- Berlin market attack suspect killed in Italy (Reuters)
- Tunisian Suspect Had a History of Criminal Activity, Extremism (WSJ)
- Hijacked Libyan plane lands in Malta with 118 on board (Reuters)
- Deutsche Bank, Credit Suisse Settle U.S. Probes as Barclays Sued (BBG)
- Italy Sets Up Fund to Help Troubled Banks (WSJ)
- Europe Stocks Halt Drop as Italian Aid Lifts Bonds: Markets Wrap (BBG)
- Dollar inches lower into Christmas lull (Reuters)
- Syrian rebels shell Aleppo after withdrawal (Reuters)
- President Xi Open to Growth in China Falling Below 6.5% (BBG)
- Trump’s Senior White House Staff Takes Shape (WSJ)
- Bitcoin Surges Above $900 on Geopolitical Risks, Fed Tightening (BBG)
- Putin Says He Knew Donald Trump Would Win (BBG)
- China fines GM venture $29 million for monopolistic pricing: state TV (Reuters)
- On Nov. 9, Hillary Clinton Voters Ate Their Grief (BBG)
- Giant Hedge Fund Builds a Management Machine (WSJ)
- Under fire, Eric Trump suspends charitable foundation (Reuters)
- 2016 Was Awful for Brazilians and 2017 Doesn’t Look Much Better (BBG)
Overnight Media Digest
WSJ
– The U.S. government struck a $7.2 billion settlement with Deutsche Bank over toxic securities, while separately filing a lawsuit against Barclays Plc alleging more than $30 billion in fraud-tainted sales. http://on.wsj.com/2hxmHsY
– Italy’s government has set up a backstop fund to shore up troubled banks, setting the stage for the rescue of troubled Italian lender Banca Monte dei Paschi di Siena SpA. http://on.wsj.com/2hxjGJd
– Federal investigators are asking questions about a billionaire New York hedge-fund manager and a Bermuda reinsurer as they examine the alleged fraud by hedge fund Platinum Partner. http://on.wsj.com/2hxnHx7
– Bridgewater Associates LP, the world’s largest hedge-fund firm, wants day-to-day management including hiring, firing and decision-making to be guided by software that doles out instructions. The project is the latest bid by founder Ray Dalio to perpetuate his unorthodox philosophy. http://on.wsj.com/2hxmQN2
– Incoming U.S. President Donald Trump rounded out his senior White House team, elevating a set of trusted advisers who helped engineer his surprise election victory and bringing some of the rhythms and spirit of his unconventional campaign into the government he will soon lead. http://on.wsj.com/2hxjz0e
– Uber Technologies Inc is moving a test of its self-driving cars to the friendlier environs of Arizona after suffering a regulatory defeat in California over its use of the vehicles in San Francisco. http://on.wsj.com/2hxk0rg
– Brazilian construction giant Odebrecht’s admission to U.S. prosecutors that it paid hundreds of millions of dollars in bribes to win lucrative infrastructure contracts is reverberating across Latin America, sparking a political crisis. http://on.wsj.com/2hxdKQx
– Beijing is considering retaliatory steps after Trump appointed China trade skeptic Peter Navarro to head American trade and industrial policy. http://on.wsj.com/2hxomPr
– Ivory Coast in October became Africa’s fastest-growing economy, a sharp reversal from 2011, when a bloody civil war left 3,000 people dead. http://on.wsj.com/2hxjIR6
FT
– Unite called off a Christmas strike action suspending a planned walkout by some British Airways cabin crew after new proposals from management.
– The Italian government approved Monte dei Paschi di Siena’s bailout, led by prime minister Paolo Gentiloni. State rescue of the country’s third largest bank, saddled by non-performing loans, became necessary after it failed to raise enough capital in the wake of European-wide stress tests.
– Prison guards were working to control a disturbance involving 60 inmates at HMP Swaleside on the Isle of Sheppey in Kent. Prisoners had taken control of a landing on a wing at the category B prison.
– Federal prosecutors sued Barclays and two of its executives over fraudulent mortgage-backed securities the bank issued as the US housing bubble was at its peak. The suit claims the bank “securitised billions of dollars of loans it knew had material defects” and financed lenders that it knew were issuing mortgages to customers who would be unable to repay them.
