- Global Stocks Slip Lower (WSJ [29])
- Dollar sits pretty, bond yields rise as Fed bets firm (Reuters [30])
- Takeover Loans Have Few Takers on Wall Street (WSJ [31])
- Chinese Buyers Seek Dollar Assets as Promise of Yuan Gains Fades (BBG [32])
- Banking Giants Learn Cost of Preventing Another Lehman Moment (BBG [33])
- Eurozone Finance Ministers Won’t Release $2.15 billion Loan to Greece (WSJ [34])
- Greece plans a return to capital markets (FT [35])
- China Slowdown Hits Earnings in Japan (WSJ [36])
- BHP CEO Flies to Brazil as Prosecutors Seek License Halt (BBG [37])
- Fed Proves Irrelevant in $2.6 Trillion Slice of U.S. Debt Market (BBG [38])
- Saudi Arabia will not stop pumping to boost oil prices (FT [39])
- Saudi Vice Oil Minister Sees Price Surge After Cutbacks (BBG [40])
- Credit Suisse May Cut Bonuses by 60% After Writedown, SamS Says (BBG [41])
- Black gold under the Golan (Economist [42])
- Match, Owner of Dating Sites, Seeks $403.7 Million in IPO (BBG [43])
- Republican candidate Carson pushes back on veracity questions (Reuters [44])
- Weyerhaeuser to Buy Timber Rival Plum Creek for $8.4 Billion (BBG [45])
- Russian soldiers geolocated by photos in multiple Syria locations, bloggers say (Reuters [46])
- With Long Handshake, China and Taiwan Affirm Better Ties (BBG [47])
Overnight Media Digest
WSJ
- U.S. military officials have proposed sending more forces into Europe on a rotating basis and are stepping up training exercises to counter potential Russian interference with troop transfers in the event of a crisis with Moscow. (http://on.wsj.com/1Hp4fy0 [48])
- The deadly dam break at one of BHP Billiton's joint-owned mines in Brazil comes as steady improvements in major mining companies' records on worker fatalities appear to have stalled. (http://on.wsj.com/1NYMsx5 [49])
- U.S. prosecutors in at least four states are mounting investigations into what they say is widespread fraud by compounding pharmacies in claims to the health insurance program that covers 9.5 million U.S. military families. (http://on.wsj.com/1kjL5j3 [50])
- Pfizer Inc's accounting methods raise its reported tax rate, without increasing the actual taxes the company pays. More than two-thirds of the company's 2014 tax expense - $2.2 billion out of $3.1 billion - was money the company will actually pay only if and when it chooses to repatriate foreign profits. (http://on.wsj.com/20FoZrC [51])
- Pinterest plans to introduce Monday a new technology that would allow users of the photo-sharing website to search it for images of objects similar to ones they have identified with a highlighting tool. (http://on.wsj.com/1L55fSG [52])
- Volkswagen AG said it would announce a new sales initiative in the United States this week, in another small step to win back the trust of customers and dealers in the wake of its emissions-cheating scandal. (http://on.wsj.com/1MGiVoy [53])
FT
UniCredit, Italy's biggest bank by assets, is planning to cut around 10,000 jobs as it seeks to slash costs and boost profits, say people familiar with the matter.
Criminal prosecutor Deltan Martinazzo Dallagnol has warned foreign companies involved in Brazil's Petrobras corruption case to come forward, saying companies that came out in the open would be looked upon favourably.
Snapchat registers more than 6 billion views per day on videos posted on its app, according to people familiar with the matter. The figure has tripled since May this year. This isn't far behind Facebook's 8 billion views per day, which the company announced last week.
German carmaker Volkswagen AG's board will meet on Monday morning to discuss the growing emissions scandal, even as the company's labour union leaders prepare to fight to protect workers from expected job cuts.
