- Great News: China’s GDP Growth Beats Forecasts as Stimulus Supports Spending (BBG)
- Oh wait, maybe not: China GDP: Deflategate Comes to Beijing (WSJ)
- Actually, definitely not: Shanghai rebar falls to record low after weak China GDP (Reuters)
- But who cares: European Shares Gain on Earnings as Bonds Drop, Metals Decline (BBG)
- Amid Slumping Economy, Canada’s Stephen Harper Braces for Tight Election Race (WSJ)
- Syrian rebels say receive more weapons for Aleppo battle (Reuters)
- Chinese Copper-Trading Surge Shakes Up Market (WSJ)
- The ETF Whale Blamed for Moving Japanese Markets Gets Reeled In (BBG)
- First Blackrock, now Blackstone: NYC's Stuyvesant Town Said for Sale With Blackstone Weighing Bid (BBG)
- ECB Heads to Malta Meeting as More QE Seen a Matter of Time (BBG)
- Wal-Mart puts the squeeze on suppliers to share its pain as earnings sag (Reuters)
- London Gold Market Under Scrutiny as Bullion World Gathers (BBG)
- 'I'm forever blowing bubbles': Outsiders fear for Canadian housing (G&M)
- Debt, Growth Concerns Rain on Deficit Parade (WSJ)
- Turkish PM Davutoglu says downed drone was Russian-made (Reuters)
- Police Raid Volkswagen Headquarters in France (WSJ)
Overnight Media Digest
WSJ
- China's once world-beating economy sputtered further in the third quarter, decelerating to its slowest pace since the global financial crisis and adding to concerns about the global economic outlook.(http://on.wsj.com/1hMxKgZ)
- A high-profile U.S. probe of bribery allegations against Wal-Mart Stores Inc's Mexican operations has found little in the way of major offenses, and could be resolved with a fine and no criminal charges against Wal-Mart executives.(http://on.wsj.com/1GljEyS)
- Syrian pro-regime forces backed by Russian airstrikes have expanded their ground offensive to the strategic city of Aleppo.(http://on.wsj.com/1ZPv9oR)
- Time Inc has snapped up Hello Giggles Inc, operator of the pop-culture, beauty and lifestyle website HelloGiggles.com. Terms were not disclosed. One person familiar with the purchase suggested it was in the range of $20 million. (http://on.wsj.com/1LYtnHz)
- The Obama administration begins implementing its landmark nuclear agreement with Iran with an eye toward lifting the expansive sanctions imposed on Tehran in the past decade. But concerns about the terms of the deal continue to grow.(http://on.wsj.com/1LjjzKR)
FT
Deutsche Bank AG is restructuring its business, splitting its investment bank in two and parting ways with some of its top bankers as John Cryan, the new chief executive officer of Germany's biggest bank, sets out its most "fundamental" overhaul.
French police have carried out searches at Volkswagen AG offices in France in an investigation following revelations the carmaker rigged vehicle diesel emissions tests. The company confirmed its offices were searched by French police on Friday and was cooperating with the authorities.
French power group EDF intends to sell assets worth at least 10 billion euros ($11.36 billion) to help finance investments as it builds two EPR nuclear reactors in the UK. The company is considering the sale of its Italian exploration and productions unit, Edison, as well as a stake in American nuclear group CEGN. ($1 = 0.8802 euros)
NYT
- The daily fantasy sports website DraftKings defied an order from the Nevada Gaming Control Board to quit operating immediately within the state and accepted entries into its contests for the weekend. (http://nyti.ms/1PB6u2A)
- For the most part, owners are not required to have repairs made to Volkswagen cars whose emissions systems were modified to cheat federal tests.(http://nyti.ms/1MxMhFF)
- Deutsche Bank said that it would split its investment bank in two and overhaul its top management as the lender, Germany's largest, tried to overcome legal problems and address criticism that it was inefficient. As part of the reorganization, several top executives will leave, including two who were criticized for their handling of accusations that Deutsche Bank colluded with other banks to rig benchmark interest rates. (http://nyti.ms/1LF2jkL)
- The retail giant Wal-Mart Stores Inc forecast lackluster sales growth for this year and a steep profit dip for next, in part because costs are climbing sharply as sales are flat. (http://nyti.ms/1Lx5O9i)
Canada
THE GLOBE AND MAIL
** Observers outside Canada are ringing alarm bells over inflated house prices. Both Moody's Analytics and The Economist issued fresh warnings within days of each other, each citing swollen household debt. (http://bit.ly/1XeoVfL)
** Heavy concentration of Canadian oil exports to just a handful of U.S. refineries is the biggest risk facing the country's crude oil market each day, especially as depressed world prices drag on, Royal Bank of Canada says. (http://bit.ly/1NjYQHB)
** Voters are expected to show up in huge numbers on Monday after the longest campaign in modern Canadian history, in an election that appears to be turning on the appetite for change and on which opposition party would best answer that desire. (http://bit.ly/1LFCHUS)
NATIONAL POST
** Pilots at WestJet Airlines Ltd have given up on trying to form an independent union and have instead turned to a major international association for help. (http://bit.ly/1Rh34k1)
** Early in his career, former Ontario premier Ernie Eves won an election by just six votes and the nickname "Landslide Ernie" stuck with him, despite decades of electoral success that followed. The only person more annoyed by that narrow margin was his challenger who lost. (http://bit.ly/1Xer4s3)
** Should a new prime minister emerge on Monday night, he'll soon be entering a world of government perks: An address at 24 Sussex, use of the title "Right Honorable" for life, an armored Cadillac and use of a CC-150 Polaris decked out in fancy "Government of Canada" livery. (http://bit.ly/1PBwKKf)
China
CHINA BUSINESS NEWS
- The total revenue of 22 listed brokerages in September fell 12.59 percent from August to 14.13 billion yuan ($2.22 billion) the paper reported. Net profit fell 19.72 percent on-month to 5.16 billion yuan.
