- Mario Draghi Is About to Become the World's Market Risk Manager (BBG)
- Five Things to Ask Mario Draghi From Negative Rates to QE (BBG)
- Leaving behind baby and bombs, couple sows panic in California (Reuters)
- Couple's motive in California rampage a mystery for police, family (Reuters)
- In Grim Ritual, Barack Obama Again Calls for Stricter Gun Control After Mass Shooting (WSJ)
- Islamic State Defeat Impossible Without Ground Force, Kerry Says (BBG)
- OPEC States Push for Output Cuts in Face of Saudi Opposition (BBG)
- British bombers strike Islamic State oil fields in Syria (Reuters)
- Brimstone Missiles Target Islamic State as U.K. Joins Syria War (BBG)
- Turkey dismisses 'Soviet propaganda', says trying to secure Syria border (Reuters)
- Feds Win Fight Over Risky-Looking Loans (WSJ)
- Brazil Signals Rate Rise on the Radar as Impeachment Starts (BBG)
- Migrant dies on Greek-Macedonian border in second day of clashes (Reuters)
- YouTube Seeks Streaming Rights to TV Shows, Movies (WSJ)
- World food prices fall 1.6 percent in November: FAO (Reuters)
- IRS Loses Hundreds of Criminal Agents as Tax Cheats Take Heart (BBG)
- Iran renews oil contracts with China, taps new buyers (Reuters)
- Satellite photos show North Korea digging new nuclear tunnel (Reuters)
- Swiss police arrest two as FIFA corruption scandal deepens (Reuters)
- BOJ's Kiuchi doesn't expect CPI to accelerate, worries about QE risks (Reuters)
- 'Blade Runner' Pistorius found guilty of murder (Reuters)
Overnight Media Digest
WSJ
- Alphabet Inc's YouTube is seeking streaming rights to TV series and movies to bolster its new subscription service, intensifying its rivalry with Netflix Inc, Amazon.com Inc and Hulu in the competitive market for online video. (http://on.wsj.com/1TxPLxm)
- McDonald's Corp will become the fourth U.S. multinational to be targeted by European Union regulators as part of a widening investigation into alleged illegal tax deals, two people familiar with the matter said Wednesday. (http://on.wsj.com/1TxQ8b9)
- Several potential suitors are emerging for Yahoo Inc's core Internet business, from media and telecommunications giants to private equity firms, among the companies that would likely explore a purchase are Verizon Communications Inc and Barry Diller's IAC/InterActive Corp, according to people familiar with the matter. (http://on.wsj.com/1TxQLlh)
- Qualcomm Inc said it reached a patent-licensing deal with Xiaomi Corp, one of China's largest smartphone makers, a sign of progress in easing the chip maker's struggles in the country. (http://on.wsj.com/1TxRaUx)
FT
Britain is set to launch air strikes against Isis extremists in Syria within hours after MPs endorsed by a majority of 174 David Cameron's plan to bomb what he called "medieval murderers".
Publicis has taken what is seen as the clearest step yet towards choosing Maurice Lévy's successor, in effect naming a shortlist of candidates to replace the man who has led the advertising group for 28 years.
Jaguar Land Rover is examining a bid worth tens of millions of pounds to buy Silverstone, Britain's best known racing circuit, according to documents seen by the Financial Times.
The Office for National Statistics urgently needs to change its culture if Britain's statistics are to remain fit for purpose, according to an official report by Sir Charlie Bean, a former deputy governor of the Bank of England.
