10 Things You Need To Know Before European Markets Open

MIKE BIRD

 NOV. 12, 2014

Kim Kyung-Hoon/Reuters

U.S. President Barack Obama (L) shakes hands with China’s President Xi Jinping during the Asia Pacific Economic Cooperation (APEC) forum, at the International Convention Center at Yanqi Lake in Beijing, November 11, 2014.

Five Massive Banks Were Just Fined $3.3 Billion For Allegedly Manipulating Currency Markets. UBS, the Royal Bank of Scotland, JP Morgan, HSBC and Citibank were all fined more than of $3.2 billion by authorities in Switzerland, the UK, and the US this morning.

The US And China Just Made A Landmark Joint Deal On Climate Change. China will aim for a peak in greenhouse gas emissions by 2030, while the United States will strive to cut total emissions by more than a quarter by 2025, as the two countries try to drive through a new global climate pact in Paris next year.

Samsung Just Cranked Up Its Legal Battle With Chipmaker Nvidia. Samsung has accused Nvidia of infringing several of its semiconductor-related patents and for making false claims about its products, counter-suing after Nvidia filed a lawsuit against the Korean company in September.

Japanese Shares Hit 7 Year Highs. The Nikkei climbed 0.43%, after trading higher during the day, hitting the highest levels in 7 years.

That’s Because Of Snap Election Rumours In Japan. Prime Minister Shinzo Abe may call an emergency election to justify delaying or scrapping the second sales tax hike planned for the country. 

eBay Admits It Banned A Whistleblower Warning Shoppers About Fake Products. When a consumer watchdog organization alerted eBay that it had found hundreds of counterfeits on the site, eBay blocked the whistleblower’s accounts and removed its comments warning people about fake products.

UK Unemployment And European Industrial Production Are Coming.They’re at 9.30 a.m. ET and 10 a.m. ET respectively, with economists expecting a 0.7% jump in industrial production and UK unemployment to fall to 5.9%.

Shell Says It’s Focused On Deep Water Oil Projects In Mexico. Royal Dutch Shell, one of the world’s largest oil companies, is most interested in new oil and gas projects in the deep waters of the Gulf of Mexico following a major sector opening finalized earlier this year, a top executive said on Tuesday.

Volvo Is Reportedly Cutting 3,000 Staff. Swedish truck maker Volvo will cut around 3,000 staff as part of a savings plan to boost profitability, business daily Dagens Industri said on Tuesday.

The Bill For Shutting Nuclear Plants Will Hit $100 Billion. According to the Financial Times, the international bill for winding down the world’s nuclear power plants will hit $100 billion in the next 25 years.