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Frontrunning: November 6

  • Gunman kills 26 in Texas (Reuters)
  • Trump Urges Japan to Buy More U.S. Military Equipment (WSJ)
  • Ex-Catalan leader granted freedom to campaign for independence (Reuters)
  • House begins revising Republican tax bill to quell dissent (Reuters)
  • Why the Next Four Days Will Be Crucial for the GOP Tax Bill (BBG)
  • Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion (Reuters)
  • Billionaire Olayan Family Said to Put Saudi IPO Plan on Hold (BBG)
  • How Doctors Are Getting Rich on Urine Tests for Opioid Patients (BBG)
  • Oil hits two-and-a-half year peak on Saudi purge, world shares retreat (Reuters)
  • Russia's Sibur, on deals with Navigator, says no sanctions violations found (Reuters)
  • Manafort Claims Worth of $28 Million But Mueller Has His Doubts (BBG)
  • Prosecutors: Manafort needs to detail finances further in bail talks (Reuters)
  • Goldman, Chinese Wealth Fund Set to Invest Billions in U.S. (WSJ)
  • Trump Jr. Hinted at Review of Anti-Russia Law, Moscow Lawyer Says (BBG)
  • Bank Bets Tied to Government Bailouts Soar Up to 1470% (WSJ)
  • Iceland's leftist opposition fails to form government (Reuters)
  • Mattis backs Geneva process on Syrian conflict (Reuters)
  • The Future Is Dodgeball (WSJ)
  • Greenwich Riches, Bridgeport Woes Tell Tale of Two Connecticuts (BBG)

Overnight Media Digest

WSJ

- A young man clad in black and wearing a ballistic vest blasted his way into a Baptist church in this south Texas town on Sunday with an assault-type rifle, leaving at least 26 people dead and 20 others injured. on.wsj.com/2iyTVtU

- U.S. Commerce Secretary Wilbur Ross failed to disclose business connections to Russian President Vladimir Putin's family and inner circle on a required personal financial-disclosure form earlier this year, according to documents released over the weekend. on.wsj.com/2ixNcQK

- Qatar Airways Co is buying a stake in Cathay Pacific Airways Ltd for $661 million, the latest in a string of investments in global rivals by the Middle East carrier. on.wsj.com/2h8bgJK

- A sweeping weekend roundup of more than five dozen princes, ministers and prominent businessmen in Saudi Arabia marks a dramatic escalation in the crown prince's effort to consolidate power and accelerate far-reaching change in the kingdom. on.wsj.com/2h8bikQ

- The president of the Federal Reserve Bank of New York is set to announce he will retire next year, about six months earlier than scheduled, adding to an unusual wave of turnover among the central bank's top monetary and regulatory decision makers and ushering in new uncertainty about its policy course. on.wsj.com/2h8bArW

- The U.S. Justice Department and Federal Bureau of Investigation are investigating three international banks for their roles in selling about $2 billion of debt for Mozambique, opening a new phase in the global inquiry into the bond deals, people familiar with the matter said. on.wsj.com/2h9VqOx

 

Britain

The Times

* Britain's premier business body has complained that the government's industrial strategy has been too long coming and that ministers have been unclear on what they are trying to achieve.bit.ly/2An1tYO

* A huge surge in trade with the Channel Islands and offshore tax havens has prompted calls for the government to explain the source of the growth amid concerns that it is masking the importance of trade with the European Union. bit.ly/2AkjGGa

The Guardian

* The new Marks and Spencer chairman Archie Norman has told senior managers that the retailer needs to cut clothing prices and that too much of its fashion is aimed at the over-55s.bit.ly/2Am7uEU

* Britain's biggest rail franchise, which includes the strike-hit Southern service, is likely to be broken up when it expires in 2021, the government has said. bit.ly/2AmmT84

The Telegraph

* Plans for a blockbuster float of Saudi Arabia's national oil explorer, Saudi Arabian Oil company IPO-ARMO.SE, could be thrown into further doubt after one of the company's board members was arrested as part of a corruption crackdown in the Gulf state. bit.ly/2AngdH6

* The Church of England's investment arm has called for the mining industry to review tailing dams and the governance of joint ventures in the wake of the Samarco mine disaster.bit.ly/2AkC7dL

Sky News

* Officials from Bank of England contacted other accountancy firms in recent days to signal a contest that will threaten KPMG's hold on a position it has held since just before the run on Northern Rock in 2007, according to Sky News. bit.ly/2AmfeH1

The Independent

* Saudi Arabia has arrested 11 princes, four officials and tens of former officials as part of a sweeping anti-corruption probe which further cements control in the hands of its young Crown Prince, Mohammad bin Salman. ind.pn/2Amnzu8

 

NYT

- President Donald Trump urged Saudi Arabia to pick the Big Board as the international venue for the initial public offering of Saudi Arabian Oil Co (IPO-ARMO.SE). "I want them to strongly consider the New York Stock Exchange or Nasdaq," he said at Yokota Air Base after arriving in Japan for a 12-day tour through Asia. nyti.ms/2iyDA8n

- William Dudley, the president of the Federal Reserve Bank of New York and a vocal proponent of improving the "culture" at big banks, was expected to announce his retirement as early as this week, according to two people familiar with the decision. nyti.ms/2h6dn0B

- Google and others, fighting for a small pool of researchers, are looking for automated ways to deal with a shortage of artificial intelligence experts. nyti.ms/2h7kHZX

- A midnight blitz of arrests ordered by the crown prince of Saudi Arabia over the weekend has ensnared dozens of its most influential figures, including 11 of his royal cousins, in what by Sunday appeared to be the most sweeping transformation in the kingdom's governance for more than eight decades. nyti.ms/2iz3glj

- After becoming commerce secretary, Wilbur Ross Jr. retained investments in a shipping firm he once controlled that has significant business ties to a Russian oligarch subject to American sanctions and President Vladimir Putin's son-in-law, according to newly disclosed documents. nyti.ms/2h4Vqj4