- Bonds Selloff Spreads on Inflation Concern; Stocks Fall With Oil (BBG)
- Trump charges U.S. election results being rigged ‘at many polling places’ (Reuters)
- CNN’s Stelter Blames Firebombing of NC Republican Office on Trump’s ‘Over Heated’ Rhetoric (Newsbusters)
- Britain, France seek EU condemnation of Russia over Syria (Reuters)
- Inside the Secret Society of Wall Street’s Top In-House Lawyers (BBG)
- How Caterpillar’s Big Bet Backfired (WSJ)
- Lack of new blood casts doubt over Wells Fargo’s change plan (Reuters)
- Iran Boosting Oil Production in Possible Hitch to OPEC Deal (BBG)
- OPEC’s Oil U-Turn Missed Looming Peak Demand (BBG)
- Crown Shares Post Record Fall as China Detains Casino Staff (BBG)
- Samsung Self-Tested Batteries in Galaxy Note 7 Phone (WSJ)
- Big Winner From London’s Brexit Exodus Isn’t Even in Europe (BBG)
- China 2016 economic growth seen slowing to 6.6 pct, 6.5 pct in 2017 (Reuters)
- One of China’s Poorest Provinces Puts Nation on Track to Beat 6.5% Growth (BBG)
- ECB’s QE programme strains eurozone repo market (FT)
- Capital One US Delinquencies at Multiyear High (WSJ)
- Dumber Stock Market Theory Gains Traction in Earnings Day Impact (BBG)
- China Foreign Currency Shares Plunge in Sudden Afternoon Selloff (BBG)
- China launches longest manned space mission (Reuters)
- UK prosecutors question Barclays executives for Libor probe (FT)
Overnight Media Digest
WSJ
– A diverse coalition of Iraqi forces launched a long-awaited offensive against Islamic State in Mosul, one of the last major cities still controlled by the militant group. http://on.wsj.com/2dZIHjQ
– Hillary Clinton is consolidating a substantial lead over Donald Trump less than a month before Election Day, picking up support from women and swing voters as the Republican navigates growing allegations of unwanted sexual contact, a new Wall Street Journal/NBC News poll finds. http://on.wsj.com/2dZIhdb
– The batteries used in Samsung Electronics’ troubled Galaxy Note 7 were tested by a lab that belongs to the South Korean electronics giant, a practice that sets it apart from other smartphone manufacturers. http://on.wsj.com/2dZJZLF
– The Republican headquarters in Orange County, N.C., was firebombed and sprayed with graffiti overnight, said local officials in the town of Hillsborough. http://on.wsj.com/2dZJvoG
– More senior executives are slated to say they are leaving McDonald’s Corp this week as the burger giant reshapes its leadership team in an apparent effort to revive sales. http://on.wsj.com/2dZLUzA
– Constellation Brands Inc is close to an agreement to sell its Canadian wine business to Ontario Teachers’ Pension Plan in a deal valued at about 1 billion Canadian dollars ($760 million. http://on.wsj.com/2dZMldn
– A global pact to limit planet-warming emissions is likely to force manufacturers of air conditioners and refrigerators to consider passing the additional cost of alternative coolants to consumers. http://on.wsj.com/2dZIXiJ
FT
– German energy storage start-up Sonnen has raised $85 million in its fourth fundraising round, securing investments from Envision Energy and Thomas Putter, former chairman of Allianz Capital Partners.
-The world’s second-largest asset manager, Vanguard, cut expense ratios on five of its Hong Kong ETFs by up to 18 basis points, thereby reducing annual fees to between 18 and 35 basis points from the previous 25 to 45 basis points.
– EU leaders are set to discuss on the basis of intelligence findings on whether Russia is interfering with European politics. EU diplomats said due to growing anxiety of Russian support for far-right and populist movements, “several” countries had stepped up scrutiny of possible links with Moscow.
