Frontrunning: November 28

  • Trump Alleges That ‘Millions of People’ Voted Illegally (WSJ)
  • Oil slip sends dollar, bond yields skidding (Reuters)
  • Italian Lenders Slide on Vote Worries to Drag Down Europe Stocks (BBG)
  • OPEC makes last-ditch bid to save oil deal as tensions grow (Reuters)
  • How Iran, Russia Could Derail Oil-Production Deal (WSJ)
  • Tug of War Delays Some of Trump’s Key Appointments (WSJ)
  • French conservatives back Fillon for president, left flounders (Reuters)
  • How to Kill the Volcker Rule? Don’t Enforce It (WSJ)
  • Islamic State retreat reveals terror plots against Europe (Telegraph)
  • Trump’s dilemma: Support Big Oil and Big Corn? (Reuters)
  • Bomb defused near US embassy in Philippines (AFP)
  • Paul Manafort Is Back (BBG)
  • Fukushima nuclear decommission, compensation costs to almost double (Reuters)
  • Lufthansa Headed for Worst Pilot Strike on Hard-Line Stance (BBG)
  • How Amazon Gets Its Holiday Hires Up to Speed in Two Days (WSJ)
  • Wells Fargo Hit With Class Action Over Target-Date Funds (BBG)
  • Fearing tighter U.S. visa regime, Indian IT firms rush to hire, acquire (Reuters)
  • Fed braces for Trump administration shake-up (The Hill)
  • Uber drivers in U.S. cities to join planned worker protests (Reuters)
  • Britain seeks to strengthen ties with Poland before Brexit (Reuters)

Overnight Media Digest


– President-elect Donald Trump dismissed charges that his victory was illegitimate, lashing out on Twitter at critics who point to Hillary Clinton’s lead of more than two million votes in the national popular vote as evidence.

– The death of Fidel Castro is putting unexpected pressure on President-elect Donald Trump to follow through on earlier promises to reverse the recent openings to Cuba made by President Barack Obama.

– Corporations are scrambling to retool their lobbying efforts as Republicans, preparing for control of the House, Senate and White House come January, hope to break the partisan logjam that has blocked the passage of legislation for six years.

– So-called peak oil demand is a mind-bending scenario that global producers such as Royal Dutch Shell and state-owned Saudi Aramco are beginning to quietly anticipate.

– High-quality bonds and financial stocks that had moved in lockstep before Donald Trump’s election are going their separate ways, an example of how Trump’s win has reshuffled markets in a way not seen since the financial crisis.

– The World Trade Organization as early as Monday is expected to rule that Boeing Co has been granted illegal state subsidies for its newest long-range jetliner, according to people familiar with the finding. here

– Francois Fillon, a free market social conservative, won France’s center-right primary by a landslide, positioning him as the leading presidential candidate to take on National Front leader Marine Le Pen in next spring’s election.


German pilots union VC has announced further strikes at Lufthansa for Tuesday and Wednesday this week after fresh talks at the end of a four-day walkout failed to settle their long-running pay dispute.

Barclays Plc will combine its banking and investment services in an overhaul of its 30-year-old stockbroking operation. The bank said existing Barclays Stockbrokers customers would be transferred across to the Barclays Direct Investing site next year, ending three decades of the Stockbrokers brand.

Swedish home appliance maker Electrolux AB is testing the concept of “Uber for laundry” in which customers would use their own washing machines to wash other people’s clothes.

Spanish bank Banco Santander SA to abandon plans to split its UK operations in two to comply with ringfencing rules as it seeks greater flexibility to shift operations out of Britain if needed because to Brexit.


– President-elect Donald Trump said he had fallen short in popular vote in the general election only because millions of people had voted illegally. He wrote, “In addition to winning the Electoral College in a landslide, I won the popular vote if you deduct the millions of people who voted illegally”.

– Uber showed up in Europe in late 2011, and has faced vocal opposition. The heated battles will culminate on Tuesday in arguments before the European Court of Justice which will most likely determine how Uber can operate across the European Union, one of the company’s largest international markets.

– Nearly three weeks after the election, Hillary Clinton’s campaign said it would participate in a recount process in Wisconsin incited by a third-party candidate and would join any potential recounts in two other closely contested states, Pennsylvania and Michigan.


The Times

* Tata Steel Ltd is plotting an investment spree that could pump 100 million pounds ($124.7 million) a year into its British steelworks – only eight months after hoisting a “for sale” sign over the former Corus empire.

* Bank of England Governor Mark Carney is working on a secret plan to keep British businesses in the single market for at least two years after the country leaves the European Union.

The Guardian

* About 160,000 UK households are to face higher energy bills in the new year after the collapse of GB Energy Ltd .

* The Equality and Human Rights Commission has written to the UK political parties asking them to tone down their Brexit rhetoric.

The Telegraph

* Ladbrokes Coral Group PLC is reportedly weighing up a bid for Australia’s largest bookie, Tabcorp Holdings Ltd in a deal that would cost the betting giant more than 2 billion pounds.

* Clydesdale Bank Chief Executive David Duffy has ‘no concerns’ on his ability to execute a Williams & Glyn’s Bank Ltd <IPO-WILL.L> deal.

Sky News

* Sky News can reveal that executives from companies including Facebook, Citymapper and Love Home Swap will be appointed to Sadiq Khan’s business advisory board.

* Sky News understands that The People’s Trust, a new investment trust, will publish its approach to stewardship on Monday with a declaration that performance-related awards should be replaced by shares that form part of executives’ basic salary and must be held for at least seven years.

The Independent

* Nigel Farage has announced plans to apologise to the American people on behalf of Britain for criticisms made of Donald Trump during his presidential campaign.

* Nigel Farage has hinted he will back far-right National Front leader Marine Le Pen in next year’s French presidential election.

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