- Japan inflation slows to 14 month low, output, wages, disposable income slips (Reuters [16])
- Russia says ruble crisis over as reserves dive, inflation climbs (Reuters [17])
- Ruble rebounds sharply from lows as exporters sell dollars (Reuters [18])
- Xbox, PlayStation Networks Attacked, Hackers Claim Credit (BBG [19])
- Sony’s ‘The Interview’ Packs Theaters Without Violence (BBG [20])
- Oil edges above $60 as Libyan output slumps (Reuters [18])
- Shoppers’ Late Rush Gives Hope to Retailers (WSJ [21])
- Japan says close to deal with South Korea and U.S. on North Korea defense (Reuters [22])
- NYPD Arrests Seven for Threats After Slayings of Officers (BBG [23])
- Putin Blames Russian Government for Economic Situation (Sputnik [24])
- Credit Suisse Told to Face New York’s Mortgage-Fraud Claims (BBG [25])
- Tesla Helps Chinese Buyers Trade in Old Cars for Model S (BBG [26])
- Turkish boy arrested for insulting Erdogan is freed pending trial (Reuters [27])
- Libya: Fighters Clash With Troops Defending Oil Sites (NYT [28])
- RBI may lift embargo on banks lending against gold (Hindu Businessline [29])
- BofA Fired Hong Kong Banker to Avoid Paying Bonus, Judge Rules (BBG [30])
Bulletin headline summary
WSJ
* The Obama administration is increasingly concerned about a wave of digital extortion copycats in the aftermath of the cyberattack on Sony Pictures Entertainment, as the government and companies try to navigate unfamiliar territory to fortify defenses against further breaches. (http://on.wsj.com/1zltw1I [31])
* China's central bank is taking more steps to boost banks' lending abilities in an effort to shore up the world's second-largest economy, according to banking executives with knowledge of the matter. (http://on.wsj.com/142WJqi [32])
* Officials at the Centers of Medicare and Medicaid Services are looking for ways to reduce fraud and abuse without restricting access to medical care. (http://on.wsj.com/1xiKZcR [33])
* Standard & Poor's Ratings Services is nearing a settlement with regulators over their investigation of how the company graded real-estate bonds, according to people familiar with the matter. (http://on.wsj.com/1zX9woM [34])
* About 300 small, niche theaters are showing the movie "The Interview," which was yanked by Sony last week after big theater chains refused to show it due to a terrorist threat. (http://on.wsj.com/1APnCdq [35])
* RadioShack Corp has shut more stores in the past two months than the rest of the year, though it's hard to tell the difference. The chain still has a heavy surplus of stores in many local markets. (http://on.wsj.com/1EmMtZV [36])
* Sumitomo Mitsui Financial Group Inc said it would purchase Citigroup Inc's Japanese retail operations, leaving the New York bank to focus on corporate banking, investment banking and other institutional businesses in the world's third-largest economy. (http://on.wsj.com/1AaI9cs [37])
NYT
* The mysterious murder of a top executive is one of many troubles that have shaken Doral Financial Corp and unnerved investors. (http://nyti.ms/13IbxtF [38])
* "The Interview" improbably became a symbol of free speech over the last week as hackers first managed to get it withdrawn from theaters and then, after a groundswell of support for releasing it that reached the White House, watched it open after all. (http://nyti.ms/1wM6jsJ [39])
* The Environmental Protection Agency is trying to complete a regulation governing emissions from power sources, and a formula for how to treat nuclear plants is proving contentious. (http://nyti.ms/1H1ccF9 [40])
* With a crackdown on payday lenders, subprime borrowers are increasingly using auto title loans, whose high interest rates can lead to repossession and financial ruin. (http://nyti.ms/13ykci2 [41])
* Security researchers are increasingly voicing doubts about the United States government assertions that North Korea was behind the attack on Sony Corp's computer network. (http://nyti.ms/1vutbZa [42])
* With the help of the technology giants Google and Microsoft, Sony Pictures began distributing "The Interview" online Wednesday after a terror threat led the major theater chains to cancel the film's release. Among the Internet services that offered the film were the Google Play store, Google's YouTube and Microsoft's Xbox Video. (http://nyti.ms/1zXdYnG [43])
