- Yellen, in back-to-back appearances, could close out era of zero rates (Reuters)
- ECB stimulus hopes keep Europe stocks at three-month high (Reuters)
- ECB to Test the Limits of Its Bond-Buying Program (WSJ)
- Watch for U.S. recession, zero interest rates in China next year, Citi says (Reuters)
- Euro’s Loss Being Yen’s Gain May Be Headache for BOJ (BBG)
- Yahoo Board to Weigh Sale of Internet Business (WSJ)
- Islamic State Prevents Civilians From Fleeing Iraqi City of Ramadi (WSJ)
- Hedge Funds Brace for Redemptions as Losses Engulf Marquee Firms (BBG)
- America's biggest gas field finally succumbs to downturn (Reuters)
- Three-Quarters of Asian Adults Financially Illiterate, S&P Says (BBG)
- How Big Food Is Using Natural Flavors to Win Consumer Favor (WSJ)
- Turning Exxon's Tiger Into Joe Camel Is Climate Camp's Gameplan (BBG)
- Citigroup Bonus Pool for Traders, Bankers Said to Stay Flat (BBG)
- Harvard's Sick of Losing to Yale and Has a Plan to Fix Endowment (BBG)
- Brazilian Bank BTG Says Esteves No Longer a Controlling Shareholder (BBG)
- Deutsche Bank Names Philippe Vollot Anti-Financial Crime COO (BBG)
- Buy More Stuff Becomes Reality as QE Hits the High Street (BBG)
Overnight Media Digest
WSJ
- Yahoo Inc's board is planning a series of meetings this week to consider selling off the company's flagging Internet businesses and how to make the most of its valuable stake in Chinese e-commerce powerhouse Alibaba Group Holding. (http://on.wsj.com/1RlkC0S)
- Facebook Inc Chief Executive Mark Zuckerberg and his wife, Priscilla Chan, said Tuesday that over the course of their lives they would give away 99 pct of their Facebook shares, now valued at $45 billion, in what would be one of the world's largest philanthropic gifts. (http://on.wsj.com/1RlkJts)
- Former BP PLC Chief Executive John Browne is building a new energy company that already has grown into one of the biggest independent European oil producers after two acquisitions. Now he is pursuing potential opportunities off the coast of Mexico and onshore shale properties in the U.S., the UK House of Lords member said. (http://on.wsj.com/1RlkZIV)
- U.S. new car sales in November continued to run at a blistering pace, putting the auto industry on track to challenge the 17.35 million sales peak reached in 2000. (http://on.wsj.com/1Rll3Z7)
FT
UK's Labour accused David Cameron of a "desperate slur" after the prime ,inister urged Tory MPs not to vote alongside "Jeremy Corbyn and a bunch of terrorist sympathisers" in Wednesday's debate on Syria.
Tensions between George Osborne and Theresa May over immigration have reignited after one of the home secretary's former aides, Nick Timothy, claimed the government was not serious about cutting the numbers entering the UK.
Private equity owner CVC Capital Partners has bought out Carlyle's stake in Britain's roadside recovery company RAC.
The Bank of England said on Tuesday it had no desire for new capital buffers and would seek to use its powers to strengthen lenders in good times rather than to tame the credit cycle, in a move that drew a line under the era of bank-bashing.