– The Serious Fraud Office has stepped up the probe into whether senior bankers allegedly ordered the lowballing of Libor at Barclays Plc. The SFO is questioning former and senior managers of Barclays in a probe to examine if the bank submitted low Libor rates, which would have made it look healthier than it really was.
NYT
– Wells Fargo & Co disclosed on Friday that new account openings had taken a nose-dive since the scandal over illegal activity at the bank erupted: Bank executives said customers opened 25 percent fewer checking accounts and applied for 20 percent fewer credit cards in September compared with a year ago. http://nyti.ms/2dXb1k6
– Peter Thiel, the only prominent supporter of Republican presidential nominee Donald Trump in the high-tech community, is making his first donation in support of Trump’s election. He will give $1.25 million through a combination of super PAC donations and funds given directly to the campaign, a person close to the investor said on Saturday. http://nyti.ms/2dZxaB0
– It is going to be expensive to pull America’s largest territory out of its death spiral, Puerto Rico’s outgoing governor warned on Friday. The island will “need the assistance of the federal government to bring this economic and humanitarian crisis to an end,” said governor Alejandro García Padilla, addressing the panel that the Obama administration set up to handle the territory’s staggering debt. http://nyti.ms/2dUX597
Canada
THE GLOBE AND MAIL
** Canada’s housing agency is raising the alarm over the country’s real estate sector, warning about a strong risk of problems on the horizon. (http://bit.ly/2dVsnwR)
** The regulatory colleges that oversee doctors and pharmacists in British Columbia are planning to tell their members that pharmacists can distribute the abortion pill directly to women, despite Health Canada guidance that says only physicians should hand out medication that ends a pregnancy. (http://bit.ly/2dVrxzY)
NATIONAL POST
** Workers at FCA Canada Inc have voted 70.1 per cent in favour of a new four-year labour contract that will invest $331.4 million in upgrading the Canadian plants. (http://bit.ly/2dVrsfS)
** Ontario Power Generation has reworked one of its advertisements about its coal-free electricity production, after pressure from the body that regulates advertising in Canada. (http://bit.ly/2dVqbVX)
Britain
The Times
– Britain’s biggest supermarkets have been accused of treating suppliers unfairly by demanding savings when the pound was strong but refusing to share the burden of higher costs now that sterling has collapsed. http://bit.ly/2e9qRsp
– Software company Misys <IPO-MISY.L> is set to cut the value of its flotation in another sign of market uncertainty after the European Union referendum. Misys had been targeting 4.5 billion pounds, but Vista Equity Partners, its American private equity owner, is expected to reduce the price by up to 30 percent when it announces details of the offer as early as this week. http://bit.ly/2e9rXVp
The Guardian
– UK Prime Minister Theresa May is flying to India next month for her first bilateral trip outside the EU since becoming prime minister, with her reception there seen as a key test of her ability to win backing for the UK’s future trading environment. http://bit.ly/2e9rcvb
– The drive to put Greece back on the road to recovery intensifies this week when auditors representing the indebted country’s creditors arrive in Athens for their latest review of the Greek economy. Representatives of the EU and the International Monetary Fund fly in on Monday to review progress on economic reforms promised by the government in exchange for rescue funds. http://bit.ly/2e9tgn3
The Telegraph
– ECB’s first chief economist Otmar Issing has warned that the European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form and that “One day, the house of cards will collapse”. http://bit.ly/2e9uSNx
– William Hill plans to continue talks over a multi-billion pound merger with Canadian online poker giant Amaya in defiance of opposition from its largest shareholder. http://bit.ly/2e9usXF
Sky News
– Perfume maker Coty, which has just completed the $12.5 billion purchase of Procter & Gamble’s specialist beauty business, is in advanced talks to buy GHD for 400 million pounds. http://bit.ly/2e9s1UW
The Independent
– The UK government has been accused of subsidising “dirty diesel” at the expense of the new wave of “clean tech” energy projects as the MPs’ Energy and Climate Change Committee issued its last report before disbanding. http://ind.pn/2e9uYoz
via http://ift.tt/2eaK5xS Tyler Durden