Breakfast briefing: Tuesday, December 1

How markets are shaping up ahead of Fed, ECB decisions: The US Federal Reserve and European Central Bank are expected to deliver sharply contrasting policy decisions next month, reflecting how the world's two largest economies have moved from the Great Recession to the Great Divide. The US and eurozone central banks have been on a similar path of monetary easing since the financial and economic crisis of 2007-09. But the Fed is now poised for "liftoff", delivering its first rise in interest rates for almost a decade, while the ECB is expected to flood the market with more deflation-busting stimulus. - Reuters

New Fed rule limits its crisis bailout powers: The Federal Reserve Board on Monday adopted a rule that stops it from bailing out individual companies, a change that Congress demanded after the central bank's controversial decision to help rescue American International Group and others during the financial crisis. The rule is designed to help end the notion of individual financial companies being "too big to fail," by allowing the Fed to rescue only the broader financial system instead of individual companies. - Reuters

Tribune Publishing says not in talks to sell itself: Tribune Publishing Co said it was not in talks or in the process of selling itself, after a tweet by News Corp's Rupert Murdoch on Friday that suggested Tribune's newspaper group would be sold. - Reuters