• It may be disappointing, but the “Red Dead Redemption 2” delay is nothing unusual in the video game industry, especially for Take-Two (TTWO)’s Rockstar Games:

• The new partnership between Alphabet Inc (GOOG) (GOOGL)’s Waymo autonomous vehicle technology unit and ride-hailing company Lyft may have given birth to a legitimate Tesla Inc (TSLA) competitor:

• Following Rep. Ro Khanna (D–CA)’s letter to the Department of Defense dated March 17, urging additional scrutiny on TransDigm Group Incorporated (TDG)’s contracting process, Height Securities said Congressional support for review may be growing:
• The poor, the elderly, the disabled, college students and environmental protections all stand to take a big hit if Congress approves President Donald Trump’s $4.1 trillion budget for fiscal year 2018. Defense contractors, corporations in general and the wealthiest Americans all stand to gain: Link

• Steel stocks were up big on Tuesday ahead of the Department of Commerce hearing on the Section 232 probe. The DoC is set to come out with more details regarding the impact steel imports has on U.S. national security: Link

THE WALL STREET JOURNAL

• President Donald Trump faced swift resistance from Democrats and a range of Republicans on Capitol Hill on Tuesday after offering a 10-year plan to balance the federal budget that depends heavily on cuts to government safety-net programs and expectations of a big gain in economic growth: Link
• Anthony Levandowski, the former Google (GOOG) (GOOGL) engineer at the center of a battle between the tech giant and Uber Technologies Inc., was never a typical employee. And for years, Google was fine with that: Link
• Moody’s Investors Service cut China’s sovereign credit rating for the first time in nearly three decades, citing expectations that the country’s financial strength will deteriorate in the coming years as debt keeps rising and the economy slows: Link
• Saudi Arabia is pushing the OPEC oil cartel and other big producers gathered here this week to extend crude production cuts for another nine months. The reason: the timing of the blockbuster IPO of Saudi Arabian Oil Co., people familiar with the matter said: Link

REUTERS

• The Financial Stability Oversight Council (FSOC), which brings together all U.S. financial watchdogs, used to be the scourge of Wall Street but under Treasury Secretary Steven Mnuchin it can serve to ease its regulatory burdens: Link

• General Electric (GE) signed a one billion riyal ($267 million) joint venture agreement on Wednesday with Saudi Arabia’s state-backed Dussur industrial development company to manufacture gas turbines in the eastern city of Dammam:Link

• Uber Technologies Inc said on Tuesday it underpaid its New York City drivers for the past two-and-a-half years, an error that could cost the ride-hailing company tens of millions of dollars: Link

  BLOOMBERG

• With a flagship treatment that helps fewer than 11,000 people, how isAlexion (ALXN) making so much money?: Link
• Morgan Stanley (MS) said it will cut back on using recruitment bonuses to poach established financial advisers as a new rule throws the industry’s traditional hiring practices into doubt: Link
• SoftBank Group Corp. has quietly amassed a $4 billion stake in Nvidia Corp. (NVDA) making it the fourth-largest shareholder in the graphics chipmaker, according to people familiar with the situation: Link
• AutoZone Inc. (AZO) reported profit and sales that missed analyst estimates as the seller of car replacement parts joined a chorus of retailers saying U.S. tax refund delays squelched demand early this year: Link

NY POST

• Target (TGT) has agreed to pay $18.5 million to settle a multi-state investigation into its colossal data breach in 2013 that affected 70 million shoppers, authorities announced Tuesday: Link