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Media Digest

 

 

 

In the news

  • Oil slump rocks markets again in equity rout (Reuters)
  • Global Stocks on Brink of Bear Market as Oil Slides; Ruble Drops (BBG)
  • Global Stocks Slide on Oil Rout (WSJ)
  • Emerging Markets Roiled as Stock Selloff Surpasses Asian Crisis (BBG)
  • Rising Debt in Emerging Markets Poses Global Threat (WSJ)
  • China shares slip as oil slides, outweighing stimulus hopes (Reuters)
  • Europe Stocks Fall to 13-Month Low as Results Stoke Growth Fears (BBG)
  • Former U.S. VP candidate Palin endorses Trump with a ‘hallelujah’ (Reuters)
  • Americans missing in Baghdad kidnapped by Iran-backed militia (Reuters)
  • Hong Kong Dollar Forwards Sink to Weakest Since ’99 on Peg Bets (BBG)
  • Saudi Arabia and Iran Tussle Over Exports to China (WSJ)
  • A GoldMAN? What Kind of Man Spends Millions to Elect Ted Cruz? (BBG)
  • Militants kill at least 19 as they storm Pakistan university (Reuters)
  • Michigan Governor Seeks $28 Million in Emergency Funding for Flint (WSJ)
  • UBS’s Weber Says China Has ‘Plenty Ammunition Left’ Amid Turmoil (BBG)
  • Some Bankrupt Oil and Gas Drillers Can’t Give Their Assets Away (BBG)
  • VW’s German Union Supports CEO’s Efforts to Solve Diesel Crisis (BBG)
  • Billionaire green activist Steyer says not yet ready to back Clinton, open to Sanders (Reuters)

Around the Media:

Media Digest

 

FT

The International Energy Agency said on Tuesday that the oil market “could drown in oversupply” from the rise in Iranian output which could threaten a further collapse in oil prices

United Nations labour agency, International Labour Organisation, forecasts that the number of unemployed people in emerging and developing countries will increase by 4.8 million in the next two years.

Facebook Chief Operating Officer Sheryl Sandberg speaking at the World Economic Forum in Davos, urged policymakers to avoid impeding “progress” by adopting laws that block technological improvements

 

NYT

– Nielsen plans to announce that it is working with Facebook to include conversations about TV programs on the social network in its measurement system. Now called “Social Content Ratings”, the metric will also include TV-related chatter on Twitter. (http://nyti.ms/1OERSf0)

– A six-year trend of declining federal budget deficits will end this year, sooner than expected, the non-partisan Congressional Budget Office reported on Tuesday. (http://nyti.ms/1OERWLO)

– Practice Fusion, an electronic health records start-up, hired JPMorgan Chase & Co last year to explore an initial public offering in 2017. JPMorgan estimated that Practice Fusion could get a public market valuation of around $1.5 billion if it went public next year. (http://nyti.ms/1OESTDS)

– Microchip Technology Inc agreed to acquire a fellow chipmaker, the Atmel Corp, for about $3.6 billion, part of a wave of mergers and acquisitions within the semiconductor industry. (http://nyti.ms/1OESZLU)

– Netflix Inc announced it had topped expectations in adding a record 5.59 million total streaming members during the quarter, for a total 74.76 million across the globe. The success of the original series “Narcos” and “Marvel’s Jessica Jones” helped to fuel growth. Netflix said it expected to add 6.1 million members during the current quarter. (http://nyti.ms/1n8VaA5)

 

Canada

THE GLOBE AND MAIL

** A dispute over unpaid charges claimed by a supplier has left thousands of Canadian customers of the NetTalk Internet phone service without the ability to receive calls except from fellow NetTalk subscribers. NetTalk.com Inc is a Florida-based company that began selling a Voice over Internet Protocol (VoIP) telephone service in Canada in 2013. (http://bit.ly/1QdIuBG)

** Canada’s Defence Minister says the country’s exclusion from a key U.S.-led meeting this week on the campaign against Islamic State is no big deal and that Ottawa isn’t being cut out of key decision-making after the Trudeau Liberals announced plans to pull Canadian jets from the fight. (http://bit.ly/1ZACwxf)

