- Sell-off abates as Brexit opinion seen shifting (Reuters)
- IMF chief Lagarde says economic risks bigger if Britain leaves EU (Reuters)
- U.S. State Department Officials Call for Strikes Against Syria’s Assad (WSJ)
- St. Louis Fed’s Bullard says U.S. may only need single rate hike for now (Reuters)
- A Life of Violent Threats Paved Way for Orlando Attack (WSJ)
- Sanders vows to help Clinton beat Trump, but keeps campaign alive (Reuters)
- The World Economy Looks a Bit Like It’s the 1930s (BBG)
- Sig Sauer, maker of Orlando gunman’s weapon, is expanding rapidly in U.S. (Reuters)
- Senate inches toward possible gun control action (Reuters)
- Microsoft’s LinkedIn to Be Like Facebook for Careers, Gates Says (BBG)
- Draghi’s Euro-Saving Pledge Runs Into Risk of Populist Backlash (BBG)
- Sumner Redstone’s National Amusements Moves to Oust Five Viacom Directors (WSJ)
- Breaking the back of the London copper market (Reuters)
- U.S. corruption probe puts renewed pressure on Ericsson (Reuters)
- Boomers Are Making Sure the Divorces Keep Coming (BBG)
- Trumped by candidate’s rhetoric, Republican lawmakers at a loss for words (Reuters)
- Iraqi forces take Falluja government building from Islamic State (Reuters)
- U.S. says it will stay in Black Sea despite Russian warning (Reuters)
Overnight Media Digest
WSJ
– Dozens of State Department officials protested this week against U.S. policy in Syria, signing an internal document calling for targeted military strikes against the Damascus government and urging regime change as the only way to defeat Islamic State. (http://on.wsj.com/1UZrXRy)
– A two-year campaign by the United States and other countries to defeat Islamic State has failed to disrupt its capability to carry out terrorist attacks, CIA Director John Brennan said. (http://on.wsj.com/1UZryyt)
– A lawmaker from the UK’s main opposition Labour Party, Jo Cox, died Thursday after a brutal attack on the street in northern England, prompting a halt to official campaigning ahead of next week’s referendum on EU membership. (http://on.wsj.com/1UZrKOa)
– Sumner Redstone’s National Amusements moved to replace five board members of Viacom Inc, deepening turmoil in the mogul’s $40 billion media empire and setting up a likely legal battle over corporate governance. (http://on.wsj.com/1UZsinr)
FT
– Larry Ellison, Co-founder and chairman of Oracle said that Oracle would be the first company to reach $10 billion in cloud revenues.
– UK equities invested funds recorded a $1.1 billion of redemptions this week, as many investors are braced for the referendum on Britain’s membership of the EU.
– MPs have said that the National Grid, the company that run’s Britain’s electricity system, should be broken up to transform the UK’s energy supply.
– Sumner Redstone and Shari Redstone have moved to replace the five independent directors of the Viacom board, beginning a new saga in the fight for control of the media group that owns MTV, Nickelodeon and Paramount Pictures.
NYT
– Sumner Redstone’s National Amusements company announced On Thursday that it had moved to replace Philippe Dauman and four other directors on the Viacom Inc board. The development sets the stage for the firing of Dauman as the company’s chief executive, escalating the war for control of Redstone’s $40 billion media empire.(http://nyti.ms/1tzoPWU)
– More than five years after United merged with Continental, combined carrier United Continental Holdings Inc’s 24,000 flight attendants are still operating as if the company were running two airlines. That disconnect has made scheduling crews and flight routes more complicated and has contributed to operational challenges, including flight delays. (http://nyti.ms/1W2EmJQ)
– Capping months of speculation about major executive changes, Twenty-First Century Fox said on Thursday that Stacey Snider, the studio’s co-chairwoman, would succeed Jim Gianopulos as chairman and chief executive when his contract expires on June 30, 2017. (http://nyti.ms/1UzowoT)
– Volkswagen on Thursday outlined an ambitious plan to increase profit after an emissions scandal by sharply increasing the production of electric vehicles and reducing costs. (http://nyti.ms/2614kDL)
Canada
Britain
The Times
Volkswagen plans to launch more than 30 all-electric cars by 2025 as the scandal-hit company repositions itself as a leading player in environmentally sustainable driving. (http://bit.ly/1YvJUg1)
Lloyds has won a narrow victory over thousands of bondholders and will now not have to pay extra money to buy back their investments. The decision by the Supreme Court, which saves Lloyds about 1 billion pounds ($1.42 billion), has infuriated some of the savers and investors. (http://bit.ly/1YvJBlp)
The Guardian
The Bank of England has issued a fresh warning that a vote to leave the EU in next week’s referendum risks knocking economic growth, pushing the pound sharply lower and sending shockwaves through the global economy. (http://bit.ly/1Q7F8Ea)
The House of Commons energy and climate change committee’s report, Low Carbon Network Infrastructure, has called for the National Grid to be stripped of its powers for balancing the energy system in Britain due to a potential conflict of interest. (http://bit.ly/1OteKUI)
The Telegraph
Barclays has branded accusations of fraud levelled by financier Amanda Staveley against the bank as “fundamentally misconceived”, court documents show. (http://bit.ly/1W2gC8t)
HSBC has agreed to pay more than 1 billion pounds ($1.42 billion), to settle a securities fraud class action that stemmed from the bank’s takeover of a U.S. sub-prime lender more than a decade ago. (http://bit.ly/1XsxFBP)
Sky News
The Bank of England has issued a fresh warning on the economy ahead of the EU referendum, saying it is “increasingly probable” a Brexit would send the pound plunging further. (http://bit.ly/1YvGVnT)
Downing Street is targeting company bosses who have previously remained neutral in the EU referendum campaign in an attempt to swell business support for ‘Remain’ in a final push ahead of next week’s poll. (http://bit.ly/1YvIRwC)
The Independent
Past and current bosses of Unilever have voiced their support for the UK remaining in the EU ahead of the referendum on 23 June. (http://ind.pn/1YvIrXh)
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