SHANGHAI SECURITIES NEWS
- Sinosteel may default on bond payments due on Oct. 20, the paper reported, in what may be the first steel company to breach a bond market contract. The bonds had a coupon rate of 5.30 percent and a total of 2 billion yuan worth of bonds were issued. Early in July, the firm's bond credit rating was lowered from AA- to BB.
CHINA DAILY
- The U.S. has deliberately played up China's construction efforts on the disputed Nansha Islands in the South China Sea, according to an editorial in the paper. Washington's intention is to mislead the public and shrug off responsibility for raising tensions with China, it said.
- China's economists support reducing next year's GDP target to 6.5 percent, the paper said, ahead of a top leaders' conference to be held later this month. The lowest suggested growth rate was 6 percent.
CHINA SECURITIES JOURNAL
- China Railway issued its seventh series of seven-year construction bonds, in line with expectations, said the paper. The rate for the bonds is 5.18 percent, slightly higher than the average of 4.50 to 5.50 percent.
Britain
The Times
French police raid Volkswagen office over emissions scandal
The focus of the Volkswagen AG emissions-cheating crisis has switched to France after the German carmaker's offices there were raided by investigators. Officials moved in on VW's headquarters at Villers-Cotterets in northern France and other VW offices in Paris, and seized documents and computer hardware. (http://thetim.es/1KimVd8)
Diageo calls time on California vineyard
Drinks group Diageo is expected to hoist a for-sale sign over the Chalone Vineyard in California's Napa Valley after it was excluded last week from a $552 million deal with Treasury Wine Estates of Australia. (http://thetim.es/1LEjHpU)
The Guardian
Deutsche Bank divides investment arm in two as part of overhaul
Deutsche Bank AG is splitting its investment bank into two separate units as part of a broad strategic overhaul launched by its new chief executive, John Cryan. Germany's flagship bank said on Sunday the sales and trading activities of its corporate banking and securities unit would form a new business division called global markets. The investment bank's corporate finance business as well as its global transaction banking operation will be combined in a new corporate and investment banking unit. (http://bit.ly/1khFOrT)
Trinity Mirror to announce 220 mln stg deal to control Local World
The publisher of the Daily Mirror is poised to announce a 220 million-pound deal to take control of Local World, which owns more than 100 regional titles, to create a local newspaper powerhouse. Trinity Mirror Plc, which also owns the Sunday People and Sunday Mirror, is thought to be close to securing a deal with Local World and could announce completion this week. (http://bit.ly/1VZEs0J)
The Telegraph
Eurozone policymakers gear up to deliver stronger monetary firepower by the end of the year
Eurozone policymakers will prepare investors for stronger stimulus at this week's meeting of the European Central Bank, as the ailing currency bloc continues its fight with deflation. The governing council is set to meet in Malta this week to vote on measures that could support the fragile euro area economy. (http://bit.ly/1ZP38hc)
ITV warns over Channel 4 privatisation
ITV Plc has warned that privatising Channel 4 could damage Britain's 3 billion-pound ($4.63 billion) television production sector, as the government considers selling off the taxpayer-owned broadcaster. (http://bit.ly/1ZP3l3H)
Tesco faces Brand Gaurantee anger
Tesco Plc is expected to come under pressure from the advertising watchdog over its new Brand Guarantee, which is said to flout a ruling the retailer was responsible for putting in place. (http://bit.ly/1jP1ECv)
Sky News
Amazon sues 1,114 'fake reviewers' for hire
Amazon.com Inc is taking legal action against more than 1,100 people for allegedly posting fake reviews on its website. The online retailer's lawsuit, filed in a state court in Seattle, cites 1,114 defendants for "tarnishing Amazon's brand for their own profit and the profit of a handful of dishonest sellers and manufacturers". (http://bit.ly/1PrMm45)
Olver approached to lead 10 bln stg Urenco sale
Dick Olver, the former BAE Systems Plc chairman, has been approached about spearheading the 10 billion-pound privatisation of Urenco, the uranium enrichment group. (http://bit.ly/1LEmK1j)
Chinese giant Huawei backs 'wonder material'
The Chinese telecommunications equipment giant Huawei will unveil an investment in the 'wonder material' graphene this week in a deal that will deepen scientific collaboration between Britain and China. (http://bit.ly/1jw2WCN)