European shares hammered after commodity rout (Reuters) Euro-Area Growth Misses Estimates as ECB Ponders More Stimulus (BBG) Slower-than-expected euro zone growth likely to seal more ECB stimulus (Reuters) China Doubles Margin Requirement for Stocks to Curb Leverage (BBG) IEA Says Record 3 Billion-Barrel Oil Stocks May Weaken Prices (BBG) GM to Import Chinese-Made Buick SUV (WSJ) China's Troubled Credit Swells to Sweden-Sized $628 Billion (BBG) LoanDepot Postpones IPO (WSJ) Volkswagen, Offering Amnesty, Asks Workers to Come Forward on Emissions Cheating (NYT) China apparent steel consumption falls 5.7 percent from January-October (Reuters) Sweden checks trains for migrants in first border controls in 20 years (Reuters) Secretive, Sprawling Network of ‘Scouts’ Spreads Money Through Silicon Valley (WSJ) Fed's Fischer Says Waiting to Raise Helped Offset Dollar Harm (BBG) Warren Buffett Has an Image Problem (WSJ) Deputy head of China securities regulator probed for graft (Reuters) Syngenta Shares Rise on Report of Chinese Takeover Interest (WSJ) Is Wall Street Beneath Business Students' Standards? (BBG) Frontline terminates long term charter for tanker Mindanao (Reuters) El Nino Might Not Save Us From Another Miserable Winter (BBG) Special Report: Trump's art of the deal - Dispute your bills (Reuters) What to Watch for at the G-20 Summit (BBG) Overnight Media Digest WSJ - China's crackdown on alleged misdeeds by traders escalated recently, as officials went after one of the country's well-known fund managers and his family members. In the past 10 days, authorities have gone from detaining Xu Xiang, who runs Shanghai-based Zexi Investment, for alleged insider trading and stock-price manipulation, to freezing stock holdings valued at more than $1 billion, which were owned by his parents. (http://on.wsj.com/1PF3bHn) - General Motors Co, fresh off agreeing to a new union contract that is expected to drive up its United States labor costs, plans to become the first major auto maker to sell China-made cars in the United States. The nation's leading auto maker by sales, early next year plans to start selling the Buick Envision, a midsize sport-utility vehicle made in Shandong province. (http://on.wsj.com/1HKtFkk) - Britain and India looked to reboot a bilateral relationship that some say isn't living up to its full potential, with plans to intensify collaboration in finance, business, defense, and energy as Indian Prime Minister Narendra Modi made his first official visit to Britain. (http://on.wsj.com/1HLEuCQ) - There is near-unanimous agreement among private forecasters surveyed that the Federal Reserve will begin raising short-term interest rates next month after holding them near zero for seven years. About 92 percent of the business and academic economists polled by Wall Street Journal said they expected the Fed to raise its benchmark federal-funds rate at its Dec. policy meeting. (http://on.wsj.com/1GYuOu2) - Mylan NV is poised to lose its hostile bid for Perrigo Co, a rare outcome in one of the bitterest takeover battles in decades. A minority of Perrigo shareholders tendered their stock into Mylan's $26 billion takeover proposal by late Thursday night. (http://on.wsj.com/1WVtARR) - Human resources startup Zenefits Inc is falling short of its aggressive revenue targets and has started to curb expenses, making it the latest highly valued venture-backed company struggling to meet investor expectations. Since late summer, Zenefits has frozen hiring in certain departments as sales teams have repeatedly missed targets. (http://on.wsj.com/1Y7U6dd) - Two U.S. B-52 bombers flew near a cluster of Chinese-built artificial islands in the disputed South China Sea this week, United States officials said, in the latest of a series of American challenges to Beijing's maritime claims. The aircraft took off from Andersen Air Force Base on the Pacific island of Guam and flew around the Spratly Islands on November 8, U.S. Army Major Dave Eastburn said. (http://on.wsj.com/1RSN8VR) FT Cisco's new chief executive Chuck Robbins said that the acquisition deal between Dell and EMC, the largest ever deal attempted in the technology industry, would not prompt them to change their strategy. Instead, Robbins said his company would look for "small strategic acquisitions", ruling out any possibilities of Cisco taking over NetApp Ingo Speich, a senior portfolio manager at Union Investment, which holds 0.5 percent of Volkswagen AG's preference shares, has called for the removal of Matthias Muller, the German carmaker's recently appointed CEO. "It would be far better to have new, fresh people in the management board and the supervisory board to gain back trust from the capital markets," Speich said. Airbnb will launch a variable pricing model for its rentals to meet demand for accommodation, that has outstripped supply. Airbnb's founder admitted that "the nature of the competition has changed," and the co.'s response is to speed up on its home-sharing market rather than diversify into other services. Microsoft CEO Satya Nadella said that the company would build new data centres in Germany under a new "trustee" model, where servers of Microsoft would host customer information but the facilities would be operated upon by a subsidiary of Deutsche Telekom. This would help keep the data away from U.S. surveillance. NYT - Volkswagen, trying to get to the bottom of its emissions-cheating scandal, on Thursday pressured employees to tell what they know, announcing an amnesty program for informants that will expire by month-end. (http://nyti.ms/1MZPCn3) - Federal Reserve officials, poised to start raising the central bank's benchmark interest rate in December, are turning from the question of whether to act to how quickly the Fed should raise rates thereafter. (http://nyti.ms/1NtZcJs) - Citigroup Inc, as it begins to retool its retail operations and tries to revamp its image in the United States, is borrowing ideas from its overseas branches. The bank has begun a rollout of a futuristic "smart branch" model in Manhattan that jettisons the usual branch features in favor of digital services that are more in keeping with the atmosphere of an Apple store. It already has 100 such locations in Europe, Asia and Latin America. (http://nyti.ms/1HLJNlP) - Massachusetts' securities regulator is taking aim at an affiliate of American Realty Capital, accusing it of faking proxy votes for a September shareholder meeting that was crucial to the planned $378 million sale of American Realty businesses to the private equity giant Apollo Global Management.