TOP STORIES 
 
IRAN NUCLEAR TALKS EXTENDED 

Iran and the six-power group with which it is negotiating are extending nuclear negotiations until the end of June after failing to reach an agreement by today's deadline.

 
UNITED TECHNOLOGIES ANNOUNCES CEO'S RETIREMENT 
 

United Technologies disclosed the sudden retirement of Chief Executive Louis Chenevert, and it named Chief Financial Officer Gregory Hayes as his successor. Shares down 1%.

 
CHINA CUT IN RATES MAY BE SHORT ON IMPACT 
 

China's move to slash lending rates to help slowing growth may lack punch, as Chinese banks likely will remain reluctant to lower loan rates for fears of hurting their profits.

 
U.S. STOCKS TRADE HIGHER 
 

U.S. stocks traded higher following gains in European and Asian stocks. The Dow and S&P both closed at records Friday amid a rally sparked by an interest-rate cut in China.

 
WAL-MART ADDS FORMER AMERICAN AIRLINES CEO HORTON TO BOARD 
 

Wal-Mart has added Tom Horton, the former chief executive of American Airlines, to the retailer's board, bringing its size to 16 directors.

 
BIOMARIN TO PAY UP TO $840 MILLION FOR PROSENSA 
 

BioMarin Pharmaceutical, a drug maker focused on rare diseases, said it has agreed to pay up to $840 million to acquire Prosensa Holding, a Dutch biopharmaceutical company with no marketed products. Prosensa shares up 61%; BioMarin down 1%.

 
HEALTHSOUTH TO ACQUIRE EHHI HOLDINGS 
 

HealthSouth agreed to acquire privately held EHHI Holdings for about $750 million, a move that would expand the inpatient-hospital operator into the home-health market.

 
OIL PRICES SLIP AS OPEC MEETING LOOMS 
 

Oil prices fell on expectations that the Organization of the Petroleum Exporting Countries would not cut production enough to reduce a global glut of oil.

 
SAKS FIFTH AVENUE FLAGSHIP VALUED AT $3.7 BILLION FOR LOAN 
 

Canadian retail mogul Richard Baker said Saks Fifth Avenue's flagship store in Manhattan had been appraised at $3.7 billion--well above the $2.9 billion, including debt, that Hudson's Bay paid for all of Saks a year ago.

 
CHICAGO NATIONAL ACTIVITY INDEX SHOWS GROWTH MODERATED 
 

The Chicago Fed National Activity Index fell to +0.14 in October from September's +0.29. The three-month moving average, designed to smooth out volatility, fell to -0.01 in October from +0.12 in the previous month.

 
GREEK OFFICIALS HOPE TO BREAK DEADLOCK ON REFORM 
 

Greek officials will meet with the country's troika of international inspectors in Paris on Tuesday in a bid to jump-start deadlocked talks over Greece's reform and austerity program.

 
 
 
 
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Grand Central 
A PBOC REPORTER POINTS TO THREATS FOR NO. 2 ECONOMY 
 

Jon Hilsenrath recommends you take a moment to read Bob Davis's Saturday essay on the possible end of China's economic miracle. Sign up here for The Wall Street Journal's daily report on global central banks.

 
Capital Journal Daybreak 
OBAMA'S UNILATERAL ACTIONS RAISE RISKS 
 

With time ticking down on his second term, President Obama has escalated his efforts to accomplish his policy goals without winning approval from Congress. Sign up here for The Wall Street Journal's morning rundown of the biggest news driving Washington.