- Bund Brexit rally puts zero yield firmly in sight (Reuters)
- Investors Shed Assets as Government-Bond Yields Hit Fresh Lows (WSJ)
- Stocks Retreat With Oil as Record-Low Bond Yields Point to Angst (BBG)
- Oil prices ease from 2016 highs on stronger dollar (Reuters)
- Puerto Rico Debt Crisis Bill Passes U.S. House (WSJ)
- U.S., Iraqi officials can’t confirm report Islamic State leader Baghdadi wounded (Reuters)
- Obama approves broader role for U.S. forces in Afghanistan (Reuters)
- Migrant boys tell of attacks, murder in Libyan ‘hell’ (Reuters)
- We will respond to entry of U.S. naval vessel into Black Sea (Reuters)
- McConnell: Donald Trump ‘Doesn’t Know a Lot About the Issues’ (BBG)
- Emails in Clinton probe dealt with planned drone strikes (Reuters)
- Donald Trump’s Business Plan Left a Trail of Unpaid Bills (WSJ)
- QuickTake Q&A: Why Puerto Rico’s Debt Became a National Issue (BBG)
- Latest threat to online lenders: ‘stacking’ of multiple loans (Reuters)
- How a 143-Year-Old Swiss Bank Took a Quick Road to Ruin in Asia (BBG)
- Tesla’s Betting You’ll Pay $9,000 for a Software Upgrade (BBG)
Overnight Media Digest
WSJ
– The U.S. House of Representatives on Thursday approved legislation to stem Puerto Rico’s escalating debt crisis, capping an unusually bipartisan course on a fraught and technically complex compromise measure, following months of internal wrangling. (http://on.wsj.com/25QbNlp)
– Twitter Inc has notified millions of users that their accounts are at risk of being taken over after a database containing nearly 33 million purported usernames and passwords for the social-blogging service was made public Wednesday. (http://on.wsj.com/25QdP4U)
– Thomas Perkins, one of the founding fathers of modern venture capital investing, died on Tuesday at the age of 84 at his home in Belvedere, California, according to the Marin County coroner’s office. (http://on.wsj.com/25QdE9X)
– U.S. President Barack Obama endorsed Hillary Clinton for president, via a video released by the Clinton campaign, after Obama met with Clinton’s Democratic primary rival Bernie Sanders earlier in the day. (http://on.wsj.com/25QdShj)
– U.S. auto safety investigators are reviewing reports of suspension problems in Tesla Motors Inc’s Model S cars, a government spokesman said on Thursday. (http://on.wsj.com/25QcIm2)
FT
Tata Steel Ltd has pushed back to July the timetable for making a decision on the future of its UK steel operations, according to a person close to the Indian company.
Airbus Group said on Thursday it was selling its remaining stake in Dassault Aviation, ending a longstanding arrangement to warehouse shares in the maker of combat and business jets on behalf of the French government.
UK Health Secretary Jeremy Hunt asked Deloitte to advise on an overhaul of NHS Professionals, a step that could lead to a part-privatisation of the service.
Singapore wealth fund GIC is set to buy a stake in Ireland’s Eir, in a deal that is expected to value the telecoms group at more than 3.3 billion euros ($3.73 billion), according to people involved in the process.
NYT
– National Amusements, the theater chain through which Sumner Redstone controls his $40 billion empire, is preparing to replace a handful of directors on the Viacom board, a move that is expected to serve as a prelude to the ouster of the company’s embattled chief executive. (http://nyti.ms/1VPLuJo)
– Electric carmaker Tesla Motors is under scrutiny from federal regulators over suspension failures attributed to its biggest-selling model – along with reports that it had asked owners not to disclose the problem. (http://nyti.ms/1XJWSbw)
– German prosecutors said on Thursday that they were investigating whether a Volkswagen manager encouraged employees to destroy or remove documents last year, shortly before the Environmental Protection Agency publicly accused the carmaker of illegally manipulating emissions tests in the United States. (http://nyti.ms/1ZCTAnI)
– As part of the continuing global backlash over the popular ride-sharing service, Uber and two of its senior European executives were convicted and fined nearly $500,000 in France on Thursday for running an illegal transportation business. (http://nyti.ms/28oYDhv)
Britain
The Times
– The UK oil industry is on track to shed 120,000 jobs by the end of the year, according to a report by Oil & Gas UK, an industry lobby group. It said that the industry would support about 330,000 UK jobs this year, down from 450,000 in 2014. (http://bit.ly/1U4gENC)
– House prices fell last month at their steepest rate since the end of 2011 as uncertainty about Brexit and the introduction of a new tax on buy-to-let landlords hit the market. (http://bit.ly/1U4grtP)
The Guardian
– Philip Green’s wife enjoyed a 53 million pound ($76.65 million) windfall after the sale of BHS’ headquarters to Arcadia, the retail business controlled by the couple. The deal for Marylebone House in north London is likely to pose further questions for the Greens about their role in the collapse of BHS. (http://bit.ly/1U4j2E8)
– Billionaire investor George Soros has warned that a Brexit vote this month would make the breakup of the EU “almost certain”. (http://bit.ly/1U4giql)
The Telegraph
– Amazon.com Inc’s Amazon Fresh is to make its highly anticipated entrance into the UK grocery market in a move which threatens to damage yet further Britain’s already under-pressure “Big Four” supermarkets. (http://bit.ly/1YaZ9L8)
– Permanently low interest rates are ruining investments and savings, the Organisation for Economic Co-operation and Development (OECD) has warned, undermining long-term economic growth. (http://bit.ly/1VPpMFo)
Sky News
– McColl’s retail Group Plc, the publicly listed convenience store operator, is among several parties who have lodged an interest in buying the portfolio of Co-op properties. (http://bit.ly/1U4gztn)
– Members of the British Bankers’ Association (BBA) are expected to endorse plans put forward last year to subsume the organisation under a new umbrella body that will represent a broader constituency of financial services firms. (http://bit.ly/1U4ho5C)
The Independent
– Vodafone Group Plc customers have been urged to check their bills immediately after thousands of customers reported errors. Martin Lewis, founder of Moneysavingexpert.com, said customers should check that their direct debit had been set up correctly and that they were on the right tariff after his website received a huge number of reports of these issues and poor customer service. (http://ind.pn/1U4hxGc)
– Argos customers who signed up for store cards could receive a refund of up to 100 pounds each after the company revealed it had wrongly charged many for late fees. Home Retail Group Plc, the company behind Argos, said it is has put aside up to 30 million pounds to correct the mistake. Affected customers will receive a letter from the retailer in the next few weeks. (http://ind.pn/1U4hBpm)
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