- Turkey downs Russian warplane near Syria border, Moscow denies airspace violation (Reuters)
- Investors seek safety in bonds, yen after Turkey downs Russian jet (Reuters)
- Donald Trump Is Not Backing Down (BBG)
- Uber's Exposure May Grow as U.S. Drivers Seek 57.5 Cents a Mile (BBG)
- U.S. issues global travel alert as manhunt continues for Paris attackers (Reuters)
- Stung by Oil, Distressed-Debt Traders See Worst Losses Since '08 (BBG)
- Pfizer Weighs Splitting Up New Drug Behemoth (WSJ)
- Banker Who Sheltered in London During Greek Crisis Sues Firm (BBG)
- California Needs Snow to Start Falling Now for Drought Relief (BBG)
- Explosive Vest Examined for Clues as Brussels Stays on Lockdown (BBG)
- Go Ahead, Sell the Peso, Mexico Doesn't Care What You Do Anymore (BBG)
- Yahoo CEO Marissa Mayer Faces Morale Challenge (WSJ)
- Hugo Boss Says Sales Next Year Will Miss Forecast on U.S., China (BBG)
Overnight Media Digest
WSJ
- Yahoo Inc Chief Executive Marissa Mayer has repeatedly said reviving growth at the company would take multiple years. However, many insiders have lost patience, saying the embattled boss has no clear sense of direction and has misled investors and advertisers about the company's progress. (http://on.wsj.com/1PWqTzg)
- Apple Inc plans to launch its new Apple Pay electronic-payment service in China by early February, according to people familiar with its discussions, potentially bringing it to a vibrant but fiercely competitive market for digital money. (http://on.wsj.com/1PWqVqK)
- William Ackman's Pershing Square Capital Management LP disclosed an increased 9.9 percent stake in Valeant Pharmaceuticals International Inc, a move that comes after the hedge fund manager said he had taken advantage of the beaten-down market for the stock to build up his position. (http://on.wsj.com/1PWqWe8)
- Xerox Corp has struggled for years with shrinking sales of printers and copiers. Now the 109-year-old company has a new challenge in activist investor Carl Icahn, who has taken a big stake and is trying to shake things up. (http://on.wsj.com/1PWr2m2)
- The $155 billion agreement to combine Pfizer Inc with Allergan Plc would create a drug behemoth so big that Pfizer is already thinking of breaking it up. On Monday, executives said they would consider splitting the combined company into two by 2018. (http://on.wsj.com/1PWr5yk)
FT
Italy is set to sell up to 40 percent of the country's state-owned railway group, Ferrovie dello Stato, to cut down country's high debt load.
AstraZeneca said on Monday it had finalised plans to divest its Crohn's disease drug Entocort by selling U.S. rights to the medicine to Perrigo for $380 million.
Spanish bank BBVA has acquired an almost 30 percent stake, worth 45 million stg, in UK's first digital-only lender Atom.
