- European shares slip as easing expectations fade (Reuters [21])
- Valeant and Pharmacy More Intertwined Than Thought (WSJ [22])
- The Pawn Isolated: Valeant, Philidor and the Annals of Fraud (WSJ [23])
- Strongest Afghan Quake Since 1949 Triggers Search for Survivors (BBG [24])
- EU Agrees To Tighten Border Controls And Slow Migrant Arrival (AP [25])
- Volkswagen Suspends More Employees (WSJ [26])
- Volkswagen Loses Global Sales Lead to Toyota Amid Diesel Scandal (BBG [27])
- Greek Minister Rejects Criticism Over Allowing Transit of Migrants (WSJ [28])
- IMF set for green light on China's yuan joining currency basket (Reuters [29])
- China banks come back for more capital as bad loans pile up (Reuters [30])
- Wal-Mart Shrinks the Big Box, Vexing Vendors (WSJ [31])
- Valeant CEO's Outsider Roots Spun Market Gold, Until They Didn't (BBG [32])
- A China twist: why are malls closing if consumption is rising (Reuters [33])
- ‘Spoofing’ trial in Chicago to test market clampdown (FT [34])
- Emerging Currencies’ Fate Looms Large In Rich World Rates Policy (Reuters [35])
- German Business Confidence Falls as Global Risks Take Toll (BBG [36])
- Afghanistan Looks to Russia for Military Hardware (WSJ [37])
- The Eye-Scanning ATM Is Here (WSJ [38])
- Don't Let Wal-Mart Fool You, U.S. Investors Love Consumers (BBG [39])
- US escalates Deutsche Bank probe into Russian trades (FT [40])
Overnight Media Digest
WSJ
- Interviews with former employees, doctors who prescribe Valeant drugs and patients indicate that the ties between Valeant Pharmaceuticals Inc and mail-order pharmacy Philidor are more interconnected than previously disclosed. (http://on.wsj.com/1PN2fC7 [22])
- Quarterly profits and sales from big American companies are poised to fall for the first time since the recession, as some industrial firms warn of a pullback in spending. (http://on.wsj.com/1PNfK4I [41])
- The United Auto Workers has struck a tentative labor deal with General Motors Co, avoiding a strike that would have dented the company's U.S. production and clearing the path for members to vote on the proposal, which sets pay and benefits for the next four years. (http://on.wsj.com/1i7Txjo [42])
- Volkswagen AG has suspended a larger number of employees than previously acknowledged following a recommendation from the law firm conducting an internal probe into the auto maker's emissions cheating scandal. (http://on.wsj.com/206CErv [26])
- Citigroup Inc is testing new technology with automated-teller-machine maker Diebold Inc that would allow customers to withdraw money with an eyeball scan or a code on a smartphone instead of a card swipe. (http://on.wsj.com/1GBW3tQ [38])
- Wal Mart Stores is looking to boost sales with fewer products, adding to tensions with its suppliers. (http://on.wsj.com/1Ml2N1A [43])
FT
U.S. regulators are expanding their probe into Deutsche Bank AG, as a money laundering investigation into one of its Moscow units has begun to look at the possibility of sanctions violations.
Britain's Aberdeen Asset Management, which has been grappling with a slump in profitability and share price, has begun to sound out potential buyers.
Top European Union official Janez Potocnik alerted the European commissioner in charge of industrial policy in a letter two years ago, saying carmakers were gaming European emissions tests.
