The Traderszone Network

The Commerce Department said on Monday sales dropped 11.5percent to a seasonally adjusted annual rate of 468,000 units, the lowest level since November 2014. August’s sales pace was revised down to 529,000 units from the previously reported 552,000 units. New home sales, which account for 7.8 percent of the housing market, tend to be volatile on a month-to-month basis because they are drawn from a small sample.

Wal-Mart Stores Inc applied Monday to U.S. regulators for permission to test drones for home delivery, curbside pickup and checking warehouse inventories, a sign it plans to go head-to-head with Amazon in using drones to fill and deliver online orders. The world’s largest retailer by revenue has for several months been conducting indoor tests of small unmanned aircraft systems – the term regulators use for drones – and is now seeking for the first time to test the machines outdoors. It plans to use drones manufactured by China’s SZ DJI Technology Co Ltd.

JPMorgan Chase & Co (JPM.N) said on Monday it will soon launch its own competitor to Apple Pay that will allow consumers to pay retailers using their smartphones in stores, and it has already won the endorsement of a major group of merchants. Apple Inc’s (AAPL.O) Apple Pay’s website lists Best Buy in its “Coming Soon” section but has no mention of Wal-Mart.

After two years of disappointing profits from the holiday season, United Parcel Service Inc (UPS.N) is hoping a network of mom-and-pop retailers will help it avoid a third blue Christmas. The coming weeks will be a referendum on the expansion of UPS’s Access Point network earlier this year to 8,000 locations in 100 cities from a few large test markets. In densely populated areas, Access Point will “have a dramatic impact” on UPS’s ability to operate during the peak season, said Geoff Light, U.S. president of product development.

LONDON/FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) is considering scaling back its Italian retail operations by selling branches and cutting jobs as its new chief executive overhauls the company to keep pace with rivals, according to five sources familiar with the matter. CEO John Cryan is under pressure to reform Germany’s flagship bank to reduce costs and boost profitability, after costly litigation from a series of scandals and the fallout from the Asian market rout pushed its valuation well below competitors such as Credit Suisse (CSGN.VX) and UBS (UBSG.VX).

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Volkswagen may offer customers in Germany discounts on new vehicle purchases if they turn in certain old models affected by the emissions cheating scandal, a senior source at VW said. VW is pondering a …

China – Industrial companies profits for September
– Comes in at a ‘less bad’ result this month, down 0.1% y/y … less bad that is compared to the previous month of down 8.8%

That’s quite a lot less bad. The slowest that its got worse in 4 months!