Good morning New York,
FT ALPHAVILLE
Another take on London property prices, from Dan... "fully 27 per cent below their peak in the summer of 2007".
NEWS
Senate deal on debt-limit emerges. 'Lawmakers would be required to hold budget talks by Dec. 13, fund the government through Jan. 15, 2014, and extend the nation's borrowing authority until Feb. 7, 2014, according to a person familiar with the Senate talks who spoke on condition of anonymity to discuss the concept...' (Bloomberg)
"Everybody realizes that whatever happens, we're going to be litigating this another day," said Senator Jon Thune after the January 15 proposal was unveiled (Wall Street Journal).
Anna Ahrendts will leave Burberry to head Apple's retail and online business. Christopher Bailey will take over as chief executive. Burberry's sales have doubled since Ahrendts joined the company in 2006. Its shares fell as much as 6 per cent in London after news of her departure (Bloomberg).
Rio Tinto raised its target for annual copper output, after it said it was recovering faster than expected from disruption at its Bingham Canyon mine in Utah (Financial Times).
Deal to strengthen UK-China financial ties: UK investors have gained a Rmb80bn quota to invest in China's financial markets, and Chinese banks will be able to apply to establish London branches for wholesale trading, under an agreement signed on Tuesday (Financial Times).
