Good morning! Here’s what you need to know in markets on Monday.
1. Oil prices won back some ground after hefty losses on Friday, but remained under pressure with Brent crude hovering below $US60 per barrel amid weak fundamentals and struggling financial markets.
2. British Prime Minister Theresa May has inked a Brexit deal with the European Union. But it appears her Cabinet is already preparing to rip it up.
3.Facebook asked Parliament to keep quiet on seized internal documents. The documents allege CEO Mark Zuckerberg and his company promoted a loophole exploited by the Cambridge Analytica.
4. Russia confirmed it fired upon and seized ships from the Ukrainian navy near waters off Crimea. Ukraine has said it will consider enforcing martial law in response to the incident.
5.Renault-Nissan executives will attempt this coming week to shield their joint operations from a looming power struggle between the carmakers, following alliance boss Carlos Ghosn’s arrest over misconduct allegations. Top executives from both manufacturers and third partner Mitsubishi will attend mid-week operations committee meetings in Amsterdam.
6. Luxury carmaker Aston Martin has not yet seen a slowdown in its key markets and aims to more than double the number of cars it makes by 2025, its chief executive said on Sunday.
7. General Motors is set to make a major announcement on Monday that will affect its global operations, including auto production at an Ontario plant, a Canadian union said in a statement on Sunday.
8. Russia plans to impose stiffer fines on technology firms that fail to comply with Russian laws, sources familiar with the plans said, raising the stakes in the Kremlin’s fight with global tech giants such as Facebook and Google.
9. Thousands of protesters clashed with police in Paris over rising fuel prices. Police launched tear gas and water on protesters, who lit fires and erected makeshift blockades near the Champs-Elysees.
10. Investment giant BlackRock is making changes at the top. The $US6.4 trillion investment manager is focusing hard on the Asia-Pacific region and has a new female lead taking over in February.