NYT
- The seafood industry in Thailand suffers from widespread labor and human rights abuses, exposing virtually all American and European companies that buy seafood from there to the "endemic risk" of having these problems as part of their supply chain, according to a report released on Monday by food giant Nestlé. (http://nyti.ms/1kQYe3m)
- Billionaire and activist investor Carl Icahn took aim at another famous American company on Monday, Xerox Corp ; and stepped up pressure on the insurance giant American International Group. In a filing with the Securities and Exchange Commission, Icahn announced he had built up a 7.1 percent stake in Xerox. (http://nyti.ms/1MzdhaC)
- In their first top-level trade talks since President Obama hosted China's leader in September, the U.S. and China said on Monday that they had made progress on sticking points, including preventing the theft of trade secrets and opening Chinese market more broadly to American multinationals. (http://nyti.ms/1N5e6oS)
- Billionaire investor William Ackman sharply increased his position in Valeant Pharmaceuticals, the embattled drug company, that has come under scrutiny. Ackman's Pershing Square Capital Management has increased its stake in Valeant to 9.9 percent, from 5.7 percent, according to a regulatory filing on Monday. (http://nyti.ms/1I7FK8I)
- In phone calls to Washington lawmakers and Obama administration officials, chief executive of Pfizer, Ian Read, said a merger with Allergan would significantly cut Pfizer's tax bill and give it more cash that it could invest in the United States and ultimately add jobs, according to people briefed on the calls. (http://nyti.ms/1X8FVaL)
Canada
THE GLOBE AND MAIL
** Cash-starved oil sands producers face mounting pressure to slash carbon emissions or dial back long-term growth plans after Alberta's New Democratic Party government unveiled new rules aimed at cleaning up the industry's tarnished reputation. (http://bit.ly/1lfARA0)
** The Ontario government is preparing to overhaul health care in the province, including scrapping its troubled system for delivering home care and reforming primary care with the aim of improving patient access. (http://bit.ly/1lfBbyP)
** Planeloads of Syrian refugees are expected to begin landing in Canada next week as Justin Trudeau's Liberal government scrambles to fulfill an election pledge to bring 25,000 new asylum seekers here by year end. (http://bit.ly/1lfBlpR)
NATIONAL POST
** Sears Hometown store dealers have filed a second $100-million class action suit against Sears Canada Inc , its biggest shareholders and board of directors, alleging they approved hundreds of millions of dollars in special dividends in 2013 that would only benefit the big shareholders. (http://bit.ly/1lfByJH)
** More than a third of elderly, gravely ill hospital patients are tagged to receive cardiopulmonary resuscitation even though they don't want the painful and usually futile measure, concludes a new Canadian study. (http://bit.ly/1lGXbmC)
China
21ST CENTURY BUSINESS HERALD
- The total investment in research and experimental development in China last year hit 1.3 trillion yuan ($203.47 billion), on-year increase of 9.9 percent, according to data from National Bureau of Statistics of China.
SHANGHAI SECURITIES NEWS
- China Securities Index Co (CSI) said it plans to launch a new index measuring the investment in new energy on Dec. 16.
CHINA SECURITIES JOURNAL
- Anhui Anke Biotechnology Group will acquire AGCU ScienTech Inc. for 450 million yuan, according to an announcement from Anke Biotechnology Group on Nov. 23.
SHANGHAI DAILY
- Ras Al Khaimah, an emirate of the United Arab Emirates, plans to open a representative office in China to attract Chinese investments to its free-trade zone, chairman of UAE FTZ said in Shanghai on Monday.
CHINA DAILY
- Tianjin plans to build the world's largest animal cloning factory next year to clone cattle, dogs and racehorses, said Jiangsu-based Boyalife Group Ltd on Monday. The factory will have a 15,000 square meter lab.
Britain
The Times
One of HSBC Holdings Plc's biggest investors, David Cumming, the head of equities at Standard Life Investments, has said shareholders would support the banking group if it decided to move its headquarters from London. (http://thetim.es/1kQCFQr)
A leading Royal Dutch Shell Plc shareholder has urged it to consider renegotiating the terms of its 43 billion pound takeover of BG Group Plc. (http://thetim.es/1Yqoi3q)
The Guardian
Toll roads should be introduced around Heathrow to help pay for the costs of building a third runway, according to the boss of British Airways' owner IAG. (http://bit.ly/1OcGDya)
The Telegraph
Business leaders have urged George Osborne to "hold his nerve" on reducing the deficit in public finances in this week's Autumn Statement, even as the Chancellor himself hints that his plans for a budget surplus may need to be scaled back. (http://bit.ly/1lFRBks)
Spanish bank BBVA has bought a near-30 pct stake in Atom, the UK's digital-only lender. (http://bit.ly/21d8aVo)
Sky News
HSBC Holdings Plc last week began the process of reducing headcount with the aim of cutting up to 2,000 positions over the next two years - including hundreds based in Britain.(http://bit.ly/1lFuOoQ)
One of Britain's biggest waste management groups, Biffa, is running a secret process to sell itself for as much as 1 billion pounds as it prepares to unveil an improved set of half-year results. (http://bit.ly/1PKGxz1)
The Independent
Data protection will soon become UK consumers' number one priority as a new study reveals that one in five Brits have had personal details stolen and used as a result of a cyber-security breach. (http://ind.pn/1X8AkBk)