- Volkswagen (VLKAY) and other car makers have begun to rein in production in China as demand slows, Reuters reports quoting industry sources. The German car giant's Chinese joint venture is canceling staff bonuses and cutting shifts at its plants near Changchun, northeastern China. General Motors (GM) is also heavily exposed to the Chinese slowdown.
- Japanese manufacturers' confidence fell by most in a year in September, because of the slowdown in China and weakness in external demand, the Reuters Tankan survey showed. Domestic demand also looks increasingly fragile as service companies report the weakest sentiment since March and predict further deterioration in the coming three months.
- Chinese authorities have seized around 1.0 trillion yuan ($157 billion) from local governments which did not spend the funds, as central government officials are angry that efforts to stimulate the economy have not been followed through at a local level, Reuters reports.
- Action Alerts PLUS portfolio holding Google (GOOGL) came under fire in Russia from antitrust regulators, who accused it of forcing hardware makers to preload its software on handsets. The Russian inquiry comes before a similar one that the European Union plans to initiate.
- The Russian military buildup in Syria is concerning the U.S. authorities, the Wall Street Journal reports. Over the weekend, six T-90 Russian tanks arrived at an airfield south of the Syrian port city of Latakia, where Russia's military has embarked on an intensive buildup. The steady arrival of more military gear at the base has solidified concerns in Washington that Russia is preparing to play a more muscular role in the Syrian war.
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