- Asia stocks slide as Deutsche sours mood, oil pulls back (Reuters)
- Deutsche Bank Drops to Record as Some Clients Reduce Exposure (BBG)
- Deutsche CEO tries to reassure staff as shares plunge (Reuters)
- Oil falls as investors cash in on OPEC deal rally, dollar rises (Reuters)
- Three Chinese fishermen killed in confrontation with South Korea coastguard (Reuters)
- Och-Ziff Plea Stalls Rise of Hedge-Fund Billionaire’s Protege (BBG)
- Qualcomm in Talks to Acquire NXP Semiconductors (WSJ)
- Syrian army, rebels wage fierce battles in Aleppo (Reuters)
- Euro-Area Inflation Accelerates to Fastest Rate Since 2014 (BBG)
- Pakistan ‘completely rejects’ Indian claim of cross-border strikes (Reuters)
- Clinton says Trump may have violated U.S. law on Cuba (Reuters)
- Promontory Financial Group Signs Up With IBM (WSJ)
- Refiners Stung by OPEC Output Deal Face a Bigger Problem (BBG)
- Global funds add to Japan, euro zone bonds, see no further sell offs (Reuters)
- Bulgaria bans full-face veils in public places (Reuters)
- Congress’s Retreat on 9/11 Saudi Bill Shows Fear of Backlash (BBG)
- Samsung slammed by Chinese state TV over Note 7 recall ‘discrimination’ (Reuters)
- In OPEC Hotel, Dealmaker’s Gambit Wins Saudi-Iran Agreement (BBG)
- Turkey pulls plug on 20 radio, TV channels in post-coup emergency decree (Reuters)
Overnight Media Digest
WSJ
– Qualcomm Inc is in talks to buy NXP Semiconductors NV in a deal that could cost more than $30 billion, accelerating a consolidation rush in the semiconductor industry. http://on.wsj.com/2dvNIzR
– Dunkin’ Brands Group Inc said it would launch bottled Dunkin’ Donuts coffee in U.S. early next year, which will be produced and distributed by Coca-Cola Co. http://on.wsj.com/2dvOj4J
– Nissan Motor Co Ltd may scrap an investment in the United Kingdom without more clarity on the country’s plans for post-Brexit trade relations with the European Union, Chief Executive Carlos Ghosn said. http://on.wsj.com/2dvNw3z
– Salesforce.com Inc said it would ask regulators in the US and EU to block Microsoft Corp’s $26.2 billion acquisition of LinkedIn Corp, saying the deal would hurt competition. http://on.wsj.com/2dvOAo3
FT
Nissan Motor Co Ltd wants Britain to pledge compensation for any tax barriers resulting from its decision to leave the European Union, or the Japanese automaker could scrap a potential new investment in the country’s biggest car plant in Sunderland, Chief Executive Carlos Ghosn said on Thursday.
The Association of British Insurers in a new submission to government called for a regulatory environment that “is appropriate for the UK market”, in the biggest hint yet that it will push for changes to the Solvency II capital rules following Britain’s vote to leave the EU.
Telenor ASA has warned a UK regulator that pursuing a “legal separation” of BT Group Plc and its Openreach unit is a “dead end”, according to a letter sent by the Norwegian telecom’s boss to Ofcom Chief Executive Sharon White.
A planned reform of global banking rules being discussed by the United States, Europe, Japan and other major economies risks negatively affecting European banks and needs to be changed, the EU financial services commissioner said on Thursday.