** Quebec is facing the first signs of revolt over its planned long-gun registry, an unexpected breach in a province regarded as the staunchest defender of gun-control measures in Canada. Some provincial Members of the National Assembly have started expressing reservations about the registry, and an anti-registry petition has gathered more than 20,300 names online. (http://bit.ly/1RSGNgV)

** The country’s largest newspaper chain, Postmedia Network Canada Corp, is merging once-competing newsrooms and cutting about 90 staff as it tries to cope with declining revenue and a heavy debt load. (http://bit.ly/1Zzi8wt)

NATIONAL POST

** Canada has lost credibility as an investment destination because of its inability to build export infrastructure, a recently retired senior executive at China’s CNOOC Ltd , one of the country’s top three oil and gas companies, said on Tuesday. (http://bit.ly/1JXOwXM)

** Canadian crude oil exports to the United States reached its highest level ever of 3.4 million barrels per day in the first week of January, according to preliminary data from the U.S. Energy Information Administration. (http://bit.ly/1OvWaaU)

** Despite recent market volatility and exposure to low oil and commodity prices, Bank of Nova Scotia has set double-digit growth targets in four Pacific Alliance countries: Mexico, Chile, Colombia, and Peru. (http://bit.ly/1NjRrVB)

 

Britain

The Times

Sheffield Forgemasters workers steel themselves for one-in-seven job cuts

Sheffield Forgemasters, Britain’s premier specialist steel castings business, is set to cut about one in seven of its workforce. It is understood that Forgemasters, which makes specialist heavy duty steel fittings for the energy industry, will announce 100 redundancies among its 700 workers today. (http://thetim.es/1PfjFID)

VW boss faces criminal charges in South Korea

South Korea plans to file criminal charges against the head of Volkswagen AG in the country after judging that the carmaker’s recall plan to fix emissions-cheating diesel cars was unacceptable. (http://thetim.es/1Pfk3qv)

Top KPMG partner quits after tax cheat charges

One of KPMG’s top UK advisers has quit the accountancy group after being charged with offences relating to a film finance scheme that is alleged to have enabled its wealthy backers to avoid millions of pounds in tax. (http://thetim.es/1lsSuMG)

The Guardian

Renault recalls more than 15,000 diesel cars after emissions tests

Renault SA has recalled more than 15,000 diesel cars after an admission that its emissions filtering system does not work in all temperatures. The French carmaker denied any wrongdoing and said there was no “defeat device” of the kind Volkswagen used to cheat emissions tests, but acknowledged there was a difference between its test results and actual pollution. (http://bit.ly/1JWiwU8)

Unilever chief anticipates year of crises as stock markets falter

The chief executive of Unilever Plc, which makes Persil, PG Tips and Dove soap, has warned that the world could lurch from crisis to crisis this year as stock markets slump and Britain debates whether to leave the EU. (http://bit.ly/1T23qyi)

The Telegraph

Cairn Energy to challenge $1.6 bln India tax claim

Cairn Energy Plc has taken the first formal steps in a $1.6 bln tax dispute with the Indian government over its former Indian business unit. The retrospective tax claim was made by the Indian government last year. It demands that the UK-based oil explorer pay $1.6 bln plus interest and penalties arising from unpaid tax owed by Cairn’s India operations in 2007. (http://bit.ly/1UadWlt)

BT Sport founder Howard Watson to oversee merger of telecom giant’s tech with EE

Howard Watson has been named as BT Group Plc’s new head of technology when the current boss moves to the firm’s Openreach broadband infrastructure arm. Watson’s first major task will be integrating BT’s network with mobile firm EE, which the telecommunications giant bought for 12.5 mln pounds in a deal given official approval last week. (http://bit.ly/1JgA8df)

Sky News

Citymapper Charts Path To Unicorn Status

An app which helps users navigate their way around cities from London to Tokyo is finalising a fundraising that will plot a route to becoming one of the UK’s most valuable technology start-ups. Citymapper is close to a deal to secure tens of millions of pounds from existing and new investors. (http://bit.ly/1T2xAl0)

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