Bz Nwz

Today’s Issue Cluster: VW Scandal Update

China – Seen Facing Hard Bump to Growth in Next 5-Year Plan
EU – Barclays chief says banking champion needed to compete with US
Insurance – Dropouts Present a Challenge for Health Law



MAJOR DATA POINTS

US – Sep: Industrial output falls for second month; -0.2% from -0.1% / R / WSJ

US – Oct: UMich Confidence Climbs; 92.1 from 87.2 / WSJ

US – Aug: Job openings decline; 5.37m from 5.75m / bi



MARKETS

China – Investors flock to bonds amid stock market wreckage FT * *

China – Debt-Fueled Bond Buying Raises Concerns WSJ *

China – Investors Rush to Haven Assets WSJ *

China – Beijing’s Market Rescue Leaves Stocks in Doldrums WSJ *



ECONOMICS

China – Seen Facing Hard Bump to Growth in Next 5-Year Plan B *



POLITICS & FISCAL POLICY

China – The Implosion of Beijing’s Taiwan Strategy wsj / N *

China – New Silk Road is Beijing’s signature foreign policy FT *

China – New frontier, old foes FT * * *

China – In Russia’s backyard FT * *



MONETARY POLICY

FINANCE

EU – Barclays chief says banking champion needed to compete with US FT / E * * *

EU – Strategy tests loom for new bank chiefs FT * *

EU – UK Banks May Need Billions More Under New Rules NYT / WSJ *

EU – UK Banks hail concession on ringfencing FT / FT / WSJ * * *



REAL ESTATE

Germany – Berlin’s Housing Problems Boil Over WSJ *



LABOR & EDUCATION

France – Factory confronts the 35-hour taboo FT *



SERVICES

Lux – China slowdown weighs on HK rents FT * *

Lux – Perfume Makers Turn to Wal-Mart, Target WSJ *

Lux – Swiss watch industry smart enough to face down challenges FT *



MANUFACTURING

Autos – VW: Germany orders mandatory recall FT / AP

Autos – VW: US Pursues Several Paths WSJ

Autos – VW: Berlin Orders Recall WSJ / FT / R / NYT

Autos – VW: Starts to cut investment after scandal FT / WSJ * * * * *

Autos – VW: Scandal leaves US strategy in tatters FT * *

Autos – VW: Scandal fuels jobs fear in east Europe FT *

Autos – VW: Scandal tarnishes Europe’s bond market FT * *



TECH

TRADE & TRANSPORTATION

COMMODITIES

ENERGY & ENVIRONMENT

HEALTH

Insurance – Dropouts Present a Challenge for Health Law NYT

Insurance – Is Obama’s health overhaul losing steam? AP / WSJ / B / NYT



ENDNOTE

The world’s best MBA programs E *



Today’s Issue Cluster: TPP Update

World – Higher Interest Rates Would Throw Bank Profits a Lifeline
Planes – Boeing Plunges as Delta Sees `Bubble’ of Used Wide-Body Jets
Pharma – How US pays three times more for drugs



MAJOR DATA POINTS

US – Sep: CPI Falls, Clouding Fed Rate Outlook; -0.2% from -0.1% / R / WSJ / B

US – Week: Applications for unemployment aid drop to 42-year low; -7k to 255k / AP / WSJ / R



MARKETS

US – $1.17t at 0% WSJ * *

US – Bond sell-off puts squeeze on swaps trade FT *



ECONOMICS

EMs – Rich Nations Lose Emerging-Markets Motor WSJ *

EMs – Germany negotiates trade decline FT * *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Economy Continues ‘Modest Expansion’ WSJ / AP / B

