BRUSSELS-The U.S. and the European Union reached a preliminary deal on controlling how digital data moves between their two markets, European Commission President Ursula von der Leyen said Friday.
The deal, if concluded, could resolve one of the thorniest outstanding issues between the two economic giants and assuage concerns of companies with operations on both sides of the Atlantic. An earlier deal regulating trans-Atlantic data flows was deemed illegal by the EU's top court in 2020.
Behind the Scenes, the IPO Playbook Is Changing
The IPO market has frozen over. When it thaws, it could look much different.
So far this year, just 22 companies have gone public in traditional initial public offerings, raising a combined $2.3 billion through Tuesday, according to Dealogic. That is a huge downshift from last year, when 79 companies had raised nearly $36 billion by this point.
German Business Confidence Deteriorated Sharply in March, Ifo Says
Business confidence in Germany took a hit in March, falling to a fourteen-month low, as high energy prices and uncertainty from the Ukraine war dampened the short-term outlook.
The Ifo business-climate index declined to 90.8 points in March from 98.5 points in February, according to data from the Ifo Institute released Friday. This is the lowest reading since January 2021.
Russian Central Bank Chief Tried to Quit Over Ukraine War
Russian Central Bank Gov. Elvira Nabiullina tried to resign after the invasion of Ukraine, people familiar with the matter said. Her effort was rejected by Russian President Vladimir Putin who instead nominated her for a third term.
Over nearly a decade Ms. Nabiullina has been one of Mr. Putin's most stalwart allies in buttressing the Russian economy against volatile oil prices and U.S. sanctions in a growing face-off with the West, while remaining one of the few liberals who hold senior positions in the Russian government.
Biden Calls for Russia to Be Expelled From G-20
BRUSSELS-President Biden said Russia should be expelled from the Group of 20 major economies and pledged the U.S. would take in up to 100,000 refugees fleeing Ukraine as he met Thursday with world leaders to discuss new sanctions and humanitarian aid in response to Moscow's invasion.
The gatherings in Brussels came amid concerns that Russian President Vladimir Putin could order the use of chemical or other unconventional weapons in Ukraine, a move Mr. Biden said would trigger a response from the U.S. and allies.
Biden Sticks With Longstanding U.S. Policy on Use of Nuclear Weapons Amid Pressure From Allies
President Biden, stepping back from a campaign vow, has embraced a longstanding U.S. approach of using the threat of a potential nuclear response to deter conventional and other nonnuclear dangers in addition to nuclear ones, U.S. officials said Thursday.
During the 2020 campaign Mr. Biden promised to work toward a policy in which the sole purpose of the U.S. nuclear arsenal would be to deter or respond to an enemy nuclear attack.
China Looks to Salvage Relationship With Europe
With its ties with the U.S. shakier than in decades, Beijing is becoming wary that its alignment with Russia during the Ukraine crisis could also cost it a relationship that has sometimes functioned as a buffer in its contest with Washington: Europe.
For years, Chinese leaders have deployed a divide-and-conquer approach to Europe, enticing some nations such as Germany and those in Central and Eastern Europe with both market access to the world's second-largest economy and greater Chinese investments in some of those countries.
Biden's Poland Visit to Spotlight Weapons, Humanitarian Aid for Ukraine
RZESZOW, Poland-President Biden was headed to this once quiet town that has developed into a principal hub for western military aid to Ukraine, signaling U.S. determination to support Kyiv with high-tech weaponry to punish Moscow for its invasion.
Mr. Biden is scheduled to meet his Polish counterpart, Andrzej Duda, a day after both of them attended a North Atlantic Treaty Organization summit where members pledged to reinforce the alliance's eastern flank, provide further military support to Ukraine, and impose high economic costs on Russia for its attack that began Feb. 24.
Ukrainian Migrants Find Easier Path to Enter U.S. at the Mexican Border
TIJUANA, Mexico-Vladymyr Ostapchuk and his family walked up to the U.S. border with Mexico on Sunday afternoon to ask for asylum, the final border they would cross after a multicountry trip over 20 days that started as Russian military forces invaded their native Ukraine last month.
Mr. Ostapchuk, a 33-year-old construction worker from Vinnytsia, fled Ukraine by land through Moldova with his two children, his wife, and her brother's family of four. They traveled through several countries before making their way to Germany, then on to Cancún, Mexico, and later Tijuana, just over the border from San Diego. Once in the U.S., they planned on heading to Vancouver, Wash., to reunite with relatives living there.
Trump Files Lawsuit Against Hillary Clinton, Dozens of Others
Former President Donald Trump has filed a lawsuit against Hillary Clinton and more than two dozen other defendants, including the Democratic National Committee, alleging that they conspired before the 2016 election to tarnish the image of the then-Republican presidential candidate and his campaign.
