Frontrunning: December 27
By Tyler Durden
- Monte dei Paschi Rescue Cost Jumps as Deposits Fall (WSJ)
- Russia finds first black box from Black Sea crash jet (Reuters)
- Prat-Gay Fired as Argentine Finance Minister After One Year (BBG)
- Fear of Trump Triggers Deep Spending Cuts by Nation’s Second Largest Union (BBG)
- Xi’s Power Play Foreshadows Change in How China Is Ruled (WSJ)
- China to launch probe for soft landing on the far side of the moon by 2017 (Global Times)
- CEO’s Winning Gamble May Keep Scrooge From Deutsche Bank Bonuses (BBG)
- Outrage Over the Economy Doesn’t Explain Surging Global Populism (BBG)
- Toshiba Says Nuclear Writedown May Reach Billions of Dollars (BBG)
- ‘Rogue One’ Pads Disney’s Year as Movie Sales Near Record (BBG)
- One of 2016’s Worst-Performing Assets: Frontier Markets (WSJ)
- China Industrial Profits Climb 14.5%, Led by Coal And Metals (BBG)
- Russia says Syrian government and opposition in talks (Reuters)
- German lawmakers urge tougher security measures after market attack (Reuters)
- Bankruptcy Is an Option for Some Burdened by Student Loans (WSJ)
- Britney Spears Isn’t Dead: Sony Says Twitter Account Compromised (BBG)
- Russia Urges Libya Leadership Role for UN-Defying Military Chief (BBG)
Overnight Media Digest
WSJ
– Japanese electronics giant Toshiba Corp said it would record another hefty write-down connected to its U.S. nuclear business, clouding the company’s plan for turning around after an accounting scandal in 2015. http://on.wsj.com/2i9lB7G
– A strengthening dollar is re-emerging as a threat to U.S. manufacturers by making their exports more expensive and their foreign earnings less valuable. http://on.wsj.com/2i9bAr7
– Citing attorney-client privilege, U.S. law firms keep secret the owners of money that moves into and out of their pooled accounts, a money-laundering vulnerability that U.S. prosecutors say was exploited in a multibillion-dollar fraud at Malaysian state fund 1MDB. http://on.wsj.com/2i9ihK4
– Israel’s settlement-building in disputed areas is accompanied by an edging away from support for a Palestinian state, thanks partly to domestic political rivalries-a trend that helped spur a United Nations condemnation of the country but also could limit the impact of that censure. http://on.wsj.com/2i9cbJs
– The nearly $1.4 trillion student-loan market is expected to be far more hospitable to private lenders under a Donald Trump administration than during the last eight years. http://on.wsj.com/2i9fSik
– The concentration of wealth among president-elect Donald Trump’s nominees is setting up an arduous and expensive Senate confirmation process that could slow implementation of the White House agenda. http://on.wsj.com/2i9bVdn
– Argentina’s Finance Minister Alfonso Prat-Gay was forced out of his post on Monday as the economy struggles to rebound a year after President Mauricio Macri took office and introduced a series of market-friendly reforms. http://on.wsj.com/2i9ipJu
NYT
– President-elect Donald Trump has said he would like to create a “tax holiday” so that American companies can bring back profit that was generated overseas at a lower rate. However, corporate boards and executives may have different ideas. http://nyti.ms/2hIXThH
– Undeterred by a resounding defeat at the United Nations, Israel’s government said Monday that it would move ahead with thousands of new homes in …read more
Source: Frontrunning: December 27
