- Trump shapes White House, hires establishment figure, firebrand (Reuters)
- The Trump Effect: Rout in Global Bonds and Emerging Markets Intensifies (BBG); Government Bond Rout Deepens (WSJ); Dollar soars as U.S. yields spike; global shares divided (Reuters)
- Oil pinned near three-month lows as gloom grows over OPEC (Reuters)
- Thin Rank of Donors May Contend for Top Posts (WSJ)
- Trump’s Election Upends Agenda for Obama’s Last Foreign Trip (BBG)
- Britain building contacts with President-elect Trump: PM’s spokeswoman (Reuters)
- How Trump’s Plans Could Be Stymied by Fiscal Hawks (BBG)
- China’s Xi tells Trump cooperation is only choice (Reuters)
- China Pumps the Brakes on U.S. Dealmaking After Trump Win (BBG)
- China October crude oil output drops to lowest since May 2009 (Reuters)
- ‘Utter devastation’ after major quake, aftershocks hit New Zealand (Reuters)
- Double tectonic shifts may have teamed in New Zealand quake (Reuters)
- Election over, Congress pivots to lame-duck debate over spending (Reuters)
- Where Have All the Activists Gone? Down-Market (WSJ)
- UniCredit, SocGen decline to comment on merger rumor (Reuters)
- The end of the era of central bank independence (FT)
- American Apparel files for second bankruptcy in just over a year (Reuters)
- U.S. Two-Year Yield Tops 1%; Pimco Says Rates May Be Bottoming (BBG)
- Sterling slips back below $1.25 as dollar rallies (Reuters)
- Goldman Sees the Possibility of Stagflation Under Trump Presidency (BBG)
- Saudi central bank: hopes money rates to keep falling, not worried by U.S. (Reuters)
- It’s Not Just Deutsche Bank; German Banking Gloom in Charts (BBG)
- Global Warming Nears Tipping Point (BBG)
- Federal Reserve’s vice-chair readies markets for rate rise (FT)
- Samsung to buy car tech firm Harman for $8 billion, South Korea’s biggest overseas deal (Reuters)
- Siemens to buy Mentor Graphics in $4.5 billion deal (Reuters)
- One Less Haven for Investors as Trump Damages Denmark’s Appeal (BBG)
- Trudeau Clears Path for Canada to Approve Kinder Morgan Pipeline (BBG)
Overnight Media Digest
WSJ
– President-elect Donald Trump named Republican National Committee Chairman Reince Priebus as his chief of staff, a selection that suggests the Republican is interested in a more conventional approach to governing after his insurgent campaign. http://on.wsj.com/2f6vPnb
– Central-bank moves are pulling down returns for government-run funds, making it difficult to meet mounting obligations to workers and retirees. Low rates are exacerbating existing cash problems. http://on.wsj.com/2eRYtHR
– The presidency of Donald Trump is poised to usher in a new era for the U.S. economy that forecasters say could boost economic growth, bring higher interest rates and inflation, and a new set of potential risks including international trade wars. http://on.wsj.com/2ev9GCP
– Iraqi troops pushed deeper into the country’s second largest city on Sunday, securing densely populated areas as commanders said Islamic State resistance began to buckle. http://on.wsj.com/2foY7wa
– As the battle for control of the $40 billion media empire spanning Viacom Inc and CBS Corp was escalating over the summer, the 30-year-old grandson of controlling shareholder Sumner Redstone secretly reached out to Viacom’s embattled chief executive, Philippe Dauman, to begin settlement talks. http://on.wsj.com/2fNSXXq
– Orange County, Southern California’s cradle of conservatism, voted for Hillary Clinton, the first time the county supported a Democratic presidential candidate since 1936 and signaling the state is now a political outlier. http://on.wsj.com/2fofE7R
– The fund that manages Alaska’s oil royalties made $300 million with a bet on rental homes, part of a drive to diversify investments that has helped offset the blow to revenue caused by the falling price of crude. http://on.wsj.com/2fQmbqk
– Shareholders are set to vote Tuesday on a $1.2 billion deal for AMC Entertainment Holdings Inc to acquire Carmike Cinemas Inc. If that is cleared, and combined with AMC’s $650 million purchase of Europe’s Odeon & UCI Cinemas, AMC’s theatrical footprint would expand to about 900 locations, from about 388. http://on.wsj.com/2fp2kjj
– Volkswagen AG and its Audi AG luxury unit on Saturday confirmed that U.S. and European investigators are looking into fresh irregularities related to carbon dioxide emissions levels in certain Audi automatic-transmission vehicles. http://on.wsj.com/2fMpEVa
FT
Volkswagen AG confirmed over the weekend that US and European regulators have been investigating emissions irregularities in petrol-engine cars made by Audi, its luxury unit.
Rolls-Royce Holdings Plc profits would have been more than 700 million pounds lower last year if lucrative revenues from long-term service contracts had not been pulled forward, management is expected to tell shareholders this week.
