2015-09-22

Pressure builds on Volkswagen CEO as emissions-cheating probe
spreads (
Reuters)
Volkswagen Emissions Scandal Relates to 11 Million Cars (
WSJ)
Volkswagen Emissions Investigations Should Widen to Entire Auto
Industry, Officials Say (
WSJ)
Germany's Bosch makes VW's U.S. diesel components (
Reuters)
Volkswagen scandal will have personnel consequences - state
economy minister (
Reuters)
Glencore Falls to Record as Mining Shares Lead Stock Losses (
BBG)
Despite Slump, China’s Xi Jinping Pledges Economic Reforms (
WSJ)
Hacking Allegations Threaten to Overshadow Xi-Obama Summit (
BBG)
Five Things on the Agenda When China's Xi Goes to Washington (
BBG)
China SOE default warning highlights urgency of reform (
FT)
Jeb Bush to Propose Rollback of Regulations (
WSJ)
Islamic State Threatens Cyber-Attack Against U.K., SITE Says (
BBG)
Facebook’s Restrictions on User Data Cast a Long Shadow (
WSJ)
American Muslims fear a new wave of Islamophobia (
Reuters)
Asian Currencies Slide After Fed Officials Signal Rate Increase
Possible in 2015 (
WSJ)
'Putin's banker' Pugachev files 7.7 billion pounds claim
against Russia (
Reuters)
India turns to Israel for armed drones as Pakistan, China build
fleets (
Reuters)
Former peanut company CEO sentenced to 28 years for salmonella
outbreak (
Reuters)

Overnight Media Digest

WSJ

- In his first interview with foreign media since Chinese stocks
skidded this summer, President Xi Jinping defended his government's
economic stewardship and said slowing growth and market
fluctuations won't deter needed reforms. (

http://on.wsj.com/1itYDH6)

- Pope Francis' six-day visit to the United States that begins
on Tuesday ushers in a week of unprecedented logistical challenges
for delivery companies, railroads, the U.S. Postal Service and many
shippers as cities ramp up their security and close down roadways.
(

http://on.wsj.com/1gIC9kl)

- A year after the Treasury Department tightened its rules, U.S.
companies continue to pursue tax-driven "inversion" deals or
accomplish similar benefits by being taken over by a foreign
company. (

http://on.wsj.com/1iK8Qjn)

- Apple Inc is accelerating efforts to build an electric car,
designating it internally as a "committed project" and setting a
target ship date for 2019.(

http://on.wsj.com/1NPb7Xr)

- Rules that Facebook Inc imposed in May restricting outsiders'
access to its user data are having ripple effects in academia,
business and presidential politics. (

http://on.wsj.com/1V6QHI8)

- Differences between the United States and China over
cyberattacks and human rights won't be "papered over" during a
meeting this week between President Barack Obama and Chinese
President Xi Jinping, though it's unclear whether the
administration will be able to strike a new agreement on either
issue. (

http://on.wsj.com/1FYr8lV)

- The Securities and Exchange Commission will step up Tuesday
its campaign to cut risk in the $60 trillion asset-management
industry, amid calls by other regulators for tighter monitoring. (

http://on.wsj.com/1Fcq42X)

FT

Germany's Berenberg Capital Markets is planning a big push in
the UK and U.S. as part of a global expansion drive at its parent,
Berenberg bank.

Businesses in the UK have been urged by the government to
protect themselves from a growing cyber threat, with Ed Vaizey,
minister for the digital economy, promising extra funds of 500,000
pounds ($775,300.00) to help universities and colleges develop
cyber security skills.

Volkswagen shares plunged by nearly 20 percent on Monday after
the German carmaker admitted it had rigged emissions tests of
diesel-powered vehicles in the United States, and U.S. authorities
said they would widen the probe to other automakers.

NYT

- The embattled prime minister of Malaysia, facing mounting
political turmoil and a parade of inquiries at home and abroad into
a sovereign wealth fund that he oversees, is now coming under the
scrutiny of American investigators as well. (
http://nyti.ms/1FZtTTP)

- Volkswagen AG executives told environmental regulators
repeatedly that discrepancies on pollution tests were not a
deliberate attempt to deceive Washington officials. But this month,
they made a startling admission: The diesel vehicles the company
sold in the United States used software meant to cheat on the
tests. Volkswagen made the admission only when the Environmental
Protection Agency took the extraordinary action of threatening to
withhold approval for its 2016 Volkswagen and Audi diesel models. (

http://nyti.ms/1MFQHQl)

- The chill on the Chinese economy has eroded some of the sheen
attached to President Xi Jinping, and some analysts say he may want
to project an especially strong image when holding talks in the
United States. (
http://nyti.ms/1V6Vhf0)