Fed – Tarullo adds to dissent on 2015 rate rise WSJ / FT / NYT / B / bi *

Fed – Most Regional Boards Favored Rate Rise in September B

Fed – Doubts Grow on 2015 Rate Hike WSJ / B *

Fed – Rates and Recession Risk: Catch-22 wsj *



FINANCE

World – Higher Interest Rates Would Throw Bank Profits a Lifeline B *



REAL ESTATE

LABOR & EDUCATION

SERVICES

Retail – Wal-Mart shares dive 10% on profit warning FT / WSJ * * *

Retail – Supermarkets wage war on two fronts FT

Retail – Haggen Struggles After Trying to Digest Albertsons WSJ *



MANUFACTURING

Planes – Boeing Plunges as Delta Sees `Bubble’ of Used Wide-Body Jets B

Planes – Lucrative aircraft maintenance market scrutinised FT * *



TECH

TRADE & TRANSPORTATION

TPP – Clinton says deal falls short on currency manipulation R

TPP – Business Groups Withholding Support on Lack of Details WSJ

TPP – Instead of building coalitions, the president is losing votes ft

TPP – Could spell the end of filesharing sites eg

TPP – Pact boosts Japan stocks in select sectors N *

TPP – Likely to Further Consolidate Japanese Farms WSJ *

TPP – China’s Heft Gives It Ammunition Against Deal WSJ *



COMMODITIES

ENERGY & ENVIRONMENT

HEALTH

Pharma – Big pieces of M&A jigsaw have yet to be placed FT *

Pharma – How US pays three times more for drugs R *

Pharma – Thinks twice about jacking up drug prices FT * *

Pharma – India battles over cough syrup abuse, reducing supplies R *



ENDNOTE

Airbus files patent for ‘flying bunk beds’ R *



Today’s Issue Cluster: F&B Update

Cuba – Hotel chains circle as visitors surge
Cyberwar – Insurance premiums rocket after high-profile attacks
Aluminum – Premium bubble over?



MAJOR DATA POINTS

China – Sep: CPI Eases, Pressuring More Stimulus; 1.6% from 2.0% / WSJ / R / AFP / X *

