10 things you need to know in markets today

Good morning! Here’s what you need to know.

1. Hundreds of hooded protesters held up an annual May Day demonstration in eastern Paris. French police warned of possible clashes with far-left anarchist groups, known as Black Blocs, after a call on social media for a “Revolutionary Day.”

2. US Commerce Secretary Wilbur Ross said the one-month extension of the exemption from new steel and aluminium tariffs granted to the European Union was the result of promising discussions. “We’re having some potentially fruitful discussions about an overall reduction in trade tensions,” he said in a CNBC interview.

3. British parliamentarians said they were prepared to issue a formal summons for Facebook Chief Executive Mark Zuckerberg. The social network has faced questions on both sides of the Atlantic over how millions of users’ details got into the hands of political consultancy Cambridge Analytica, and over its wider handling of personal data.

4. Britain will be able to impose sanctions on people who commit gross human rights violations under a so-called “Magnitsky amendment.” It passed without a vote as it was backed both by the ruling Conservatives and the main opposition Labour Party.

5. Presidential candidate Henri Falcon pledged to raise Venezuela’s minimum wage to $US75 per month in a newly-dollarized economy should he beat the ruling socialists in a May 20 vote.“This is the worst crisis any Latin American country has suffered in the last 100 years,” said Falcon.

6. Glencore won a temporary injunction against Israeli billionaire Dan Gertler over alleged unpaid royalties he said he is owed by the company.Last week, Glencore said its mining subsidiaries in the Democratic Republic of Congo were served freezing orders for alleged unpaid royalties of nearly $US3 billion by a company affiliated with Gertler.

7. The incoming boss of BASF supported a strategy of keeping divergent businesses folded into one company, at a time when its major rivals such as DowDuPont are breaking themselves up.The German group has grown from a 19th century indigo dye workshop to a diversified juggernaut worth $US95 billion.

8. Uber’s licence in the southern English coastal city of Brighton will not be renewed. The council said the taxi app was not “fit and proper” to hold a licence, citing concerns over a data breach and the use of drivers from outside the area.

9. The US International Trade Commission said it will investigate Nintendo gaming consoles after California-based Gamevice elleged that their importation infringed on its patents.The ITC said in a statement its probe involved “certain portable gaming console systems with attachable handheld controllers and components.”

10. Wireless carrier T-Mobile US, which is buying smaller rival Sprint Corp, reported an 8.8% rise in first-quarter revenue. It added more postpaid phone subscribers with competitively priced plans.

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