EMEA Morning Briefing: Equities Should Stagnate After -2-

In theory, the 10-year Treasury yield is supposed to reflect what investors think the return on money permanently invested at the risk-free overnight rate set by the Federal Reserve will be, adjusted for a “term premium. “- the fudge factor that investors are building. in yield as an insurance against the risk that their rate forecasts are wrong. Lately, returns have reflected investors’ belief that the main risk to their forecasts is that they turn out to be too high.

   
 
 

US, Russia set schedule for talks with Ukraine in January

WASHINGTON – The United States and Russia have agreed to hold security talks on January 10, amid tensions over Russian forces deployed near Ukraine and demands from Moscow that NATO abandon any expansion towards east in the former Soviet bloc.

No sign has emerged that the two sides have been able to narrow their differences over Moscow’s basic demand that the North Atlantic Treaty Organization sever military ties with Ukraine and Georgia, and rescind. previous statements that they would eventually join the alliance.

   
 
 

Syria accuses Israel of hitting its main trading port

Israeli missiles struck the Syrian port of Latakia early Tuesday, according to the Syrian Defense Ministry, causing massive fires and damage in the second such attack on the vital facility this month.

The missiles were fired from the Mediterranean and targeted the container yard at the commercial port at around 3 a.m. local time, the Syrian defense ministry said via state-run SANA news agency. No casualties were immediately reported following the strikes, which activated Syrian air defenses, according to SANA.

   
 
 

Russian court orders shutdown of major human rights group

A Russian judge on Tuesday dissolved one of the country’s oldest and most prestigious human rights organizations, a move that government critics say strengthens President Vladimir Putin’s assault on dissent.

The group, International Memorial, which was founded under Soviet leader Mikhail Gorbachev to research and shed light on the far-reaching abuses committed by the Soviet system against its citizens, is increasingly criticized by Russian authorities who qualified as a foreign agent in 2016. to receive funds from abroad.

   
 
 

Former Afghan women’s troops, once hailed by the West, fear for their lives

KABUL-When the Taliban captured Kabul in August, Samima dug a hole in his yard and buried his Afghan Air Force uniform. The Taliban still found out about his past and called him a few days later.

Panicking, she turned off her phone, got rid of her SIM card and fled her home. She says armed Taliban have since shown up at her parents’ home, asking for people who served in the armed forces. She now lives in hiding, desperately hoping for an exit from Afghanistan.

   
 
 

Uganda finds China’s leverage in the fine print of its loans

Chinese loans resulting from the signing of President Xi Jinping’s Belt and Road Initiative have transformed the economies of the developing world. Now, as bills fall due in Uganda and elsewhere, attention is turning to how aggressively Beijing enforces its contractual obligations, even if it sometimes extends repayment deadlines.

A recent failure on Chinese funding to modernize Entebbe International Airport in Uganda has highlighted how Beijing’s influence on borrowing countries can be boiled down to the fine print of contracts.

   
 
 

Some European companies find it difficult to calculate the share of their green activity

Many European companies are preparing to tell investors how much of their income, capital investments and operating costs come from activities that regulators consider green.

From January 1, listed companies with more than 500 employees – those falling under the so-called Non-Financial Reporting Directive – will be required to disclose in their annual reports what percentage of their operations fall under the green taxonomy of the European Union. The classification system aims to give investors more clarity on the types of economic activities that can be considered sustainable. The disclosure rules that take effect next year apply to several thousand large companies and are part of a larger EU effort to cut emissions.

   
 
 

Power struggle between Somali President and Prime Minister threatens fight against extremists

NAIROBI-A power struggle erupted in an already volatile Somalia on Monday, with the president suspending the prime minister and the latter announcing he would take over as president, a battle that threatens to undermine the country’s struggle against Islamist extremists.

President Mohamed Abdullahi Mohamed, nicknamed Farmajo, has announced that he is removing Prime Minister Mohamed Hussein Roble from his powers for alleged corruption.

   
 
 

Elon Musk exercises last batch of Tesla stock options behind CEO’s recent stock trades

Elon Musk exercised the last batch of a set of Tesla Inc. stock options that formed the basis of several weeks of CEO share trading.

Mr Musk converted more than 1.5 million options due to expire in August 2022 into shares on Tuesday and sold more than 934,000 shares to cover the associated taxes, according to regulatory documents.

   
 
 

CDC is investigating 86 cruise ships with Covid-19 cases

The United States Centers for Disease Control and Prevention is investigating or monitoring 86 cruise ships with reported cases of Covid-19 on board, according to a list posted on its website Tuesday, as the highly transmissible variant of Omicron spreads in the world.

The CDC is investigating a ship if there is one or more reported cases of Covid-19 among the crew or if the reported cases represent at least 0.10% of total passengers in the past seven days. For a 6,500 passenger ship, that would mean seven cases would trigger an investigation.

   
 
 

Riot Games to pay $ 100 million to settle gender discrimination lawsuit

Riot Games, the company behind video games like League of Legends and Valorant, has agreed to pay $ 100 million to settle allegations of gender discrimination against female workers.

The deal ends three years of litigation over allegations that Riot, a subsidiary of Chinese company Tencent Holdings Ltd., paid women less than men, held back their careers and abused them in other ways. The case was one of many cases in recent years of women speaking out against what they saw as unequal treatment within the ranks of the video game industry.

   
 
 

The Chinese dilemma of Walmart is also that of all western companies

Walmart is grappling with a public outcry in China after internet users across the country accused the company of not stocking products from China’s Xinjiang region, where the government has imprisoned many of the Turkish Uyghur minority.

At first glance, this is nothing new: Foreign companies in China have faced periodic boycotts for years. But this fact hides profound changes in the political and economic environment in China. If they persist, long-held assumptions about the need for consumer companies to invest in China – or be left behind in the world – could start to crumble.

   
 
 

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Major events expected for Wednesday

7:45 am / FRA: nov Housing starts

09: 00 / AUT: dec. Austria Manufacturing PMI

09h00 / EU: Nov Monetary developments in the euro zone (M3)

9:30 am / United Kingdom: Nov. Capital issue

11: 00 / POR: Nov Retail

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

 

(END) Dow Jones Newswires

December 29, 2021 00:23 ET (05:23 GMT)

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