- Brian Williams is expected to return to the air on MSNBC on
Tuesday in his new role as a breaking news anchor, four months
after he was suspended from his position as anchor of "Nightly
News." NBC News executives hope he can help MSNBC reverse its
fortunes. (
http://nyti.ms/1NIumQO)

- China's coal consumption weakened last year and through the
first half of this year, largely because of a slowing economy, but
this could mean brighter prospects for worldwide efforts to slow
global warming. (
http://nyti.ms/1L26IQp)

- As Greece grapples with a continued downturn, bartering is
gaining traction at the margins of the economy, part of a
collection of worrisome signs for Prime

Canada

THE GLOBE AND MAIL

** Volkswagen Canada Inc has halted sales of diesel car models
amid a scandal over falsified U.S. emissions tests that risks
tarnishing its image in North America. Volkswagen's troubles began
last week when the U.S. Environmental Protection Agency said
software for Volkswagen and Audi cars equipped with diesel engines
deceived regulators measuring toxic emissions. (
http://bit.ly/1Kx9xCw)

** AltaGas Ltd is buying three gas-fired power plants in
California for $642 million, expanding its presence in the state
and allowing it to increase its dividend. Calgary-based AltaGas
said it was issuing C$300 million ($226.4 million) worth of shares
to help pay for the acquisition of the generating stations from
Highstar Capital IV LP. (
http://bit.ly/1Kxa9b9)

** One of Canada's largest owners of apartment buildings is
beefing up its portfolio, a deal that adds more signs of life to a
commercial real estate sector that had largely gone quiet. Canadian
Apartment Properties REIT is acquiring a portfolio of apartment
buildings in Montreal for $490 million. The real estate investment
trust also launched a $250 million bought deal to help pay for the
purchase. (
http://bit.ly/1KxalXV)

NATIONAL POST

** The Caisse de depot is partnering with Mexican institutional
investors as the Quebec pension fund manager pursues its goal of
doubling infrastructure investments by 2018. The Caisse says it
will invest $1.43 billion on infrastructure projects in Mexico
after teaming up with a newly created consortium that manages 62
percent of that country's pension fund assets. (
http://bit.ly/1KxbL4O)

** Delays in approving and building liquefied natural gas export
projects will cost British Columbia $20 billion a year in lost
revenue from 2020 onwards, according to a study by the Fraser
Institute. "As a result, British Columbians will invariably forgo
higher levels of job growth and billions of dollars in tax revenues
which could pay for things like health care or public education,"
said Ken Green, co-author of the report and senior director of
natural resource studies at the Fraser Institute.

Britain

The Times

Luxury retailer, French Connection Group Plc delivered a nasty
surprise by announcing a first-half, pre-tax loss of 7.9 million
pounds. (
http://thetim.es/1FbS7PW)

The Guardian

The emissions-fixing scandal that has engulfed Volkswagen AG in
the U.S. could extend to other companies and countries, one of the
officials involved in uncovering the alleged behaviour has told the
Guardian. (
http://bit.ly/1FbSpq1)

Rich western countries and the world's leading developing
nations are spending up to $200 billion a year subsidising fossil
fuels, according to a report from the Organisation for Economic
Cooperation and Development. (
http://bit.ly/1FbSAlb)

The Telegraph

Britain's "robust" recovery has not caused price pressures to
build in the economy, according to the Bank of England's deputy
governor, Jon Cunlife, who suggested that disinflationary forces
from abroad meant there was no immediate need to raise interest
rates. (
http://bit.ly/1FbSM3X)

China's central bank, People's Bank of China, will start to
issue short-term debt in London, the Chancellor of the Exchequer,
George Osborne, announced on Monday at the end of high-level talks
with Chinese leaders. (
http://bit.ly/1FbTbTX)

Sky News

Tesco will decide within days whether to abandon the sale of its
data arm after financing concerns led all but one of the bidders to
withdraw from the sale process. (
http://bit.ly/1FbULFr)

Channel 4 is in talks with the media regulator and Government
ministers about extending the tenure of its chairman, Terence
Burns, amid heightened speculation about the state-owned
broadcaster's future. (
http://bit.ly/1FbUNNu)

The Independent

Kickstarter has voluntarily entered into a contract to promise
it will consider the social impact of its decisions. The
crowdfunding website is now a Public Benefit Corporation and has
changed its name from Kickstarter Inc to Kickstarter PBC to reflect
this. (
http://ind.pn/1FbTAWw)

The average house prices in the UK could hit 300,000 pounds in
the next three months, according to the property agent Rightmove,
after cheap borrowing and poor supply has fuelled another record
breaking month for property prices. (
http://ind.pn/1FbTIp0)





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