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The Markets
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Papers: Cruz to victory

It was the day of the underdogs in the US primaries.

It was a day for the underdogs in the US presidential candidate primaries, with Ted Cruz besting Donald Trump and Bernie Sanders beating Hillary Clinton.

The New York Times said Cruz's trouncing of Trump has breathed new life into his effort to “halt Mr Trump's divisive presidential candidacy” and has dealt a blow to Trump's hopes of wrapping up the nomination before the party's summer convention.

Trump’s loss was his most significant setback since Cruz narrowly defeated him in Iowa, the campaign’s first nominating contest, the New York Times reports.

After largely dominating the Republican field from the moment he announced his candidacy last June, Trump now faces a fresh challenge: bouncing back in the face of searing attack ads by Republicans bent on stopping him, questions about his demeanor and campaign organization, and a single ascendant challenger in Cruz.

The Washington Post, meanwhile, said Sanders's win keeps alive his “improbable bid for the nomination”.

“Now, despite Clinton’s still-overwhelming lead in delegates, Sanders can claim the momentum of winning in six of the past seven states holding nominating contests across the country,” the Post said, noting that crunch time will come in two weeks in New York, a state with a lot of delegates.

National daily USA Today harks back to a time when Sarah Palin was regarded as a serious candidate for the White House.

Palin is threatening to sue female rapper Azealia Banks after the latter launched an attack on the former politician on Twitter, apparently in the mistaken belief that views ascribed to Palin by a satirical web site were genuine.

Banks later apologized to Palin in an open letter published via the Tumblr web site on Tuesday.

On the spot tests for drivers suspected of driving while high on marijuana could be introduced in California, the Los Angeles Times writes.

With medical marijuana in widespread use and a ballot measure planned to legalize recreational pot in California, state officials Tuesday proposed using new technology to catch the increasing number of motorists who are driving while high.

The legislation proposes that law enforcement officers be given swab test kits to perform tests on drivers, though given the tendency of pot smokers to “get the munchies”, it would be a brave policeman or policewoman who put his fingers in a dope-smoker's mouth.

The new tax inversion rules have prompted Pfizer Inc (NYSE:PET) to walk away from the proposed acquisiton of Allergan.

The Wall Street journal said the Obama administration took aim at the deal that would have moved the biggest US drug company to Ireland to lower its taxes.

“The decision to walk away is the latest setback in Pfizer’s long-running efforts to overcome what chief executive Ian Read has said was the company’s competitive disadvantage with foreign rivals that faced significantly lower tax bills,” the WSJ reported.

The collapse of the deal follows a failed attempt by Pfizer in 2014 to buy Anglo-Swedish drugs giant AstraZeneca PLC (LON:AZN).

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