Financial Markets and Economy
The Brexit economy: falling pound and rising inflation fuel fears of slowdown (The Guardian)
The British economy’s post-Brexit vote bounce is losing momentum as the weak pound and higher inflation herald a squeeze in living standards, according to a Guardian analysis.
S&P 500 Skew Unwind Shows Complacency Over Clinton Win: Analysis (Bloomberg)
The U.S. election premium is evaporating from S&P 500 options. Even as the shock Brexit result stays fresh in investors’ minds, SPX term structure is turning relatively smoother with skews declining as opinion polls show Clinton may triumph over Trump, Bloomberg strategist Tanvir Sandhu writes.
Oil is slipping (Business Insider)
Oil is dipping on Monday morning after Iraq signaled it does not want to take part in an OPEC production cut deal.
Bitcoin Jumps to Three-Month High as Yuan Weakness Fuels Buying (Bloomberg)
Bitcoin rose to an almost three-month high amid a surge in volume as the yuan extended a six-year low, bolstering Chinese demand for alternative assets.
Idea Profit Misses Estimates as Data Tariff Cut Amid Competition (Bloomberg)
Idea Cellular Ltd. posted profit that missed analyst estimates as India’s third-largest carrier cut data tariff amid intensifying competition from a rival backed by the country’s richest person.
Brazil's Real Rises as Temer Seeks Support for Spending-Cap Bill (Bloomberg)
Brazil’s real rose to a 10-week high as President Michel Temer canvassed support for a bill to cap spending while a rise in raw-material prices boosted currencies of commodity-producing nations.
Germany is driving the European economy again (Business Insider)
Germany is once again the driving force of the European economy, helping boost composite growth across the continent to a 10-month high, according to the latest PMI data released by Markit on Monday morning.
Why Wall Street doesn't like the AT&T – Time Warner deal (CNN Money)
Now comes the tough part — convincing skeptical investors that the deal won't be the second coming of AOL Time Warner.
This October still has a chance to look like the month we know and fear (Market Watch)
This is not the October we’ve come to know. And that’s not just because of the Chicago Cubs are still playing. No, these just haven’t felt like October markets.
Dollar shortages return, but this time there’s no Marshall Plan (Market Watch)
CAMBRIDGE, Mass. (Project Syndicate) — Immediately after World War II ended, a new phrase entered the economic lexicon: “dollar shortage.” European economies were coping with extensive war-related damage and a broad array of impediments to their efforts to rebuild their industrial base.
Companies
China’s HNA Group to Buy 25% Stake of Hilton (The Wall Street Journal)
Chinese conglomerate HNA Group said Monday it plans to buy a roughly 25% stake in Hilton Worldwide Holdings Inc. from Blackstone Group L.P. for $6.5 billion, the latest move into American real-estate assets by a Chinese firm.
North Face Owner Falls After Calling Retail Climate ‘Sluggish’ (Bloomberg)
VF Corp., owner of the North Face, Wrangler and Nautica clothing brands, fell in early trading after saying a “sluggish” domestic retail environment will weigh on earnings this year.
Burger King Owner’s Profit Tops Estimates as Bargains Help Sales (Bloomberg)
Restaurant Brands International Inc., which owns Burger King and Tim Hortons, posted third-quarter profit that topped analysts’ estimates as new items and discounts at the burger chain lured customers.
J.P. Morgan gives up on key 2016 call and turns toward Europe instead (Market Watch)
J.P. Morgan is backing away from its key overweight call of 2016, cutting its U.K. stock position to neutral and turning more upbeat on eurozone equities.
Technology
Volkswagen Needs to Convince EU That Damaged Cars Will Be Fixed (Bloomberg)
Volkswagen AG is facing renewed pressure to repair the damage caused by its diesel emissions scandal, with the European Union calling on the carmaker to start compensating affected consumers and show clear proof that vehicles will be fixed within the coming year.
T-Mobile Beats Estimates as Customer Growth Outpaces Verizon (Bloomberg)
T-Mobile US Inc. posted profit that exceeded analysts’ estimates, a sign that the third-largest U.S. carrier is managing to lure new customers with lower prices without punishing the bottom line.
Apple Q4 earnings expected to reveal first annual revenue decline since 2001 (Venture Beat)
The company will likely confirm that this streak has come to an end when it reports fourth-quarter earnings tomorrow. For the fiscal year 2016, ending Sept. 30, analysts’ estimates anticipate that Apple will disclose $215.67 billion in annual revenue. That would be down from the $233.72 billion it reported for fiscal year 2015.
Apple's iPhone Share Is Static But iPad Is Tumbling (Fortune)
Apple’s iPhone is holding steady, but in the United States, the company’s iPad is falling out of favor, according to new data from research firm eMarketer.
Workers will simply try to survive, rather than prosper, as tech takes over the economy (Market Watch)
For most people, a secure, well-paid job is the difference between a reasonable life and penury. Today, changes in the structure of the work force driven by globalization and technology make this objective increasingly elusive.
