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Frontrunning: December 1
- Global Stocks Edge Higher on Expected ECB Stimulus (WSJ)
- Moment of truth as Puerto Rico faces crucial debt payment (Reuters)
- Obama urges Turkey to reduce tensions with Russia, stresses support (Reuters)
- Russian Media Takes Aim at Turkey (WSJ)
- Support Grows for U.S. Commando Raids to Fight Islamic State (BBG)
- Yuan Drops as SDR Approval Seen Prompting PBOC to Reduce Support (BBG)
- Bank of England to Ease Capital Pressure on U.K. Banks (WSJ)
- Companies Shy Away From Spending (WSJ)
- Oil Bulls Brace for Repeat of OPEC's Bearish Blow at Meeting (BBG)
- Einhorn's Hedge Fund Plunged 5.2% in November, Set for 2015 Loss (BBG)
- Chinese banks miss out on the party as Asian M&As pass $1 trillion mark (Reuters)
- Factories still struggling as U.S. rate hike looms (Reuters)
- Euro Area’s Modest Recovery Sets Scene for Draghi Stimulus (BBG)
- Nations most at risk of climate change urge lower warming cap (Reuters)
- European Retail Property Deals Surge (WSJ)
- Brazil GDP Falls More Than Analysts Expected as Demand Wilts (BBG)
- Greek debt relief talks to focus on net present value, central banker says (Reuters)
- China Commits $1.2 Billion to Zimbabwe Power Plant as Xi Visits (BBG)
- World headed toward 'suicide' if no climate agreement: pope (Reuters)
- Bank of England Sees Countercyclical Buffer Rising on Risk (BBG)
Overnight Media Digest
WSJ
- The average amount Americans spent on some key product categories declined on Thanksgiving and Black Friday, as mobile shopping drove smaller orders and aggressive discounts pushed down prices, according to First Data Corp. (http://on.wsj.com/1NF13AX)
- U.S. regulators cut annual requirements for how much ethanol must be mixed into the nation's fuel supply. But the reductions were smaller than originally proposed, softening the blow to ethanol companies and their Farm Belt supporters. (http://on.wsj.com/1NF14VD)
- Samsung Electronics Co said Tuesday that its mobile chief J K Shin and another co chief executive officer would step back from day-to-day operations, as the South Korean technology giant looks to new leadership to revive its once-booming smartphone business. (http://on.wsj.com/1NF19bT)
- Credit Suisse Group has tapped Johnson Chui as new head of equity capital markets for Asia Pacific as the Swiss bank shakes up its ranks in the region, according to a person familiar with the situation. (http://on.wsj.com/1MSu74z)
FT
British Prime Minister David Cameron is expected to launch military action in Syria within days after opposition Labour Party leader Jeremy Corbyn in effect guaranteed that the prime minister could secure a Commons majority for war.
A series of strikes by junior doctors has been called off at the last minute in return for the British government's agreement that no new contract would be imposed pending further talks.
Nicholas Marshall, who formerly headed the garden shop chain previously known as Wyevale, is eyeing a bid for Homebase, the home improvement arm of Home Retail Group.
The Supreme Court of Delaware has ordered Royal Bank of Canada to pay more than $75 million for giving tainted advice on a 2011 buyout deal, a decision that is likely to have far reaching consequences for Wall Street's dealmakers.
NYT
- Thanks to the legacy of military rule and a culture of breaking rules of all sorts, Argentina has become one of the best places on earth to find people who could show you how. "Cheating the system is part of the Argentine mentality," said Cesar Cerrudo, an Argentine security researcher. (http://nyti.ms/1StfAOe)
- The Chinese renminbi was anointed as one of the world's elite currencies on Monday, a milestone decision by the International Monetary Fund that underscores the country's rising financial and economic heft. (http://nyti.ms/1StfGWi)
- VTech, a Hong Kong-based maker of digital toys for children said it had been hacked, putting the personal information of five million people, including children, at risk. (http://nyti.ms/1StfUwn)
- As authorities around the globe grapple with the threat of terrorism, Governor Andrew Cuomo is preparing to impose new regulations on New York State banks to prevent illicit money from flowing through Wall Street and into the hands of militants and criminals. (http://nyti.ms/1StfW7u)
- One of the largest gatherings of world leaders in history began a multinational effort Monday toward forging what many called the planet's last, best hope to stave off the worst consequences of climate change. (http://nyti.ms/1Stg1bu)
Canada
THE GLOBE AND MAIL
** Mayors and provincial officials are putting pressure on the federal government to ensure that Syrian refugees initially settle all over the country instead of congregating in Canada's biggest cities. (http://bit.ly/1Qa8oY1)
** Alberta's New Democratic Party government has launched an external review into the investigation that cleared former premier Alison Redford of conflict-of-interest allegations. (http://bit.ly/1ThGEQJ)
** Ridership of the rail link to Toronto's airport has flatlined since the summer, opening up the controversial service to renewed criticism. (http://bit.ly/1RiQhjC)
NATIONAL POST
** The Alberta Securities Commission has given Canadian Oil Sands Ltd until Jan. 4 to find alternative suitors to Suncor Energy Inc's hostile $6.9 billion takeover bid. (http://bit.ly/1lVfqVJ)
** It's taken five years, four versions of the bill and two members of provincial parliament to bring it forward, but tips in Ontario will soon be protected from employer clawbacks. (http://bit.ly/1MTpRSo)
** One man was killed in an apparent drive-by shooting on Monday morning in northwest Toronto, police said. (http://bit.ly/1YEQiQT)
China
21th CENTURY BUSINESS HERALD
- China's trade surplus in goods and services for January to October has risen to 1.9 trillion yuan, according to statistics released by State Administration of Foreign Exchange on Nov. 30.
