Good morning, and happy Thanksgiving if you’re celebrating! These are the major news stories you need to know about before markets open in London and Paris.
OPEC’s Big Decision On Oil Output Comes Today. Oil-producing cartel OPEC’s Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June.
Samsung Shares Are Rallying On A Major Buyback. Shares of South Korean tech giant Samsung Electronics Co Ltd opened sharply higher on Thursday on the news that it will buy back $US2 billion (£1.27 billion) of its own stock.
Toyota Is Recalling More Dangerous Airbags. Toyota Motor Corp said on Thursday it would recall 57,000 vehicles globally to replace potentially deadly air bags made by Takata Corp, in a sign that the safety crisis surrounding the Japanese auto parts maker is far from contained.
Here Comes Draghi. At 11 a.m. GMT, ECB president Mario Draghi is speaking in Finland, following some remarks yesterday from vice president Vitor Constancio, which suggested that the ECB might do QE at the beginning of 2015.
Asian Markets Are Down. Japan’s Nikkei closed down 0.78% in trading Wednesday, while Hong Kong’s Hang Seng ended the session 0.51% lower.
The People’s Bank Of China Loosened A Little Again. The Chinese central bank did not sell any repurchase (repo) agreements, a change of policy that keeps funds in the banking system and a signal that the central bank hasn’t finished easing, according to Bloomberg.
Angela Merkel Wants To Relax Relations With Russia. The German chancellor suggested opening trade talks between the EU and Russia’s Eurasian Economic Union, as a means of keeping communication open with president Vladimir Putin, according to the Financial Times.
Thailand’s Military Junta Might Delay Elections For Two More Years. Thailand’s junta said Thursday elections in the military-ruled kingdom would likely be delayed until 2016, days after military officials ruled out lifting martial law any time soon.
Europe Wants A Worldwide ‘Right To Be Forgotten’. European privacy regulators want Internet search engines such as Google and Microsoft’s Bing to scrub results globally, not just in Europe, when people invoke their “right to be forgotten” as ruled by an EU court.
Police Have Basically Cleared A Major Hong Kong Protest Site. After a 24 hour operation, police have arrested many student protesters and effectively cleared the Mong Kok area of the city, according to the Wall Street Journal.