* Leading business schools are breaking from traditional approaches and picking up the digital-age arts of speed and constant experimentation. Business plan competitions have become common. Students' ideas usually have a digital component - websites, smartphone apps or sensor data. Innovation and entrepreneurship centers have proliferated. Dual-degree programs, with a science or engineering degree added to an MBA, are increasing. (http://nyti.ms/1zXdYnG [43])
Canada
THE GLOBE AND MAIL
** Two of Canada's largest telecom giants have reached a deal over control of wireless phone retailer Glentel Inc . A news release from BCE Inc issued late Wednesday says it has reached an agreement with Rogers that will see each company own 50 per cent of Glentel. (http://bit.ly/1wMR82k [44])
** In the coming days, the Ontario government will unveil details of the new Jobs and Prosperity Fund, rolling all existing corporate handouts into one C$2.5-billion ($2.15 billion) program. But economists warn it is not clear the province does the rigorous analysis necessary to see if those subsidies are working. (http://bit.ly/1AQpCCf [45])
** Brookfield Asset Management Inc has hiked its offer to other shareholders of Brookfield Residential Properties Inc by 5.4 percent as it seeks to acquire full ownership of the North American land developer and homebuilder. (http://bit.ly/1HKiPKE [46])
** Cliffs Natural Resources Inc is feeling more pain from its foray into Canada. As the Cleveland-based company pulls up stakes at its money-losing Bloom Lake iron ore mine in northeastern Quebec after investing billions in what its chief executive dubbed a "disaster," the company's subsidiary, Bloom Lake General Partner Ltd has been hit with a record C$7.5-million fine for environmental infractions at the site. (http://bit.ly/16TGP2L [47])
NATIONAL POST
** Almost three quarters of Canadian businesses have experienced data loss or downtime in the past year, to the tune of C$16.8 billion, according to a global data protection study released this month by EMC Corporation. Those problematic workloads are the ones that have had the Information Technology world buzzing this year: hybrid cloud, big data, and mobile. (http://bit.ly/1xjPsfp [48])
** In his annual Christmas message, Prime Minister Stephen Harper asked Canadians to pray for members of the military as they battle Islamic extremists in northern Iraq. Harper said Canadians are doing what they are known for - "protecting the vulnerable, promoting peace, and defending the freedom of all people". (http://bit.ly/1Eo9ewH [49])
** Almost two-thirds of Canadians believe homegrown terrorism is a serious issue, but most do not perceive a threat from radicalized individuals in their communities, according to a new survey. The national poll, conducted in the wake of deadly attacks on Canadian soldiers, found that just over half of respondents supported new anti-terror legislation that would boost the powers of Canada's spies. (http://bit.ly/1HKmLLq [50])
China
CHINA SECURITIES JOURNAL
- China is preparing draft regulations on financial marketing and will publish them as soon as possible, said Wang Ou, vice-director of the innovation department of China Securities Regulatory Commission.
SHANGHAI SECURITIES NEWS
- The Ministry of Industry and Information Technology of China said in an announcement it encouraged private funds to invest in the broadband market.
- The country's top competition regulator will strengthen its anti-monopoly efforts next year to ensure fairer market conditions. Zhang Mao, head of the State Administration for Industry and Commerce, said its priority for 2015 remains cracking down on monopoly and illegal competition in key sectors, and any actions that infringe upon commercial intelligence rules.
SHANGHAI DAILY
- China's job market has proved resilient, despite slowing economic growth, with more than 13 million new jobs expected to be created this year, said Yin Weimin, human resources and social security minister, adding that China's registered urban jobless rate will stay at a "relatively low" level.
CHINA DAILY
- The application to set up Shanghai Huarui Bank Co Ltd, which would have been the first private lender in the city, has been rejected following assessments, according to an announcement by one of the shareholders. Analysts said the regulators might not have approved the proposed bank because Juneyao Group holds shares, through direct and indirect shareholding, amounting to 39 percent of the proposed bank, exceeding the 30 percent ceiling set by the government.