- The narrative continues this time from Reuters: Putin turned election hacks in Trump’s favor: officials (Reuters)
- Russian Special Forces Key to Aleppo Victory (WSJ)
- Dollar Hits Speed Bump in Fed-Driven Rally; Bonds Stem Declines (BBG)
- Battered euro and yen recover after dollar surge (Reuters)
- Wall Street’s 2017 Forecasts Are Doomed If Trump Doesn’t Follow Through On Campaign Promises (BBG)
- Yahoo’s Password Move May Put Verizon Deal at Risk (WSJ)
- China’s Wanxiang gets approval to produce Karma electric cars (Reuters)
- RNC Security Foiled Russian Hackers (WSJ)
- China Plans Prudent, Neutral Monetary Policy for Next Year (BBG)
- China holds first live-fire drills with aircraft carrier, warships (Reuters)
- Valeant’s 2016 Has Been All Pain, No Gain (BBG)
- Buffett’s Era of 8.5% Dow Dividends Is Coming to an End (BBG)
- Japan Dethrones China as Top U.S. Foreign Creditor (WSJ)
- Breakthrough in Japan, Russia islands row eludes PM Abe, Putin (Reuters)
- Sanofi Said to Be in Advanced Talks to Acquire Actelion (BBG)
- Chesapeake Energy Drills Deeper for Profit (WSJ)
- ‘Trump trade’ drives ninth biggest weekly rush to stocks: BAML (Reuters)
Overnight Media Digest
WSJ
– Russian hackers tried to penetrate the computer networks of the Republican National Committee, using the same techniques that allowed them to infiltrate its Democratic counterpart, according to U.S. officials briefed on the matter. http://on.wsj.com/2hBTGNq
– Facebook is inching closer to fact-checking the news on its platform, a role that Chief Executive Mark Zuckerberg shunned a month ago, by rolling out steps to weed out “the worst of the worst”, the social media platform said on Thursday. http://on.wsj.com/2hBPXzB
– Yahoo Inc’s move to force some users to reset their passwords following a newly disclosed security breach could disrupt the planned sale of its core assets to Verizon , security experts say. http://on.wsj.com/2hBM3XB
– Natural-gas giant Chesapeake Energy is drilling ‘supersize’ wells that run for miles underground, hoping to produce more fossil fuels for less cost and turn its fortunes around in an era of low oil prices. http://on.wsj.com/2hBRaHl
– The evacuation of thousands of civilians and rebels from the last opposition-held pocket in Aleppo began, forcing residents who pleaded to escape the violence to accept they might never return home. http://on.wsj.com/2hBRc1V
– Dow Chemical finally gained the right to convert $4 billion of preferred stock into common shares, ridding the company of an expensive burden and depriving Warren Buffett of another lucrative crisis-era investment. http://on.wsj.com/2hBOdXi
FT
– French nuclear group Aveva received a 500 million euro offer for a 10 percent stake in a in a new nuclear fuel company that will be split off from its parent. The company named is preparing to split off its uranium mining and nuclear fuel activities into NewCo.
– Gilead Sciences was ordered by a jury to pay a subsidiary of Merck & Co $2.54 billion in damages in a patent-infringement trial over two of Gilead’s Hepatitis C drugs.
– Facebook is setting up a partnership with fact-checking organisations and will try out new ways to report and flag fake news this week to try to address the “worst of the worst” hoaxes spread by spammers.
– Italy’ largest bank by market capitalisation Intesa Sanpaolo has been fined $235 million by U.S. regulators for violating anti-money laundering and bank secrecy laws.
NYT
– Facebook Inc said on Thursday that it had begun a series of experiments to limit misinformation on its site. The tests include making it easier for its 1.8 billion members to report fake news, and creating partnerships with external fact-checking organizations to help it indicate when articles are false. The company is also changing some advertising practices to stop purveyors of fake news from profiting from it. http://nyti.ms/2gPxMaJ
– A security researcher said hackers are offering records of more than 1 billion Yahoo Inc users on Dark Web, after the company disclosed the largest known data breach in history. http://nyti.ms/2h6Ug4Z
– The prosecutor in the trial against Christine Lagarde, the head of the International Monetary Fund, raised the possibility that she would be acquitted of criminal charges linked to the misuse of public funds, after he called the case “very weak” on Thursday. http://nyti.ms/2gHDWqb
– A wide-ranging investigation into generic drug prices took its most significant turn yet on Thursday, as state attorneys general accused two industry leaders, Teva Pharmaceuticals and Mylan NV, and four smaller companies of engaging in brazen price-fixing schemes – and promised that more charges were coming. http://nyti.ms/2hDjisZ
– California’s state energy agency voted unanimously Wednesday to approve new regulations for energy efficiency in desktop computers and monitors. The rules passed by the state’s energy agency represent another step in California’s efforts to drastically lower its greenhouse gas emissions. http://nyti.ms/2hqOPkb
Britain
The Times
* Online food delivery group Just Eat Plc has announced plans to buy its rivals Hungryhouse in Britain and SkipTheDishes in Canada, for a total of about 300 million pounds ($372.54 million). (http://bit.ly/2hM3rMb)
* Lloyd’s of London said it had begun finalising plans to set up a new EU-based subsidiary and was looking at five European cities as homes, with Dublin, Frankfurt and Paris understood to be on its shortlist. (http://bit.ly/2hM5pw8)
The Guardian
* The Dutch company Heineken NV and the investment firm Patron Capital have won a 400 million pounds ($496.72 million) battle to take over Punch Taverns Plc, which has more than 3,000 pubs across UK. (http://bit.ly/2hLTSN4)
* British Communications Workers Union said the Post Office had rejected its offer to suspend strike next week after talks over jobs, pay and pensions broke down on Thursday. (http://bit.ly/2hM2kft)
The Telegraph
* Britain will be presented with a 50 billion pounds ($62.09 billion) “exit bill” by the European Union as soon as Theresa May triggers Article 50, EU chief negotiator Michel Barnier is warning. (http://bit.ly/2hLURgq)
* Tesco Plc’s former commercial boss Kevin Grace has been told that he will not face charges from the Serious Fraud Office over the 326 million pounds ($404.83 million) accounting scandal that threw the supermarket into crisis and cost him his job. (http://bit.ly/2hM0yej)
Sky News
* Retailer JD Sports Fashion Plc is to launch an investigation following claims aired in a documentary that conditions are “worse than a prison”. (http://bit.ly/2hLTBK1)
* Rentokil Initial Plc, the support services group, has agreed a deal to combine parts of its workwear and hygiene units with Haniel, a privately owned German company. (http://bit.ly/2hLYQtx)
The Independent
* European pay-TV firm Sky Plc has agreed to a takeover bid from Rupert Murdoch’s Twenty-First Century Fox for 11.7 billion pounds ($14.53 billion)in a deal that could create one of the most powerful media groups in the UK. (http://ind.pn/2hLPf5E)
* The Bank of England has kept interest rates on hold at 0.25 percent – but the minutes of the Monetary Policy Committee’s latest meeting also state that the recent strengthening of sterling is likely to help contain inflation. (http://ind.pn/2hLW86X) ($1 = 0.8053 pounds)