NYT
– Harvard has brought in a new manager from Columbia University to run its $36 billion endowment, the largest of any university. N. P. Narvekar, 54, was appointed president and chief executive of Harvard Management Company, the university said in a statement on Thursday. http://nyti.ms/2dbOan8
– Nutanix Inc priced its $238 million initial public offering, with a valuation of $2.18 billion – slightly higher than the one it received in the private markets two and a half years ago. http://nyti.ms/2dE7tkL
– Federal auditors ruled on Thursday that the Obama administration had violated the law by paying health insurance companies more than allowed under the Affordable Care Act in an effort to hold down insurance premiums. http://nyti.ms/2dr8YkS
– The Obama administration, in its latest effort to update workplace policies it says have lagged far behind the realities of Americans’ lives, will require federal government contractors to provide paid sick leave to their workers. http://nyti.ms/2daEXYS
Canada
THE GLOBE AND MAIL
** Ontario, Quebec and California environment ministers met in Toronto Thursday and discussed Ontario’s plan to join the Western Climate Initiative, which is dominated by the U.S. state whose population is double that of the two provinces. http://bit.ly/2dJJC6i
** At least two unexplained cases of sudden, partial paralysis in young children have been confirmed in Canada, and doctors believe the cases could be linked to the return of a virus that in 2014 sent hundreds of North American children to hospital with severe respiratory illness. http://bit.ly/2d0MRCa
** Enbridge Inc will sell a key Saskatchewan pipeline system for $1.075 billion as it looks for financial room to help it proceed with its massive takeover of Houston-based Spectra Energy Corp. The deal announced late Thursday will see private midstream firm Tundra Energy Marketing Ltd buy Enbridge’s South East Saskatchewan pipeline system. http://bit.ly/2dwoxZE
NATIONAL POST
** Loyal BlackBerry fans may still be able to get their thumbs on a last new, in-house designed handset despite the company’s decision to stop developing hardware internally by the end of its fiscal year. BlackBerry Ltd CEO John Chen is in the midst of testing a handset prototype – it sounds like it features the beloved keyboard – that was already in the works when the company decided to give up hardware development to focus on software, he told reporters at a round-table discussion at the Waterloo headquarters on Wednesday. http://bit.ly/2dEDqcy
** Bank branch closures and staff cuts aren’t new to the financial services industry as it adjusts to customer demands for more online and mobile services, and competition from fintech rivals. But Laurentian Bank of Canada’s announcement late Thursday that 50 branches will be merged, eliminating around 300 employees in the process, was particularly bold, says Rob Sedran, an analyst at CIBC World Markets. http://bit.ly/2cQe7pk
** The Competition Bureau is going after the Vancouver Airport Authority for restricting competition among in-flight catering companies. An investigation by the bureau found that the airport authority has “refused” to give new in-flight catering suppliers access to the Vancouver International Airport, even though the airlines that use the airport want more choice in suppliers. http://bit.ly/2dEEuxc
Britain
The Times
British Steel will be capable of making profits of £150 million ($194.46 million) a year if it gets the right government support, Roland Junck, the company’s executive chairman said. (http://bit.ly/2dbg3M3)
Jeremy Corbyn and Labour MPs are edging towards a “coalition agreement” that would allow members of the parliamentary party to choose who fills some shadow cabinet posts. (http://bit.ly/2dbllHl)
The Guardian
London Mayor Sadiq Khan is planning to launch the UK’s most comprehensive inquiry into the impact of foreign investment flooding London’s housing market. (http://bit.ly/2dbhgmA)
The European head of Airbnb has denied claims that the company is driving up property prices and perpetuating London’s housing crisis. (http://bit.ly/2dbhiL7)
The Telegraph
Commerzbank, the second-biggest bank in Germany, has suspended its dividend and revealed more than 9,000 job losses. (http://bit.ly/2dbiBK0)
Sky News
Two of Europe’s biggest web hosting service providers, Strato and Hellman & Friedman, are teaming up with private equity groups in a bid to win control of a British-based Host Europe. (http://bit.ly/2dbimic)
Government ministers and stakeholders from the UK, France and China have attended a ceremony to officially agree the £18bn Hinkley Point C nuclear power station. (http://bit.ly/2dbjmTB)
The Independent
Vitol, the world’s biggest oil trader, faces a potential scandal over claims it ripped off the people of impoverished Mozambique for critical fuel by at least $80 million last year. (http://ind.pn/2dbjJgY)
Deutsche Bank came under mounting pressure after it emerged that some hedge funds worried about its financial strength had started to trim their exposure to the troubled lender. (http://bit.ly/2dbkVAP)
via http://ift.tt/2dJV15N Tyler Durden