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Frontrunning: December 22

Frontrunning: December 22

  • Fingerprints of Tunisian suspect in Berlin attack found on truck door (Reuters)
  • Germany Ill-Prepared for Terror Fight, Critics Say (WSJ)
  • Monte Paschi Will Need a Huge State Rescue (BBG)
  • Trump denounces attack, vows tough immigration plan (AP)
  • Trump’s New Appointments Shake Up Trade, Regulation (WSJ)
  • Trump May Have a $300 Million Conflict of Interest With Deutsche Bank (BBG)
  • Boeing chief praises Trump after meeting over Air Force One costs (FT)
  • Last group to be evacuated from Syria’s Aleppo within hours (AP)
  • Russia arms Serbia amid tensions with NATO (AP)
  • Jamie Dimon on Trump, Taxes, and a U.S. Renaissance (BBG)
  • Malware Used in DNC Leaks Tied to Hack on Ukraine (WSJ)
  • Goldman Sachs Ties to Scandal-Plagued 1MDB Run Deep (WSJ)
  • Nobody Is Eating Out Anymore, They’re Just Ordering Pizza (BBG)
  • The renminbi: not as weak as you think (FT)
  • Merkel Feels Hillary’s Pain as Web Trolls Bombard Her With Abuse (BBG)
  • Violence Bolsters Erdogan’s Plan for More Presidential Power in Turkey (WSJ)
  • Rome’s Trash Is Keeping Austrians Warm This Winter (BBG)
  • BofA’s Moynihan: Businesses Are Friskier After Trump Victory (BBG)
  • PBOC’s Shadow Banking Curbs Risk Deepening Junk Bond Rout (BBG)


Overnight Media Digest


– Goldman Sachs courted 1Malaysia Development Bhd., or 1MDB, the Malaysian state fund now at the heart of global embezzlement probes, earning high fees for selling its bonds. U.S. Justice Department investigators are trying to determine if the bank had reason to suspect misuse of the money.

– Donald Trump selected billionaire investor Carl Icahn and Peter Navarro, a critic of trade with China, for his economic team, choices that could jolt Washington’s approach to trade and regulation.

– Navnoor Kang, a former portfolio manager of New York state’s pension fund, steered $2.5 billion in business to two brokerage firms in exchange for bribes that included prostitutes, cocaine and concert tickets, federal prosecutors said on Wednesday.

– Uber Technologies on Wednesday relented in a public battle with California regulators over self-driving cars, halting a test program in San Francisco after the state revoked the registration of the vehicles involved.

– Brazilian construction giant Odebrecht signed the largest anti-corruption settlement in history with authorities on three continents, following an investigation that landed its chief executive and other powerful figures in prison.

– Waymo, the recently renamed Google self-driving car project, is in talks to collaborate with Honda Motor Co , its second big auto partner.

– Unionized pilots at Korean Air Lines went on strike Thursday for the first time in 11 years, disrupting some flights on the airline’s major Asian and Middle Eastern routes.

– Apple Inc and Nokia Corp filed competing lawsuits over intellectual property used in the iPhone and other Apple products. The suits, filed this week in the United States and Germany, mark the second time in the past seven years that the companies have squared off in a dispute over patents. In 2011, Apple settled a two-year patent case with Nokia and agreed to pay licensing royalties for use of some Nokia patents in iPhones.



– Deirdre Hutton emerged as a contender to become the next BBC chair. She is on a final shortlist of three to head the board of directors for BBC. The two other candidates are David Clementi and John Makinson.

– Federal Reserve assessed a civil monetary penalty of $27 million on Bilbao-based BBVA and its subsidiary in New York BBVS Securities after it found that the non-bank unit had exceeded limits on activities previously imposed by the Fed’s board.

– Apple accused two companies associated with Nokia of conspiring with the Finnish company to “extract and extort exorbitant revenues unfairly and anticompetitively”. Nokia hit back at Apple on Wednesday saying that it had filed legal challenges of its own in the US and Germany.

– The UK government is seeking to connect an extra 600,000 homes in rural areas to superfast broadband, after BT released almost 300 million pounds into a scheme designed to address the gap between speeds available in the countryside and in cities.



– Brazilian construction company Odebrecht SA paid hundreds of millions of dollars in bribes to officials in 12 countries in a scheme lasting two decades, prosecutors said. Odebrecht and its affiliated petrochemical firm, Braskem, pleaded guilty in a U.S. federal court and together will pay at least $3.5 billion in penalties in a case brought by authorities in the United States, Brazil and Switzerland.

– Uber Technologies Inc, which defied California state regulators who said the service was illegal, stopped the autonomous car program in San Francisco after only a week.

– The United States has placed a unit of the Chinese e-commerce giant Alibaba Group Holding Ltd back on its blacklist of notorious marketplaces known for selling counterfeit goods and violations of intellectual property rights.

– The board of California’s state public pension system, Calpers, voted to lower expectations for future investment returns, a step that will increase pressure on the budgets of towns and cities across the state.

– President-elect Donald Trump met with the chief executives of Boeing Co and Lockheed Martin Corp and said his goal was to try to “bring costs down.”



– British car production accelerated to its highest level in 17 years in November amid rising domestic and international demand.

– Meggitt has sold its weapons training target provider to QinetiQ for 57.5 million pounds ($71.09 million).

The Guardian

– The UK government has pledged to give decent broadband speeds to up to 600,000 homes via a new 400 million pounds ($494.52 million) funding pot.

The Telegraph

– A Tunisian man wanted in connection with the deadly truck attack on a crowd at a Berlin Christmas market had been previously investigated over an earlier attack plot, a senior German official has said.

– UK opposition leader Jeremy Corbyn is facing more than a dozen resignations by MPs, Labour sources have said after a backbencher quit and triggered a by-election the Conservatives expect to win.

Sky News

– The Polish driver of the lorry that ploughed into the Berlin market was still alive after the attack and was shot dead just before the hijacker fled, say reports.

– The chair of the Civil Aviation Authority (CAA) has emerged as a surprise late candidate to lead the reconstituted board of the BBC.

The Independent

– Southern Railway is set to receive an unlikely “Christmas bonus” despite months of travel chaos and commuter misery, union bosses have said.

– Rolls-Royce has denied reports that it avoided U.S. sanctions by exploiting a loophole to sell equipment to Iran.