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Frontrunning: November 16

Tyler Durden's picture




 
  • Belgian Police 'Arrest' Public Enemy No.1 (Sky News)
  • France Widens Crackdown at Home as Bombs Rain on Islamic State (BBG)
  • Putin Goes From G-20 Pariah to Player at Obama Turkey Talk (BBG)
  • Paris Attacks: 150 Raids as France Goes to 'War With Terrorism' (NBC)
  • 'Rocket Launcher Found' In French Police Raids (Sky)
  • Geopolitical worries lift oil after Paris attacks, but glut weighs (Reuters)
  • Japan's economy falls back into recession again (BBC)
  • 'Abenomics' architect predicts no more Bank of Japan easing this year (Reuters)
  • Merkel Says Saudis Will Help Push Political Process in Syria (BBG) - by funding even more ISIS terrorists?
  • Brussels police surround houses seeking Paris suspects (Reuters)
  • Trafigura Reveals $4.3 Billion in Oil Payments to Governments (BBG)
  • Partying on a Friday, many Paris victims were bright young things (Reuters)
  • Marriott to buy Starwood Hotels in $12.2 billion deal (Reuters)
  • Norway's Wealth Problem: How Do You QE Without Government Debt? (BBG)
  • Lawmakers, Candidates Target High Drug Prices (WSJ)
  • Oil Theft Soars as Downturn Casts U.S. Roughnecks Out of Work (BBG)

 

Overnight Media Digest

WSJ

- Sumitomo Mitsui Financial Group's leasing arm and Shinsei Bank will both continue discussions with General Electric Co to buy its Japanese commercial-lending business, after submitting binding bids this month, according to a person familiar with the situation. The bids valued the GE commercial-lending and leasing operation at nearly $5 billion, the person said. (http://on.wsj.com/1kYjvrf)

- Deutsche Bank AG named James McMurdo head of its corporate and investment bank for Asia Pacific, the bank said on Thursday. McMurdo is currently chief executive of Australia and New Zealand for Deutsche, and will remain chief executive of Australia "until further notice," according to an internal memo from the German lender viewed by The Wall Street Journal. (http://on.wsj.com/1kYjDae)

- France launched airstrikes against Islamic State in Syria, responding to terror attacks on its capital, as investigators pieced together a chilling picture of Europe's security: a continent at a loss to foil, let alone detect, such a coordinated plot. (http://on.wsj.com/1kYjKTe)

- Lawmakers and the Obama administration are ratcheting up efforts to target pharmaceutical companies over high-priced drugs, a sign that legislators are trying to bridge partisan differences to tackle a key driver of rising health care costs. The Health and Human Services Department is considering new steps to protect consumers.(http://on.wsj.com/1kYk7xb)

- Japan's economy contracted 0.8 percent on an annualized basis in the third quarter, marking the latest setback for Prime Minister Shinzo Abe and his "Abenomics" policies. Consumer spending remained soft and businesses cut back on investment during the quarter as stock-market turmoil and a slowdown in China spread jitters across the globe. (http://on.wsj.com/1kYl2xs)

 

FT

Amazon.com Inc will launch an online platform this week for British start-ups to sell and market their products. The retailer said Launchpad, which it started in the U.S. in July, would collaborate with venture capital groups including Andreessen Horowitz and crowdfunding platforms such as Crowdcube.

Portugal's Novo Banco has been ordered by the European Central Bank (ECB) to fill a 1.4 billion euro ($1.50 billion) capital shortfall that the agency found under an adverse scenario that simulates an economic recession. However, the ECB said the lender met capital requirements under its base scenario.

Allergan Plc Chief Executive Officer Brenton Saunders has cautioned that any attempt by the Obama administration to block the takeover deal by Pfizer Inc of the Dublin-based company would be a short sighted intervention. Pfizer is in negotiations with Allergan about buying the group in what would be the biggest ever "tax inversion", by moving its domicile to Ireland.

 

NYT

- An American Action Network-sponsored ad during the Republican presidential debate last Tuesday attacks the Consumer Financial Protection Bureau, a federal agency created with Elizabeth Warren's strong backing, for its efforts to restrict arbitration in corporate America. (http://nyti.ms/1NyRhud)

- The Weinstein Company on Sunday confirmed it will lay off at least 50 of its more than 200 employees, mostly in its film division. (http://nyti.ms/1NyRNZ8)

- The nation's second-largest for-profit college operator, Education Management Corporation, is expected to agree to pay nearly $90 million to settle a case accusing it of compensating employees based on how many students they enrolled, encouraging hyper aggressive boiler room tactics to increase revenue. (http://nyti.ms/1QFX4DM)

- The Japanese economy deteriorated more severely than expected in the third quarter, government data released on Monday showed, extending a downturn into a second consecutive three-month period and putting the country in technical recession. (http://nyti.ms/1QFX5Y6)

 

Canada

THE GLOBE AND MAIL

** Despite the devastating terrorist attack in France, the Trudeau government says it will not waver from its resolve to withdraw from the air war against Islamic State militants, as well as to fast-track the arrival of 25,000 Middle Eastern refugees in Canada before the end of the year. (http://bit.ly/1lr7fzZ)

