News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

EMEA Morning Briefing: U.S. Retreat to Hammer -2-

01/21/2022 | 12:41am EDT

A group of China Evergrande Group's international bondholders threatened to move forward with a legal enforcement plan that could potentially include liquidation of the company's assets, after being unable to engage substantively with the troubled property developer for months.

Advisers to the group on Thursday released a strongly worded statement accusing Evergrande of withholding crucial information about its liabilities and failing to engage with its creditors despite the company's recent pronouncements to the contrary. The bondholders, which include global funds, asset managers and distressed investors that hold Evergrande debt, are being advised by investment bank Moelis & Co. and law firm Kirkland & Ellis LLP.

Turkey's Erdogan Meets El Salvador's Bitcoin-Boosting Leader Amid Economic Crisis

ISTANBUL-Turkish President Recep Tayyip Erdogan met Thursday with the leader of El Salvador, the first country to make bitcoin legal tender, while the Turkish central bank kept interest rates on hold in a move that will likely do little to arrest the country's currency crisis.

With El Salvador planning to launch a $1 billion bitcoin-backed bond, Turks and foreign investors closely watched to see if the meeting between Mr. Erdogan and President Nayib Bukele in Ankara would mark a shift in how Turkey's government views cryptocurrencies, despite the past month's slump in bitcoin's dollar value.

Biden Seeks to Reassure Ukraine, Vowing a Strong Response to Russia and Transferring Weapons

President Biden said Thursday that any Russian troop movement into Ukraine would be considered an invasion, seeking to clear up confusion over his position on a potential incursion as the administration gave approval for U.S.-made weapons to be transferred to Kyiv.

"I've been absolutely clear with [Russian] President [Vladimir] Putin. He has no misunderstanding," Mr. Biden said at a White House event. "If any-any-assembled Russian units move across the Ukrainian border, that is an invasion."

Rio Tinto Reviewing Serbia's Move to Revoke Lithium Project Licenses

Rio Tinto PLC said Thursday it was reviewing the legal basis and implications of a decision by Serbia's government to revoke licenses for the mining company's lithium project.

"Rio Tinto is extremely concerned by the statement from the prime minister, Ana Brnabic, about cancelling the spatial plan and revoking licences related to the Jadar project," a company spokesman said.

U.K. Consumer Confidence Drops to a Near Year-Low on Inflation, Omicron Worries

British consumers turned more pessimistic in January as the spread of the Covid-19 Omicron variant and high inflation weighed on households' outlook of the economy and spending plans, according to a survey by the research firm GfK.

GfK's consumer-confidence barometer fell to minus 19 in January from minus 15 December, the lowest level since February 2021. Economists polled by The Wall Street Journal expected the confidence index to retreat slightly to minus 16.

BHP Shareholders Approve Unification Resolutions

BHP Group Ltd. said shareholders have approved a plan to end its dual listing in London.

The company still needs approval from a U.K. court, a hearing for which is expected to be held on Jan. 25, BHP said.

Peloton Warns Staff of Layoffs, Changes to Production

Peloton Interactive Inc.'s chief executive said the company is reviewing the size of its workforce and resetting production levels as the company adapts to more seasonal demand for its exercise equipment.

A note from Chief Executive John Foley was sent to Peloton employees Thursday following a news report that Peloton was temporarily halting production of its connected-fitness products. The report caused shares of the company to sink 24%.

Netflix Shares Sink as Company Sees Subscriber Growth Slowing

Netflix Inc. said it expects to add a much smaller number of subscribers this quarter than it did a year ago as it adjusts to growing competition and lasting disruptions from the coronavirus pandemic, sending the video streamer's shares down sharply.

The company on Thursday forecast an increase of 2.5 million subscribers in the current quarter, compared with four million a year earlier. It also slightly missed its subscriber estimate for the fourth quarter, adding 8.3 million subscribers instead of the projected 8.5 million.

Write to

Expected Major Events for Friday

00:01/UK: Jan UK Consumer Confidence Survey

07:00/DEN: Jan Consumer expectations

07:00/UK: Dec UK monthly retail sales figures

08:00/SPN: Nov Industrial Orders & Turnover

09:00/POL: Dec Average gross wages

09:00/POL: Dec PPI

09:00/POL: Dec Industrial Production Index

11:00/IRL: Dec WPI

14:00/BEL: Jan Consumer Confidence Survey

15:00/EU: Jan FCCI Flash Consumer Confidence Indicator

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

Write to us at

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to

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

(END) Dow Jones Newswires

01-21-22 0041ET

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED 2.05% 47.18 Delayed Quote.13.69%
BITCOIN (BTC/EUR) 0.76% 27854.4 End-of-day quote.-33.73%
BITCOIN (BTC/USD) 0.84% 29411.3 End-of-day quote.-38.39%
CHINA EVERGRANDE GROUP 8.55% 1.65 End-of-day quote.3.77%
MOELIS & COMPANY 0.55% 44.03 Delayed Quote.-29.56%
NETFLIX, INC. 1.56% 186.35 Delayed Quote.-69.07%
PELOTON INTERACTIVE, INC. -1.49% 14.51 Delayed Quote.-59.42%
RIO TINTO PLC 1.91% 5449 Delayed Quote.11.39%
S&P 500 0.01% 3901.36 Real-time Quote.-18.14%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.00% 61.75 Delayed Quote.-17.11%
Latest news "Economy & Forex"
07:01aAnalysis-Harangued by Trump, Georgia's governor poised to rebuke him in midterm vote
06:59aPummeled by Russian offensive in the east, Ukraine rules out ceasefire
06:54aRussia looms large on Scholz's first Africa tour as chancellor
06:39aUKRAINE AND RUSSIA : What you need to know right now
06:32aUKRAINE AND RUSSIA : What you need to know right now
06:25aBiden in Japan to launch regional economic plan to counter Beijing
05:07aBeijing reports 94 local daily COVID cases
04:21aU.S. looking to deepen economic partnership with Taiwan, Sullivan says
03:57aAirstrike hits university building in Bakhmut, Ukraine
03:57aUK PM Johnson has not intervened in 'partygate' report, education minister says
Latest news "Economy & Forex"