- Democrat wins Senate seat in Alabama in blow to Trump (Reuters)
- Capital Journal: With Alabama Loss, Trump and GOP Face Political Reckoning (WSJ)
- Democratic Victory Stirs GOP Anxiety Over Midterm Elections (WSJ)
- Fed Expected to Raise Rates (WSJ)
- With rate hike in the bag, Fed may hint at Trump effect on economy (Reuters)
- Fed 2018 Dots in Focus for Yellen Swan Song: Decision Day Guide (BBG)
- GOP Eyes Cut for Top Earners, 21% Corporate Rate in Tax Plan (BBG)
- EU parliament backs starting next phase of Brexit talks (Reuters)
- Stocks Struggle Ahead of Fed Meeting; Bonds Fall: Markets Wrap (BBG)
- The date for next year's Italian general election has been set: reports (The Local)
- GOP to Grill Rosenstein on Anti-Trump ‘Bias’ in Mueller’s Probe (BBG)
- This Electric Truck Will Probably Beat Tesla’s to Market (WSJ)
- As U.S. Unwinds Web Rules, Industry's Voice Echoes the Loudest (BBG)
- Manhattan luxury condo sales skew apartment prices: survey (Reuters)
- Traders See No End to the Dollar’s Pain in 2018 (BBG)
- This English Town Backed Brexit. Now the Poles Are Leaving (BBG)
Overnight Media Digest
WSJ
- A career Justice Department lawyer Bruce Ohr was recently transferred from the deputy attorney general's office to another division because he failed to inform officials of a September 2016 meeting with the author of a controversial dossier on then-candidate Donald Trump.
on.wsj.com/2iUI6Pc- U.S. law-enforcement officials are investigating allegations of corruption in the awarding of the 2016 Olympic Games to Brazil. on.wsj.com/2iXIywc
- Facebook Inc plans to book more revenue in the countries where it sells ads, becoming the latest U.S. tech giant to bow to pressure from foreign governments to simplify its tax structure and potentially pay more income tax overseas. on.wsj.com/2j0oskB
- General Electric Co recently conducted an internal review into the flying of a spare business jet to accompany former Chief Executive Jeff Immelt, as it seeks to understand an unusual practice that went on for years and surprised investors when they learned of it in October. on.wsj.com/2iVG2pW
- A lawyer for President Donald Trump's eldest son, Donald Trump Jr., asked the House Intelligence Committee to open a "formal inquiry" into what he said were leaks by committee members or staff following the younger Mr. Trump's interview with the panel earlier this month. on.wsj.com/2iYVl1i
FT
- The developer behind popular shopping centres in London and New York Westfield Corp agreed to be acquired by France’s Unibail-Rodamco SE for $24.7 billion.
- Western Digital Corp and Toshiba Corp reached a deal to resolve a legal battle over Toshiba’s $18 billion sale of its prized memory chip to a private equity-led consortium.
- Interactive Brokers Group Inc will start to allow customers to bet against the cryptocurrency, giving its customers the opportunity to take bearish “short” positions on bitcoin futures.
- Shares of Boeing Co hit another record high after the company increased its quarterly dividend by a fifth and also announced an $18 billion share buyback programme.
NYT
- Walt Disney Co was closing on an all-stock transaction to cleave out most of the assets of Twenty-First Century Fox Inc, which is controlled by the Murdoch family, with an agreement possibly coming as soon as Thursday. nyti.ms/2yjMTii
- An enormous explosion rocked a major natural gas hub in Baumgarten, Austria on Tuesday, killing an employee, injuring at least 18 people and raising concerns about tightening supplies across Europe. nyti.ms/2ykEzyV
- Republican lawmakers, scrambling to reach agreement on a final tax bill that they hope to pass next week, are coalescing around a plan that would slightly raise the proposed corporate tax rate, lower the top rate on the richest Americans and scale back the existing mortgage interest deduction. nyti.ms/2C9piEc
- Crowdfunding firm Indiegogo started a new service to vet coin offerings, also known as Initial Coin Offerings, and then help sell them to small and large investors. nyti.ms/2nRwnpM
Canada
THE GLOBE AND MAIL
** The federal government is vowing to make it harder for companies that harm Canada's "economic interests" to win major contracts, starting with the C$26 billion ($20.2 billion) competition to provide 88 new fighter jets to the Canadian Armed Forces. tgam.ca/2Big7nu
** Canadian Imperial Bank of Commerce is considering listing its Caribbean banking subsidiary on U.S. stock markets, seeking options to redeploy resources away from a region that has been known as a risky place to do business. tgam.ca/2BkwkIw
** The World Bank said Tuesday it will stop virtually all lending for oil and gas projects in the developing world after 2019, sending a powerful message to global producers that financial institutions are reassessing the risks of fossil fuel development. tgam.ca/2BgtNix
NATIONAL POST
** Enbridge Inc, Canada's largest pipeline operator, warned its network of oil pipelines is reaching maximum capacity, on the day heavy oil prices collapsed after pipeline companies started rationing space to oil producers amid surging Western Canadian supplies. bit.ly/2Bj3hoK
** Cellphone service is getting cheaper for Canadians who want basic plans, but prices for larger wireless data packages remain high compared with other G7 countries, according to the government's 10th annual international price comparison report. bit.ly/2BiAocA
** Bombardier Inc has signed a US $724-million contract to supply 333 of its electric Aventra vehicles for a United Kingdom rail franchise as the Montreal-based company's train division braces for steeper competition due to a massive merger between its European rivals. bit.ly/2j10k1s
Britain
The Times
- Walt Disney Co is on the verge of clinching a deal to acquire a sizeable part of Rupert Murdoch's Twenty-First Century Fox Inc entertainment group in a deal worth about $60 billion that could be announced as early as Thursday. bit.ly/2iVJlgY
- The president of the European Commission Jean-Claude Juncker is embroiled in a new criminal investigation into claims that "tampered" evidence misled an inquiry into phone-tapping. bit.ly/2iYV66m
The Guardian
- The European Commission has announced funding of 9 billion euros ($10.57 billion) for action on climate change, one of a flurry of measures from governments, businesses and investors aimed at achieving the goals of the 2015 Paris agreement. bit.ly/2iTY7oq
- The British government has admitted households are feeling the pain from rising inflation after the cost of living rose to a near six-year high of 3.1 percent in November. bit.ly/2iVUJcE
The Telegraph
- Households and motorists have been warned to expect sharp rises in gas bills and petrol prices after the shutdown on Monday of the North Sea's most important oil and gas pipeline system. The problem was compounded by an explosion at a major processing facility in Austria that is the main point of entry for Russian gas into Europe. ?bit.ly/2iTUAGO
- Westfield Corp is to be acquired by France's Unibail Rodamco SE in a deal that will create a $72 billion retail property empire. bit.ly/2iUD6dd
Sky News
- The London-listed satellite company Avanti Communications Group Plc will take a big step towards shrinking its mammoth debts on Wednesday when it unveils plans to hand bondholders a $550 million equity stake. bit.ly/2iWnea5
- Around half of Ryanair Holdings Plc pilots based in Ireland are due to strike days before Christmas in a long-running dispute over workers' rights. bit.ly/2iZVQs5
The Independent
- UK's Financial Conduct Authority said on Tuesday it had published new rules which will require providers of personal and business current accounts to publish more information to help customers compare the service offered by different providers. ind.pn/2iUSOoC
