10 things you need to know before European markets open

Good morning! Here’s what you need to know.

Boris was in hot water. Foreign Secretary Boris Johnson denied reports he had told four EU ambassadors that he was personally in favour of allowing free movement of people within the bloc.

The US has got a money laundering problem. The United States received failing scores for its efforts to prevent the laundering of criminal proceeds by shell companies, accountants and real estate agents, the Financial Action Task Force (FATF) said in a report.

Nokia phones are coming back. Nokia, once the world’s top mobile phone maker, will make a comeback on the smartphone market in the first half of 2017, the company and its licensee said.

McDonald’s is selling its China stores. A consortium led by private-equity firm Carlyle Group and Chinese conglomerate Citic Group Corp has neared a deal to buy McDonald’s stores in China and Hong Kong for up to $3 billion.

Putin wants an economic boost. Russia needs to introduce economic and tax reforms to end its stagnation, President Vladimir Putin said, urging the government to plan for 2019 and beyond, after the 2018 presidential polls.

Standard Chartered has a new top lawyer. The bank hired Barclays’ top regulatory lawyer Chris Allen as its new general counsel for clients and products. He will be based in Singapore and report to the bank’s most senior lawyer, general counsel David Fein.

There’ll be another big referendum next year. Turkey may hold referendum on constitutional change including a more powerful executive presidency at start of summer next year, Prime Minister Binali Yildirim said.

Saudi Arabia was hacked. The country has suffered a series of “destructive” cyber attacks over the past few weeks, according to a Bloomberg News report.

Immigration numbers rose. Immigration into the UK hit record levels just before Britain voted to leave the European Union, according to data from the Office for National Statistics.

There’s tension in Ukraine. Ukraine’s military said its two-day missile drill starting on Thursday would avoid the airspace over Crimea, sidestepping a possible confrontation with Russia which annexed the peninsula in 2014.

NOW WATCH: Richard Branson: Entrepreneurs need to fill the gap where government is lacking

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.