- Trump, Clinton trade barbed jokes for charity (Reuters)
- Islamic State retaliates as Iraqi forces push on Mosul (Reuters)
- Hedge Fund Managers Struggle to Master Their Miserable New World (BBG)
- Woebegone Stock Pickers Vow: We Shall Return! (WSJ)
- Madonna pledges oral sex for Clinton voters (The Hill)
- AT&T Discussed Idea of Takeover in Time Warner Meetings (BBG)
- U.S. has few good options for response to Philippines’ Duterte (Reuters)
- San Francisco lawsuit, NYC law highlight global risks for Airbnb (Reuters)
- Duterte didn’t really mean ‘separation’ from U.S., Philippine officials say (Reuters)
- China’s property market shows signs of cooling (China Daily)
- A $47 Billion Bid to Create the World’s Largest Tobacco Company (BBG)
- Vatican and China in final push for elusive deal on bishops (Reuters)
- SpaceX Explosion Investigation Focuses on Fueling Snafu (WSJ)
- U.S. mall investors set to lose billions as retail gloom deepens (Reuters)
- Tesla, rivals joust over how to put self-driving cars on the road (Reuters)
Overnight Media Digest
WSJ
– A former National Security Agency contractor amassed at least 500 million pages of government records, including top-secret information about military operations, by stealing documents bit by bit over two decades, the Justice Department alleged in a court filing submitted Thursday. http://on.wsj.com/2edCrov
– Donald Trump, in a rally in Ohio on Thursday, compared his reluctance to accept a possible loss in the presidential election to Democrat Al Gore’s fight over the 2000 presidential election. http://on.wsj.com/2edCWyW
– Iraqi special forces reclaimed a strategically important town from Islamic State on Thursday and joined Kurdish fighters in opening a new front against Islamic State, while the U.S. suffered its first combat death since the start of the Mosul offensive. http://on.wsj.com/2edGFMQ
– A heightened emphasis by banking regulators and law-enforcement officials on financial misconduct may be constraining global growth, some officials warn. http://on.wsj.com/2edE7yh
– A dozen miles off the southwestern edge of Africa’s Atlantic coast, a 285-ton vacuum machine operating 400 feet below sea level is sucking some of the world’s most valuable diamonds from the ocean floor. http://on.wsj.com/2edDy7U
– PayPal announced Thursday that it had struck an agreement with Alibaba Group Holding Ltd. to make PayPal a one-click payment option on the Chinese e-commerce giant’s AliExpress marketplace for consumers. http://on.wsj.com/2edDRPW
– The U.N.’s General Assembly met informally Thursday to discuss whether to take steps to override the Security Council on the Syrian conflict, as the council remains deadlocked over how to bring an end to the bombing of the northern city of Aleppo. http://on.wsj.com/2edEU2t
– Hong Kong was bracing for the impact of Typhoon Haima on Friday, as one of the strongest storms to hit the city this year shut down the stock market and disrupted flights. http://on.wsj.com/2edDKEa
FT
– Roche, the Swiss pharma group, said its group sales were up 4 percent in the nine months to September and its third quarter revenues were up 3 percent. Chief Executive Schwan said that he was confident that the company will meet full year expectations for 2016.
– Britain, Germany and France pushed for new sanctions against Moscow for the bombardment of Aleppo. After “difficult” talks with Vladimir Putin, German Chancellor Angela Merkel said that Russian support for the bombing was “completely inhuman”.
– Sky, in an investor day, said it intends to take a “substantial” share of the crowded UK mobile market. From October 31, existing Sky customers can register for its new mobile service with a full launch taking place in 2017.
– Morgan Stanley is going to make $120 million for the less-than-four-month advice to Monsanto on its $66 billion takeover by Bayer, which is the most a bank has ever collected for selling a company in dealmaking.