NYT
- Volkswagen AG's recent disclosure that it reported false fuel economy and carbon dioxide readings to European regulators was prompted by an internal whistle-blower, the company said on Sunday. Efforts to discover who was responsible for misconduct at the German carmaker have been hampered by a culture of silence and a fear of delivering bad news to superiors. (http://nyti.ms/1NDLB6C [54])
- Egyptian military intelligence on Sunday detained an investigative journalist who is also the founder of Egypt's premier human rights group on charges of publishing false news, raising alarms about attempts to suppress domestic dissent as the government grapples with questions about the crash of a Russian passenger jet. (http://nyti.ms/1GS9iXJ [55])
- Even as they emerge from the post-financial-crisis haze, bankers are seeing few signs that their institutions and their bonuses will stage a full recovery anytime soon. Bonuses in the financial industry this year are expected to fall 5 to 10 percent, according to an annual report being released Monday by the compensation consulting firm Johnson Associates. It is the first year since 2011 that compensation for the industry as a whole is expected to drop. (http://nyti.ms/1PjZdFu [56])
- Successful stations are venturing into online streaming, but also playing to traditional strengths like thoughtfully curating playlists and championing new artists. (http://nyti.ms/1kjOTkd [57])
- David Harleston, an executive who serves as general counsel for media company Al Jazeera America, has helped oversee lawsuits against DirecTV and Al Gore. There are wrongful-termination cases brought by former employees who accuse the news channel of fostering a sexist and anti-Semitic environment. But according to court officials, there are no records that indicate Harleston is licensed to practice law in New York State, where Al Jazeera America has its headquarters. He has also not been admitted in any other jurisdiction, according to research by The New York Times. (http://nyti.ms/1Mu5lZI [58])
Canada
THE GLOBE AND MAIL
** Barack Obama's rejection of the proposed Keystone XL pipeline is prompting growing calls for Canada to take dramatic regulatory steps, including implementing a carbon tax, to demonstrate it is serious about reducing greenhouse gas emissions. The U.S. president leaned heavily on climate change when explaining why his government rejected TransCanada Corp's proposal, which would shuttle crude from the oil sands to refineries on Texas' Gulf Coast. (http://bit.ly/1XZbX5Y [59])
** Canada's Veterans Affairs Minister, Kent Hehr, calls it "devastating and tragic" that 59 soldiers who served in Afghanistan have since taken their lives, and he promises to transform the way Ottawa deals with members of the Canadian Armed Forces who have been in combat. (http://bit.ly/1XZc41t [60])
** Former Conservative cabinet minister Kellie Leitch says she is considering a run for the Conservative Party leadership, as the unofficial race to replace Stephen Harper begins in the most unlikely of places - Nova Scotia - where the Tories were wiped out in last month's federal election. (http://bit.ly/1MGE8hV [61])
NATIONAL POST
** Border officers have been warned that "disillusioned and traumatized foreign fighters" who had been taking part in extremist violence in Syria and Iraq may be trying to slip back into Canada, declassified documents show. (http://bit.ly/1OyXRXr [62])
** Research In Motion's Jim Balsillie warns that provisions tucked into the Trans-Pacific Partnership could cost Canada hundreds of billions of dollars - and eventually make signing it the worst public policy decision in the country's history. After poring over the treaty's final text, the businessman who helped build Canadian company Research In Motion, now renamed BlackBerry Ltd , into a $20-billion global player said the deal contains "troubling" rules on intellectual property.(http://bit.ly/1QoKOHs [63])
** Canada's prison watchdog wants the new Liberal government to act on outstanding recommendations from his office, including a call to create a deputy commissioner of aboriginal corrections. (http://bit.ly/1NZ6A20 [64])
Hong Kong
SOUTH CHINA MORNING POST
- Banks are slashing valuations for residential properties, in yet another sign of an approaching bear market in the city's real estate market. Investment bank Jefferies said banks have been trimming valuations by 2 to 15 percent since the end of August. Mortgage broker mReferral's analyst Sharmaine Lau said lenders are increasingly setting property values below transaction prices. (http://bit.ly/1M0Rh8p [65])
