EMEA Morning Briefing: Stocks to Open Lower -2-

European Union officials on Monday said they would delay until October plans for their proposed digital-services tax, which Ms. Yellen had said risked undermining the deal reached recently by leaders of the Group of 20 large economies to set a world-wide minimum corporate tax of 15%.

OPEC Spat Spotlights Saudi Arabia's Struggle to Kick Oil Dependency

RIYADH-Saudi Arabia's crown prince pledged five years ago to unshackle the economy from oil by 2020. But as the world's top crude exporter seeks to maintain growth and generate jobs, the kingdom is redoubling its commitment to hydrocarbons and veering away from greener energy sources.

Saudi Arabia's move to dial back its longer-term plans is bringing it into conflict with other members of the Organization of the Petroleum Exporting Countries, or OPEC, such as the United Arab Emirates. The U.A.E. fears demand for crude will dry up faster than the Saudis think and is looking to sell as much as possible to finance the growth of other sectors such as tourism and technology. Saudi Arabia wants to go slow and extend the support it gets from crude further into the future. Last week, talks at OPEC broke down over whether to boost crude output.

Volkswagen Looks Beyond Car Ownership, Even as It Surges

Attempts to predict what the automotive industry will look like in 2030 only serve to highlight how uncertain its future really is.

On Tuesday, Volkswagen updated its long-term strategy under the tagline "new auto." Chief Executive Officer Herbert Diess and his team laid out how they saw the vehicle business changing this decade and how the company would use its scale as the market leader in Europe and China to take advantage.

Norwegian Cruise Line Sues Florida Surgeon General Over 'Vaccine-Passport' Ban

Norwegian Cruise Line Holdings Ltd. sued Florida's surgeon general, challenging the state's barring of businesses from requiring proof of Covid-19 vaccination and intensifying the standoff between the company and Florida.

The cruise operator is sticking with its policy to require full vaccinations for all crew and passengers, including children, for initial sailings through Oct. 31 after more than a yearlong hiatus and billions of dollars in losses. That policy, if maintained in Florida, would result in the company being fined as much as $5,000 for each passenger affected, it said.

Iranian Intelligence Plotted to Kidnap U.S.-Based Activist, Prosecutors Say

Iranian intelligence agents plotted to kidnap a U.S.-based human-rights activist and critic of the Islamic Republic and forcibly return her to Iran, federal prosecutors said, marking an escalation of Iran's attempts to silence dissidents around the world.

The alleged scheme targeted Masih Alinejad, an Iranian-American who has used her social-media profile, Western government contacts and cable news appearances to rally opinion against Tehran's treatment of women and the government policy of compulsory head scarves.

Italy 1, Cruise Ships 0. Rome Moves to Ban Cruise Vessels to Venice.

ROME-Italy suspended the passage of large cruise ships through the historic center of Venice, after the return of the giant vessels to the lagoon city since June reopened divisions between Venice's tourism industry and residents who want the behemoths banned.

Italy's government on Tuesday decided to stop large cruise ships from approaching Venice's canals and piazzas until new docking sites have been built on the edges of the lagoon. Campaigners against large cruise ships have argued for decades that the vessels, and the waves and pollution they cause, damage the delicate fabric of Venice.

Airbus Soars Past Boeing by Showing Little Mercy to Struggling Customers

Last summer, while his airline was burning through more than $1.2 million an hour, Deutsche Lufthansa AG Chief Executive Carsten Spohr signed onto a video call to meet his counterpart at Airbus SE, the world's biggest plane manufacturer.

At the top of Mr. Spohr's agenda, according to people familiar with the conversation: He wanted a respite from the billions Lufthansa owed for aircraft it had ordered years before the pandemic.

United and Mesa to Buy Electric Planes for Short Trips

United Airlines Holdings Inc. and a regional airline partner are hoping to use a new electric plane to revitalize short-haul flying.

United's venture fund and Mesa Air Group Inc. are investing in Heart Aerospace, a Swedish company developing a 19-seat electric aircraft. Tuesday's deal is the latest in a series of bets on new aircraft concepts yet to be tested but that United said could help it reduce carbon emissions.

Volkswagen Looks Beyond Car Ownership, Even as It Surges

Attempts to predict what the automotive industry will look like in 2030 only serve to highlight how uncertain its future really is.

On Tuesday, Volkswagen updated its long-term strategy under the tagline "new auto." Chief Executive Officer Herbert Diess and his team laid out how they saw the vehicle business changing this decade and how the company would use its scale as the market leader in Europe and China to take advantage.

Norwegian Cruise Line Sues Florida Surgeon General Over 'Vaccine-Passport' Ban

Norwegian Cruise Line Holdings Ltd. sued Florida's surgeon general, challenging the state's barring of businesses from requiring proof of Covid-19 vaccination and intensifying the standoff between the company and Florida.

The cruise operator is sticking with its policy to require full vaccinations for all crew and passengers, including children, for initial sailings through Oct. 31 after more than a yearlong hiatus and billions of dollars in losses. That policy, if maintained in Florida, would result in the company being fined as much as $5,000 for each passenger affected, it said.

Elon Musk Says 'Goal Is Not to Be a Car Company' in Defense of Tesla's SolarCity Deal

WILMINGTON, Del.-Elon Musk said Tesla bought SolarCity Corp. for one fundamental reason: to become more than a car company.

The Tesla Inc. chief executive made the argument as he wrapped up two days of sometimes feisty testimony in court, defending the roughly $2.1 billion tie-up completed in 2016 at a time both Tesla and SolarCity were financially struggling.

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Expected Major Events for Wednesday

04:30/NED: May International trade

05:00/FIN: Jun CPI

05:00/FIN: May Retail sales

06:00/UK: Jun UK producer prices

06:00/UK: Jun UK monthly inflation figures

07:00/SPN: Jun CPI

07:00/SVK: Jun Core & net inflation development

07:00/SVK: Jun CPI

07:30/SWE: Jun CPI

08:00/CZE: May Monthly Balance of Payments

08:00/BUL: Jun CPI

08:30/UK: May UK House Price Index

09:00/EU: May Industrial Production

11:00/TUR: Turkish interest rate decision

12:00/POL: May Balance of payments

All times in GMT. Powered by Kantar Media and Dow Jones.

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(END) Dow Jones Newswires

07-14-21 0016ET