** Manulife Financial Corp is clamping down on coverage of some prescription drugs coming to market that don't offer value for their exorbitant price tags. The insurer has begun evaluating new high-cost and high-volume medications, and for the first time will exclude drugs from coverage if they don't meet clinical effectiveness standards in relation to their expense. (http://bit.ly/1MhqG7g)

** AutoCanada Inc executive chairman Pat Priestner will buy a Honda Canada Inc dealership with financial backing from the publicly traded dealership group, but the auto maker says it will still ban ownership of its outlets by publicly listed companies. (http://bit.ly/1lr7RFP)

NATIONAL POST

** As the bells of Notre Dame cathedral echoed over central Paris Sunday in memory of the victims of Friday night's terror attacks, French jets were already fuelling up for a strike on the ISIL stronghold of Raqqa. (http://bit.ly/1j3frEQ)

** As Canadian police and security agencies searched for any possible connections to the Paris terrorist attacks, analysts questioned whether the audio recording claiming responsibility for the killings was made by a Canadian. (http://bit.ly/1Obrc7t)

 

China

CHINA SECURITIES JOURNAL

- The outstanding foreign exchange funds for Chinese financial institutions increased by 12.9 billion yuan ($2.02 billion) in October, reversing four consecutive months of decline, according to data released by China's central bank on Nov. 15.

21st CENTURY BUSINESS HERALD

- The price of copper futures dropped to $4787.5 per ton on Nov. 13, hitting a six-year low. Copper's net prosperity index dropped 0.87 points to 22.59 last month, according to data from the index.

- China's express delivery volume will hit 50 billion by 2020, equal to the present global express delivery volume, and the annual business revenue will reach 800 billion yuan ($125.52 billion), said Ma Junsheng, director of State Post Bureau of The People's Republic of China.

CHINA DAILY

- Local governments should put people's health first and adopt measures to cut pollution, said an editorial in the official paper. Pledges to alleviate the problem should not just be lip service and efforts should not be relaxed even as the economy slows, it said.

SECURITIES TIMES

- China's National Social Security Fund plans to increasingly diversify its investments to include non-standard asset-based alternatives such as stocks, bonds, hedge funds, private equity funds and works of art, said Wang Zhongmin, vice chairman of the NSSF council.

 

Britain

The Times

Britain's largest privately owned building company Laing O'Rourke will pitch this week to deliver the most complex and expensive part of the HS2 high-speed line, promising to ship dozens of bridges, pre-cast 90 miles away in Nottinghamshire, at a fraction of conventional construction costs. (http://thetim.es/1SSxf2t)

Manufacturers have warned the government that Britain could be left in the "industrial slow lane" if George Osborne cuts support for innovation and high-tech research in his autumn statement. (http://thetim.es/1SSxiLH)

The Guardian

The deadline to dispense further rescue loans to debt-stricken Greece was extended by eurozone countries once again on Sunday amid continuing deadlock between Athens and its creditors. (http://bit.ly/1SSxk6i)

Wealthy homebuyers are choosing urban living over a rural idyll, according to analysis of prime property sales by Knight Frank. (http://bit.ly/1SSxJ8M)

The Telegraph

UK retailers could incur costs of 180 million pounds from consumers returning goods bought during the 24-hour sales period of Black Friday this year. (http://bit.ly/1SSxvOP)

Michael Dell, CEO of American PC maker Dell, has condemned the UK's Investigatory Powers Bill - better known as "the snoopers' charter" - claiming that forcing technology companies to provide access to their customers' unencrypted data is a "horrible idea". (http://bit.ly/1SSxxpY)

Sky News

George Osborne's corporation tax raid on lenders will force the UK's second-largest building society to curb investment in order to protect the interest rates enjoyed by millions of its members, its chief executive will warn on Monday. (http://bit.ly/1SSxCKe)

Banking regulators will face renewed pressure over their handling of an inquiry into the collapse of HBOS next week. (http://bit.ly/1SSxMkV)

The Independent

The supply of excess oil in the world has reached a record high, it has been reported. More than three billion barrels of spare oil are floating around on the world market, according to the International Energy Agency. (http://ind.pn/1SSxRFk)

 

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Mon, 11/16/2015 - 08:35 | 6799028 buzzsaw99
buzzsaw99's picture

Belgian Police 'Arrest' Public Enemy No.1

no, they didn't.

Mon, 11/16/2015 - 11:07 | 6799573 3rdWorldTrillionaire
3rdWorldTrillionaire's picture

It's-a-me, Mario!

Mon, 11/16/2015 - 08:56 | 6799071 THE DORK OF CORK
THE DORK OF CORK's picture

The energy data published by the Iea so far this year has some incredible information.

It clearly points to jet Kerosene consumption or lack of it as the main driver or destroyer of electrical consumption

So people moving around on airplanes is overpowering the remaining static people of former nations.

This points to the absurd and pointless scale of the banks operations .



Peoe 

Mon, 11/16/2015 - 09:02 | 6799090 THE DORK OF CORK
THE DORK OF CORK's picture

European consumption of oil is exploding but it is not used for production / consumption.

The surplus is being flared again on distribution ( the race track Economy.

It's very much a repeat of the 80s disaster 

 

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