- Italy Sinks Into Political Limbo as Defeat Sweeps Renzi Away (BBG)
- Investors Shrug Off Italy Referendum Result (WSJ); Markets Rise After Italy Turns Down Referendum (BBG)
- Italy’s ‘No’ Poses Trouble for Eurozone (WSJ)
- Oil tops $55 for first time in 16 months as OPEC deal fuels buying (Reuters)
- Merkel regrets Renzi resignation but will work with new Italy government (Reuters)
- Rescue of Italian bank Monte Paschi in danger after Renzi’s defeat (Reuters)
- Euro rebounds after hitting 21-month low on Italian referendum defeat (Reuters)
- New Zealand Prime Minister John Key Resigns (WSJ)
- Trump has broad power to implement immigration policies: legal experts (Reuters)
- Trump Takes On China in Tweets on Currency, South China Sea (BBG)
- China says Trump clear about Taiwan, in touch with his team (Reuters)
- Don’t Hold Your Breath on Fannie Mae and Freddie Mac (WSJ)
- Greenspan’s Irrational Exuberance Looks Entrenched, 20 Years On (BBG)
- Dakota Pipeline Project Halted as Permit for Last Leg Is Denied (WSJ)
- Trump advisors aim to privatize oil-rich Indian reservations (Reuters)
- Credit Restrictions Cost Home Buyers ‘Deal of a Lifetime’ (WSJ)
- Fake US embassy in Ghana shut down after 10 years issuing visas (Guardian)
- Airbnb Ends Fight With New York City Over Fines (NYT)
- Never-Trump Senate Republicans Grapple With His Upset Victory (BBG)
- Brussels ‘close’ to free-trade deal with Japan (FT)
- SFO Probes Israeli Billionaire, Ex-ENRC Directors on Congo Deals (BBG)
- Rich Colleges’ Endowments Targeted by Trump Backer in U.S. House (BBG)
Overnight Media Digest
WSJ
– The Obama administration said Sunday that it had denied a permit needed to complete the last leg of an oil pipeline across the Midwest, prompting cheers from opponents but warnings that the move could be short-lived since President-elect Donald Trump supports the project. http://on.wsj.com/2h8S5kX
– President-elect Donald Trump widens the circle of candidates for the nation’s top diplomatic job, a list that now includes Exxon Mobil Corp CEO Rex Tillerson. http://on.wsj.com/2gpBEg5
– Authorities said Sunday the death toll has risen to 33 people from a fire that broke out Friday night during a party and electronic-music performance at a warehouse in this San Francisco suburb. http://on.wsj.com/2gpMS46
– Italian voters on Sunday rejected constitutional changes backed by the government, prompting Prime Minister Matteo Renzi to announce his resignation and handing populists a victory in the heartland of Europe. http://on.wsj.com/2g96cVV
– Donald Trump criticized Rexnord Corp for its plans to move a factory from Indianapolis to Mexico, the second time the president-elect has pressed an attack against a U.S. company set to shift production abroad. http://on.wsj.com/2g0Nmgb
– The euro fell after Italian voters rejected constitutional reform in a referendum Sunday, but contained losses are a sign that investors had already anticipated an unfavorable result for Italian Prime Minister Matteo Renzi. http://on.wsj.com/2gX3zVX
– Former New York City mayor and billionaire philanthropist Michael Bloomberg has spent hundreds of millions of dollars of his fortune over the past decade fighting tobacco use in the developing world. Now, with cigarette use declining globally, he is deepening his campaign. http://on.wsj.com/2gr83ml
– International Business Machines Corp CEO Ginni Rometty is one of 16 business leaders who will advise President-elect Donald Trump as members of the President’s Strategic and Policy Forum, Trump said Friday. http://on.wsj.com/2fYunrs
FT
British luxury fashion brand Burberry has rejected multiple takeover offers from U.S. handbag maker Coach Inc , the Financial Times reported on Sunday.
Apple Inc is wading in to the debate over regulation of self-driving cars, declaring it is excited about the potential for automated transportation and calling on U.S. regulators not to restrict testing of such vehicles.
France’s Amundi is the likely winner in the bidding race to buy UniCredit’s asset manager Pioneer, beating a consortium led by Italy’s post office and Ameriprise Financial .
NYT
– Airbnb has agreed to drop the lawsuit that it filed against New York City two months ago. The suit challenged a New York law that called for fines of as much as $7500 for illegally listing a property on a rental platform such as Airbnb. It agreed to drop the suit as long as New York City enforces the new law only against hosts and does not fine Airbnb. http://nyti.ms/2gEZGqn
– Duet Group said Cheung Kong Infrastructure , an investment vehicle controlled by Li Ka-shing, has offered to acquire the Australian pipeline and electricity company for roughly $5.4 billion. The company said it was evaluating the offer. http://nyti.ms/2gF8YTd
– The Standing Rock Sioux Tribe won a major victory on Sunday in its battle to block an oil pipeline being built near its reservation when the Department of the Army announced that it would not allow the pipeline to be drilled under a dammed section of the Missouri River.The Army said it would look for alternative routes for the Dakota Access pipeline. http://nyti.ms/2gF0tYz
– Top Democratic lawmakers in California are moving to enact sweeping legislation to protect undocumented immigrants from deportation, the first sign of what they say will be an effort to resist immigration policies championed by President-elect Donald Trump. The measures would provide free legal help to undocumented immigrants during deportation proceedings, offer more assistance in criminal court, and further limit local law enforcement’s cooperation with federal immigration agents. http://nyti.ms/2gEZhEt
Britain
The Times
* Prudential has begun a review of its 45 billion pounds ($57.05 billion) pension liabilities business in a move that could lead to the sale of the division and a potential restructuring of the entire company. http://bit.ly/2h8uqRF
* Royal Bank of Scotland Group Plc has struck a deal to pay about 40p a share to settle claims over its ill-fated rights issue in 2008 but has yet to reach settlement with thousands of retail investors. http://bit.ly/2gqcZIk
The Guardian
* Britain’s information commissioner has reopened the file on construction industry blacklisting amid fears that the malpractice is still taking place. http://bit.ly/2gWjE0y
* AstraZeneca has said it will move some back office jobs from the UK to Costa Rica, Poland and Malaysia in a drive to cut costs following a slide in profits. http://bit.ly/2fZVCNx
The Telegraph
* Formula One is locked in a dispute with authorities in India over 41.1 million pounds of unpaid Grand Prix fees dating back to 2012, according to company documents. http://bit.ly/2g0jPDw
* The Institute of Chartered Accountants in England and Wales (ICAEW), which regulates accountants, said Theresa May “should not waste this opportunity to modernise UK corporate governance”. http://bit.ly/2gq5OA1
Sky News
* Sky News has learnt that Greenergy, which claims to transport a quarter of the road fuel used in the UK, has been in negotiations with the infrastructure group Brookfield for several months. http://bit.ly/2h7y2Dl
* Boris Johnson has outlined the four-point blueprint the government wants to achieve when it negotiates the UK’s exit from the European Union (EU). http://bit.ly/2gWp8WG
The Independent
* Boris Johnson has risked igniting a row with Downing Street after revealing he believes international students should be exempt from the government’s immigration figures. http://ind.pn/2fZ1EOm
* Arron Banks, United Kingdom Independence Party’s biggest donor and one of the first Britons to meet Donald Trump after his election victory, has denied claims he offered a “bribe” to a major UK political party in exchange for support for his Leave.EU Brexit campaign. http://ind.pn/2g96tYU
The post Frontrunning: December 5 appeared first on crude-oil.top.