NYT
– Deutsche Bank announced late on Thursday that it had reached a tentative $7.2 billion deal to resolve a federal investigation into its sale of toxic mortgage securities, capping months of negotiations that weighed heavily on the bank’s stock price and reputation. http://nyti.ms/2hf0tOK
– United States authorities have accused British bank Barclays Plc and two former executives of fraudulently misleading the public in the sale of tens of billions of dollars in securities backed by home mortgages. http://nyti.ms/2hf2mer
– President-elect Donald Trump’s latest missive on military spending suggests that Boeing Co has perhaps swayed him more than its rival Lockheed Martin Corp. Now, he is preparing to pit one off the other to try to decrease the cost of new fighter jets, military analysts said on Thursday. http://nyti.ms/2heUwkR
– Ikea has reached a tentative settlement to pay $50 million to three American families whose young children were killed after the Swedish furniture company’s furniture fell on them, lawyers for the families said. http://nyti.ms/2heUEAR
– The United States economy grew at an annual rate of 3.5 percent in the third quarter, its fastest pace in two years and more than the government had previously estimated. The growth spurt, however, is not expected to last, as consumers and businesses pull back. http://nyti.ms/2heXeqC
Canada
THE GLOBE AND MAIL
** A Canadian-developed vaccine for the Ebola virus has proven to be extremely effective in a full-scale clinical trial, opening the possibility that future outbreaks of the disease can be successfully contained. https://tgam.ca/2h8OVJt
** New Brunswick has broken ranks with other provinces and territories to strike a bilateral agreement on health funding with Ottawa, a move that angered other provincial ministers who had rejected what the federal government put on the table earlier this week. https://tgam.ca/2imRd93
** A majority of Canadians support the key planks in Prime Minister Justin Trudeau’s energy and climate plan – approving a controversial oil pipeline and imposing a carbon tax to reduce greenhouse gas emissions, a poll from Nanos Research Group says. https://tgam.ca/2h8LthU
NATIONAL POST
** Indie telecommunications providers say the federal telecom regulator’s landmark decision to classify high-speed internet a basic service will inject competition into the ecosystem – and ultimately lower prices and improve speeds for consumers. http://bit.ly/2hZBuxs
** A former Ontario premier, a current member of parliament, and an ex-Alberta cabinet minister are among those advising businessman and reality TV personality Kevin O’Leary on whether to launch a Conservative leadership bid, according to a member of his “exploratory committee.” http://bit.ly/2hinjGH
Britain
The Times
– Bank of England Governor Mark Carney faces a bruising showdown with a group of influential MPs when an investigation into the Bank of England’s use of monetary policy since the financial crisis is launched. http://bit.ly/2i0pNcn
– Barclays is being sued by the U.S. Department of Justice for alleged fraud over the sale of mortgage-backed securities before the financial crisis. http://bit.ly/2hYfanZ
The Guardian
– British Prime Minister Theresa May must explain why it took so long for the government to establish that British-made cluster bombs banned by an international treaty were dropped by Saudi Arabia in Yemen, opposition leader Jeremy Corbyn has said. http://bit.ly/2i0fkh6
– Fingerprints found inside the cabin of the truck that ploughed into a Berlin Christmas market match those of the fugitive suspect Anis Amri, Germany’s federal prosecutor’s office confirmed on Thursday night. http://bit.ly/2hgp7A7
The Telegraph
– Italy’s ministers were in emergency session on Thursday night to thrash out the rescue terms for Banca Monte dei Paschi di Siena, finally ending a financial soap opera that has dragged on for years and done enormous damage to the country. http://bit.ly/2ilcijW
Sky News
– Planned strikes by British Airways cabin crew on Christmas Day and Boxing Day have been cancelled. http://bit.ly/2i71dUG
– London Underground workers are to stage a 24-hour strike over pay from 6 p.m. on Jan. 8, according to RMT and TSSA unions.
The Independent
– Prince Charles has issued a warning over the “rise of populism” in a veiled apparent reference to the election of Donald Trump and increasingly hostile attitudes towards refugees in Europe. http://ind.pn/2h53UnT
– British Ministers of Parliament are considering a push for longer working hours for MPs next year, to give enough time to pass Brexit legislation in line with Theresa May’s schedule. http://ind.pn/2hWTXe3
via http://ift.tt/2hPvE3S Tyler Durden