Biden Says Russia Likely to Move Against Ukraine, as Blinken Visits the Region

President Biden said he expects Russia to make some kind of move against Ukraine and would face consequences calibrated to the degree of aggression, while the administration's top diplomat sought to reassure Ukraine's president of unified support from the West.

Mr. Biden, speaking at a White House news conference on Wednesday, reiterated that Russia would face punishing sanctions should it invade Ukraine, and he said that he is working to keep the North Atlantic Treaty Organization military alliance unified in its response. Mr. Biden said Russian President Vladimir Putin faces a stark choice and will regret choosing conflict.


Unilever Walks Away From Glaxo Consumer-Healthcare Deal

Unilever PLC said it wouldn't increase its $68 billion offer for GlaxoSmithKline PLC's consumer-healthcare business, effectively walking away from a potential deal that would have added a raft of drugstore staples to its portfolio.

The announcement Wednesday from the maker of Ben & Jerry's ice cream and Dove soap came after days of criticism from analysts and investors about the price and strategic fit of the proposed transaction. Unilever's shares have fallen sharply this week since news of a possible deal was disclosed over the weekend.


Russian Military Buildup Triggers European Defense Anxieties

PARIS-Russia's military buildup is rekindling tensions over whether Europe should take a bigger role in its own defense aside from the trans-Atlantic alliance with the U.S. that has underpinned the region's security in the postwar era.

The divisions surfaced Wednesday as President Emmanuel Macron of France marked his turn at the helm of the European Union's rotating presidency with a sweeping speech calling on Europe to chart its own course.


Citi targets Big Oil in biggest step among major banks on climate change

Citigroup Inc. will be tougher on clients in the oil-and-gas industry, changing the way the bank asks Big Oil to measure how much pollution their efforts spew into the air as a requirement for receiving financing while the world tries to curb global warming.

CitiC said Wednesday in a report that it aims for an "absolute reduction" in emissions from companies across its energy loan portfolio of 29% by 2030 from 2020. Citi did stress that dropping oil and gas clients if they are deemed to fall short of such targets would only be a last resort.


Write to paul.larkins@dowjones.com


Expected Major Events for Thursday

00:01/UK: Dec RICS Residential Market Survey

05:30/NED: Dec Unemployment

05:30/NED: Jan Consumer confidence survey

05:30/NED: Nov Consumer Spending

07:00/GER: Dec PPI

07:00/NOR: 4Q Business tendency survey

07:45/FRA: Jan Monthly business survey (goods-producing industries)

08:00/SVK: Dec Harmonized CPI

08:00/AUT: Dec CPI

08:00/SPN: Nov Trade Balance

09:00/POL: Dec Agricultural prices

09:00/NOR: Norges Bank monetary policy decision

10:00/CYP: Dec Harmonised CPI

10:00/MLT: Dec Harmonised CPI

10:00/EU: Dec Harmonised CPI

10:00/LUX: Dec Unemployment

11:00/UK: Dec Aluminium Production report

11:00/TUR: Turkish interest rate decision

15:59/GRE: Nov Balance of Payments

17:59/POR: Oct ICSG Copper Report

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(END) Dow Jones Newswires

01-20-22 0040ET