Global Stocks Slip Lower (
WSJ)
Dollar sits pretty, bond yields rise as Fed bets firm (
Reuters)
Takeover Loans Have Few Takers on Wall Street (
WSJ)
Chinese Buyers Seek Dollar Assets as Promise of Yuan Gains
Fades (
BBG)
Banking Giants Learn Cost of Preventing Another Lehman Moment (
BBG)
Eurozone Finance Ministers Won’t Release $2.15 billion Loan to
Greece (
WSJ)
Greece plans a return to capital markets (
FT)
China Slowdown Hits Earnings in Japan (
WSJ)
BHP CEO Flies to Brazil as Prosecutors Seek License Halt (
BBG)
Fed Proves Irrelevant in $2.6 Trillion Slice of U.S. Debt
Market (
BBG)
Saudi Arabia will not stop pumping to boost oil prices (
FT)
Saudi Vice Oil Minister Sees Price Surge After Cutbacks (
BBG)
Credit Suisse May Cut Bonuses by 60% After Writedown, SamS Says
(
BBG)
Black gold under the Golan (
Economist)
Match, Owner of Dating Sites, Seeks $403.7 Million in IPO (
BBG)
Republican candidate Carson pushes back on veracity questions (
Reuters)
Weyerhaeuser to Buy Timber Rival Plum Creek for $8.4 Billion (
BBG)
Russian soldiers geolocated by photos in multiple Syria
locations, bloggers say (
Reuters)
With Long Handshake, China and Taiwan Affirm Better Ties (
BBG)
Overnight Media Digest
WSJ
- U.S. military officials have proposed sending more forces into
Europe on a rotating basis and are stepping up training exercises
to counter potential Russian interference with troop transfers in
the event of a crisis with Moscow. (
http://on.wsj.com/1Hp4fy0)
- The deadly dam break at one of BHP Billiton's joint-owned
mines in Brazil comes as steady improvements in major mining
companies' records on worker fatalities appear to have stalled. (
http://on.wsj.com/1NYMsx5)
- U.S. prosecutors in at least four states are mounting
investigations into what they say is widespread fraud by
compounding pharmacies in claims to the health insurance program
that covers 9.5 million U.S. military families. (
http://on.wsj.com/1kjL5j3)
- Pfizer Inc's accounting methods raise its reported tax rate,
without increasing the actual taxes the company pays. More than
two-thirds of the company's 2014 tax expense - $2.2 billion out of
$3.1 billion - was money the company will actually pay only if and
when it chooses to repatriate foreign profits. (
http://on.wsj.com/20FoZrC)
- Pinterest plans to introduce Monday a new technology that
would allow users of the photo-sharing website to search it for
images of objects similar to ones they have identified with a
highlighting tool. (
http://on.wsj.com/1L55fSG)
- Volkswagen AG said it would announce a new sales initiative in
the United States this week, in another small step to win back the
trust of customers and dealers in the wake of its
emissions-cheating scandal. (
http://on.wsj.com/1MGiVoy)
FT
UniCredit, Italy's biggest bank by assets, is planning to cut
around 10,000 jobs as it seeks to slash costs and boost profits,
say people familiar with the matter.
Criminal prosecutor Deltan Martinazzo Dallagnol has warned
foreign companies involved in Brazil's Petrobras corruption case to
come forward, saying companies that came out in the open would be
looked upon favourably.
Snapchat registers more than 6 billion views per day on videos
posted on its app, according to people familiar with the matter.
The figure has tripled since May this year. This isn't far behind
Facebook's 8 billion views per day, which the company announced
last week.
German carmaker Volkswagen AG's board will meet on Monday
morning to discuss the growing emissions scandal, even as the
company's labour union leaders prepare to fight to protect workers
from expected job cuts.
NYT
- Volkswagen AG's recent disclosure that it reported false fuel
economy and carbon dioxide readings to European regulators was
prompted by an internal whistle-blower, the company said on Sunday.
