| Advertisement
Here is what you need to know. 1. Repairs to the Saudi oil facilities after devastating attacks could reportedly take months. Saudi officials and oil contractors told the Wall Street Journal that the estimate of 10 weeks that company executives have promised for a repairs timeline would be a fraction of the time it is now expected to take. 2. BNP's prime brokerage deal with Deutsche Bank may transfer up to 1,000 staff. The two banks announced on Monday that they have reached an agreement that aims to smooth the transfer of the business, which serves hedge funds. 3. The UK expects to spend £100 million ($124 million) flying back stranded Thomas Cook passengers, which is only £50 million ($62 million) less than bailing out the company. Thomas Cook, a 178-year-old British travel company and airline, declared bankruptcy early Monday morning, suspending operations and leaving around 150,000 tourists stranded around the world. 4. WeWork's board meets today to discuss pushing out Adam Neumann — and his alleged 'self-dealing' and marijuana use may come into play. The uprising comes after the shared-workspace provider postponed its IPO amid concerns about its business model, valuation and governance. 5. Germany is 'firmly in contraction territory' after manufacturing sentiment fell to a crisis-era low. "All the uncertainty around trade wars, the outlook for the car industry and Brexit are paralyzing order books, with September seeing the worst performance from the sector since the depths of the financial crisis in 2009." 6. 130 banks worth $47 trillion adopt new UN-backed climate policies to shift their loan books away from fossil fuels. Deutsche Bank, Citigroup, and Barclays were among 130 banks to join the new framework on the eve of a United Nations summit in New York aimed at pushing companies and governments to act quickly to avert catastrophic global warming. 7. The UK says Iran was behind the Saudi oil attack and it would consider joining a US-led military effort. Speaking to reporters en route to the United Nations General Assembly in New York, Prime Minister Boris Johnson said Britain would "consider in what way [it] could be useful" as part of a coordinated response. 8. Stocks are muted at the start of the week. US stocks are poised for a mixed open as S&P 500 futures are flat and Nasdaq futures (+0.1%) are up. In Europe, trading opened down with the DAX (-0.1%) dropping as did the Euro Stoxx 50 (-0.9%). In Asia, indexes were mixed at the close, with the Nikkei (+0.2%) up but the Hang Seng (-0.8%) and Shanghai (-1.0%) down. 9. There is a stack of earnings out later. FedEx and Manchester United's earnings are out today. 10. There is a lot of data out this week. Today's highlight is Markit PMI for the US. | 