- Florida Once Again a Focus in 2016 Campaign (WSJ)
- Trump Has Slim Edge in Bloomberg Poll of Florida (BBG)
- NATO seeks troops to deter Russia on eastern flank (Reuters)
- Arbs Stay on Sidelines of AT&T-Time Warner Deal (WSJ)
- Holiday Forecast for Apple Crumbles (BBG)
- Saudi Arabia Faces Tough OPEC Equation With Mounting ‘Exemptions’ (BBG)
- Oil Companies Shift Exploration Tactics, Curb Spending (WSJ)
- The SEC’s Beef With Shadow Banks Could Hurt Some Businesses (BBG)
- Calais Jungle clearance resumes, tents and shelters ablaze (Reuters)
- African Terror Franchise Now Has Competition From Islamic State (WSJ)
- Empty Space Haunts 5th Avenue as Retailers Balk at Rent Hikes (BBG)
- Inside the battle to succeed supreme leader Khamenei (FT)
- Delta Creates a Class Higher Than First Class (BBG)
- Apple Pins Hopes on iPhone 7 as Profit, Revenue Decline (WSJ)
- China to carry out more military drills in South China Sea (Reuters)
- Philippines’ Duterte tells Japan his China visit was just economics, blasts U.S (Reuters)
- Tata Group in Turmoil After Chairman’s ‘Bizarre’ Ousting (BBG)
- Ousted Tata Chief Says Group Faces $18 Billion in Writedowns (BBG)
- Pope Francis the manager – surprising, secretive, shrewd (Reuters)
- Goldman Hopes You Won’t Notice How Many People It’s Laying Off (BBG)
- Clouds gather in rooftop solar’s biggest U.S. market (Reuters)
- Meet the Japanese Tech Billionaire Who Says He Can Do No Wrong (BBG)
- London House Prices Forecast to Plunge as Brexit Chokes Market (BBG)
Overnight Media Digest
WSJ
– Volkswagen AG received final approval of a $14.7 billion deal reached with consumers and government agencies that could get nearly half a million diesel vehicles off U.S. roads. http://on.wsj.com/2e86OaJ
– Facebook Inc COO Sheryl Sandberg said Facebook is a technology company that builds tools rather than a media company that makes its own stories. http://on.wsj.com/2eJ7HId
– AT&T Inc will launch a $35-a-month “mobile-centric” video service, CEO Randall Stephenson said, calling it an example of how prices won’t rise with the carrier’s $85.4 billion deal to buy Time Warner Inc. http://on.wsj.com/2eGmC6M
– General Motors Co is enlisting digital smarts from International Business Machines Corp’s Watson in an effort to leapfrog other tech companies inside the car. http://on.wsj.com/2f5kkRq
– Media mogul Sumner Redstone has sued two former companions, alleging they abused him, took more than $150 million and left him in debt. http://on.wsj.com/2eQsqJK
– National Intelligence director James Clapper said it appeared that a “nonstate actor” was behind a massive cyberattack last week that briefly blocked access to websites including Twitter Inc and Netflix Inc. http://on.wsj.com/2eDmqGP
– The UK said it would deploy tanks and drones alongside 800 troops in Eastern Europe, the first of several expected moves by NATO to help counter growing fears about Russia in the region. http://on.wsj.com/2dUjZ1h
FT
– Lockheed Martin said it expects a 7 percent rise in net sales next year. It was the biggest gainer on the S&P 500 and among industrials on Tuesday.
– Tension between Brussels and Italy over the country’s 2017 budget escalated on Tuesday after the European Commission imposed a 48-hour deadline on Rome to explain why it was breaking previous fiscal agreements.
– Ireland has now pitched to host the European banking Authority. The country, which suffered a bad banking crisis, is the latest in the rush to take over London-based EU institutions.
– The BBC’s next chief will be paid 10,000 pounds lesser than the predecessor, the UK government announced. The new chair will serve a fixed term of four years and will be extended only in “exceptional circumstances”.
