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President Xi Jinping of China has been anointed as the “core” leader of the Communist party, paving the way for a return to strongman rule after a decade and a half of consensus leadership among the country’s elite.
In a break from recent practice, the designation as “core” of the party elevates Mr Xi to a level of individual power last bestowed on Jiang Zemin, in the immediate aftermath of the 1989 crackdown on the Tiananmen Square protests. Mr Jiang headed the party until 2002 and continues to exert influence from behind the scenes without any formal title. (FT)
In the news
Tata v Cyrus Mistry The Indian conglomerate hit back at its ousted chairman for “repeated departures from [Tata's] culture and ethos”, ramping up the high-powered war of words between the company and Mr Mistry. (FT)
Bill Clinton's business comes back to haunt Hillary The latest batch of hacked emails from Hillary Clinton's campaign manager reveals concerns among her aides and daughter Chelsea that Doug Band, a close confidant of President Bill Clinton, was using his work for the family's foundation to win lucrative business from multinationals. The revelations come as Mrs Clinton leads rival Donald Trump in the polls and frustrating her attempts to make a closing argument in the final days of the race. (FT)
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EU trade deal with Canada salvaged Ceta was pulled back from the brink after Belgian regional leaders who had refused to allow Belgium to sign the pact reached an agreement to support it. But the delay raised questions of the EU's ability to handle complex deals and came only hours after Canadian premier Justin Trudeau cancelled a trip to sign the accord at a ceremony in Brussels. (FT)
Qualcomm buys NXP in $47bn chip deal The US chipmaker has agreed to buy its Dutch rival, the latest in a series of blockbuster takeovers in a consolidating semiconductor industry. Lex thinks Qualcomm got a good deal. (FT)
Twitter slashes workforce by 9%, closes Vine The social media company is cutting its global workforce by almost 350 people as it tries to prove it has a future as a profitable, independent company. The company also announced it would be shutting down its Vine mobile app (while keeping its website). The moves to slim down comes after a series of potential buyers from Google to Salesforce declined to buy the company. (FT)
Deutsche Bank profit The bank has surprised analysts by reporting a small profit for the third quarter. The bank, which has been plunged into turmoil following the revelation that the US Department of Justice’s wants it to pay $14bn to settle claims that it had allegedly mis-sold mortgage securities, reported a net profit of €278m. (FT)
Test your knowledge with the week in news quiz. Who slammed their abrupt ouster from India’s $100bn Tata Group as “illegal”?
It's a big day for
DRW The leading derivatives trader accused of market manipulation by a US regulator is making a last-ditch bid to avoid trial by asking a newly appointed judge to dismiss the case before it goes to trial in December. The top US regulator, the Commodity Futures Trading Commission, has until Friday to respond to its motion. (FT)
The yen Tokyo will deliver a range of data — including household spending, unemployment and the consumer price inflation index for September — that will have big implications for the currency. (FT)
Food for thought
The Remainers' role is to act as the loyal opposition Martin Wolf on why losing a referendum does not deprive those British voters of their citizenship — and what they must do now. (FT)
The rift between Clinton and Obama over Egypt In her campaign to become president, Hillary Clinton has subtly suggested she would implement a more mainstream version of US foreign policy than President Barack Obama, one that is more respectful of traditional allies and more confident in the ability of America to shape events overseas. Much of the foreign policy establishment in Washington is excited by the prospect of a more activist approach to the Middle East. (FT)
Why pop culture can't deal with black male sexuality Wesley Morris on the last great taboo in a world where male nudity shows up in everything from Game of Thrones" to more family-friendly fare such as Vacation: the black penis. “As commonplace as it has recently become to see black men on television and at the heart of films, and as normal as it’s becoming to see male nudity in general, it has been a lot more difficult to see those two changes expressed in the same body.” (NYT)
The price of fast fashion Three years after the Rana Plaza disaster in Bangladesh, working conditions for the men and women who western clothing are still paying the price for cheap garments. (Bloomberg)
Physics tweak explains dark matter An academic has changed the standard model of particle physics so that it can explain the mysterious substance that makes up 84 per cent of the universe’s mass. Now the challenge is to find the experimental evidence to prove it works. (New Scientist)
Japan’s geriatric time-bomb Japan’s rapidly ageing population reached a milestone last year. There are now more people aged 75 or older than there are those 14 years old or younger. Data also show that one-sixth of people over 65 live alone and the number of elderly people who die on their own is rising. (NAR)
Video of the day
Why China is worried about its lending There is growing concern in Beijing about China’s development lending in risky countries. (FT)
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