- A year in: U.S. stock market under Trump’s shadow (Reuters)
- Democrats’ Wins in Virginia, New Jersey Fan Hopes for Anti-Trump Momentum (WSJ)
- New York Gives De Blasio a Second Chance, Re-Electing Him as Mayor (BBG)
- Democrat Wins New Jersey Governor’s Race as Voters Pan Christie, Trump (BBG)
- Trump Starts China Visit Seeking Progress on Trade and North Korea (BBG)
- China’s Xi fetes Trump on first day of Beijing trip(Reuters)
- China October exports, imports growth slow as economy cools (Reuters)
- The House Tax Cut: Who Gets What (BBG)
- Here’s Where the GOP Tax Bill Stands Right Now (BBG)
- IMF’s Lagarde warns protectionism, while now just words, may come to hurt Asia (Reuters)
- Streaming Dreams Drove Disney’s Interest in Fox Assets (WSJ)
- China’s Tencent buys 12 percent stake in Snapchat owner (Reuters)
- Gun-Record Lapses Under Scrutiny After Texas Shooting (WSJ)
- Carl Icahn’s $5 Billion Bet on the Future of Car (BBG)
- Apple to Ramp Up Work on Augmented Reality Headset (BBG)
- Catalan leader’s farmhouse pact to make last stand in Brussels (Reuters)
- These Companies Have Added $1.5 Trillion Since Last Election Day (BBG)
- Wall Street Is Fighting a CFPB Deal Over Billions in Defaulted Student Loans (BBG)
- UCLA basketball players arrested in China ahead of Trump’s visit: reports (Reuters)
Overnight Media Digest
WSJ
– Toyota Motor Corp on Tuesday raised its profit projections for the year ending March 31, saying it could boost sales and rein in costs, but the U.S. market continues to weigh on earnings. on.wsj.com/2Asj9C8
– Investors in Outcome Health on Tuesday sued the Chicago advertising startup and its two founders, claiming fraud and breach of contract some eight months after investing nearly $500 million in the company. on.wsj.com/2AseqQM
– Private-equity firm Blackstone Group LP is planning to sell its majority stake in a Chinese maker of medical devices, according to people familiar with the situation, as it tries to exit an investment made just three years ago. on.wsj.com/2AsfbcA
– The Saudi government is aiming to confiscate cash and other assets worth as much as $800 billion in its broadening crackdown on alleged corruption among the kingdom’s elite, according to people familiar with the matter. on.wsj.com/2AsfRPa
– U.S. President Donald Trump opened a door to negotiations with North Korea, shifting his tone while the U.S. Navy prepared for a rare display of strength nearby. Trump urged North Korean leader Kim Jong Un to talk. on.wsj.com/2AttduK
– Chinese e-commerce company JD.com Inc plans to import $2 billion worth of U.S. beef and other food products, a person familiar with the matter said, in one of number of agreements tied to U.S. President Donald Trump’s China summit. on.wsj.com/2AqPyJb
FT
* British broadcaster Sky Plc has said that it could shut down Sky News if its ownership of the channel proves to be an obstruction to the proposed 11.7-billion-pound ($15.41 billion) takeover of the European pay-television operator by Rupert Murdoch’s Twenty-First Century Fox.
* Alphabet Inc’s Waymo will launch a ride-hailing service with no human behind the steering wheel and has been testing the fully self-driving cars on public roads in Arizona, Chief Executive John Krafcik said on Tuesday.
* William Ackman lost the bid for three board seats on Automatic Data Processing Inc on Tuesday, the latest in a string of public defeats for Ackman, who raised $500 million from investors to take a stake in ADP.
