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U.S. stocks dropped from record levels, and oil retreated amid a surprise decline in industrial production. The yen strengthened against most of its peers after Japan unexpectedly slid into recession.

US Stocks Fluctuate as Deals Offset Factory Data, Japan  Businessweek
US stocks drop as Japan slides into recession  USA TODAY
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With Japan’s slump into its fourth recession since 2008 threatening the failure of the Abenomics reflation program, Prime Minister Shinzo Abe’s administration is taking steps to shore up growth for the coming year.
Federal Reserve Governor Jerome Powell said he expects the U.S. central bank to raise interest rates next year, adding the exact timing would depend on the pace of economic recovery.

Halliburton’s $3.5 Billion Breakup Fee Highlights Regulator Risk

Halliburton Co. (HAL:US)’s just given itself a $3.5 billion reason to jump through whatever hoops regulators ask as it seeks permission to acquire Baker Hughes Inc. and take out one of its key competitors.

Big Oil Deals Return After Price Plunges, as Halliburton Moves First  Bloomberg
Halliburton in blockbuster oilfield services deal  CNBC
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Industrial Production in US Unexpectedly Dropped in October

Industrial production in the U.S. unexpectedly dropped in October, weighed down by declines at utilities, mines and automakers that signal manufacturing started the fourth quarter on a soft footing.

US factory output increases 0.2 pct in October  seattlepi.com
Factory Output Rises, But Auto Production Declines  DailyFinance
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China’s New Old Financial Capital

Hong Kong’s democracy protests are often said to be futile because the city is no longer China’s golden goose, protected from Beijing’s wrath by its economic importance.

Shanghai Stock Buying Through Link Reaches Limit on Debut  Bloomberg
Individual Investors Swamp Shanghai Link, Hong Kong Brokers Say  Businessweek
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Allergan agrees to $66B friendly bid from Actavis

Allergan has reached a friendly deal to be acquired by Actavis PLC in a deal valued at $66 billion US – blocking an attempted hostile takeover by Quebec-based Valeant and its U.S.

Canadian company blocked in bid to take over Botox-maker Allergan  CTV News
Botox Maker Allergan Agrees to Be Sold to Actavis  New York Times
NBCNews.com   Related articles »

US stocks drop as Japan slides into recession

USA TODAY ‎46 minutes ago‎ 
Stocks fell Monday after Japanese markets tumbled on news that the world’s second-largest economy unexpectedly slipped back into recession.
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