Next Update Dec. 1

QUICK OVERVIEW

• The European Commission has exercised historic new EU powers allowing it to revise national budgets for the first time.

• (Reuters) - The U.S. House of Representatives passed a controversial bill on Tuesday that would delay two government regulators from adopting rules requiring stock brokers and retirement account financial advisers to put their customers' interests ahead of their own.

• (USA Today) Most Americans say past global warming has been caused largely by human activities — ranging from a low of 65% in Utah to a high of 92% in Rhode Island. Most also back government curbs on greenhouse gas emissions from power plants — from 62% in Utah to 90% in New Hampshire.

• (Reuters) - Carbon dioxide injected into oil and gas wells may have caused a series of minor earthquakes in Texas long before the adoption of current hydraulic fracking.

• Deforestation in the Amazon increased by nearly a third over the past year, according to Brazilian government figures released on Thursday.

• The Environmental Protection Agency proposed to reduce the amount of ethanol in the nation's fuel supply for the first time. December corn fell 4.5 cents, or 1.1 percent, to $4.22 a bushel.

• Australia’s central bank left its benchmark interest rate unchanged at a record low and said a lower currency will be needed to achieve balanced growth.

• Crime rates will soar, economies will stagnate and Europe's social fabric will deteriorate if policymakers do not act to address youth unemployment, World Economic Forum report warns.

• General Electric Co (GE) will spin off its credit card business next year into a separately traded company as it tries to reduce its exposure to unpredictable financial businesses and return to its manufacturing roots.

• In Q3 Windows Phone accounted for nearly 10 % of all Smartphone sales in the EU 5 (France, Germany, Italy, Spain, the United Kingdom), research firm Kantar Worldpanel ComTech said. That's a double YoY - largely due to sales of Nokia's Lumia handsets.

• The board of directors of Kimberly-Clark (KMB) has proposed a spin-off of its healthcare business in order to focus on its consumer and professional brands.

Next Update Nov. 17

QUICK OVERVIEW

• Southern Europe is on a precipice Ambrose Evans-Pritchard 

• The Chicago purchasing managers index rose to 65.9% in October, the best performance since March 2011.

• At $680 billion, the U.S. federal government's latest annual deficit is the smallest since 2008.

• Globalstar (GSAT) NPRM To Enable Terrestrial Broadband Network in Licensed MSS Spectrum

• U.S. home prices posted their strongest gain in August for more than seven years, according to S&P/ Case-Shiller Home Price Indices the 10-City and 20-City Composites posted a 12.8% growth rate YoY, the highest increases since February 2006.

• Starbuck’s raised its quarterly dividend 24% to 26 cents a share.

• Eurozone's CPI is at a 4-year low in September

• Spain Retail Sales (YoY) improves to 2.2% in September from -4.5% in August

• Iran's inflation hits 36.2%

• YoY Indonesia's inflation eases to 8.32% in Oct

• World Bank: ‏Over the next 20 yrs, South Asia countries will add 1 million new people to the global labor force every month.

• YoY Asia's cocoa grindings rose 12% to 161,097 tonnes in Q3, while North American cocoa grindings rose 8.25% to their highest since at least 2009.