NYT
- Japan's economy has contracted so many times in the last few years that the meaning of recession has started to blur. If an economy is shrinking almost as often as it is growing, what does any single downturn say about its health? Now Japan appears to be faltering again. (http://nyti.ms/1Lw8Mgz [44])
- Facebook's rocky experience since it brought stripped-down Internet access to India shows that good intentions and technological savvy are not enough. (http://nyti.ms/1MNQWmZ [45])
- The Indonesian president, Joko Widodo, said he would decide whether Southeast Asia's largest economy would join the United States-led Pacific trade agreement after his meeting with President Barack Obama at the White House on Monday. (http://nyti.ms/1GrXKdy [46])
- Russian submarines and spy ships are aggressively operating near the vital undersea cables that carry almost all global Internet communications, raising concerns among some American military and intelligence officials that the Russians might be planning to attack those lines in times of tension or conflict. (http://nyti.ms/1k3UpXp [47])
- A person briefed on the Volkswagen inquiry said it is going beyond those responsible for installing illegal software to include managers who may have learned of the deception and failed to take appropriate action. (http://nyti.ms/206IadG [48])
Canada
THE GLOBE AND MAIL
** Key automotive provisions of the Trans-Pacific trade agreement are bad for Canada, so the new Liberal government needs to take a careful look at the deal before approving it, says Dianne Craig, Ford Motor Co's Canada chief executive officer. (http://bit.ly/1RwJf8k [49])
** The civilian watchdog that oversees the Royal Canadian Mounted Police has completed its investigation into the force's treatment of indigenous women and girls in northern British Columbia - a probe launched more than two years ago in response to a human-rights report that detailed allegations including excessive use of force, rape and mishandling of missing-persons reports. (http://bit.ly/1KzZI6A [50])
NATIONAL POST
** At least three people are dead and others are missing after a weekend whale watching expedition on British Columbia's west coast ended with a vessel capsizing, sending dozens of people into the ocean water. (http://bit.ly/1Xt0TOq [51])
** A trifecta of concerns was brought to Elizabeth Denham, British Columbia's Information and Privacy Commissioner, earlier this year. Denham investigated claims of inappropriate, possibly illegal destruction of government records, and requests for information deliberately undermined. (http://bit.ly/1WdtGE6 [52])
China
CHINA BUSINESS NEWS
- Shanghai's urban and rural residents will have access to basic medical insurance from 2016, the local government said. Funding per capita for rural residents will be raised from 2,000 yuan ($315) to over 3,000 yuan, the same level as urban residents.
- 181 A share-listed firms have changed their names so far this year, according to calculations from financial data provider Wind. Analysts said the name-change fever helped to fuel the bullish market in the first-half.
SECURITIES TIMES
- Fifty-six funds have suffered a total loss of 370 billion yuan ($58.28 billion) according to their third quarter reports, partly due to the stock market slump during that period, according to TX Investment Consulting.
CHINA DAILY
- China needs to forge ahead with reform, rather than introduce continual financial stimulus measures, to ease the country's economic woes, Wu Jinglian, researcher at the State Council Development Research center, was quoted as saying.
- The total number of companies listed on China's New Third Board may exceed 6,000 by the end of this year, up from 3,772, raising the probability of the regulator rolling out new rules, analysts said.
Britain
The Times
Volkswagen AG poured money into an "independent" scientific group, European Research Group on Environment and Health, which has challenged claims that diesel car fumes cause lung cancer and ill health, an investigation by The Times can reveal. (http://thetim.es/1PMM9sj [53])
The Guardian
TalkTalk Telecom Group Plc chief executive Dido Harding has insisted the company's cyber security is "head and shoulders" better than its competitors in the wake of the massive hack attack affecting thousands of customers. (http://bit.ly/1PMMxHb [54])
Aldi has pledged to increase staff wages to a minimum rate of 8.40 pounds per hour from February next year. The company has confirmed that all of its UK employees will be paid at least 8.40 pounds an hour, and 9.45 pounds an hour in London, from Feb. 1, 2016. (http://bit.ly/1OPXwj2 [55])
The Telegraph
The boss of Anheuser-Busch InBev is understood to have flown to South Africa last week as the world's biggest brewer braces for a battle to gain approval for its mooted 68 billion-pound takeover of SABMiller Plc. (http://bit.ly/1i7u4GL [56])
British households should prepare for higher interest rates now even though a hike is not guaranteed, according to Governor of the Bank of England Mark Carney. (http://bit.ly/1P0dJR4 [57])
Sky News
Caledonia Investments Plc is to announce on Monday that it has agreed a deal to acquire the business from Gala Coral, one of the country's largest betting and gaming groups. (http://bit.ly/1H3kT0q [58])
Woodford Investment Management <IPO-WOOD.L> wants Britain's biggest pharmaceuticals group, GlaxosmithKline Plc, to explore formally the separation of its HIV business ViiV, its consumer healthcare division and Stiefel, its dermatology division, from its core medicines and vaccines arm. (http://bit.ly/1RtTBpM [59])
The Independent
Billionaire hedge fund managers who are backing the campaign to take Britain out of Europe stand to bank millions more pounds a year in the event of a so-called "Brexit". (http://ind.pn/206wdoh [60])