China – Sep: PPI steady; -5.9% from -5.9% / X *

EZ – Aug: Industrial production down; -0.5%, +0.9% yr / eu *

US – Sep: Retail sales barely rise; +0.1% from +0.2% / R / WSJ / AP / B

US – Sep: PPI Down; -0.5%, -1.1% yr / WSJ / AP / B

US – Aug: Business inventories unchanged; flat from flat / R



MARKETS

ECONOMICS

Mexico – US recovery drives jump in remittances FT * * * *

Mexico – Crude slump takes toll B * *

Mexico – Strains to Lure World’s Oil Giants WSJ / NYT *

Cuba – Hotel chains circle as visitors surge R *

El Salvador – A crackdown on gangs has so far made things worse E * *

Peru – Rebirth illustrates the China effect ft / WSJ / AP *

Chile – Left push for free car parking FT *

Argentina – Spirits lifted by reform hopes FT * *

Brazil – ‘New middle class’ struggles as economy plunges R / B *



POLITICS & FISCAL POLICY

Brazil – Rousseff gains time to avert impeachment R / FT / WSJ

Brazil – Lawmakers Move to Oust House Speaker WSJ



MONETARY POLICY

FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

F&B – SABMiller agrees to £68b takeover by AB InBev FT / WSJ / NYT / B / R * * *

F&B – AB InBev Takeover of SABMiller Would Realign Industry WSJ / WSJ *

F&B – Project Chart’s awkward route to Lima FT *

F&B – AB InBev May Have to Give up the World’s Best-Selling Beer B * *

F&B – AB InBev, SABMiller Merger Could Offer Rivals Opportunities WSJ *

F&B – Light Beer Gets in Touch With Serious Side WSJ *

F&B – Markets Where Local Beers Rule BW * *

F&B – New Diet Pepsi Leaves Some Loyalists With Bad Taste WSJ *



TECH

Cyberwar – Insurance premiums rocket after high-profile attacks R

Cyberwar – Ignites a New Arms Race WSJ *

Cyberwar – Going dark FT *



TRADE & TRANSPORTATION

Delivery – Drivers Reap Benefits of Trucking Boom WSJ *

Delivery – Online shopping boom leads to record increase in vans FT

Delivery – Fuel Prices Fall, but FedEx and UPS Boost Surcharges WSJ

Delivery – EU Seeking Concessions on FedEx-TNT Deal WSJ *



COMMODITIES

Metals – Moguls trade tales of a tough year FT *

Metals – Miners at a turning point? FT * * * *

Steel – China’s excess still a problem N *

Steel – Pouring out of China — but mostly towards the east FT *

Zinc – Prices Soar as Global Production Tightens WSJ / FT

Aluminum – Premium bubble over? R *



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

Sellers on eBay use round numbers as signals of impatience ev *



Today’s Issue Cluster: Oil

US – Productivity Soaring at Top Firms, Sluggish Elsewhere
US – Hotel Occupancy: 2015 on pace for Best Year Ever
Bird Flu – Vaccine Conditionally Approved, but Still Can’t Be Sold



MAJOR DATA POINTS

China – Sep: Import slump widens; -17.7% from -14.3% / AFP / B / R / AP / FT / WSJ *

Germany – Oct: ZEW investor sentiment soured by VW scandal; 1.9 from 12.1 / AFP



MARKETS

US – Cracks Emerge in Bond Market WSJ *

US – Bond predators humbled by distressed bets FT * *

US – Eurozone high yield debt outperforms FT * *

US – Dollar strength is only part of earnings hit FT * * *



ECONOMICS

US – Profit Margins Take Spotlight in Earnings Season WSJ *

US – Profit Margins Could Be Pointing Towards a Recession b *

US – Productivity Soaring at Top Firms, Sluggish Elsewhere hbr *

US – Export Weakness Hampers Growth WSJ *

US – Is the slowdown for real? ft * *

US – A Recession Just Got a Little More Likely B *

US – Americans spend money saved at the pump FT / B / wsj / eb * * * *



POLITICS & FISCAL POLICY

MONETARY POLICY

FINANCE

US – Banks build defences against downturn FT *



REAL ESTATE

US – Labor Shortage Pinches Home Builders WSJ *

US – Hotel Occupancy: 2015 on pace for Best Year Ever cr *



LABOR & EDUCATION

SERVICES

Media – New-Media Companies Shift Attention to TV WSJ *

Media – YouTube stars ride loyal fan base to film success FT * * *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

COMMODITIES

Water – Commodities Heating Up on El Niño WSJ *

Water – Drought woes in California town highlight thirsty poultry industry R

Water – Conditions Sour for California’s Dairy WSJ *



ENERGY & ENVIRONMENT

Oil – US Output to Drop for First Time in Eight Years WSJ / FT *

Oil – Market glut will persist through 2016, says IEA FT / B *

Oil – Offshore output to plunge as producers scrap field upgrades R *

Oil – US turns to west Africa as shale output slows FT *

Oil – Saudi Arabia’s gambit for market share meets Yankee ingenuity ft * *

Oil – Miniature Heavy Sites Overcome Slump WSJ *

Oil – Crude crash and regional oversupply hit SK refineries FT *

Shale – A shakeout is finally hitting debt-strapped US producers E * * * *

Shale – New production and financing to have lasting impact FT

Sands – Boom Dries Up in Alberta NYT



HEALTH

Bird Flu – Readies for a Return WSJ *

Bird Flu – Vaccine Conditionally Approved, but Still Can’t Be Sold NYT

TB – Staff deaths at leading hospital put India’s battle in spotlight R *

Dengue – Concerns growing over spread of fever N *

Malaria – The end is in sight E * * *



ENDNOTE

Oil prices’ forecasts are often wrong, totally wrong b *



Today’s Issue Cluster: Shipping

EMs – Concern Grows That the IMF May Be Overstretched
India – Catching up with China
World – ‘Quantitative frightening’



