- Chinese stock markets rose the most in almost a month on hopes of stimulus from Beijing. The Shanghai Composite index was up by 2.3%, the biggest one-day rise since Nov. 4. As a reading of manufacturing data came in below expectations on Tuesday, speculation is mounting that the Beijing government could launch more stimulus measures to make sure the 7% GDP growth target is met.
- Private equity firm CVC Capital is expected to announce a 2.2 billion euros ($2.33 billion) deal to acquire U.K. roadside recovery group RAC, according to a report by Sky News quoted by Reuters.
- JPMorgan (JPM) tops the investment banking rankings by revenue, with a surge in mergers and acquisitions helping it to earn $18.2 billion so far this year, a survey by industry analytics firm Coalition shows. Goldman Sachs (GS) took the second place. Deutsche Bank (DB) was the only European bank in the top five, tied at number three with Citi (C). Morgan Stanley (MS) and Bank of America Merrill Lynch (BAC) were tied at number five.
- The European Union has threatened Greece that it would be kicked out of the Schengen passport-free travel area unless it overhauls its response to the migrant crisis, the Financial Times reports. If the EU goes ahead and excludes Greece, it would be for the first time that a country is excluded since the Schengen Agreement was signed in 1985.
- Buyout companies KKR (KKR), Thoma Bravo and Vista Equity Partners Management are competing for $4 billion worth of Dell's assets as Dell is trying to strengthen its balance sheet after agreeing to buy EMC Corp (EMC).
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