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Frontrunning: September 11

  • One Volatile Week Could Seal Fed Stance After Years of Low Rates (BBG)
  • Fed to dominate week of central bank meetings (Reuters)
  • 30 years on, parallels with Plaza but currency universe very different (Reuters)
  • Wal-Mart's Suppliers Are Finally Fighting Back (BBG)
  • China's Rising CPI, Deepening PPI Deflation Challenges PBOC (BBG)
  • Petrobras spending plan already obsolete, new cuts likely (Reuters)
  • Bank of Montreal to Buy GE Capital’s Transportation-Finance Unit (WSJ)
  • Eastern Europe Bashes West as Putin Gas Link Plan Splits Europe (BBG)
  • Why Vladimir Putin Won't Be Helping OPEC to Cut Oil Production (BBG)
  • U.S. to China: Take back your undocumented immigrants (Reuters)
  • China tells U.S. to stop 'groundless' hacking accusations (Reuters)
  • Copper Trims Biggest Weekly Advance in Four Months as Shorts Cut (BBG)
  • Touting morality, billionaire Texas brothers top 2016 donor list (Reuters)
  • Moody’s Downgrades Glecore’s Credit Outlook to Negative (WSJ)
  • China Credit Growth Expanded in August as Rate Cuts Kick In (BBG)
  • Luxury items line shelves in Calgary pawn shops as recession deepens (WSJ)
  • GE Nears Decision on Relocating Its Headquarters (WSJ)


Overnight Media Digest


- General Electric Co plans to decide by the end of the year whether to move its headquarters of more than 40 years from Connecticut, a choice prompted by what the company considers an inhospitable climate for business. (

- Avon Products Inc is negotiating to sell a stake to a private-equity firm, a sign that the cosmetics purveyor has been unable to find a buyer for the entire company. (

- Verizon Communications Inc this week is showing off its Go90 online video service, which can be watched on phones and tablets via an app and is aimed almost exclusively at millennials. (

- Prices for imported goods in the United States fell 1.8 percent in August, posting their largest drop since January, a sign that the strong dollar and continuing weakness in oil prices are keeping inflation at bay. (



Ex-chief of Standard Chartered Plc Peter Sands, who stepped down in June, is now in talks to now be an informal policy adviser to Downing Street. Sands, however, will not have a direct role in regulation of the financial industry and will not be paid.

France's Credit Agricole SA is nearing an agreement to pay about $1 billion to resolve investigations into whether it illegally moved funds through the United States for blacklisted individuals and countries such as Sudan and Iran.

A top court of the EU was accused of "tormenting" business after ruling that workers who do not have fixed offices should also be paid for the travelling time to and from their first and last customers.



- Whether three top executives of the fallen law firm Dewey & LeBoeuf defrauded the firm's lenders and bondholders in a sophisticated accounting conspiracy is now up to a jury. (

- The shutdown two years ago of lanes leading to the George Washington Bridge set off a chain of events that ultimately led to the surprise resignation of Jeff Smisek, CEO of United Continental Holdings Inc. (

- Head-Up displays, the technology which shows data like a vehicle's speed in front of the driver, is moving beyond performance cars and appearing in more models, making for yet another informational distraction for the already data-overloaded driver. (

- U.S. accident investigators said on Thursday that they found multiple breaches in the engine of a British Airways aircraft that was forced to abort its takeoff on Tuesday at the Las Vegas McCarran International Airport, suggesting the airplane had suffered an uncontained engine failure. (




** The Bank of Montreal has agreed to buy GE Capital's transportation finance business, boosting the Canadian lender's U.S. commercial banking business and adding one more Canadian name to the list of buyers for GE Capital's assets. (

** Canadian Prime Minister Stephen Harper's Conservatives are retooling their election campaign after a series of missteps that has driven the Tories to third place in the polls. The changes come as his government scrambles to unveil a plan within days that speeds up Canada's intake of Syrian refugees. (

** Canada's National Democratic Party leader Tom Mulcair and Liberal Leader Justin Trudeau repeated promises this week to roll back a Conservative budget measure that nearly doubled the contribution limit on tax-free savings accounts. (


** Bombardier Inc's head of commercial aircraft, Fred Cromer, reiterated on Thursday that the company remained on track to hit its order target for the CSeries jetliner even as questions persist about the future of its biggest consumer jet. (

** Canadian Prime Minister Stephen Harper's Conservatives have slipped to third place, according to poll tracker Eric Grenier. However, gaps between the major parties remain negligible. Now clinging to 28 percent national support, Harper is still within easy reach of Justin Trudeau's Liberals, at 31.5 percent, and Tom Mulcair's New Democrats, at 31.6 percent. (

** The father of the little Syrian-Kurdish boy, Alan Kurdi, photographed lying dead on a Turkish beach says he blames Canada for the deaths of his wife and two sons. (




- Sales from January to August this year by China's five major listed property companies, including China Vanke Co Ltd and Poly Real Estate Group Co Ltd, have grown 14-30 percent over the same period in 2014, the official newspaper said citing publicly released sales data.


- The latest hostage taking by ISIS shows no country can remain unaffected by the war against terror, and greater international cooperation is needed to cut off the funds and manpower supply to the group and other terrorist organisations, an editorial said.


- Over 1,400 listed Chinese companies so far have taken measures required by national regulators to stabilize their share prices since early July, according to a survey by the newspaper. Major shareholders or senior executives at 1,100 firms have increased their holdings by trading in the secondary market.


- The average P/E ratio on the Chinext was halved from a high of 146.57 on June 3 to 68.62 on Sept. 2, the newspaper reported.



The Times

British taxpayers face a 90 million pound bill to relocate 160,000 asylum seekers between European countries in a scheme that David Cameron said could encourage more people to risk their lives travelling to the continent. (

Some of Britain's biggest retailers have warned that the proposal to introduce a national living wage could cost them tens of millions of pounds in higher wages and may force up prices. (

The Guardian

George Osborne has received a new warning about the potential impact of his new tax on banks amid concerns it will impede new entrants to the sector. Andrew Tyrie, chairman of the Treasury select committee, raised the potential competition threat on the eve of a meeting between Treasury officials and representatives of the challenger banks. (

The Telegraph

The survival of economic and monetary union will require the creation of new supra-national institutions, including a joint euro zone treasury and a separate euro parliament, according to the single currency's bail-out chief. Klaus Regling, head of the European Stability Mechanism, joined a clamour of voices in Brussels who are pushing for member states to cede sovereignty in a bid to establish a full-blown fiscal union on the Continent. (

China's recent turmoil has not altered the Bank of England's plans to raise interest rates, even as UK growth is expected to slow, policymakers said on Thursday. (

Sky News

Thousands of customers who have a Premier Account with Lloyds Banking Group Plc could be affected as a box containing all of their data has gone missing. (

A UK-bound plane which burst into flames at Las Vegas Airport suffered multiple breaches of the engine case, investigators have found. (

The Independent

Saudi Arabia has reportedly responded to the growing number of people fleeing the Middle East for western Europe - by offering to build 200 mosques in Germany. (