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NEW YORK (TheStreet) -- Turkey shot down a Russian fighter jet that violated its airspace near the border with Syria, the Turkish military said. A military officer told Reuters the fighter jet had been warned that it violated airspace before being shot down. Turkey, a NATO member, has repeatedly warned Russia not to conduct airstrikes in Syria near its border. Russia denies it had violated Turkey's airspace. Footage from a news agency showed two pilots parachuting out of the plane that went down in flames.

  • The number of companies defaulting on their debt is the highest since the financial crisis, with U.S. companies taking the lead, according to a report in the Financial Times. The report, quoting Standard & Poor's data, shows that 99 companies have defaulted on their debt this year. Of these, 62 are from the U.S., of which about three fifths are from the energy and basic resources sectors.
  • U.K. mobile phone giant Vodafone (VOD) postponed a planned bond sale in the U.S., in what the Wall Street Journal said was the latest sign of weakness in international bond markets. The company was looking to sell 30-year bonds, although no total amount to be raised had been decided, the paper said.
  • Activist investor Carl Icahn revealed he has amassed a 7.13% stake in Xerox (XRX), saying the copier maker's shares were undervalued. This makes Icahn the second-largest shareholder in Xerox after Vanguard Group.
  • Germany's Ifo showed business sentiment bouncing to a 17-month high in November after coming in weaker last month, in a sign that German businesspeople consider the Volskwagen (VLKAY) emissions scandal a one-off event.

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