- Hilsenrath - The Fed Strives for a Clear Signal on Interest Rates (WSJ [20])
- Tentative Budget Deal Reached, Raising Debt Limit (WSJ [21])
- China Calls U.S. Challenge Over Island Threat to Regional Peace (BBG [22])
- UK economy slows more than expected in third quarter (Reuters [23])
- In China’s Alleyways, Underground Banks Move Money (WSJ [24])
- Inside the Secretive Circle That Rules a $14 Trillion Market (BBG [25])
- A Frustrated Koch Brother Decides It’s Time to ‘Spout Off’ (WSJ [26])
- Thiel, Soros Said to Lead $25 Million Investment in TruMid (BBG [27])
- BP shrinks further to weather extended oil slump (Reuters [28])
- Iran's Man in New York Is Hunting for Billions of Dollars (BBG [29])
- Alibaba revenue rises 32 percent, beating expectations (Reuters [30])
- Oil Market May Need to Wait Until 2016 for Iran Supply Boost (BBG [31])
- New way to bet on oil wipes out billions in investor savings (AP [32])
- China army says West trying to 'falsify' Communist Party history (Reuters [33])
- Japan Post Holdings Climbs 5% Before Debut in Tokyo Next Week (BBG [34])
- Youth arrested in Northern Ireland over TalkTalk hack bailed (Reuters [35])
Overnight Media Digest
WSJ
- A U.S. Navy destroyer sailed within 12 nautical miles of artificial islands claimed by China, in a direct challenge to Beijing that raises the stakes in an expanding, multination territorial dispute.(http://on.wsj.com/1H5uNi9 [36])
- A state banking regulator is poised to fine Goldman Sachs Group Inc $50 million for a former employee's alleged obtaining and sharing of confidential supervisory materials from the Federal Reserve Bank of New York.(http://on.wsj.com/1H5yBjE [37])
- Valeant Pharmaceuticals International Inc defended itself, saying it had properly accounted for its relationships with specialty pharmacies and had found no illegal activity at the company. But not all investors were convinced, and the shares continued their slide.(http://on.wsj.com/1ibkTVO [38])
- General Motors, which has been delivering some of the richest operating profits in its 107-year history, has decided to do something it hasn't done in nearly a decade: give its veteran U.S. factory workers a raise. (http://on.wsj.com/1OTv6ol [39])
- Wal Mart Stores Inc, the world's largest retailer by revenue, asked the Federal Aviation Administration in a letter for permission to use outdoor unmanned aircraft to test everything from package delivery to inventory management. To date, drone tests "have been strictly limited to indoor tests," the retailer said in the letter, which was submitted Monday. (http://on.wsj.com/1OTvmUo [40])
FT
Deutsche Bank AG co-Chief Executive John Cryan is set to talk about replacing the bank's messy and outdated technology, cutting tens of thousands of jobs and shrinking the bonus pool when he presents his strategy to investors on Thursday.
Police arrested a 15-year-old boy in Northern Ireland on Monday over a cyber attack that may have led to the theft of data from among the 4 million customers of British broadband provider TalkTalk Telecom Group Plc.
Healthcare services provider Georgia Healthcare Group (IPO-GEOR.L) set a price range of about 215 pence to 315 pence share, valuing the company between 257 million stg and 347 million stg
NYT
- A former Goldman Sachs Group Inc banker admitted his guilt in taking confidential documents from an employee at the Federal Reserve Bank of New York, who also agreed to plead guilty. (http://nyti.ms/1KC360H [41])
- Valeant Pharmaceuticals said in a conference call that its accounting was legal in connection with the pharmacy, Philidor Rx Services.(http://nyti.ms/1Xv2lQh [42])
- President Joko Widodo of Indonesia met with President Obama in Washington and said his country would eventually join the Trans-Pacific Partnership. (http://nyti.ms/1GFevBM [43])
- United Automobile Workers leaders from General Motors plants nationwide will gather Wednesday in Detroit to learn details of a tentative agreement reached with GM late Sunday that covers about 52,000 employees. If the union leaders approve, the deal would next be voted on by GM's UAW members. (http://nyti.ms/1ibvQXx [44])
- Wal Mart Stores Inc applied to federal regulators on Monday for permission to test drones for home delivery and for use at its distribution centers and stores. In pushing ahead with drone technology, the company follows Amazon, which has been trumpeting its "Prime Air" drone delivery plans since 2013. (http://nyti.ms/1WeOafJ [45])
China
21ST CENTURY BUSINESS HERALD
- The volume of goods carried by China's civil airlines in the first nine months of the year was up 5.7 percent from a year earlier, the National Development and Reform Commission (NDRC), China's top economic planner, said on Monday.
CHINA BUSINESS NEWS
- French President Francois Hollande will pay a state visit to China in early November, China's Ministry of Foreign Affairs said on Monday. According to the French Embassy in China, President Hollande will go to Chongqing and Beijing to discuss a climate meeting being held in Paris at the end of November.
SHANGHAI SECURITIES NEWS
- Out of 24 Chinese provinces which have reported their Jan-Sept financial figures, 15 saw GDP growth speed up while 5 saw growth remain flat. Only Shanghai, Beijing, Zhejiang and Hebei saw the rate of growth drop.
SECURITIES TIMES
- Shanghai's stock exchange will crack down on firms giving vague explanations for share price fluctuations, according to four "instructions" published on its official website on Monday.
CHINA DAILY
- China will strengthen enforcement against cloud storage providers who allow users to upload material that infringes copyright, according to a regulation from the National Copyright Administration. The move is part of a wider crackdown on pirated movies and TV content.
SHANGHAI DAILY
- Shanghai's Pudong district has cut subsidies for new energy cars in half, the district government said.
Britain
The Times
The Treasury could be set for another hefty dividend of at least 1 billion stg from the mobile phone industry after it set out plans to auction off more airwaves to speed up smartphones and structured the sale to generate the highest bids possible. (thetim.es/1KBK36B)
The Guardian
Equiniti Group Plc IPO-EQUI.L, the share registrar company that handles dividend payments for most FTSE 100 companies, has attracted enough interest to support its imminent 500 million stg to 600 million stg flotation, despite growing investor indifference to all but the larger share issues. (bit.ly/1WewyG6)
The oil and gas company Maersk Oil has confirmed it is to cut about 220 jobs in the United Kingdom. The Danish operator said it was reducing its workforce by between 10 percent and 12 percent globally as part of a drive to cut operating costs by 20 percent by the end of 2016. (bit.ly/1MnIIrv)
The Telegraph
Payday lender Dollar Financial has been ordered to pay customers a total of 15.4 million stg in redress for poor affordability checks, debt collection practices and systems errors. (bit.ly/1H5fhTz)
British households are using higher wages to pay off their credit card debts, rather than relying on the plastic for their shopping, in the latest sign that the economy is performing well. (bit.ly/1ibc4Lv)
Sky News
Cuts to tax credits will be delayed after the British government was defeated twice in the House of Lords. (bit.ly/1OT8cNN)
Volkswagen AG has slipped back to second place in the list of the world's top car makers for the first nine months of the year. For the January to September period it sold 7.43 million vehicles, flat on the previous year and behind Toyota on 7.5 million - though Toyota Motor Corp sales were lower year-on-year. (bit.ly/1Nx5A52)
The Independent
A boy of 15 has been arrested and questioned on suspicion of being the mastermind behind the TalkTalk Telecom Group Plc data theft cyber attack. (ind.pn/1MfnVjv)