NYT
– Nintendo Co Ltd provided the first look at a new console it is developing that will do double-duty as a portable game system outside the home and one that will serve in the traditional role, connected to television sets. http://nyti.ms/2eov914
– In a case that has raised concerns over freedom of speech in Hong Kong’s financial markets, a securities tribunal has issued a trading ban against an American investor who criticized the accounts of a Chinese property developer. The investor, Andrew Left, the founder of the California-based firm Citron Research, was barred on Wednesday from trading in Hong Kong for five years. http://nyti.ms/2eozyOB
– Sequoia says it has hired its first female investment partner in the United States. Jess Lee, 33, an entrepreneur and the former chief executive of Polyvore, a fashion start-up that allowed customers to clip, save, style and shop for clothing online. She begins at Sequoia in November and will be a partner in the firm’s current fund. http://nyti.ms/2du1Vrf
– It has been a bruising year for hedge funds. Big bets have been disastrous, investors have voiced discontent and some managers have been forced to rewrite their playbooks or call it quits. And now, there is new data to rub salt into the industry’s wounds: Over the last three months, investors pulled $28 billion out of hedge funds, according to the research firm Hedge Fund Research. It is the biggest quarterly outflow of dollars since the depths of the financial crisis in 2009. http://nyti.ms/2e6fQH3
Canada
THE GLOBE AND MAIL
** The former parent company of Essar Steel Algoma Inc is teaming up with agriculture and industrial giant Cargill Inc to renew its bid to buy U.S. Steel Canada Inc, sources familiar with the companies’ plans say. http://bit.ly/2dsVUQJ
** Tourmaline Oil Corp is buying northeastern British Columbia natural gas assets from Royal Dutch Shell Plc for C$1.4 billion ($1.06 billion) in cash and stock. http://bit.ly/2dsVNEN
NATIONAL POST
** The Ontario Energy Board has told power companies across the province that they must send customers a hydro bill every month by the end of the year – a change that could cost up to C$10 million ($7.55 million). http://bit.ly/2dsTzoC
** The federal government has appointed four people to consult with communities along the Energy East pipeline after concerns over the integrity of National Energy Board’s hearing process forced three members to step down last month. http://bit.ly/2dsUvtt
Britain
The Times
– Nestle SA, the maker of Kit Kat and Maggi noodles, has cut its forecast for sales growth this year as it struggles with competition and said it could increase prices in the UK. http://bit.ly/2drGAnf
– The trial of three former Tesco Plc executives charged with fraud and false accounting by the Serious Fraud Office has been set for September next year. http://bit.ly/2drIJzt
The Guardian
– A planned Southern rail strike that would have happened close to Remembrance Day has been suspended following a request from the British Legion. The union said it had suspended the strike on Nov. 3 after being contacted by the armed forces charity. http://bit.ly/2drKaha
– The UK’s chief tax man has referred the parcel delivery giant Hermes to HM Revenue and Customs compliance officers following complaints by couriers that they are being paid at levels equivalent to below the “national living wage.” http://bit.ly/2drMgOd
The Telegraph
– Brazilian prosecutors have charged 26 people in connection with the Samarco mine disaster last year which killed 19 people. Of those charged, 21 have been accused of qualified homicide. http://bit.ly/2dtFylR
– British engineering companies Senior Plc and Keller Group Plc lost nearly 18 percent of their market value this morning after issuing downbeat trading updates, warning investors that full-year performance will be lower than they previously thought. http://bit.ly/2dtGkiC
Sky News
– Thousands of Post Office workers are to stage a one-day strike later this month over jobs, pensions and branch closures. Communication Workers Union members will walk out on Oct. 31. http://bit.ly/2drGHzc
– Carlos Ghosn is to be the new chairman of Mitsubishi Motors Corp after Nissan Motors Co Ltd became the scandal-hit brand’s biggest shareholder. http://bit.ly/2drJUPc
The Independent
– Nestle SA said it could follow Unilever Plc and raise prices in the UK to deal with the collapse in the value of the pound. http://ind.pn/2drK1u6
– Three former Tesco Plc executives will stand trial in September next year in relation to the 326 million pounds accounting scandal at Britain’s biggest supermarket. http://ind.pn/2drLuke
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