Efforts to discover who was responsible for misconduct at the
German carmaker have been hampered by a culture of silence and a
fear of delivering bad news to superiors. (
http://nyti.ms/1NDLB6C)
- Egyptian military intelligence on Sunday detained an
investigative journalist who is also the founder of Egypt's premier
human rights group on charges of publishing false news, raising
alarms about attempts to suppress domestic dissent as the
government grapples with questions about the crash of a Russian
passenger jet. (
http://nyti.ms/1GS9iXJ)
- Even as they emerge from the post-financial-crisis haze,
bankers are seeing few signs that their institutions and their
bonuses will stage a full recovery anytime soon. Bonuses in the
financial industry this year are expected to fall 5 to 10 percent,
according to an annual report being released Monday by the
compensation consulting firm Johnson Associates. It is the first
year since 2011 that compensation for the industry as a whole is
expected to drop. (
http://nyti.ms/1PjZdFu)
- Successful stations are venturing into online streaming, but
also playing to traditional strengths like thoughtfully curating
playlists and championing new artists. (
http://nyti.ms/1kjOTkd)
- David Harleston, an executive who serves as general counsel
for media company Al Jazeera America, has helped oversee lawsuits
against DirecTV and Al Gore. There are wrongful-termination cases
brought by former employees who accuse the news channel of
fostering a sexist and anti-Semitic environment. But according to
court officials, there are no records that indicate Harleston is
licensed to practice law in New York State, where Al Jazeera
America has its headquarters. He has also not been admitted in any
other jurisdiction, according to research by The New York Times. (
http://nyti.ms/1Mu5lZI)
Canada
THE GLOBE AND MAIL
** Barack Obama's rejection of the proposed Keystone XL pipeline
is prompting growing calls for Canada to take dramatic regulatory
steps, including implementing a carbon tax, to demonstrate it is
serious about reducing greenhouse gas emissions. The U.S. president
leaned heavily on climate change when explaining why his government
rejected TransCanada Corp's proposal, which would shuttle crude
from the oil sands to refineries on Texas' Gulf Coast. (
http://bit.ly/1XZbX5Y)
** Canada's Veterans Affairs Minister, Kent Hehr, calls it
"devastating and tragic" that 59 soldiers who served in Afghanistan
have since taken their lives, and he promises to transform the way
Ottawa deals with members of the Canadian Armed Forces who have
been in combat. (
http://bit.ly/1XZc41t)
** Former Conservative cabinet minister Kellie Leitch says she
is considering a run for the Conservative Party leadership, as the
unofficial race to replace Stephen Harper begins in the most
unlikely of places - Nova Scotia - where the Tories were wiped out
in last month's federal election. (
http://bit.ly/1MGE8hV)
NATIONAL POST
** Border officers have been warned that "disillusioned and
traumatized foreign fighters" who had been taking part in extremist
violence in Syria and Iraq may be trying to slip back into Canada,
declassified documents show. (
http://bit.ly/1OyXRXr)
** Research In Motion's Jim Balsillie warns that provisions
tucked into the Trans-Pacific Partnership could cost Canada
hundreds of billions of dollars - and eventually make signing it
the worst public policy decision in the country's history. After
poring over the treaty's final text, the businessman who helped
build Canadian company Research In Motion, now renamed BlackBerry
Ltd , into a $20-billion global player said the deal contains
"troubling" rules on intellectual property.(
http://bit.ly/1QoKOHs)
** Canada's prison watchdog wants the new Liberal government to
act on outstanding recommendations from his office, including a
call to create a deputy commissioner of aboriginal corrections. (
http://bit.ly/1NZ6A20)
Hong Kong
SOUTH CHINA MORNING POST
- Banks are slashing valuations for residential properties, in
yet another sign of an approaching bear market in the city's real
estate market. Investment bank Jefferies said banks have been
trimming valuations by 2 to 15 percent since the end of August.