- The State Grid Corporation of China has received approval to issue 30 billion yuan worth of corporate bonds, which will be used for 24 construction projects, according to National Development and Reform Commission.
CHINA DAILY
- It will take strenuous endeavours by all parties to make sure the Paris climate talks will not be remembered as a lost opportunity, and China must be a staunch forerunner in humanity's fight against global warming, an editorial said.
CBN DAILY
- The average price of Shanghai housing sector rose 4.6 percent to 34,705 yuan per square meter in November from the preceding month, according to data from Centaline Property Agency.
British Business
The Times
* Britain's Labour MPs are to be offered a free vote on extending air strikes against Islamic State in Syria, while Jeremy Corbyn maintains that his opposition to the strikes will be the party's official policy. (http://thetim.es/1Ix79vG)
* Business groups have attacked the government for "changing the goalposts" after a new rule that companies winning disputes with HM Revenue & Customs will be taxed heavily. Measures contained in the fine print of the chancellor's autumn statement will impose a "penal" 45 per cent tax rate on interest payouts made to companies that win legitimate tax refunds. (http://thetim.es/1RfyJVp)
The Guardian
* Uber Technologies, the ride-hailing app firm that is taking on taxi drivers around the world, is launching its car-sharing service in London. UberPool will be available to customers in the capital from Friday, enabling passengers to share taxi rides if they are heading in the same direction. (http://bit.ly/1lpGjQO)
* More than 2,000 workers at the digger maker JCB have voted to work fewer hours to reduce the number of redundancies demanded by the company as it struggles to cope with falling global demand for mining and construction equipment. (http://bit.ly/1PWrDpC)
The Telegraph
* BATS Global Markets is said to be eyeing a float next year and could file documents with the U.S. regulator, the Securities and Exchange Commission, in a matter of weeks. The exchange operator, which is one of the biggest, will be hoping the IPO goes far more smoothly that its first try, when BATS's debut on its own exchange went catastrophically wrong. (http://bit.ly/1l3t3lz)
* ICBC Standard Bank has had to pay out $32.5 million (£21.6 million) to Britain and Tanzania for failing to stop a bribe being paid which it helped to secure business in the African country. (http://bit.ly/1RhD0I3)
Sky News
* Fortnum & Mason has reported record sales and profits for its last financial year - driven by its new website. It said its new website, launched during the period, helped online sales rise 22 percent while like-for-like sales enjoyed a 13 percent increase. (http://bit.ly/1l3tzzM)
* Diageo PLC, the owner of Guinness, Johnnie Walker and Smirnoff, is laying the foundations for the appointment of a successor to its veteran chairman. Sky News has learnt that Diageo has appointed JCA Group, a leading boardroom headhunter, to identify a non-executive director capable of replacing Franz Humer in a couple of years. (http://bit.ly/1HBdATN)
The Independent
* Britain's banks will tonight learn whether they have passed tough Bank of England stress tests, after the collapsed bank HBOS was told it had "less than" a 1 in 100,000 chances of failing those imposed by the then regulator just three years before its near-collapse. (http://ind.pn/1jsgYoa)
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Syrian refugees in Canada will likely congregate in Montreal + Toronto. The complaint in Quebec has always been that immigrants are sent into Quebec so they vote in favour of federalist politics.
Likely anyone coming from the Middle East that has French as part of their language history will opt for Montreal.
Considering that most European immigrants in the 1950's and 1960's were initially children during WWII, it makes for an interesting response to the refugee crisis, since there's nothing new to the story, except that the hurdles you have to overcome are just so much more protracted.
"Global Stocks Edge Higher on Expected ECB Stimulus "
Forever requiring more QE and 0 or negative rates.
Can't get off the breathing/heart-lung machine, the patient's dead without stimulus.
LOL, what a recovery!
Add this to the list......
http://beforeitsnews.com/conspiracy-theories/2015/11/us-gives-their-prox...