Thursday, March 29
Deal News of the Day (and Most Read on the Bloomberg Terminal):
Nissan, Renault Are Said in Merger Talks After Two-Decade Union (Bloomberg)
Renault shares moved up as much as 7.4% after Bloomberg first reported this news.
Two Koreas Set April 27 for Kim Jong Un’s Historic Walk South (Bloomberg)
Kim Jong Un could become the first North Korean leader in history to enter South Korea, when he steps across the heavily fortified border in just over four weeks for a summit with President Moon Jae-in.
Don’t Believe the Hype: Trump’s U.S. – South Korea ‘Great Deal’ Isn’t Much Different From Existing One (Bloomberg)
As markets brace for Trump to release the list of Chinese products he intends to hit with some $50 billion in tariffs, the administration’s relatively minor revisions to the U.S.-South Korea trade deal are buoying hopes for more quick compromises. (Bloomberg Balance of Power)
Seeing Red: Republicans Promised to Cut the Deficit. It’s Only Getting Worse (Bloomberg)
Republicans are presiding over an escalation in U.S. indebtedness after years of railing against widening deficits under Democrats. Bloomberg’s Anna Edgerton, Allison McCartney and Chloe Whiteaker show in a series of graphics how the party’s biggest legislative achievement since President Trump took office was a massive tax cut that’s projected to add more than $1 trillion to the federal tab over the next decade, even when accounting for faster economic growth. (Bloomberg Balance of Power)
Bloomberg Businessweek cover.
How Volkswagen Walked Away from a Near-Fatal Car Crash
The diesel cheating scandal nearly ended the company. Now it’s the No. 1 car seller on the planet, with staggering electric goals.
Campaign Finance Alert: Bitcoin Campaign Donations Pose Potential Fraud Risks in the U.S. (Bloomberg Law)
Rising bitcoin values have launched a new type of U.S. campaign donor: suddenly-wealthy cryptocurrency holders who want to support candidates that value the technology.
Market News from Saudi: Saudi Adopts New Bloomberg Bond Issuance System (Trade Arabia)
The Saudi Arabian Monetary Authority (SAMA) is now live on Bloomberg’s Bond Auction system, facilitating the participation of local and international banks operating in the Kingdom in the primary market for bills and Murabahas, one of the most common Islamic financing structures. Read the official press release here.
From the Land of the Ratings-Obsessed: Trump Rings Up Roseanne Barr After Her Show is a Ratings Winner (NYT)
The president, an obsessive about how TV shows perform, was enthralled by the “huge” ratings “Roseanne” had received, said a person familiar with the call. The show’s first episode, broadcast Tuesday evening on ABC, averaged 18.2 million viewers.
But let’s not forget this: Roseanne on the day in 1990 she shrieked ‘The Star-Spangled Banner’ (Washington Post)
Headlines from around the world.
The Japan Times: Pyongyang has discussed possibility of holding Abe-Kim summit in June
Folha de S. Paulo: Lula’s Campaign Caravan Attacked in Paraná, No One Hurt
Times of India: India, China for renegotiating bilateral investment pact
The Guardian: EU parents warned children need papers to stay in UK after Brexit
The Independent (South Africa): Malala returns to Pakistan for first time since being shot
Back by popular demand.
Click on this tweet for more photos from the MBS-Mike Bloomberg Starbucks visit in New York City this week.
@Badermasaker: HRH Mohammed bin Salman & @MikeBloomberg along with HRH Khalid bin Salman stop for coffee at NYC.
Best of late night.
“President Trump has fired his secretary of veterans affairs, and he’s replaced him with the official White House doctor — the man who gave Trump his presidential physical. Which sort of makes sense. I guess Trump was probably like, ‘Anyone who’s seen me naked deserves a reward.’”
— Trevor Noah
“This morning, Facebook announced major changes to its privacy settings. Yeah, apparently they’re going to start having some.”
— Conan O’Brien
“So the President almost definitely colluded with Russia, but there’s equally important news out there. Tiffany Haddish said someone bit Beyonce in the face! Yeah yeah, this is serious, this is serious!”
— Stephen Colbert
In observance of the holiday weekend, I will be back Monday, April 2 with the Sheekey Daily Read.