Morning Brief: US sues AT&T to block its $85.4B Time Warner deal

Tuesday, November 21, 2017

What to watch today

In a short trading week, Tuesday sets up to be the busiest day for investors with a decent run of earnings to note as third quarter earnings season tails off. Notable earnings reports expected include Campbell’s Soup (CPB), Lowe’s (LOW), Dollar Tree (DLTR), and salesforce.com (CRM). We’ll also get results from both HP Inc. (HPQ) and HP Enterprise (HPE). On the economic calendar, the only significant report will be the October reading on existing home sales.

While in Washington, D.C. lawmakers are back in their home districts for Thanksgiving with next week expected to see an intense push on tax reform from Senate Republicans. All will not be quiet in the nation’s capital, however, as President Donald Trump is set to pardon his first set of turkeys since taking office at 1 p.m. ET.

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Top news

US sues to stop AT&T buying Time Warner: The U.S. Department of Justice sued AT&T Inc (T) on Monday to block its $85.4 billion acquisition of Time Warner Inc. (TWX), saying the deal could raise prices for rivals and pay-TV subscribers while hampering the development of online video. [Reuters]

Tencent surpasses Facebook in market value: Tencent Holdings Ltd. has racked up some impressive gains this week — becoming the first Chinese firm to be worth more than $500 billion and surpassing Facebook to be the world’s fifth-most valuable company. [Reuters]

Trump administration to announce North Korea sanctions: On Tuesday, the Trump administration declared North Korea a state sponsor of terrorism in the latest push to isolate the nation. North Korea on Monday joined Iran, Sudan and Syria on the terror blacklist, a largely symbolic step as the administration already has the authority to impose virtually any sanctions it wants on Kim Jong Un’s government over its nuclear weapons development. [AP]

Bitcoin falls after $31M theft:  Bitcoin fell the most in a week after the company behind cryptocurrency tether reported a $31 million theft. The amount was taken from the Tether Treasury wallet on Nov. 19 and sent to an unauthorized bitcoin address, according to an announcement on the company’s website. [Bloomberg]

This flat yield curve is no mystery, according to a Fed study: The gap between short and longer-term interest rates has been narrowing even as the Federal Reserve raises its policy rate, a trend that echoes the so-called “flattening” of the curve between June 2004 and December 2005. [Bloomberg]

CBS suspends Rose, PBS halts his show following misconduct claims:  Charlie Rose is the latest public figure to be felled by sexual misconduct allegations, with PBS halting distribution of his nightly interview show and CBS News suspending him Monday following a Washington Post report with the accusations of eight women. [AP]

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  • Saudi prince pins blame for Khashoggi death on favoured general
    News
    The Guardian

    Saudi prince pins blame for Khashoggi death on favoured general

    Crown Prince Mohammed bin Salman appears to have bowed to US pressure to blame one of his favoured generals for the death of dissident journalist Jamal Khashoggi in a move the Trump administration believes could allow Washington and Riyadh a way out of the escalating crisis. The sacking of Gen Ahmed al-Assiri, one of the embattled crown prince’s most trusted security officials and deputy head of Saudi intelligence, was announced on state television.

  • Loose Women accidentally shares Joe Swash's phone number
    News
    Digital Spy

    Loose Women accidentally shares Joe Swash's phone number

    He's probably been inundated with calls.

  • Royal tour: Duke and Duchess of Sussex unveil Sydney's Anzac memorial
    News
    The Telegraph

    Royal tour: Duke and Duchess of Sussex unveil Sydney's Anzac memorial

    The Duke and Duchess of Sussex have paid tribute to Australia’s war dead as they attended the unveiling of an Anzac memorial 84 years in the making.

  • British royals give gift of dignity to Australia's war dead
    News
    Business Insider UK

    British royals give gift of dignity to Australia's war dead

    Britain's Prince Harry and his wife, Meghan, brought the gift of dignity to Australia's war veterans on Saturday, laying a wreath for those who died at an Anzac war memorial. The Prince, in military uniform, and his wife, respectfully clothed in a high-necked black dress by New Zealand designer Emilia Wickstead, silently and gently placed the wreath to rest together before fighter jets thundered past. The memorial, in Sydney's Hyde Park, was first opened in 1934 by Harry's great, great uncle and namesake, Prince Henry, Duke of Gloucester.

  • The thing about Jeremy Corbyn is that he really is a Eurosceptic
    News
    The Independent

    The thing about Jeremy Corbyn is that he really is a Eurosceptic

    One of the most interesting things said this week was in one of Jeremy Corbyn’s questions to the prime minister. He asked Theresa May if she would confirm the “legal advice given to cabinet that, in the event of no deal, the government would still have to pay the EU a divorce bill of £30bn”. The best ministers, in my view, are those who refuse to accept legal advice as holy writ and are prepared to challenge advice that could be wrong.

