Economics

• One of Russia’s Richest Men Says Economy Has Yet to Hit Bottom
  Vladimir Potanin, one of Russia’s richest men, said the country’s economy has yet to hit bottom, with a shortage of investment remaining the biggest challenge.
• China’s NDRC Pledges More Policy Tools to Meet Economic Targets
  China will step up counter-cyclical support and prepare additional high-impact policy tools as it seeks to meet this year’s economic targets.
• Russia Lifts Ban on Diesel Exports as Part of Trump-Putin Deal
  Russia partially lifted its ban on diesel exports, allowing 500,000 metric tons of fuel to reach international markets following an agreement between President Vladimir Putin and US President Donald Trump, according to a Russian government statement.
• Cliffs Canadian Unit to Press Ahead With Job Cuts, Globe Says
  Cleveland-Cliffs Inc.’s Canada-based Stelco unit has informed Prime Minister Mark Carney’s government that it will move ahead with hundreds of layoffs at operations near Toronto, setting the stage for a legal fight, the Globe and Mail reported.
• Trump Hypes Megaprojects to Voters Who Lament Gas, Food Costs
  Presidents have long made bombastic pledges to voters in last-minute electoral appeals.
• EU Plans Measures to Cut Imports of Chinese Hybrid Cars by Half
  The European Union intends to use safeguard measures to cut the number of hybrid car imports from China by half, according to people familiar with the discussions.
• Poland Central Bank Faces Meeting Hurdles Without Glapinski: PAP
  The potential suspension of Polish central bank governor Adam Glapinski could make it difficult to convene meetings of the rate-setting panel, a policymaker said, as an “unprecedented” legal challenge raises questions about the institution’s leadership.
• How Data Centers Are Pushing Up US Power Costs
  Data centers have become a defining political issue in the run-up to the US midterm elections. The giant, windowless warehouses have drawn fierce backlash across the country as people worry about how much power and water they use, as well as the noise and heat they produce.
• Can Trump’s New Bid to Fire the Fed’s Lisa Cook Succeed? What to Know.
  For more than a year, President Donald Trump has sought to push out members of the Federal Reserve Board of Governors and gain more leverage over the central bank’s policies. In early October, the White House resumed that effort, announcing the formation of a committee to investigate mortgage fraud allegations against board member Lisa Cook. She will be required to appear at a White House hearing on Nov. 5 to defend herself, Trump said in a memo.
• Why Southeast Asia’s Haze Crisis Is So Bad This Year
  Several Southeast Asian countries have been blanketed for weeks in toxic haze spewing from forest fires in Indonesia. Cases of respiratory illnesses have soared, schools have been closed and flights canceled. Governments are under pressure to step up and coordinate a response to what’s shaping up to be the worst such episode in more than a decade.
• How a UPS Blunder Sent US Fighter Jet Parts to China
  The US defense industry’s use of commercial freight companies is facing scrutiny after a shipment diverted to Hong Kong by United Parcel Service Inc. resulted in potentially sensitive F-35 stealth jet parts falling into the hands of the Chinese government.
• Rich Countries Are Now on Front Lines as World’s Risk Map Shifts
  Typically called into action when poor countries get mired in debt, the International Monetary Fund will be confronted this week with mounting signs of trouble in the wealthiest ones.
• China Passenger Vehicle Retail Sales Drop 24% in September
  China’s passenger vehicle retail sales fell 24% in September from a year earlier to 1.702 million units, while new-energy vehicle sales declined 12% to 1.141 million units, according to data released by the China Passenger Car Association.
• EU Eyes €160 Billion Cut to Proposed Budget Heading to Talks
  European Union leaders will discuss a scaled back budget when they meet in Brussels next week after negotiators slashed the initial proposal in response to pressure from some countries.
• Charting the Global Economy: Sentiment Among US Consumers Wanes
  Sentiment among US consumers deteriorated for a third straight month on cost-of-living concerns, while personal spending in Japan continued to weaken and German factory orders slid.
• Europe’s Troubled Carmakers Get China Boost on Way to Paris Show
  European carmaking leaders are heading to next week’s Paris Motor Show after winning some breathing room from Chinese competitors.
• Turkey Bans Social Media Accounts for Children Under 15
  Turkey has barred social media platforms from providing services to children under the age of 15, according to a regulation published in the Official Gazette.
• Europe’s Indebted Nations Are Starting to Blink at Market Wrath
  Europe’s political class is showing the first signs of bending to the will of an unforgiving bond market.
• European Debt-Crisis Risks Have Risen Sharply, Bundesbanker Says
  Europe’s most recent bond selloff is a “clear warning sign” that investors are getting nervous about governments’ efforts to rein in debt, according to one of Germany’s top central bankers.