EMEA Morning Briefing : Stocks Seen Lower; Focus -2-

Iranian officials said that the country's air defenses had fended off an attempted attack by three small quadcopters targeting a munitions factory in the city of Isfahan, right next to a site belonging to the Iran Space Research Center, which has been sanctioned by the U.S. for its work on Iran's ballistic-missile program.

Russia Tightens Grip Around Bakhmut as Ukraine Awaits Western Tanks

BAKHMUT, Ukraine-Russia's invasion forces tightened the noose around this beleaguered city in eastern Ukraine, while Kyiv urged the West to provide longer-range firepower to counter Russia's missile barrages.

Ukrainian troops here described mounting difficulties in stopping the Russian advances around Bakhmut, the site of this winter's heaviest fighting in the 11-month-old war.

Some Western Backers of Ukraine Worry That Time Might Be on Russia's Side

Behind the decision to sharply step up Western military aid to Ukraine lies a worry in some Western capitals that time might be on Russia's side.

That concern suggests the window for Ukraine isn't indefinite and it needs powerful Western weapons-main battle tanks, other armored vehicles and more air-defense systems-soon to reinforce the momentum it achieved in offensive successes around Kyiv, Kharkiv and Kherson last year.

Amazon Raises Price Minimum for Free Online Grocery Delivery

Amazon Prime members who order groceries online through Amazon Fresh will soon pay a lot more to get free delivery.

Starting Feb. 28, online Amazon Fresh grocery orders of less than $150 will incur delivery fees, Amazon.com Inc. said in an email to Prime members.

Breakup of Google's Ad Business Would Reshape $500 Billion Sector

Google spent the better part of two decades building the world's most powerful digital advertising machine. Breaking it up would send shock waves through the $500 billion online-ad market.

If the U.S. government wins the antitrust lawsuit it filed last week and the Alphabet Inc. internet company is required to spin off technology for brokering ad deals across the web, the separated businesses would be valued at tens of billions of dollars, according to ad and media-industry executives.

Virtual Birkin Bags on Trial in Hermès Case Testing IP Rights

The Birkin handbag, made by French luxury brand Hermès, for decades has been a symbol of wealth, sold through exclusive shops and mysterious wait-lists at prices that reach tens of thousands of dollars or more.

A self-described entrepreneur and artist in 2021 set out to offer another way to own a Birkin, with a digital nonfungible token. Mason Rothschild created a series of 100 digital images he called MetaBirkins, depicting fur-covered purses in the same shape and style as the Hermès luxury product, which he sold as digital tokens on virtual marketplaces. The NFTs sometimes have sold at prices similar to the real handbags.

Gucci Names Sabato De Sarno as New Creative Chief

PARIS-Fashion house Gucci appointed Sabato De Sarno as its new creative director, seeking to reinvigorate the storied Italian brand after a period of rapid growth petered out.

Mr. De Sarno, 39 years old, began his career at Prada SpA before working for Dolce & Gabbana Srl. He then joined Valentino SpA in 2009, where he held positions of increasing responsibility. He was most recently fashion director at Valentino, overseeing both men's and women's collections.

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Expected Major Events for Monday

00:01/UK: Dec Zoopla House Price Index

00:01/UK: Jan CBI Growth Indicator Survey

00:01/UK: CBI Service Sector Survey monthly report

05:30/NED: Jan Producer confidence survey

05:30/NED: Dec PPI

07:00/SWE: 4Q Flash GDP

07:00/NOR: Dec Credit Indicator C2

08:00/SVK: Jan Economic sentiment indicator

08:00/SVK: Jan Business tendency survey

08:00/SWI: Jan KOF economic barometer

08:00/SPN: Dec Retail Sales

08:00/SPN: Jan Flash Estimate CPI

09:00/ITA: Dec Foreign Trade non-EU

09:00/ICE: Jan CPI

09:00/BUL: Dec PPI

09:00/GER: 4Q GDP - 1st release

10:00/CYP: Nov Industrial Production Index

10:00/EU: Jan Business & Consumer Surveys - Business Climate Indicator & Economic Sentiment Indicator

10:00/ITA: Dec PPI

10:00/BEL: 4Q Preliminary GDP

10:00/GRE: Dec PPI

10:00/CRO: Dec Retail trade

10:00/MLT: Dec PPI

10:00/CRO: Dec Industrial Production Volume Index

10:30/BEL: Jan CPI

11:00/POR: Dec Retail trade

11:00/IRL: 4Q Preliminary GDP Estimate

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

01-30-23 0015ET