Skip to Content
Global News Select

EMEA Morning Briefing: Stocks to Open Lower After -2-

Businesses are grappling with uncertainty related to decisions from European regulators and courts that make it difficult to move personal data to the U.S.


European Airlines Steer Clear of Omicron Turbulence as US, Asian Cancellations Soar -- Talking Markets

European airlines have been showing more resilience than their peers in Asia and the U.S. during the Christmas holiday period despite a surge in Covid-19 infections caused by the Omicron variant, a sign that passengers on the continent should be able to travel with minimal disruption for the New Year.

"My base case would be that the vast majority of flights that are on the schedule until the New Year should be operated," Bernstein analyst Alexander Irving said.


IPOs to Remain Hot in Europe After Boom Year, But There Will Be Challenges -- Talking Markets

Initial public offerings in Europe made a dramatic comeback in 2021, marking the best year since before the 2008-09 financial crisis.

Optimism about the fight against the Covid-19 pandemic, high equity valuations and an abundance of funding created the perfect conditions for a boom, but next year will likely bring a few challenges for companies seeking to list, Ernst & Young partner Martin Steinbach told The Wall Street Journal.


Biden, Putin Warn of Danger to Relations if Crisis Over Ukraine Escalates

President Biden and Russian President Vladimir Putin warned each other of the potential for a dangerous downturn in relations if the current crisis over Ukraine further escalates, but kept a pathway open for diplomacy.

In a 50-minute conference call Thursday, Mr. Biden renewed a warning to Mr. Putin that Russia would face punishing economic sanctions if Moscow turned away from diplomacy and attacked Ukraine, a senior U.S. official said.


Northvolt Develops Lithium-Ion Battery Cell in First for European Company

Swedish battery maker Northvolt said Wednesday it created a lithium-ion battery cell, the first by a European company, and plans to ship it to companies to power electric vehicles next year.

The market is currently dominated by Asian manufacturers, which have built or are building factories in Europe to supply batteries to car companies there, as demand for electric cars is soaring. Fueled by generous government incentives for buyers, Europeans are buying electric cars at a record pace, helping the continent surpass China as the biggest electric vehicle market in the world.


CDC Tells Americans to Avoid Cruise Ships

The Centers for Disease Control and Prevention raised its travel warning for cruise ships to its highest level, telling Americans to avoid cruises regardless of their Covid-19 vaccination status.

The new warning issued Thursday coincides with a recent wave of Covid-19 cases, including infections reported on dozens of cruise ships, as the Omicron variant continues to spread globally.


China Steps in to Help Another Property Developer in Distress

A Chinese state-owned enterprise will take more than a quarter of a stake in a cash-starved property developer amid efforts by Beijing to help some domestic real-estate companies facing liquidity issues that has limited their ability to meet debt obligations.

China South City Holdings will raise 1.91 billion yuan (US$299.71 million) by placing shares to Shenzhen SEZ Construction and Development Group or SZCDG, the developer said Friday.


Tesla Recalls Vehicles Over Camera, Front Hood Faults

Tesla Inc. is recalling nearly half a million cars it has produced in recent years because of potential safety defects, federal regulators said, adding to previous recalls and other safety concerns that have hit the electric-vehicle maker this year.

The new recalls will cover about 356,000 Tesla Model 3 sedans from model years 2017 through 2020, as well as about 119,000 Model S cars from model years 2014 through 2021, the National Highway Traffic Safety Administration said this week. Regulators have raised a variety of safety concerns about Teslas in 2021, ranging from its vehicles' touch-screen displays to their automated driver-assistance features.


Airlines Cancel More Than 1,300 Flights

The coronavirus surge continued to disrupt U.S. air travel as airlines canceled hundreds of flights Thursday, while the Federal Aviation Administration warned of possible delays because of the agency's own Covid-related staffing challenges.

More than 1,300 flights in the U.S. had been scrubbed by late Thursday, according to aviation data tracker FlightAware, with about half as many already canceled for Friday and Saturday each. The tally included domestic flights and those into and out of the U.S.


Write to


Expected Major Events for Friday

05:30/NED: Nov Retail turnover

07:00/TUR: Nov Foreign Trade

08:30/EU: Dec EuroCOIN indicator of euro area economic activity

10:00/LUX: Nov PPI

10:00/CYP: Nov PPI

10:00/GRE: Oct Turnover Index in Retail Trade

14:00/BEL: 3Q Balance of Payments

All times in GMT. Powered by Kantar Media and Dow Jones.

Write to us at

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to

This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswires

December 31, 2021 00:40 ET (05:40 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.