the United States, with conspiring to suppress prices paid for oil and natural gas leases.(http://nyti.ms/1XZBITD)

- Brazilian federal police arrested a Facebook executive on Tuesday after the company failed to turn over information from a WhatsApp messaging account that a judge had requested for a drug trafficking investigation. (http://nyti.ms/21Bph61)

- The Hachette Book Group has reached an agreement to buy Perseus Books Group's publishing business, 18 months after its previous attempt to acquire the company fell through. The financial terms of the deal were not disclosed. (http://nyti.ms/1T79hUf)

 

Britain

The Times

Shares in Barclays Plc slumped 8 per cent yesterday after the bank cut its dividend in half and pledged to speed up its restructuring as it struggles to boost growth. (thetim.es/24zOn4c)

Intercontinental Exchange Inc, owner of the New York Stock Exchange, confirmed in a statement yesterday that it was "considering making an offer" for the LSE, although no approach has been made and "no decision has yet been made as to whether to pursue such an offer". (thetim.es/1oNzQ3Y)

The Guardian

Sports Direct International Plc has been relegated from the FTSE 100 following a torrid three months in which 1.6 billion stg has been wiped from the retailer's value after a Guardian investigation into working conditions and a slump in trading at its stores. (bit.ly/24z4rD5)

The chairman of Barclays Plc has hit out against the 20 billion stg in fines and taxes imposed on the bank in recent years as it chopped its dividend and announced it was scaling back in Africa to focus on the UK and U.S. (bit.ly/1QIys9m)

The Telegraph

Europe's deep economic malaise is the result of "deliberate" policy choices made by EU elites, according to the former governor of the Bank of England. (bit.ly/1Tm4EpV)

Sky News

Britain's six lenders - including Barclays, HSBC Holdings Plc, and the state-backed Lloyds Banking Group Plc - are preparing to submit a proposal to the Treasury under which they would guarantee around 17 billion stg of financing to the purchasers of the B&B loans. (bit.ly/21AZYkh)

Greggs Plc is cutting up to 355 jobs as it shuts three of its bakery sites under a 100 million stg restructuring plan. (bit.ly/1ONxPKd)

The Independent

Britain's largest developers have been accused of profiteering on the back of the country's housing crisis by restricting the supply of new houses to keep prices unnecessarily high. Latest figures reveal that a record half a million homes in England now have planning permission granted but have yet to be built. (ind.pn/1TPXJnn)