MAJOR DATA POINTS

–



MARKETS

EMs – The Failure to Learn From Boom-Bust Cycles WSJ *

EMs – Global ‘US dollar recession’ creates ill wind FT *

EMs – European investors eye exit FT * *

EMs – At the mercy of shifting money flows FT * * *

EMs – Will have to curb their enthusiasm for bonds FT *

EMs – Weaker currencies and steadier oil will push inflation higher FT * *

EMs – PMI down lowest since March 2009 / m *

EMs – Concern Grows That the IMF May Be Overstretched NYT



ECONOMICS

India – Seeks to solve inflation-deflation puzzle FT *

India – Catching up with China E * *

India – Closing Infrastructure Gap With China B *



POLITICS & FISCAL POLICY

MONETARY POLICY

World – Central bank policy divergence to widen FT / R / R * * *

World – Quantitative frightening E *



FINANCE

India – SBI chief calls for radical banking overhaul FT

India – Bad loans spiral in ‘broken’ banking system FT *

India – No band-aid solutions for problem loans FT * *



REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

Textiles – Bangladesh unions censure western brands FT

Textiles – Sri Lanka challenges Bangladesh N *

Textiles – Manchester sees revival of trade FT

Textiles – Chinese Mills Hiring Where Cotton Was King NYT * *



TECH

TRADE & TRANSPORTATION

Ship – Container ships looking for cargo N / WSJ

Ship – Cosco to Order 11 Megaships, Adding to Overcapacity WSJ

Ship – Record number of Arctic-going vessels q * *

Ship – Why Aren’t US Ports Automated? priceonomics * *

Ship – Billionaire With Canal Dream Has Biggest Loss of ’15 B *

Ship – Kra Canal: Time to Ease Malacca Bottleneck? forbes *



COMMODITIES

ENERGY & ENVIRONMENT

Power – Utilities Skip Fight Against Carbon Rule WSJ *

Power – Vegas Casinos Fight to Buy Their Own Electricity WSJ *

Power – How Each State Generates Electricity NPR / reddit *

Power – Fast pace of plant closures threatens UK grid FT / FT * *



HEALTH

ENDNOTE

World shipping routes bm *



Today’s Issue Cluster: China

–



MAJOR DATA POINTS

US – Aug: Wholesale inventories rise slightly; +0.1% not flat / R

US – Sep: Import prices barely decline; -0.1% not -0.5% / R / WSJ



MARKETS

China – Markets Gain Confidence in Yuan WSJ / WSJ *

China – Launch of renminbi payments system reflects Swift concerns FT * *

China – Foreign Exchange Reserves Drop $43b WSJ *

China – Bonds surge as PBOC eases and funds shift from stocks B *



ECONOMICS

China – Middle-Class Dreams in Peril WSJ *

China – Could find a ‘new normal’ elusive N *

China – Commodity companies in debt bi * *

China – Here’s relooking at FX reserves ft *

China – UK looks East N * *



POLITICS & FISCAL POLICY

China – Turns to soft power to win tiny Taiwan-held island R *



MONETARY POLICY

Fed – Rate Delay Spurred by Worry Over Low Inflation WSJ / FT / B / R / AP / NYT



FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

Gaming – Macau: Slower revenue fall boosts casinos FT / WSJ *

Gaming – Macau: Latest Woe is Embezzlement Allegations WSJ / FT *

Gaming – Xi Changes the Odds WSJ *

Gaming – Macau stocks still face challenging outlooks WSJ *



MANUFACTURING

TECH

TRADE & TRANSPORTATION

Rail – China: Pins hopes on trains to put economy back on track FT / N *

Rail – China: Plans to build world’s longest underwater tunnel AFP / CD *

Rail – China: Considering line under Mount Everest G *

Rail – China: CSR, CNR trying to roll over rivals N *

Rail – China: Japan Says Beijing Wins Indonesia Contract WSJ / FT / WSJ / FT *

Rail – China: ‘One Belt, One Road’ initiative gathers steam N *

Rail – China: High-speed vision cbr *

Rail – China: Group signs $5.5b in Africa deals FT / FT / CD / WSJ

Rail – China: Mulls high-speed train to US CD

Rail – China’s Ambitions Crash Into Realities in Latin America NYT



COMMODITIES

ENERGY & ENVIRONMENT

Carbon – As China Unveils Cap-and-Trade, Challenges Loom WSJ / FT / E *

Carbon – Surge in China’s ‘green’ car sales hints at climate agenda FT *



HEALTH

ENDNOTE

All the world’s railroads, mapped wapo *



Today’s Issue Cluster: Tobacco

Silicon Valley – Smaller businesses fear freeze from EU privacy ruling
TPP – Canada’s NDP Opposes
Coal – India opening a mine a month to double output by 2020