NYT
- Mark Zuckerberg, co-founder and chief executive of Facebook, announced on Tuesday that he and his wife would give 99 percent of their Facebook shares "during our lives" - holdings currently worth more than $45 billion - to charitable purposes. (http://nyti.ms/21u2iHf)
- The board of Yahoo will discuss potentially selling off the beleaguered Internet company's core business during a series of meetings this week, people briefed on the plans said on Tuesday. (http://nyti.ms/21u2l5X)
- Puerto Rico avoided its first major default by making payments of $354 million on its debt on Tuesday, but the island's governor said he had already taken steps to halt certain payments on other debt coming due on Jan. 1. (http://nyti.ms/21u2t5z)
- Volkswagen successfully lobbied to remove two key parts of Europe's forthcoming auto emissions tests, an internal email shows, including a provision to measure the significant pollution released when an engine is started but hasn't yet warmed up. (http://nyti.ms/21u2Dtv)
- A group called Global Energy Balance Network, led by scientists and created by Coca-Cola, announced this week that it was shutting down after months of pressure from public health authorities who said the group's mission was to play down the link between soft drinks and obesity. (http://nyti.ms/21u2FBT)
Canada
THE GLOBE AND MAIL
** Canada's effort to resettle 25,000 Syrian refugees from the Middle East is the subject of intense scrutiny in the region, Canada's ambassador to Jordan said, with Western diplomats watching whether the operation is a success - and looking to see whether the model is worth replicating. (http://bit.ly/1QSCuB7)
** Veterans Affairs is taking steps to solve a crucial statistical gap by planning to report on suicides of former military members annually starting in late 2017 - a move that will disclose, for the first time, how many veterans are taking their lives each year in Canada. (http://bit.ly/1Sw8lFr)
** Alberta will immediately make available an extra 2,000 antidote kits for the drug fentanyl and have new rules in place before the end of the year to allow first responders to administer the potentially life-saving treatment. (http://bit.ly/1N3nvy4)
NATIONAL POST
** Quebec politicians reacted angrily on Tuesday after a judge ruled that the provincial law legalizing euthanasia - set to come into force next week - is in "flagrant" conflict with the Criminal Code. (http://bit.ly/1lvi1oy)
** The Ontario government has been lauded around the world for its efforts to combat sexual violence and harassment, but the New Democrats and advocates charge it's failing to live up to those promises when it comes to domestic violence. (http://bit.ly/1TsEw9x)
** A Toronto coroner has decided not to hold an inquest into an incident in which an off-duty security guard shot and killed two men in an early-morning altercation at a McDonald's restaurant. (http://bit.ly/1lvi1oy) (Compiled by Abinaya Vijayaraghavan)
China
CHINA SECURITIES JOURNAL
- Chinese funds have raised 70.1 billion yuan ($10.96 billion) so far in November, up 166 percent from October, according to Chinese data centre Wind.
21th CENTURY BUSINESS HERALD
- China's securities margin financing net inflows hit 46.7 billion yuan in the week starting Nov. 23, a huge increase from 5.2 billion yuan the week before, according to China Securities Investor Protection Fund.
CHINA DAILY
- China aims to relocate 10 million people in the next five years to help lift them out of poverty, the country's vice premier Wang Yang said on Tuesday.
SHANGHAI DAILY
- The head of China's top music school has been sacked for violating the country's strict frugality code for public officials, the education ministry said on Tuesday. Wang Cizhao, director of the Central Conservatory of Music in Beijing, allegedly used his position to get a cut-price deal for his daughter's wedding.
Britain
The Times
* The Bank of England has called time on the financial crisis but warned lenders that they may have to set aside 10 billion pounds ($15.07 billion) of "rainy day" funds to shield them against the next market meltdown. (http://thetim.es/1XFpZaR)
* Neil Woodford's fund has suffered losses of $55 million - far greater than previously thought - in backing a cancer treatment company that is being sued by shareholders and has been accused of financial impropriety. (http://thetim.es/1MVKAVv)
The Guardian
* Barclays faces a higher than expected bill to recruit Jes Staley, who began his job as the bank's chief executive on Tuesday. (http://bit.ly/1HFgXck)
* George Osborne came under fire from MPs on Tuesday for refusing to admit that he plans to rely on a strong rise in net immigration to achieve a budget surplus at the end of the parliament. (http://bit.ly/1l6jgei)
The Telegraph
* England's housebuilders will not be able to build the homes the country needs, even by 2020, a former Bank of England policymaker has warned. (http://bit.ly/1l6jlyN)
* Almost 70 percent of shoppers plan to visit Aldi or Lidl for cheaper Christmas groceries this year in a further sign of the unstoppable rise of the discounters. (http://bit.ly/1NGD7NO)
Sky News
* Sky News understands that CVC Capital Partners has finalised a deal to acquire close to 50 percent of the RAC from Carlyle, a rival private equity group which bought the company in 2011. Sources said the two firms had agreed a transaction based on an enterprise value of about 2.2 billion euro ($2.34 billion). (http://bit.ly/1MVKgGl)
* A state-backed consortium of Chinese investors is buying a 13 percent stake in the owner of Premier League giants Manchester City. (http://bit.ly/1RkOVF6)
The Independent
* Clive Christian, producer of the world's most expensive perfume fell into the red prior to its sale to an investor group that includes private equity tycoon Jon Moulton, new accounts show.