NYT
– Three judges at Washington’s federal appeals court on Monday questioned the government’s analysis that led to MetLife’s designation as a “too big to fail” financial company, as the Justice Department appeals a lower court’s decision to strip the insurance giant of that label. http://nyti.ms/2dExRy9
– TD Ameritrade announced on Monday that it would acquire Scottrade Financial Services, a rival discount brokerage, for $4 billion, in a bid for scale at a time when small investors are losing their taste for stock trading. http://nyti.ms/2dEyI1X
– The New York Times has made another bet on so-called service journalism, with the acquisition of the product recommendation site the Wirecutter and its sibling, the Sweethome. The all-cash transaction, worth slightly more than $30 million, closed on Monday. http://nyti.ms/2dEzxI1
– In a surprise move on Monday, the German authorities withdrew approval for the takeover of Aixtron SE, a domestic semiconductor firm, by a Chinese bidder – a deal that was set to be an emblem of a new push by Chinese companies to acquire cutting-edge technology businesses and a sign of Berlin’s tolerance for such moves. http://nyti.ms/2dEwteW
Canada
THE GLOBE AND MAIL
** The proportion of Metro Vancouver homes left vacant or not used as a primary residence has almost doubled since 2001, a time when the region’s residential real estate sector increasingly became a magnet for both local and foreign investors, according to a new study based on 30 years of census data. http://bit.ly/2eFsjQX
** Three divisions of Canadian Imperial Bank of Commerce have reached a settlement deal with the Ontario Securities Commission after revealing they overcharged fees to clients for up to 14 years. http://bit.ly/2eR8SVF
** Prime Minister Justin Trudeau says financial donation limits in federal politics are too low for wealthy donors to buy influence with his cabinet ministers. http://bit.ly/2eEz2xp
NATIONAL POST
** Cord cutting took a bigger bite out of Canada’s broadcast industry last year as younger audiences increasingly listened to music and watched television over the Internet, according to the federal broadcast regulator. http://bit.ly/2eR7jqZ
** The use of short-term payday loans – where charges in some provinces can be equivalent to an annual percentage rate of 500 per cent – has doubled recently to include 4 percent of Canadian households, according to the Financial Consumer Agency of Canada.
The survey of 1,500 payday loan users showed that many Canadians are unaware of the high cost compared to alternative sources of funds. http://bit.ly/2dVFYF0
Britain
The Times
Heathrow is drawing up plans to build its new runway at least eight metres above Britain’s busiest motorway amid warnings of gridlocked roads and a 3.5 billion pounds bill for the taxpayer. http://bit.ly/2fdxfjE
Royal Bank of Scotland Group Plc could be on course to finally sell its Williams & Glyn business ahead of a deadline that could lead to Brussels imposing draconian penalties on the taxpayer-backed lender over its failure to offload the unit. http://bit.ly/2fdvS4r
The Guardian
Hancock Prospecting, controlled by Australia’s richest woman Gina Rinehart, signed a 245 million pound deal with Sirius Minerals Plc. http://bit.ly/2fdBI5y
A transatlantic British Airways flight from San Francisco to London made an emergency landing in Vancouver after crew members fell ill. All 25 staff, including the three pilots, were taken to hospital for medical checks after landing, a BA spokeswoman said, adding all personnel had been discharged. http://bit.ly/2fdzeUL
The Telegraph
Vodafone Group Plc is braced for a multi-million pound fine from the industry regulator after an 18-month double-probe into its suspected customer failings. http://bit.ly/2fdAffN
3i Group Plc has decided to sell its debt management business to Investcorp for 222 million pounds, leaving the firm to work on its private equity and infrastructure investments. http://bit.ly/2fdAjvW
Sky News
A U.S. court has approved Volkswagen AG’s $15 billion settlement package for almost half a million customers in America over the diesel emissions scandal. http://bit.ly/2fdzO51
Department store chain John Lewis has appointed Paula Nickolds as its first female managing director. http://bit.ly/2fdFagI
The Independent
Theresa May warned of the economic peril of leaving the EU during a meeting with investment bankers just weeks before the Brexit vote, in an audio recording leaked to the Guardian. http://ind.pn/2fdAnff
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