  • Sports Direct to close landmark House of Fraser store in Manchester
    News
    The Independent

    Sports Direct to close landmark House of Fraser store in Manchester

    The landmark House of Fraser store in Manchester is to be closed after talks between its new owner, Sports Direct, and the building’s landlord failed to negotiate a new rent deal. The closure of the 182-year-old store, known by locals as “Kendal’s” from the days when the shop was owned by Kendal, Milne & Faulkner, will result in the loss of more than 160 jobs. The move comes after Sports Direct owner Mike Ashley took over House of Fraser earlier this year in a £90m deal that saved the department store from going into administration.

  • People might actually like you more than you think, and it's to do with the 'liking gap' – here's what that is
    News
    Evening Standard

    People might actually like you more than you think, and it's to do with the 'liking gap' – here's what that is

    "It's basically our finding that after a conversation with someone new, your conversation partner might like you more than you realise," Boothby explains. Subjects were harsher on themselves about their own first impression, suggesting they may have higher standards for themselves than for others, possibly, Boothby points out, because they know they could have done better.

  • Netflix TV shows: The 25 best series to watch on Netflix UK
    News
    The Independent

    Netflix TV shows: The 25 best series to watch on Netflix UK

    Netflix's televised revolution began in earnest in February 2013, when the machiavellian political schemer Frank Underwood looked straight into the camera and casually snapped a dog’s neck. It was the first episode of House of Cards – a $100 million TV series that would only be available on the Internet. Netflix was a major winner at the Emmys, its haul of 23 awards attesting to its power-player status.

  • M40 Caravan Crash: Father Pays Tribute To ‘Caring’ Former Soldier Killed In Collision
    News
    HuffPost UK

    M40 Caravan Crash: Father Pays Tribute To ‘Caring’ Former Soldier Killed In Collision

    The father of a former soldier who died in a crash with a caravan says his

  • Air France, unions reach deal aimed at ending months of strikes
    News
    France 24

    Air France, unions reach deal aimed at ending months of strikes

    Air France management and unions announced Friday that they had reached a deal aimed at ending months of strikes that set the airline back hundreds of millions of euros. The deal is a feather in the cap of new Air France-KLM CEO Ben Smith, who took the helm in August after a turbulent few months marked by 15 days of strikes, which caused widespread travel disruptions. "This way of working between all parties provides Air France and the Air France-KLM Group with a new perspective going forward, and it is my hope that it will ensure the future success of our airlines," he said in a statement.

  • News
    Business Insider UK

    Albania migration trends change, 52 percent mull leaving

    The study, led by Russell King of the University of Sussex and Albanian researcher Ilir Gedeshi, found that the country's potential migration had grown from 44 percent in 2007 to 52 percent in 2018. Since Albania toppled communism in 1991, more than 1.4 million Albanians, nearly half the current population of the Balkan country, have emigrated mostly to neighboring Italy and Greece and less to the Britain, Germany and the United States. The study showed economic motives were still the main factor, but less so, and that those mulling migration now prefer Germany and the U.S.

  • The Pursuit of Hoppiness, Exeter, pub review
    News
    The Telegraph

    The Pursuit of Hoppiness, Exeter, pub review

    Here is one of Exeter’s newest pubs, having opened its doors in March in what was once a compact language school, at the end of a terrace that survived the Baedeker Blitz of 1942. New meets old, even though there are no nicotine stains on the ceiling, or the imprint of generations on a worn stone floor. Your grandad didn’t drink here. 

  • Money-laundering watchdog to set first cryptocurrency rules by June
    News
    Reuters

    Money-laundering watchdog to set first cryptocurrency rules by June

    The global watchdog for money laundering will set up its first rules on oversight of cryptocurrencies by June, a major step towards creating international standards for an asset currently subject to patchy regulations. The Paris-based Financial Action Task Force (FATF) said on Friday jurisdictions worldwide will be required to license or regulate cryptocurrency exchanges and some firms providing encrypted wallets, to help stamp out the use of digital money for money laundering, terrorism financing or other crimes. Firms providing financial services for issuances of new cryptocurrencies - initial coin offerings - must also be subject to the rules, it said.

  • News
    Sky News

    Public warned amid fear black panther is loose in Scotland

    Police have warned the residents of two villages in Scotland not to approach a black panther feared to be on the loose in the area. A suspected sighting was reported at about 8.45am on Friday in fields near the B730, a road between the villages of Drongan and Coalhall in East Ayrshire. The area is popular with dog walkers and there are two schools in Drongan.

