- Donald Trump’s Tax Numbers Sharpen Focus on Treatment of Losses (WSJ)
- Qatari funds nurse €1bn loss on Deutsche Bank stake (Telegraph)
- Colombian Voters Reject Peace Deal With FARC Rebels (WSJ)
- Hungarians vote to reject migrant quotas, but turnout too low to be valid (Reuters)
- Clinton expected to hit Wells Fargo in speech on ‘bad corporate actors’ (Reuters)
- Henderson’s Shares Rally Most in Seven Years on Janus Deal (BBG)
- Donald Trump Is Handing a Windfall to Mexican Immigrant Families (BBG)
- UK’s Hammond buries idea of extra cuts to corporation tax (Reuters)
- Among Seniors, Clinton Grows More Appealing (WSJ)
- Woman who accused Bill Clinton of sexual misconduct slams Hillary (Hill)
- Bank of England confirms will hold broader bank stress test in 2017 (Reuters)
- Pound Slides on Brexit Angst as Stocks Show Contagion Contained (BBG)
- Oil Prices Rise on OPEC Optimism (WSJ)
- BP Shuts North Sea Platform After Oil Leak (WSJ)
- Fatal police shooting of black man in Los Angeles sparks protest (Reuters)
- Donald Trump’s New DC Hotel Vandalized With ‘Black Lives Matter’ Graffiti (ABC)
- Kim Kardashian West robbed of millions by Paris gunmen (BBG)
- McDonald’s China Franchise Deal Could Fetch Up to $2 Billion Up Front (WSJ)
- Italy government won’t resign whatever outcome of referendum (Reuters)
- Philippines’ Duterte says China, Russia supportive when he complained of U.S. (Reuters)
Overnight Media Digest
WSJ
– TE Connectivity Ltd said President Terrence Curtin will succeed current Chief Executive Tom Lynch, as it looks to sharpen its focus in the sensor and connectivity markets. http://on.wsj.com/2cMxiwM
– BP Plc shut down its Clair platform in the North Sea after an oil leak on Sunday. http://on.wsj.com/2cMtuvD
– Tesla Motors Inc posted its best sales quarter ever as the third-quarter global deliveries of its vehicles more than doubled from a year ago. http://on.wsj.com/2cMsQ1i
– WhiteWave Foods Co shareholders are expected to support a $10.4 billion takeover bid by French diary company Danone SA despite concerns about the deal. http://on.wsj.com/2cMtAU7
– Deutsche Bank AG is continuing its talks with the U.S. Justice Department to settle a set of mortgage-securities cases, with no deal presented for approval on either side. http://on.wsj.com/2cMuujD
FT
Germany’s Deputy Chancellor Sigmar Gabriel accused Deutsche Bank AG on Sunday of blaming speculators for last week’s plunge in its share price when the bank had itself made speculation its business. Gabriel took aim at a memo Chief Executive John Cryan sent to Deutsche staff last week after its shares plunged to 30-year lows. In it, he blamed “forces in the market” that were trying to destabilise the bank.
Prime Minister Theresa May said on Sunday she would trigger the process to leave the European Union by the end of March, offering the first glimpse of a timetable for a divorce that will redefine Britain’s ties with its biggest trading partner.
A group of 60 large investors will file a lawsuit against Tesco Plc in the coming weeks, claiming to have suffered 150 million pounds ($193.95 million) in losses because of accounting irregularities at the British retailer.
Almost all Hungarians who voted in Sunday’s referendum rejected the EU’s migrant quotas but turnout was too low to make the poll valid, scuppering Prime Minister Viktor Orban’s hopes of strengthening his hand at home and in the EU.