MAJOR DATA POINTS

Germany – Aug: EMs slowdown hits exports; -5.2%, +5.0% yr / AP / FT

US – Week: Jobless Claims Fall; -13k to 263k / B / WSJ / R



MARKETS

Bonds – China Starts Dumping US Government Debt WSJ *

Bonds – US junk cracking after debt binge FT * * *



ECONOMICS

World – IMF Downgrades Economic Outlook Again WSJ *

World – IMF warns of fresh shocks to financial stability FT * *



POLITICS & FISCAL POLICY

Japan – Abenomics Is Doing Better Than You Think WSJ *

Japan – Needs extra stimulus, says Abe adviser FT * *



MONETARY POLICY

BOJ – Pressure building to ease monetary policy further WSJ *

BOJ – Japan weighs policy easing options FT * *

BOJ – Bank damps hopes for stimulus boost FT / WSJ



FINANCE

US – Dodd-Frank’s Effect on Small Banks is Muted WSJ *

US – Bank Failures by Year cr * *

US – Record ATM Fees Rise Toward $5 WSJ * *



REAL ESTATE

US – As Housing Heals, Are Mortgage Stocks A Good Bet? IBD

US – CoreLogic: House Prices up 6.9% / cr *

US – Reis: Apartment Market Boom Levels Out / WSJ / cr *

US – Reis: Office Vacancy Rate declined in Q3 to 16.5% / cr *

US – Reis: Mall Vacancy Rate unchanged in Q3 / cr *

US – AIA Billings Indicate Slight Contraction / cr *



LABOR & EDUCATION

US – UAW Threatens Strike at Fiat Chrysler WSJ / R *

US – UAW Standoff at Fiat Chrysler Continues WSJ / B *



SERVICES

Cigs – Low-nicotine brands cut use, dependence AP

Cigs – Prospects burn bright for self-igniting cigarettes FT

Cigs – Americans Smoking Again, a Boon for Tobacco Bonds B / B *

E-Cigs – We Don’t Know If They Lead Kids To Real Cigs 538

E-Cigs – UK officials call for faster medicinal licensing FT / NYT / R *



MANUFACTURING

TECH

Silicon Valley – EU Strikes Down Data-Transfer Pact WSJ / NYT / FT / B / IBD / FT / zd *

Silicon Valley – Smaller businesses fear freeze from EU privacy ruling R



TRADE & TRANSPORTATION

TPP – Clinton Comes Out Against Deal WSJ / FT / NYT / B / R / AP / AP *

TPP – Canada’s NDP Opposes G&M / ft *

TPP – Currency Deal Puts Yellen in the Spotlight B *

TPP – Brazil on the outside, looking in on ‘very negative’ effects G&M

TPP – Vietnam looks for boost FT / AP *

TPP – Company Stampede to Southeast Asia Seen WSJ *

TPP – A Mixed Bag for Asian Firms WSJ *



COMMODITIES

ENERGY & ENVIRONMENT

Coal – Half of World’s Output Is Unprofitable, Moody’s Says B * *

Coal – Obama’s focus on climate change signals dismal future B * *

Coal – Things Can’t Get Much Worse After a Dire 2015 B / FT *

Coal – India opening a mine a month to double output by 2020 R



HEALTH

ENDNOTE

Percentage of smokers worldwide motw *



Today’s Issue Cluster: Planes

Canada – TPP Jolts Campaign
Air – Asia swings into expansion mode as passenger numbers soar
Beef – As the world grows hungry for meat, an industry consolidates