NYT
– Syria announced during United Nations climate talks on Tuesday that it would sign the Paris agreement on climate change. The move, which comes on the heels of Nicaragua signing the accord last month, will leave the United States as the only country that has rejected the global pact. nyti.ms/2iD4HiN
– On Tuesday, Snap Inc reported revenue for the third quarter that missed Wall Street expectations and also posted a larger-than-expected loss, as well as high costs. In the aftermath, its stock plunged about 20 percent in after-hours trading but recovered slightly. nyti.ms/2iCAcsY
– Jarl Mohn, the chief executive of National Public Radio, said on Tuesday that he would take a leave of absence because of health problems. His decision came at a time when the public radio network is grappling with the aftershocks of a sexual harassment scandal. nyti.ms/2iEy2cG
– Sina Corp, the Chinese internet company, won a proxy fight against American hedge fund Aristeia Capital last week. On Tuesday, it doubled down to avoid further challenges from activist investors. nyti.ms/2iDgmhn
– Activist investor William Ackman suffered a stinging rebuke on Tuesday, failing in his campaign to shake up the board of Automatic Data Processing Inc, the $50 billion payroll-processing firm. nyti.ms/2iDgjlH
Canada
THE GLOBE AND MAIL
** Russia says it has blacklisted dozens of “Canadian political actors pursuing a toxic Russophobic agenda” in retaliation for Canada’s decision to sanction 30 Russian officials, but refuses to say who is on that list. tgam.ca/2hf0Lo7
** Ontario is opening up some of its regulations to give financial startups more opportunities to test new products and services by creating a “regulatory super sandbox”, which is a set of rules that exempts firms from some requirements so they can experiment with new business models and products. tgam.ca/2hdYgSG
** Members of Vancouver’s development industry were aghast on Tuesday at a rare decision by the city’s top bureaucrats to reject the application for a controversial building in Chinatown that complied with zoning and had been green-lighted by three levels of city administration. tgam.ca/2hdUusQ
NATIONAL POST
** Chevron Corp is ramping up spending in the Duvernay shale basin, after spending three years exploring its potential. “The Duvernay is one of the most prospective liquids-rich shale plays in North America,” Chevron Canada President Jeff Gustavson said. bit.ly/2hf1SnK
** The U.S. Congress has been mulling changes in the way American individuals abroad are taxed by shifting from a citizen-based income-tax system to a residence-based system that would only tax people on the income they earn in the United States. Americans abroad would no longer be taxed on worldwide income simply because they are U.S. citizens; they would only have to pay tax to the country where they live. bit.ly/2he1eXk
Britain
The Times
British utility SSE Plc and German company Innogy SE’s British retail subsidiary Npower are in talks to spin off their energy supply businesses and combine them into a new independent utility giant, in a radical shake-up of the UK market. bit.ly/2ArOqVW
Professionals provided for free by City firms to Royal Bank of Scotland Group Plc’s restructuring unit abused their position by passing confidential information back to their parent companies, The Times reported. bit.ly/2Aqg19U
The Guardian
The Institute for Fiscal Studies, a tax and spending watchdog, said plans for a reduction in tax credits which boost the incomes of low paid workers will take a particularly large toll on households where one or more adults face cuts in hours or lower wages. bit.ly/2j9pqyC
Treasury select committee will examine the debt levels of UK households as well as whether consumers are saving adequately as Britain leaves the European Union. Problem debt and the treatment of low income families by banks will also form part of the inquiry. bit.ly/2j93Bik
The Telegraph
Sky Plc has warned it could close down Sky News if it proves a sticking point with regulators in its 11.7 billion pounds ($15.41 billion) takeover by Murdoch-owned 21st Century Fox. bit.ly/2ApWqqi
Tata Steel Ltd is investing 30 million pounds ($39.51 million)in its Port Talbot steelworks in a move the company says shows its “commitment” to the industry in the UK. bit.ly/2ArFMGL
Sky News
The boards of 250 of Britain’s largest companies will this week be challenged to promote more women to senior leadership roles amid a cacophony of criticism about gender diversity and sexual discrimination in the public and private sectors. bit.ly/2Arz7wo
Former Welsh government minister Carl Sargeant, who was suspended last week amid allegations about incidents with women, has died. bit.ly/2ArTbPi
The Independent
The EU’s competition chief has asked Apple Inc to provide details of its latest tax structure as regulators try to recover 13 billion euros ($15.07 billion)in back taxes to Ireland. ind.pn/2ArhTiJ
via http://ift.tt/2zshcYf Tyler Durden