10 things you need to know before European markets open

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

Tokyo has been rocked by an earthquake. An earthquake with a preliminary magnitude of 4.9 shook buildings in Tokyo on Wednesday, but no tsunami warning was issued and there were no immediate reports of damage or injuries.

Merkel’s in trouble. The leader of the state of Bavaria warned German conservatives on Tuesday that they faced an “extremely threatening” situation after a “disastrous” state election on Sunday which he blamed squarely on Angela Merkel’s open-door migrant policy.

A London airport was shut down. British Black Lives Matter protesters on Tuesday chained themselves together on the runway of London’s City Airport, forcing all flights in and out of the business travel hub to be diverted.

The EU is rethinking its tax policy. European Union countries should better coordinate tax rules to avoid hitting corporations too hard, the council president said, in an effort to provide more balance to an EU campaign against tax avoidance by multinational companies.

Turkey doesn’t even want to join the EU. Turks are dismayed by the “double standards” the European Union applied to their country after the coup attempt earlier this year and are putting their government under “huge pressure” to end accession negotiations, the foreign minister said.

There’s still no Brexit plan. Prime Minister Theresa May has an open mind on what Britain’s relationship with the European will look like after Brexit and will not put all her cards on the table before negotiating their divorce, her spokeswoman said.

Lego is looking to boost US sales and production. Lego reported a decline in revenue growth and profits for the first half of 2016, but only because the Danish toymaker needed time to add production capacity to meet increased demand for its colourful building bricks in North America.

An online payment system met the real world. PayPal has entered into a deal with MasterCard that will allow payments in stores.

Climate change should form part of investing. BlackRock, the world’s largest asset manager, said all investors should factor climate change into their decision-making and doing so would not mean having to accept lower returns.

There’s a new spat between China and Hong Kong. Beijing has warned new Hong Kong lawmakers not to back independence for the semi-autonomous city after young anti-China activists won seats for the first time in key weekend elections.

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