MAJOR DATA POINTS

Germany – Aug: Industrial output stutters; -1.8% from -2.2% / AFP / WSJ



MARKETS

Currencies – Renminbi overtakes yen FT / WSJ / B * * *

Currencies – EM funk sets the world up for a US dollar recession FT

Currencies – ‘America is at the centre of a global monetary disorder’ E *

Currencies – Dollar ‘dominant and dangerous’ e



ECONOMICS

World – IMF warns on worst global growth since financial crisis FT * *

World – Less full of inflation ft *



POLITICS & FISCAL POLICY

Canada – TPP Jolts Campaign NYT

Canada – Tacking to the left? FT * * * *



MONETARY POLICY

FINANCE

REAL ESTATE

LABOR & EDUCATION

SERVICES

MANUFACTURING

Planes – Market: Bombardier offered CSeries to Airbus R / FT / WSJ / B

Planes – Market: Boeing, Airbus Begin New Battle for Cargo WSJ

Planes – Market: Boeing Gets Support for New Midrange Jetliner WSJ

Planes – Market: Effects of Delta’s Gulf carrier complaint on Boeing b *

Planes – 737: Flop Becomes World’s Hottest Secondhand Jetliner B *

Planes – 737: Boeing, Supplier Wrestle to Produce Key Component WSJ / R

Planes – 767: Boeing plans to further speed up production R / WSJ

Planes – 787: Cumulative cash losses have hit $30b FT

Planes – 787: Boeing delivers 14 Dreamliners, strong cash flow seen R

Planes – 747: Boeing sticks with production plans despite sales drought R

Planes – 747: British Airways Can’t Kick Habit B

Planes – A320: US factory ‘will be world’s most efficient’ R / R / WSJ / B / R / NYT

Planes – Wide-Body: Russia Seeks Accord With China on New Plane B

Planes – Regional: Japan Nears Test for Long-Delayed Jet NYT

Planes – Business: China’s Market Zooms a Little Slower NYT



TECH

TRADE & TRANSPORTATION

Air – IndiGo owner to float despite India aviation challenges FT * *

Air – Consolidation Hits Smaller Cities Hardest WSJ * * *

Air – Asia swings into expansion mode as passenger numbers soar N *

Air – Asian Pilot Demand Lifts Flight Schools WSJ *

Air – Weak Link in Asia’s Flight Boom: Airports WSJ *



COMMODITIES

Beef – Trend towards higher meat consumption globally is clear FT * *

Beef – Chinese companies eye Australia’s vast land sale FT * *

Beef – As the world grows hungry for meat, an industry consolidates N *



ENERGY & ENVIRONMENT

HEALTH

ENDNOTE

No USS Montana reddit *



Today’s Issue Cluster: Ads

Autos – VW: Quantifying a backlash for the German economy
NatGas – Tops coal as the US’s No. 1 power fuel
Pharma – First Gene Therapy Closes In On Approval in US



MAJOR DATA POINTS

Germany – Aug: Factory Orders Unexpectedly Fall; -1.8% from -2.2% / B / AFP *

US – Aug: Trade Gap Widens Sharply; -$48.3b from -$41.8b / WSJ / B / R



MARKETS

UK – Lloyds share sale pits retail investors against big institutions FT *



ECONOMICS

Ukraine – Kiev fears default as MPs prepare to vote on debt restructuring FT * *

Ukraine – The patient awakes e *



POLITICS & FISCAL POLICY

Portugal – PM defies the austerity curse FT *



MONETARY POLICY

World – A Core Tenet of How Central Bank Stimulus Supports Growth Doesn’t Fit the Data B * *