NYT
– Tesla Motors Inc said its third-quarter deliveries rose 70 percent to 24,500 cars, following production improvements, cheaper lease deals and reports of discounts on some vehicles. http://nyti.ms/2doaTbT
– Donald Trump racked up losses so huge in the early 1990s that he wouldn’t have had to pay federal or New York State income tax on nearly a billion dollars in income. http://nyti.ms/2docj6y
– When Amazon.com Inc introduced its Echo device in late 2014, Google executives were caught off guard. For years, they had predicted the creation of a virtual assistant that would answer questions or help accomplish tasks, and they focused on building that capability into smartphones and tablets. http://nyti.ms/2dodItu
– Deutsche Bank AG, the giant lender that has made its name not as a home for German savers but as a place for hedge funds and other risk-loving investors to put on some of their boldest financial bets. And that is why its swooning stock price last week set off alarm bells in finance ministries, central bank suites and trading floors from Hong Kong to New York. http://nyti.ms/2doewyw
Canada
THE GLOBE AND MAIL
** Finance Minister Bill Morneau will unveil on Monday new measures aimed at slowing the flood of foreign money pouring into overheated housing markets like Vancouver and Toronto, a significant federal intervention in the sector. http://bit.ly/2d87HiW
** Toronto-based Kensington Capital Partners is poised to win a British Columbia government mandate to manage a C$190 million ($145.32 million) pool of venture capital – a cornerstone of the province’s innovation strategy. http://bit.ly/2d87tbG
** D-Wave Systems Inc, based in Burnaby, British Columbia, which is hoping to revolutionize computing by harnessing the mysterious power of quantum physics has quietly raised $21 million in advance of what it anticipates will be a significant funding round next year. http://bit.ly/2d88BMy
** Ottawa’s plan to legalize marijuana – a key piece of the Liberal election platform last fall – has spawned hundreds of storefront dispensaries across the country ahead of the legislation, although the federal government has taken no responsibility for the boom it has created. http://bit.ly/2d86RmB
NATIONAL POST
** Costco is aggressively stepping up its expansion in Canada after years of strong success in this market, a move likely to put even more of a squeeze on traditional grocers such as Loblaw and Sobeys. http://bit.ly/2d8aBnN
** Malaysia’s Petronas rumored to be seeking buyers for its Pacific NorthWest LNG project could struggle to offload its upstream natural gas assets due to the still-unproven competitiveness in its operations, one analyst says. http://bit.ly/2d8b0Xr
Britain
The Times
Small investors are likely to get the chance to buy shares in a proposed 10 billion pound ($12.93 billion) stock market listing of O2 in what would be the first big retail offer since the government floated Royal Mail Plc three years ago. http://bit.ly/2dnNRBY
Trade unions urged Prime Minister Theresa May on Sunday to push ahead with reforms that would force businesses to put workers on their boards. The Trade Union Congress said that the policy could be law within a year if a government consultation were to begin soon after the Conservative Party conference. http://bit.ly/2dnORGl
The Guardian
The World Bank has called for a fresh drive to tackle inequality after warning that the gap between rich and poor risks thwarting its ambition of eliminating extreme poverty by 2030. http://bit.ly/2dnNyaw
Tesco Plc is facing a claim for 150 million pounds ($193.94 million) from 60 shareholders seeking to recoup losses following accounting irregularities at the supermarket chain. http://bit.ly/2dnNBCZ
The Telegraph
UK’s agricultural and food services industry would struggle to survive without access to seasonal labour from Europe, leading to higher prices and even shortages, Produce Investments Plc Chief Executive Angus Armstrong has warned. http://bit.ly/2dnN843
TalkTalk Telecom Group Plc is launching a big overhaul of its business in a bid to regain its role as the broadband market’s challenger operator, in the face of tough industry trends and in the wake of last year’s crippling cyber attack. http://bit.ly/2dnNLKB
Sky News
Medical products maker Convatec’s owners, two big private equity firms, on Monday will announce the launch of an initial public offering that is likely to be the biggest in London since June’s vote to leave the European Union. http://bit.ly/2dnNAze
Two consortia, whose members are said to include a unit of Goldman Sachs Group Inc and the Canada Pension Plan Investment Board, are in detailed discussions about a deal to trump a hostile approach from HarbourVest for rival SVG Capital Plc. http://bit.ly/2dnFFSA
The Independent
Theresa May is risking a new Tory war over Europe after she wrenched open party divisions by signalling she backs a hard Brexit with controls on immigration at its core. In her opening speech to the Conservative conference, May unveiled a far tougher stance than she has previously taken on EU withdrawal and even directly attacked those who want a compromise deal to allow UK single market access. http://ind.pn/2dnO6x5
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