NYT
- Janet Yellen, the Federal Reserve chairwoman, said on Wednesday that economic conditions were ripe for the Fed to start raising its benchmark interest rate this month, a move that appears all but inevitable barring a sharp change in the economic weather. (http://nyti.ms/1YJG2Hi)
- A federal judge has broken with what has been standard practice in the government's multiyear crackdown on insider trading in the hedge fund industry by sentencing a major cooperating witness to spend time in federal prison as opposed to a probationary sentence. (http://nyti.ms/1YJG55I)
- About 30 food companies on Wednesday announced plans to add scanable codes to their packaging that consumers could use to get information about ingredients, allergens and nutrition. (http://nyti.ms/1YJGHs6)
- New official data showed that the Eurozone's dangerously low inflation rate remained at an annual pace of 0.1 percent in November. The European Central Bank's policy board is expected to expand the stimulus program that it began in March - so far with little to show for it. (http://nyti.ms/1YJIfT5)
- Andre Esteves, long the force behind BTG Pactual , ceded financial control in the firm he founded to a group of seven partners, the Brazilian investment bank said in a regulatory filing on Wednesday. (http://nyti.ms/1YJIjlQ)
Canada
THE GLOBE AND MAIL
** Ontarians have paid $37 billion more than market price for electricity over eight years and will pay another $133 billion extra by 2032 as a result of haphazard planning and political meddling, a report from the Auditor-General says. (http://bit.ly/1Sx9VH5)
** For the first time ever, a Canadian company has broken the $10 billion annual profit barrier. But beneath the surface of Royal Bank of Canada's 2015 earnings are troubling signs that growth in the Canadian banking sector is slowing to a crawl. (http://bit.ly/1QVXVRL)
** Half of Canadians believe it's understandable if an employer thinks it's too risky to hire someone with a physical disability, according to a new survey by the Angus Reid Institute and the Rick Hansen Foundation. (http://bit.ly/1QgPPlc)
NATIONAL POST
** Canadians outside Quebec have privately sponsored at least 4,511 Syrian refugees in bids to bring them into Canada. The sponsors include Canadians from 65 communities across the country. Central Toronto tops the list with 1,326 sponsorship applications being processed. Willowdale, a neighborhood in north Toronto, comes in second at 1,079. Calgary is third with 502 applications. (http://bit.ly/1QVYafr)
** John Tory's promise to keep property tax increases at or below the rate of inflation hangs by an arithmetical and rhetorical thread after a midday Wednesday speech for the Economic Club of Canada. (http://bit.ly/1RpdznP)
China
CHINA SECURITIES JOURNAL
- Investment by Chinese enterprises in "One belt one road" projects in 49 different countries hit 13.2 billion yuan ($2.06 billion) during the first 10 months of 2015, up 36.7 percent on-year, said the spokesperson of China Ministry of Commerce Shen Danyang on Wednesday.
21ST CENTURY BUSINESS HERALD
- The retirement age in China will be raised to 65 in 2045, according to a report released by Chinese Academy of Social Sciences on Wednesday.
NATIONAL BUSINESS DAILY
- Loans made by Chinese P2P firms hit 133.1 billion yuan in November, up 11.26 percent from October, according to a monthly report released by information website wdzj.com on Dec 1.
CHINA DAILY
- Customs officers in Yunnan confiscated over 56 kilograms of methamphetamine after busting three attempts to smuggle the drugs across the border in the last four months, according to a statement released by officers.
Britain
The Times
* Markets are poised for fresh stimulus from the European Central Bank today after inflation in the eurozone failed to budge in November. (http://thetim.es/1MXfEV9)
* Nissan Motor Co Ltd in Sunderland, is under threat in an increasingly toxic row between the Japanese company and the French government. More than 7,000 jobs are at risk, as well as hundreds more at Nissan's design facilities in Paddington, central London, and its engineering centre in Cranfield, Bedfordshire, should Paris go ahead with plans to take control of more than 30 percent of Renault SA (http://thetim.es/1IFhQMI)
The Guardian
* The European commission is to open a state aid investigation into suspected sweetheart tax arrangements enjoyed by McDonald's in Luxembourg. (http://bit.ly/1lwsgcd)
* The luxury yacht manufacturer Fairline Boats has gone into administration just two months after being acquired by the private equity firm Wessex Bristol - putting 450 jobs at risk. (http://bit.ly/1XIdF9V)
The Telegraph
* Property surveyor Sweett Group has admitted its staff paid bribes to win business in the Middle East. The company told investors it had admitted an offence of "failing to prevent an associated person bribing another to obtain or retain business for the company" under the Bribery Act and expected to be prosecuted by the Serious Fraud Office. (http://bit.ly/1RnWTgJ)
* Marks & Spencer has lost a legal battle against its former landlord BNP Paribas SA after the Supreme Court dismissed its appeal to return 1.1 million pounds ($1.64 million) of rent it claims to have overpaid.(http://bit.ly/1O3Gl86)
Sky News
* Beleaguered supermarket chain Morrisons is to be relegated from the FTSE 100 Index after 14 years, it has been confirmed. (http://bit.ly/1OH2PyH)
* The National Advice Clinic, based in Lancashire, was ordered to pay 850,000 pounds for making six million nuisance calls in just seven months in what was described as a "deliberate and sustained" campaign. (http://bit.ly/1lwXiAQ)
The Independent
* Nearly two out of three British workers expect to be working beyond 65 mainly because they will not have enough money to retire, according to a study by employment benefits consultancy Portus. (http://ind.pn/21vjz30)
* Generous credit and debit card rewards schemes took a step closer to disappearing today as the Payment Systems Regulator set out how the new cap on fees plastic card companies can charge retailers will be policed. (http://ind.pn/1IpUjVm)