Bonds Rise as China Drags Down Metals, Selloff in Stocks Resumes (BBG) European Stock Rally Runs Out of Steam Amid China Growth Concern (BBG) Obama's immigration action blocked again; Supreme Court only option left (Reuters) Ukraine: Cyberwar’s Hottest Front (WSJ) With $170.4 Million Sale at Auction, Modigliani Work Joins Rarefied Nine-Figure Club (NYT) IEA Sees OPEC Market Share Growth in 2020 as Rivals Stagnate (BBG) Hedge Funds Load Up on Sugar (WSJ) Tencent Profit Hits Record as Online Games, Video Lure Users (BBG) Cameron Confident of EU Reforms as He Seeks to Keep Britain in EU (BBG) Airstrikes Alone Can't Defeat Islamic State, U.S. Air Force Says (BBG) How the Unshackled Ruble Has Changed Russia's Economy Forever (BBG) Debate gives Rubio chance to win over big-money Republican donors (Reuters) Jeb Bush's Comeback Plan Looks Weaker Than Advertised (BBG) Bank of America Cut Off Finance Sites From Its Data (WSJ) Millennials Ditch Big Banks and Go Local With Their Money (BBG) Overnight Media Digest WSJ - Ukraine offers a glimpse into the type of hybrid warfare that Western military officials are urgently preparing for: battles in which traditional land forces dovetail with cyberattackers to degrade and defeat an enemy. (http://on.wsj.com/1Mlj01y) - Bank of America Corp is among a number of financial firms to temporarily cut off the flow of information to some websites and mobile applications that aggregate consumer financial data, according to people familiar with the matter. (http://on.wsj.com/1lhtQz5) - A federal appeals court Monday upheld a lower court's ruling blocking the Obama administration's plans to defer deportations for more than four million undocumented immigrants. The 2-1 decision by a three-judge panel of the Fifth U.S. Circuit Court of Appeals upholds an injunction by a Texas federal judge that has blocked President Barack Obama's 2014 immigration initiative, after leaders from 26 states challenged its legality. (http://on.wsj.com/1kIa6UA) - Christie's International sold Amedeo Modigliani's portrait of a "Reclining Nude" to Chinese collectors Liu Yiqian and his wife, Wang Wei, for $170.4 million, the second-highest price ever paid at auction for a work of art. (http://on.wsj.com/1GUenyN) - A fermented tea called kombucha recently became one of America's fastest-growing bottled drinks even though it tastes a lot like vinegar and can sport tendrils of live cultures that resemble jellyfish. But the U.S. government is worried there may be too much of something else in the cloudy, carbonated brew: booze. (http://on.wsj.com/1NGf67L) - GOP presidential candidates are competing to propose dramatic changes to tax policy that go well beyond the party's previous platforms and all but ensure the issue will play a central role in the general election. (http://on.wsj.com/1iPg7NY) FT Canadian Pacific Railway Ltd is exploring a potential acquisition of its U.S.-based rival Norfolk Southern Corp, and has hired bankers to seek finance for the deal. Citron Research, after targeting Valeant Pharmaceuticals last month, has turned its sights on Mallinckrodt Plc calling the drugmaker "a far worse offender of the reimbursement system" in a tweet. The comments by the short seller sent the drugmaker's stock price tumbling by as much as 22 percent. German carmaker Volkswagen AG's American unit is offering two $500 gift cards to owners of VW and Audi cars with engine capacity of 2L. The carmaker said the effort is a "first step" towards restoring consumer confidence in the brand. Match Group, the owner of dating services Tinder, OkCupid and Match.com, filed with U.S. regulators on Friday to raise as much as $537 million in an initial public offering. NYT - Greece's international bailout program has hit snags, delaying release of the next payout of rescue money. Despite a weekend of negotiations over telephone, Greek officials and the country's foreign creditors remained at odds. (http://nyti.ms/1WO0GTy) - Canadian Pacific Railway Ltd held preliminary discussions with Norfolk Southern Corp, one of the handful of operators, who control the roughly 95,000 miles of top-quality railroad tracks in the U.S., for a takeover. The two railroads ultimately may not reach a deal. (http://nyti.ms/1SemGpB) - Volkswagen AG said it would begin talks with worker representatives about how to cut costs - in the latest sign that the company's crisis over cheating on emissions tests is taking a heavy toll. The German automaker said it would offer up to $1,000 to owners of diesel cars in the U.S. affected by the scandal. (http://nyti.ms/1HDZfjO) - Local leaders of United Automobile Workers on Monday endorsed a proposed labor agreement with Ford Motor Company, that is slightly richer than contracts agreed to by union workers at General Motors Co and Fiat Chrysler Automobiles NV. The move by the union leadership paves a way for voting on the four-year agreement by more than 52,000 Ford workers. (http://nyti.ms/1M3jvzi) - William Ackman, founder of Pershing Square Capital Management, responded aggressively to the media's coverage of a four-hour conference call that he held on Oct. 30. The call was held to defend his hedge fund's 21-million-share stake in Valeant Pharmaceuticals International Inc. Valeant's stock price plunged more than 60 percent over the last several months because of its controversial pricing tactics. (http://nyti.ms/1lhJGK3) - A slowdown in international trade could be a harbinger of a new recession for the world's leading economies, the Organization for Economic Cooperation and Development said in its world economic outlook. (http://nyti.ms/20ID4Vm) - Even as the world shifts toward lower-carbon forms of energy, the changes are happening too slowly to keep global temperatures from rising to dangerous levels in the coming decades, International Energy Agency said in its report. (http://nyti.ms/1lhJQRy) Canada THE GLOBE AND MAIL ** Canadian Environment Minister Catherine McKenna is pledging to subject existing oil sands pipeline proposals to tougher environmental assessments, as the Liberal government looks to boost its international credibility at the upcoming Paris climate-change summit. (http://bit.ly/1HsKR2V) ** Canada's Immigration Minister John McCallum says a portion of the 25,000 Syrian refugees the Liberals plan to bring here will likely be housed at first on military bases, and he predicts some asylum seekers may arrive under a temporary protection program rather than as permanent residents. (http://bit.ly/1OAuZy4) ** Canada's new federal environment minister has granted Montreal permission to dump billions of liters of raw sewage into the St. Lawrence River so the city can make critical repairs to its waste-water system. (http://bit.ly/20JhvUs) NATIONAL POST ** Canadian Pacific Railway, which attempted a deal last year with CSX Corp, is rumored to be again trying to light a fire under a major merger, its stock rising 5.7 percent on Monday after reports that it has held early-stage takeover talks with U.S. rival Norfolk Southern Corp (http://bit.ly/1HEymMx) ** Canadian Natural Resources Ltd, the largest oil and gas producer in the country by volume, is also for now the largest shareholder in PrairieSky Royalty Ltd. Less than a week after CNRL president Steve Laut said there was no rush to sell off his company's portfolio of royalty lands, he announced a C$1.8-billion ($1.4 billion) cash-and-share deal for those lands on Monday with PrairieSky. (http://bit.ly/1SFj1Sx) ($1 = C$1.33) China SHANGHAI SECURITIES NEWS - The total value of China's 2014 online retail hit 2.9 trillion yuan ($455.84 billion) with a penetration rate of 14 percent, according to an e-commerce business report by Bain & Company and Ali Research. The online penetration rate is expected to reach 22 percent, with a total value of 10 trillion yuan ($1.57 trillion), by 2020. CHINA SECURITIES JOURNAL - China's peer-to-peer (P2P) networks' loan turnover exceeded 100 billion yuan for the first time in October, while their average annual yield hit record lows of 12.38 percent, according to the latest report by Wangdaizhijia (www.wdzj.com) and Yingcan Consultancy. 21st CENTURY BUSINESS HERALD - The total number of mail and express parcels is expected to reach 760 million during China's Nov. 11 shopping festival, according to State Post Bureau of the People's Republic of China. During Nov. 11, 12 and 13, the number of parcels processed per day will hit 140 million. SHANGHAI DAILY - Heavy air pollution in northeast China, which has grounded flights and closed roads, will remain until Saturday, fuelled by the burning of coal for public heating, the Ministry of Environmental Protection said on Monday. CHINA DAILY - Consumer demand in China is higher than indicated by customs data, which shows a 9 percent on-year decline in foreign trade in October, this official paper said in an editorial. - "Red envelope" gifts, an online money transfer device used on instant messenger services, may be used as a tool for bribery, said a director at the Anti-Corruption and Governance Research Center at Tsinghua University. Britain The Times Under rules published Monday by the Swiss-based Financial Stability Board, the most systemically important banks, including British lenders such as Barclays Plc and HSBC Holdings Plc, will have to raise almost 800 billion pounds ($1.21 trillion) by 2022 in an attempt by regulators to prevent taxpayers having to bail out failed lenders. (http://thetim.es/1PyxMXf) BHP Billiton Plc faces a $1 billion clean-up operation after the collapse of two tailings dams at the Samarco iron ore mine in Brazil, in what looks likely to be the worst industrial disaster to involve a British company in a generation. (http://thetim.es/1Pyy3tc) The Guardian Under the headline "We're Working to Make Things Right", Volkswagen AG on Monday launched a webpage where Volkswagen owners can enter their vehicle identification numbers and learn whether they qualify to receive up to $1,000 to compensate them for their unwitting role in one of the worst car scandals in history. (http://bit.ly/1PyyaVE) Alton Towers, owned by Merlin Entertainments Plc is to make up to 190 redundancies after a downturn in visitor numbers at the Staffordshire-based attraction in the wake of a serious rollercoaster crash in June. (http://bit.ly/1PyynYN) The Telegraph The Organisation for Economic Co-operation and Development (OECD) has urged George Osborne to rethink cuts that will disproportionately hit the poor, as it trimmed its world growth forecasts and warned that trade was slowing to a pace usually associated with a global recession. (http://bit.ly/1Pyyzrh) Business rates and the national living wage risk crushing Tesco Plc, the supermarket's chief executive, Dave Lewis, has warned, as the extra costs amount to a "potentially lethal cocktail". (http://bit.ly/1PyC6pf) Sky News The Confederation of British Industry has been drawn into a row with a group campaigning to leave the EU which accused it of being "the voice of Brussels". Vote Leave said the business lobby was "more interested in promoting the EU than fighting for what is good for Britain". (http://bit.ly/1PyC0ho) The Independent Discounts will win over price-wary customers as Black Friday is set to attract one in five British shoppers, becoming more popular than the week prior to Christmas according to a new poll among 3,458 adult consumers from Australia, Canada, New Zealand, the UK and the US, by analytics provider SAS. (http://ind.pn/1PyCgNC) Discount supermarkets have topped the sixth annual Global Brand Simplicity Index. While Aldi comes first on the global index for the third year running, Lidl has topped the list in the UK, according to a study by global brand strategy, design, and experience consultancy Siegel + Gale. (http://ind.pn/1PyCyE0)