(http://nyti.ms/1O6sXCR) Canada THE GLOBE AND MAIL ** Canadian Prime Minister Justin Trudeau will use his first international trip as an opportunity to show other nations there is an economic - as well as humanitarian - case for welcoming large numbers of Syrian refugees. Mr. Trudeau will participate in a summit of G20 leaders hosted by Turkey. (http://bit.ly/1MrFcXR) ** In what has become an annual ritual, Toronto's police board has approved a budget increase following deliberations that largely ignored the major driver behind ballooning police costs. The C$1.006-billion ($757.53 million) budget approved Thursday is up 2.76 per cent from last year and up about 35 per cent from a decade ago. (http://bit.ly/1HM8ZIN) ** Suncor Energy Inc stepped up its attack on Canadian Oil Sands Ltd, accusing the company's board and management of "misleading spin" and warning its investors that a rejection of the hostile takeover would trigger a collapse in the bid target's stock price. (http://bit.ly/1O6LTRV) NATIONAL POST ** Two companies with enormous cash hoards are capitalizing on a tough gold market and buying assets from Barrick Gold Corp . Miner Kinross Gold Corp and private equity player Waterton Global Resource Management LP have agreed to pay Barrick a combined $710 million for assets across Nevada. (http://bit.ly/1QzX3B4) ** Encana Corp will push "pause" on a natural gas processing plant in northwestern Alberta until the results of a provincial royalty review are in and spend its money in Texas instead. (http://bit.ly/1QzX5ZN) China SHANGHAI SECURITIES NEWS - Bad loans at China's commercial banks rose to 1.2 trillion yuan ($188.4 billion) by end of September, an increase of 94.4 billion yuan against the previous quarter. The non-performing loan (NPL) ratio was 1.59 percent, according to company filings. 21st CENTURY BUSINESS HERALD - Total electricity consumption in October fell 0.24 percent versus 2014, a National Development and Reform Commission spokesman said on Thursday, adding that it was linked to a decline in energy-intensive industries. CHINA DAILY - Chinese police have detained more than 900 people in a six-month-long crackdown against online crime, said Ministry of Public Security on Thursday. - China will penalize over 110 companies, based in northeast China, who failed to reduce pollution levels, the country's environment watchdog said on Thursday. Some cities in the northeast region saw a spike in air pollutants, over 50 times the level considered safe by World Health Organization. SHANGHAI DAILY - Shanghai police said on Thursday they had detained a man for allegedly defrauding U.S. ride-hailing platform Uber Technologies of 90,000 yuan ($14,131), by providing rides for fake passengers to claim bonus payments from the firm. Britain The Times Britain's aerospace and defence industry has lurched into crisis as Rolls-Royce put out another devastating profit warning while BAE Systems announced the loss of hundreds of jobs in Lancashire because of the lack of orders for the Eurofighter Typhoon. (http://thetim.es/1iY2U5J) Bank of England's Andy Haldane told the Trade Union Congress that millions of jobs could be at risk from automation, with those most vulnerable working in the administrative, clerical and production sectors and among the low paid. (http://thetim.es/1iY2Xy8) The Guardian Shares in mining giant BHP Billiton have fallen to new 10-year lows after Brazil imposed an initial fines of 250 mln reais ($66.2 mln) on its co-owned operation where two dams burst, killing at least seven people and coating a two-state area with mud and mine waste. (http://bit.ly/1iY36lk) Xeros, a British technology group that specialises in "waterless" washing machines, has announced plans to raise 40 million pounds ($60.90 million) from shareholders for its further development. (http://bit.ly/1iY3alc) The Telegraph Tax experts have warned that plans to merge HM Revenue & Customs' local offices into 13 hubs could "stretch HMRC to breaking point", as staff are told 137 sites will be closed over the next decade. (http://bit.ly/1iY3hwQ) Mario Draghi has hinted that Britain's demands to renegotiate its relationship with the EU will have an impact on how the European Central Bank conducts monetary policy. (http://bit.ly/1iY3iAU) Sky News The Bank of England's chief economist has warned that the UK's "economic aircraft appears to be losing speed on the runway". Andy Haldane also repeated his case for a possible interest rate cut rather than a rise, given headwinds in the global economy which have knocked confidence in the UK. (http://bit.ly/1iY3mRi) British Prime Minister David Cameron has pledged to create a "modern, dynamic partnership" and said 9 billion pounds of trade deals are being signed by UK and Indian companies this week. They include a 1.3 billion pounds ($1.98 billion) investment in India by Vodafone. The Independent Families hit by George Osborne's tax credit cuts should "go without" certain things like subscriptions to television services, Conservative party minister Tracey Crouch has said. (http://ind.pn/1iY3CzK) The ISIS militant group has released a new video via its foreign language propaganda wing, the al-Hayat Media Centre, threatening to launch attacks in Russia "very soon". (http://ind.pn/1iY3GQ3)