Syria Near-Miss; Barclays’ Investment-Banking Coup: Sunday Wrap

  • Saudi Arabia, Russia pledge cooperation on oil production
  • Merkel’s party loses to anti-immigration forces in local vote

Here are highlights of Sunday’s top breaking stories from around the world:

Talks between Russia and the U.S. at the G-20 summit in China that looked like they were going to produce a cease-fire agreement in Syria -- to the point podiums were set up for an announcement -- fell though at the last minute.

Saudi Arabia’s deputy crown prince met with Russian President Vladimir Putin and said stability in oil markets isn’t possible unless his country and Russia cooperate. Putin emphasized the need to “maintain a permanent dialogue." Whether that means a production freeze is another question.

U.S. President Barack Obama reiterated that the U.K. will have to wait awhile for a post-Brexit trade deal with the U.S. because both have too many other things on their plates.

Obama sought to play down U.S. run-ins with Chinese security upon arriving at the G-20 while not backing down or apologizing for the cause of them. He also promised Turkish President Recep Tayyip Erdogan to keep investigating Turkey’s claim that U.S.-based preacher Fethullah Gulen instigated a failed coup in July, as Erdogan said his interior and justice ministers would come to the U.S. to press their case.

U.K. Prime Minister Theresa May, on her way to the G-20, backed away from several key promises made by Boris Johnson and other pro-Brexit members of her cabinet, including one to leave the single market, while saying economic difficulties are inevitable.

Barclays is close to landing a top JPMorgan Chase executive to oversee investment banking as head of the corporate and international division.

German Chancellor Angela Merkel’s party finished third in elections in Mecklenburg-Western Pomerania state and was beaten by the anti-immigration Alternative for Germany, the first time that has happened. It was a powerful demonstration of the public anxiety over the influx of 1 million asylum seekers from Syria and other conflict-torn regions.

Hong Kong voters came out in near-record numbers for the first legislative elections since pro-democracy protests two years ago. There were still long lines when polls closed at 10:30 at night.

One of the oil and gas frackers ordered to shut its wastewater wells after Saturday’s earthquake in Oklahoma had said only two days earlier that it couldn’t make interest payments on its debt and may have to seek bankruptcy.

Donald Trump’s running mate, Mike Pence, said Trump would suspend the acceptance of Syrian refugees into the U.S. if elected, repeating the false mantra that they’re not vetted.

Israeli commuters fumed in miles-long traffic jams on the first day of the work week as rail lines remained shut down in a row between Prime Minister Benjamin Netanyahu and his transportation minister. They reopened in the evening.

Israeli government and industry officials discussed how to go forward with the country’s space program after their prized satellite was destroyed in the launch-pad explosion of a SpaceX rocket last week. Shares in the satellite operator plummeted to a 10-year low.

Richard Nixon is back to kick around -- by this year’s nominees from his own party.

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