UK games retailer charges for its PSVR demos (Engadget)
Still not sold on VR? Got a PS4? But still not sure? Then you should probably test it out before laying down the hundreds of dollars (or pounds) the peripheral costs. But you probably shouldn't have to pay to do so. But that's exactly what UK retailer Game is doing, charging £5 (just over $6) for ten minutes of neck-craning and open-jawed gaming. You can also pay £15 for 30 minutes. Deal?
Samsung bundles S Pen stylus with a refreshed Galaxy Tab A 10.1″ tablet, available on October 28 for $350 (Venture Beat)
Samsung has announced a slightly refreshed version of its Galaxy Tab A 10.1″, and the company has also revealed it will now bundle its S Pen stylus with the tablet when it goes on sale later this week.
Uber Is Launching its Own Debit Card (Fortune)
Uber UBER 0.00% has partnered up with MasterCard MA 0.25% and Mexican online bank Bankaool to launch a debit card in Mexico.
Politics
Clinton And Trump Ducked The Debate's Hardest Question, And It Wasn't On Emails, Groping, Or Rigging (Forbes)
About a third of the way into the final presidential debate, moderator Chris Wallace asked a question that neither candidate seemed to want to answer in full. And interestingly, it was hardly a gotcha-kind of question, and the exchange that followed has not drawn much attention. It was about a politician’s bread and butter: improving the economy.
Hillary Clinton's lead in polls surges as campaign enters final stretch – live (The Guardian)
Trump camp admits uphill battle as Clinton looks down-ballot.
Yes, Trump Really Is Saying ‘Big League,’ Not ‘Bigly,’ Linguists Say (NY Times)
Donald J. Trump has said almost too many controversial things to count during the course of his presidential campaign, but over the last few months one turn of phrase has inspired more online curiosity than fervor: the word “bigly.” Or was that “big league?” Or maybe both?
Donald Trump’s Visit to Mexico Could Have Gone Better, President Peña Nieto Says (TIME)
"Could we have done things better? Maybe yes, admittedly"
Mexican President Enrique Peña Nieto stands by his decision to host Republican presidential nominee Donald Trump for a meeting a couple months ago, but admitted Sunday the visit could have been better executed.
Obama to endorse 30 more House candidates (Politico)
LA JOLLA, Calif. — President Barack Obama is endorsing 30 more House candidates Monday, expanding his effort to use his rising popularity to help Democrats looking to flip or hold swing districts across the country — and crush them under the association with Donald Trump.
Why We Don’t Know Who Will Vote (TIME)
If you only read one thing: You’ve read and heard commentary for months about how this election features the two most historically disliked nominees in history—and that’s really changing the way people vote.
Health and Biotech
Addiction to prescription drugs is UK ‘public health disaster’ (New Scientist)
Addiction to prescribed medicines could be as big a problem in the UK as addiction to illegal drugs like heroin. So say a group of UK doctors and politicians, who have called for urgent action to help people who get hooked on painkillers, antidepressants and anti-anxiety medicines like Valium.
Some medical treatments are pointless. But will patients want to know? (The Guardian)
Imagine going to a doctor with a broken foot, say, or a bad back, or in a worst-case scenario, cancer, and being told that doing nothing would be the best course of action? Naught, zero, forget about it, go home – it hardly sounds like heartening advice.
Life on the Home Planet
United Airlines flight UA76 prepares for emergency landing in Ireland (The Guardian)
A United Airlines flight is still burning off fuel over Ireland’s western seaboard as it prepares for an emergency landing in the Irish Republic.
The scheduled flight from Belfast international airport to Newark had to be diverted to Shannon airport after the crew found problems with the jet’s nose and landing gear, it is understood.
France clears 'Jungle' migrant camp in Calais, children in limbo (Reuters)
France began clearing the sprawling "Jungle" migrant camp on Monday as hundreds gave up on their dreams of reaching Britain, a tantalizingly short sea crossing away.
Following sporadic outbreaks of unrest overnight, the migrants chose instead with calm resignation to be relocated in France while their asylum requests are considered.
Battle for Mosul can shape or break Iraq further (Reuters)
It has taken two years of training a demoralized army, backed up by the air cover and special forces of the world’s greatest powers, for Iraq to mount an offensive to recapture Mosul from Islamic State.
Philippines police plan new phase in drugs war – sources (Reuters)
Signaling a shift in strategy in its blood-soaked war against drugs, Philippines police aim to reduce the killing of suspects and put more resources into arresting prominent people tied to the trade, two sources with knowledge of the matter said.
Brazil plans to waive visas for visitors from U.S., Japan (Reuters)
Brazil's government is considering waiving visas for visitors from the United States, Japan, Canada and Australia to boost tourism, and could eventually extend the plan to include China, a tourism ministry spokesman said on Monday.