FINANCE

EU – Banks chiefs claim tougher ECB rules give advantage to US rivals FT

UK – End in sight to costliest ever financial scandal FT * * *

UK – A time limit on PPI claims is good news for bank dividends FT *



REAL ESTATE

UK – Mortgage data fuel signs of warming property market FT *

UK – Housebuilders muscle into top tier FT * *

UK – A booming market that could do with a crash E * *



LABOR & EDUCATION

SERVICES

Ads – Blocking unleashes anxiety across industry FT * * *

Ads – Apple approves first blocker that works within mobile apps FT

Ads – Publishers Worry That Native Ads Are Vulnerable to Blocking WSJ

Ads – Putting Mobile Blockers to the Test NYT / G&M *

Ads – Digicel first mobile group to block ads in battle against Google FT

Ads – Publishers That Say No to Automated Sales WSJ *



MANUFACTURING

Autos – VW: Former Chairman Piëch regains influence WSJ *

Autos – VW: Quantifying a backlash for the German economy B *



TECH

TRADE & TRANSPORTATION

TPP – Some US Industries Seen as Winners WSJ / B / NYT *

TPP – Pact hinges on domestic approval by six members N / N / B

TPP – Accord Is ‘Terrible Deal,’ Trump Says B / CNN

TPP – Sanders blasts ‘disastrous’ Obama trade deal Hill

TTIP – TPP lifts hopes for US-EU trade pact FT



COMMODITIES

ENERGY & ENVIRONMENT

NatGas – China’s Slowing Demand Burns Gas Giants WSJ *

NatGas – LNG importers gaining price leverage N *

NatGas – In New England, Shale Gas Is Hard to Get WSJ *

NatGas – US production reached a new all-time record high in July / cd *

NatGas – Tops coal as the US’s No. 1 power fuel G&M *



HEALTH

Pharma – First Gene Therapy Closes In On Approval in US NYT

Pharma – Price Increases Drive Revenue WSJ * *



ENDNOTE

The London Underground Rent Map thrillist *



Today’s Issue Cluster: US Labor

EMs – At the mercy of shifting money flows
Fed – Mixed messages as officials go public in force
Oil – Bulls Lose Faith in Recovery as Russia Adds to Global Glut



MAJOR DATA POINTS

EZ – Sep: Markit Final PMI Fell More; 53.6 was 53.9 / AFP *

US – Sep: Markit Services Drops; 55.1 from 56.1 / m

US – Sep: ISM services growth ebbs; 56.9 from 59.0 / R / WSJ



MARKETS

EMs – At the mercy of shifting money flows FT * * *

EMs – Companies’ debt could be hurt as commodities and currencies fall WSJ *

EMs – Prospects Look Rocky for Southeast Asia Deals WSJ *



ECONOMICS

EMs – Turmoil flashes warning lights for global economy FT * *

EMs – The ill wind of deflation FT * * * * *



POLITICS & FISCAL POLICY

MONETARY POLICY

Fed – Soft Jobs Numbers Likely to Stay Hand WSJ / R

Fed – Weak jobs growth adds to rate rise doubts FT *

Fed – Lousy jobs numbers: was right not to hike rates e *

Fed – Treasurys Flash Rate-Rise Delay WSJ *

Fed – Investors flee stocks and buy Treasurys WSJ *

Fed – Probability of Liftoff Now vs. Then b *

Fed – Mixed messages as officials go public in force R *

Fed – Low inflation more than cheap oil and a strong dollar E *

Fed – Finds it is tough to make predictions FT * *

Fed – Why some EM leaders say they want hike e *



FINANCE

REAL ESTATE

LABOR & EDUCATION

US – Global Turmoil Saps Job Growth WSJ * *

US – Job growth stumbles, raising doubts on economy R *

US – Economists Can’t Find the Silver Lining in Jobs Report B / wsj * *

US – Jobs Machine Sputters as Global Woes Chip at Growth B * * *

US – The September Jobs Report in Charts / wsj * * *

US – Beaten-Down Factory Worker Is Getting Squeezed Again B *



SERVICES

MANUFACTURING

TECH

TRADE & TRANSPORTATION

TPP – Negotiators reach deal WSJ / FT / R / B / NYT / FT

TPP – Tobacco Issue Puts Pact at Risk WSJ / NYT / JN *

TPP – Rift Over Drug Protections Complicates Talks WSJ / R / NYT / NYT

TPP – Would include auto market opening for Japan R



COMMODITIES

Cocoa – Ivory Coast move alarms traders FT / sa *

Coffee – China’s Changing Tastes Offer Upside WSJ *



ENERGY & ENVIRONMENT

Oil – Russian Output Rises to Post-Soviet High WSJ *

Oil – Producers’ Share Sales Get Warm Reception WSJ *

Oil – Bulls Lose Faith in Recovery as Russia Adds to Global Glut B *

Oil – Low prices reshaping the world economy N * *



HEALTH

ENDNOTE

Simpsons superforecast the 2016 race t *