Lars Andersson, the dealmaker who helped Morgan Stanley earn up to $120 million for advising the U.S. agribusiness Monsanto Co on its $66 billion sale to Germany’s Bayer AG in September, is leaving the U.S. investment bank Morgan Stanley to launch a new boutique advisory firm.
Tesco Bank ignored warning signs that its vulnerable software was being targeted by cyber criminals for months before thousands of its customers had money stolen a week ago, according to internet security experts
NYT
– President-elect Donald Trump on Sunday chose Reince Priebus, the chairman of the Republican National Committee and a loyal campaign adviser, to be his White House chief of staff. nyti.ms/2fQMSeA
– Trump appeared to soften some of his hardest-line campaign positions on immigration on Sunday, but he also restated his pledge to roll back abortion rights. nyti.ms/2fQQVaW
– A powerful earthquake measuring 7.8 magnitude hit the east coast of New Zealand’s South Island early Monday, causing tsunami waves and killing at least two people. nyti.ms/2fQRUrq
– A penetrating silence enveloped Paris on Sunday morning as thousands of people across the city gathered for the anniversary of the deadliest terrorist attacks in France’s postwar history. nyti.ms/2fQNEs
– The town of Mountain View, Google Inc’s home, is looking to increase its housing stock by as much as 50 percent – including as many as 10,000 units in the area around Google’s main campus. (nyti.ms/2fQP7hV)
– There is talk of Breitbart bureaus opening in Paris, Berlin and Cairo, spots where the populist right is on the rise, and a bigger newsroom is also expected in Washington. nyti.ms/2fQTuJX
– Chelsea Manning has formally petitioned President Barack Obama to reduce the remainder of her 35-year sentence to the more than six years she has already served. nyti.ms/2fQTbPe
Canada
THE GLOBE AND MAIL
** Rogers Communications Inc says it will cut down on the frustration of waiting for the cable guy by letting customers track their technician’s location in real time as a service van makes its way to their home. The new service will be launched on Monday in Hamilton, Ontario. https://tgam.ca/2eSnOkR
** Prime Minister Justin Trudeau and some of his senior cabinet ministers will spend Monday behind closed doors at Toronto’s Shangri-La hotel, pitching investors on why they should park their billions in Canada. https://tgam.ca/2eSq8Z6
** Canadian security experts are increasing their vigilance against activists’ threats to the country’s energy infrastructure, as civil-liberties advocates worry about the use of improper surveillance on peaceful opponents to major projects. https://tgam.ca/2eSqcIe
NATIONAL POST
** Canadian doctors are increasingly medicating children with antidepressants and antipsychotics, suggests a new study. Experts worry this is the latest sign of using drugs to achieve “behavioural control”. http://natpo.st/2eSkPcd
** Quebec’s provincial Liberal Party has a reputation as a disciplined election-winning machine. But after holding power for 11 of the last 13 years, there are growing signs of decay in the party of Premier Philippe Couillard. http://natpo.st/2eSqUFr
Britain
The Times
The former high court judge who will oversee RBS’s compensation scheme for thousands of companies mistreated by its restructuring unit was misled by the bank in a court case over a business dispute. http://bit.ly/2fQ9ifQ
The former finance director of Autonomy has been indicted in America over claims he worked with others to deceive Hewlett Packard and investors ahead of its $11 billion sale. http://bit.ly/2fQfeWl
The Guardian
GlaxoSmithKline has come top of a league table that monitors the availability of medicine in developing countries, with fellow UK drugmaker AstraZeneca making it into the top 10. http://bit.ly/2fQ9Kei
The chairman of Royal Bank of Scotland has warned that banks could pull operations out of Britain unless Theresa May draws up transitional arrangements for the country’s exit from the EU. http://bit.ly/2fQ9Z9c
The Telegraph
Dominic Chappell, the former owner of BHS, has been arrested for unpaid bills, it emerged, on the eve of a High Court deadline for him to provide evidence about why 6 million pounds is missing from BHS’s balance sheet. http://bit.ly/2fQcCri
Nissan Motor Co Ltd and other big Japanese manufacturers can only work in the UK if they are free to import parts from the EU, the country’s ambassador said, warning the government not to slap taxes on the trade post-Brexit. http://bit.ly/2fQfTqR
Sky News
The former chairman of ARM Holdings, the British chip designer sold this year in a 24 billion pound deal, is making a rapid return to the technology sector with a new role at Ve Interactive, a fast-growing software company. http://bit.ly/2fQj8yv
Energy firms have been accused of making “six times” the profit they admit to publicly , following an investigation into their finances. The claims are based on a report for Energy UK, which represents power firms, by respected accountancy firm PWC, according to the Sun newspaper. http://bit.ly/2fQfwMS
The Independent
The former bankrupt who bought BHS from Sir Philip Green for a pound has been reportedly arrested over unpaid tax. Dominic Chappell, 49, is alleged to have been arrested by HM Revenue & Customs (HMRC) for failing to pay more than 500,000 pounds in tax on money from the doomed department store chain. http://ind.pn/2fQjx43
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