Mortgage broker mReferral's analyst Sharmaine Lau said lenders are
increasingly setting property values below transaction prices. (
http://bit.ly/1M0Rh8p)
- Former China Aircraft Leasing Group chief executive Mike Poon,
who went off the radar in June, was sighted in town last week by
several people. Sources said Poon had been under detention on the
mainland for a graft probe into China Southern Airlines. Poon has
probably been freed after giving the authorities the information
they wanted, a source with knowledge of the investigation said. (
http://bit.ly/1Nld9cv)
- Global hotel chain Marriott International has unveiled an
aggressive expansion plan in China that includes entering more than
20 second- and third-tier cities in four years. Marriott already
has hotels in 26 Chinese cities while Craig Smith, the managing
director of Marriott Asia-Pacific, said he wants to make that
50-plus cities in three to four years. (
http://bit.ly/1MtAnkc)
THE STANDARD
- Frequent shadow visitors who join group tours to Hong Kong
will be red-flagged and reported to mainland authorities, the
Travel Industry Council Chairman Michael Wu said. If it is
discovered that people have joined group tours to Hong Kong three
times in two months, their names will be handed to the China
National Tourism Administration, he added. (
http://bit.ly/1PwEflp)
- Swire Properties has been looking at potential opportunities
in first-tier cities in China although its prime focus remains its
new projects, including a mixed-used development in Chengdu, says
Chief Executive Guy Bradley. The firm is interested only in
projects in prime locations of Tier-I cities that offer reasonable
returns, Bradley said. (
http://bit.ly/1QnNG7x)
HONG KONG ECONOMIC JOURNAL
- Retail outlets operator Theme International Holdings Ltd said
it would scale down its garment business in Taiwan amid competitive
environment in garment retail business and rising operating costs,
as well as the poor financial performance of its retailing
segment.
Britain
The Times
Sheffield Forgemasters, may be rescued by an arm of the Chinese
state after becoming the latest victim of the crisis in the
industry. But the prospect has caused deep concern at the Ministry
of Defence, Rolls-Royce and BAE Systems because of Forgemasters'
role in making key parts for Britain's Trident nuclear submarines.
(
http://thetim.es/1RHgqGX)
Jaguar Land Rover has launched a secret 4.5 billion pound ($6.78
billion) cost-cutting plan to offset rising emissions costs and the
slowdown in China. The project - known as Leap 4.5 - will
scrutinise almost every area of spending at Britain's biggest
manufacturer, raising fears of job cuts. (
http://thetim.es/1NkLxUT)
The Guardian
The Treasury and the Departments of Transport, Environment, and
Communities and Local Government are the first ministries to have
agreed deep spending cuts of 8 percent a year for the next four
years, George Osborne will announce on Monday. (
http://bit.ly/1RHgCG1)
Senior TalkTalk staff were warned as early as 2013 that
fraudsters were accessing customers' personal details - two years
before the company fell victim to an external cyber attack. (
http://bit.ly/1RHgCpw)
The Telegraph
Tata Steel has written to businesses in its supply chain telling
them it requires an immediate 10 percent price reduction on all
purchases, and plans to increase the cuts to 30 percent. (
http://bit.ly/1RHgPc8)
Greece is battling to secure the release of 2 billion euros
($2.15 billion) in bailout cash as one of the world's foremost tax
chiefs has warned the country cannot survive without rooting out
rampant tax evasion. (
http://bit.ly/1RHgN4i)
Sky News
Ministers will unveil a fresh trade promotion drive on Monday
backed by corporate giants including British Airways, HSBC and
Microsoft, even as scepticism grows over the credibility of a 1
trillion pounds ($1.51 trillion) Government export target. (
http://bit.ly/1RHgTIV)
Tech London Advocates, a private sector network with more than
2,000 members including the bosses of BT and TalkTalk, will publish
research showing that a British exit from the European Union would
damage the UK's appeal as a location for global company
headquarters and reduce its influence in regulatory matters. (
http://bit.ly/1RHgVAy)
The Independent
The CBI has warned the Chancellor not to slash the Business
Department's science and innovation budget in the crunch spending
review later this month. (
http://ind.pn/1RHgZjK)
Ministers have hinted that the transport giant Arriva could be
subjected to a Serious Fraud Office inquiry after it inflated
figures on an NHS contract. (
http://ind.pn/1RHgWVi)