  • China plans to ‘launch its own artificial moon’ by 2020
    News
    The Independent

    China plans to ‘launch its own artificial moon’ by 2020

    China is planning to launch its own “artificial moon” by the year 2020, it has been reported. The city of Chengdu has unveiled plans to replace the city’s streetlights with a satellite that will boost the glow of the real moon. The artificial moon will be able to light an area with a diameter of 10 to 80 kilometres.

  • Man Wears Michael Myers Mask to Frighten Unsuspecting Housemate
    Storyful

    Man Wears Michael Myers Mask to Frighten Unsuspecting Housemate

    Ben Schmidt played a cunning Halloween prank on his unsuspecting housemate. He donned his newly-bought mask of horror character Michael Myers (from the Halloween film series), then hid in a wardrobe to frighten his housemate. Surprisingly, the distracted woman did not notice Ben’s presence when he first stepped out of the wardrobe. Her later reaction didn’t disappoint though: she spun quickly, shouting in surprise before doubling up with laughter. Credit: Ben Schmidt via Storyful

  • X Factor's Top 16 contestants get an all-star makeover
    Digital Spy

    X Factor's Top 16 contestants get an all-star makeover

    With the first live shows imminent... From Digital Spy

  • Harris Hawk swoops over London to scare away pigeons and gulls from city landmarks
    News
    Evening Standard

    Harris Hawk swoops over London to scare away pigeons and gulls from city landmarks

    A Harris Hawk is acting as a winged crusader to scare away gulls and pigeons in London. Footage shows four-year-old Stella swooping around city landmarks to keep other birds from fouling or roosting on buildings. As she glides through the sky she watches over St Paul’s Cathedral and the Millenium Bridge to name just a couple of the sites.

  • Testy humpback whale chases away watchers who get too close
    News
    Reuters

    Testy humpback whale chases away watchers who get too close

    The French overseas territory is one of the rare sites where swimming with whales is allowed, but local conservationists are unhappy that divers are not following the rules and the whales are fighting back. One agitated humpback female, swimming with her calf, was seen on Wednesday swiping at encroaching divers with her fin, which can measure up to 18 feet (5.5 metres). "It's a clear signal and coming from a 30 tonne animal, it can result in fatal accidents," said Olivier Hoarau, a conservationist from the CEDTM research and protection centre dubbed the "tranquillity brigade".

  • Carrots could be key to making greener buildings, say researchers
    News
    Reuters

    Carrots could be key to making greener buildings, say researchers

    Crunchy and tasty, yes, but could carrots also strengthen cement and cut carbon dioxide emissions for the building industry? A group of researchers at Britain's Lancaster University has been using a household food blender to mix particles from the root vegetable with concrete to see if they can produce a stronger and more environmentally sound product.     "We found out you could increase the strength of concrete by 80 percent by using a small amount of this new material," lead researcher Mohamed Saafi told Reuters.

  • Clapham Common crash: Marked police car hits teen, 18, while responding to emergency call
    News
    Evening Standard

    Clapham Common crash: Marked police car hits teen, 18, while responding to emergency call

    A teenager has been rushed to hospital after being hit by a marked police car on an emergency call, police said. The car struck the 18-year-old pedestrian in Clapham Road near Clapham Common, south-west London, at about 3.40pm on Friday, Scotland Yard said in a statement. Witnesses said the Metropolitan Police officers were responding to a fight, according to the Independent.

  • Topshop has just announced something huge - and makeup lovers will be very happy
    News
    Hello!

    Topshop has just announced something huge - and makeup lovers will be very happy

    When Topshop announced it would be ditching its beauty collection back in 2017, makeup fans were NOT happy. After eight years of being a go-to makeup brand, they bid farewell without even giving us a proper goodbye (sob). If you used to stock up in Topshop you’ll be pleased to know that some cult favourites are returning - remember the infamous glow pots?

  • Ford could have paid nothing to own VW after World War II
    News
    motor1

    Ford could have paid nothing to own VW after World War II

    The British were willing to give the company away.

  • Alpine airlift sends in supplies to isolated French villages
    News
    Reuters

    Alpine airlift sends in supplies to isolated French villages

    High in the French Alps, a helicopter airlifts food, logs and a Renault Twingo car for the residents of two tiny hamlets left isolated after a rockslide in April. A heap of rubble and a scar on the hillside are all that remains of the only road to Beroulf and Sainte Sabine, with the 45 residents forced to hike back from work through the forest with dinner in a backpack. On Wednesday they hired a helicopter to go back and forth 17 times to deliver heavier supplies across the valley.

  • Pictures of the Week: Pies, pumpkins and Prince Harry
    Yahoo News UK

    Pictures of the Week: Pies, pumpkins and Prince Harry

    Here’s our selection of some of the most memorable moments from around the world over the past week.