"In the run-up to the 2016 Presidential Election, Hillary Clinton and her cohorts orchestrated an unthinkable plot-one that shocks the conscience and is an affront to this nation's democracy," says the 108-page lawsuit filed in the U.S. District Court for the Southern District of Florida.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
BRP 4Q
dentalcorp 4Q
Farmers Edge 4Q
Economic Indicators:
None scheduled
Stocks to Watch:
Dentalcorp: Strengthens Partnership With Align Technology; Move Expands Access to Invisalign Clear Aligner Treatment Nationwide
Frontera Energy Announces 27.2 Degree API Light Crude Oil Discovery at Tui-1 Well in Ecuador; Second Consecutive Light Curde Oil Discovery on Perico Block; Preparing Permits for Long-Term Test, Expected to Begin in April
Frontera Energy Has Identified Additional Prospects on Perico Block That Are Being Matured for Future Drilling; Frontera Holds Approximately 16,700 Net Acres in Perico and Espejo Blocks in Ecuador
Victoria Gold 4Q EPS C$0.70; 4Q Rev C$110.647M
Expected Major Events for Friday
00:01/UK: Mar UK Consumer Confidence Survey
00:01/UK: Feb UK monthly automotive manufacturing figures
07:00/UK: Feb UK monthly retail sales figures
08:59/JPN: Mar Monthly Economic Report
09:00/GER: Mar Ifo Business Climate Index
09:00/ITA: Mar Consumer Confidence Survey
09:00/ITA: Mar Business Confidence Survey
09:30/UK: Feb Capital issuance
10:00/ITA: Feb Foreign Trade non-EU
14:00/US: Feb State Employment and Unemployment
14:00/US: Mar University of Michigan Survey of Consumers - final
14:00/US: Feb Pending Home Sales Index
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Friday
American Realty Investors (ARL) is expected to report for 4Q.
Blade Air Mobility Inc (BLDE) is expected to report for 1Q.
Brp Inc (DOO.T,DOOO) is expected to report $2.53 for 4Q.
Buhler Industries (BIIAF,BUI.T) is expected to report for 1Q.
Cadiz Inc (CDZI) is expected to report $-0.13 for 4Q.
Celsion Corp (CLSN) is expected to report for 4Q.
DATATRAK International Inc (DTRK) is expected to report for 4Q.
DXP Enterprises (DXPE) is expected to report $0.14 for 4Q.
Delcath Systems Inc (DCTH) is expected to report for 4Q.
Erasca Inc (ERAS) is expected to report for 4Q.
Finch Therapeutics Group Inc (FNCH) is expected to report for 4Q.
GWG Holdings Inc (GWGH) is expected to report for 4Q.
Genprex Inc (GNPX) is expected to report for 4Q.
Glacier Media is expected to report for 4Q.
Karnalyte Resources (KRLTF,KRN.T) is expected to report for 4Q.
Lassonde (LAS.A.T) is expected to report for 4Q.
Liberty Gold Corp (LGD.T,PLGTF) is expected to report for 4Q.
Lyell Immunopharma Inc (LYEL) is expected to report for 4Q.
Power Solutions International Inc (PSIX) is expected to report $-0.18 for 4Q.
Sabine Royalty Trust (SBR) is expected to report for 4Q.
Second Sight Medical Products Inc (EYES) is expected to report for 4Q.
Solitario Zinc Corp (SLR.T,XPL) is expected to report for 4Q.
Sunshine Oilsands is expected to report for 4Q.
Taylor Devices (TAYD) is expected to report for 3Q.
US Energy Corp (USEG) is expected to report for 4Q.
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ANALYST RATINGS ACTIONS
Alcoa Cut to Equal-Weight From Overweight by Morgan Stanley
Anaplan Cut to Neutral From Buy by Mizuho
EOG Resources Cut to Hold From Buy by TD Securities
EOG Resources Inc. Cut to Hold From Buy by TD Securities
Intl Flavors & Fragrances Cut to Hold From Buy by Berenberg
iRobot Raised to Outperform From Market Perform by Northland Capital Markets
Leidos Holdings Cut to Equal-Weight From Overweight by Wells Fargo
NetApp Cut to Neutral From Buy by B of A Securities
Paysign Cut to Neutral From Buy by Ladenburg Thalmann
Ping Identity Holding Raised to Buy From Hold by Stifel
Post Holdings Cut to Hold From Buy by Truist Securities
Reata Pharmaceuticals Raised to Buy From Neutral by Goldman Sachs
Schnitzer Steel Raised to Overweight From Sector Weight by Keybanc
Traeger Cut to Hold From Buy by Jefferies
Traeger Cut to Hold From Buy by Stifel
Werner Enterprises Raised to Equal-Weight From Underweight by Wells Fargo
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
03-25-22 0617ET