- Former China Aircraft Leasing Group chief executive Mike Poon, who went off the radar in June, was sighted in town last week by several people. Sources said Poon had been under detention on the mainland for a graft probe into China Southern Airlines. Poon has probably been freed after giving the authorities the information they wanted, a source with knowledge of the investigation said. (http://bit.ly/1Nld9cv [66])
- Global hotel chain Marriott International has unveiled an aggressive expansion plan in China that includes entering more than 20 second- and third-tier cities in four years. Marriott already has hotels in 26 Chinese cities while Craig Smith, the managing director of Marriott Asia-Pacific, said he wants to make that 50-plus cities in three to four years. (http://bit.ly/1MtAnkc [67])
THE STANDARD
- Frequent shadow visitors who join group tours to Hong Kong will be red-flagged and reported to mainland authorities, the Travel Industry Council Chairman Michael Wu said. If it is discovered that people have joined group tours to Hong Kong three times in two months, their names will be handed to the China National Tourism Administration, he added. (http://bit.ly/1PwEflp [68])
- Swire Properties has been looking at potential opportunities in first-tier cities in China although its prime focus remains its new projects, including a mixed-used development in Chengdu, says Chief Executive Guy Bradley. The firm is interested only in projects in prime locations of Tier-I cities that offer reasonable returns, Bradley said. (http://bit.ly/1QnNG7x [69])
HONG KONG ECONOMIC JOURNAL
- Retail outlets operator Theme International Holdings Ltd said it would scale down its garment business in Taiwan amid competitive environment in garment retail business and rising operating costs, as well as the poor financial performance of its retailing segment.
Britain
The Times
Sheffield Forgemasters, may be rescued by an arm of the Chinese state after becoming the latest victim of the crisis in the industry. But the prospect has caused deep concern at the Ministry of Defence, Rolls-Royce and BAE Systems because of Forgemasters' role in making key parts for Britain's Trident nuclear submarines. (http://thetim.es/1RHgqGX [70])
Jaguar Land Rover has launched a secret 4.5 billion pound ($6.78 billion) cost-cutting plan to offset rising emissions costs and the slowdown in China. The project - known as Leap 4.5 - will scrutinise almost every area of spending at Britain's biggest manufacturer, raising fears of job cuts. (http://thetim.es/1NkLxUT [71])
The Guardian
The Treasury and the Departments of Transport, Environment, and Communities and Local Government are the first ministries to have agreed deep spending cuts of 8 percent a year for the next four years, George Osborne will announce on Monday. (http://bit.ly/1RHgCG1 [72])
Senior TalkTalk staff were warned as early as 2013 that fraudsters were accessing customers' personal details - two years before the company fell victim to an external cyber attack. (http://bit.ly/1RHgCpw [73])
The Telegraph
Tata Steel has written to businesses in its supply chain telling them it requires an immediate 10 percent price reduction on all purchases, and plans to increase the cuts to 30 percent. (http://bit.ly/1RHgPc8 [74])
Greece is battling to secure the release of 2 billion euros ($2.15 billion) in bailout cash as one of the world's foremost tax chiefs has warned the country cannot survive without rooting out rampant tax evasion. (http://bit.ly/1RHgN4i [75])
Sky News
Ministers will unveil a fresh trade promotion drive on Monday backed by corporate giants including British Airways, HSBC and Microsoft, even as scepticism grows over the credibility of a 1 trillion pounds ($1.51 trillion) Government export target. (http://bit.ly/1RHgTIV [76])
Tech London Advocates, a private sector network with more than 2,000 members including the bosses of BT and TalkTalk, will publish research showing that a British exit from the European Union would damage the UK's appeal as a location for global company headquarters and reduce its influence in regulatory matters. (http://bit.ly/1RHgVAy [77])
The Independent
The CBI has warned the Chancellor not to slash the Business Department's science and innovation budget in the crunch spending review later this month. (http://ind.pn/1RHgZjK [78])
Ministers have hinted that the transport giant Arriva could be subjected to a Serious Fraud Office inquiry after it inflated figures on an NHS contract. (http://ind.pn/1RHgWVi [79])