10 Things You Need To Know Before European Markets Open

Good morning! Here are the major stories to be aware of before markets open in London and Paris.

HP Executives Are Hinting That More Layoffs Are Coming As It Splits. HP has laid off 41,000 people (with about 9,000 people left to go) under its current downsizing plan for 2014. On Tuesday, the company hinted that more layoffs could be coming with its plans to separate itself into two huge companies.

Uber Will Be Valued At $40 Billion (£25.5 Billion) In New Round Of Funding. Uber is close to raising a new round of funding that would value it between $35 and $40 billion, according to Bloomberg. T. Rowe Price is said to be among the new investors.

Asian Markets Are Mixed. The Nikkei closed down 0.14%, but the Hang Seng is currently trading up 0.65% ahead of the close.

Samsung Just Sold Off Stakes In Chemical And Defence Units For $1.7 Billion (£1.1 Billion). Samsung Group said on Wednesday it is selling stakes in defence firm Samsung Techwin Co and three other units for 1.9 trillion won ($1.72 billion) to Hanwha Group units.

Oil Prices Hit Another Four-Year Low On OPEC Rumours. Oil prices have been extremely volatile after rumours that OPEC, the cartel of oil-producing nations, had not agreed to a major production cut. WTI crude futures for January 15th are currently trading at $74.14 (£47.23).

Santander Has A New CEO. Jose Antonio Alvarez, the bank's former CFO, replaces Javier Marin, who became chief executive two years ago, according to the Financial Times.

Rosneft Is Cutting Its Output. Russia's oil giant Rosneft said Tuesday it had cut its daily output by 25,000 barrels because of "marketing conditions" that have seen the price of crude shrink by nearly a third since June.

UK GDP Is Coming. British GDP figures for the third quarter are out at 9.30 a.m. GMT. Economists expect no change from the 0.7% jump from the second quarter registered in the first estimate, with business investment expected to have risen 9.7% in the year to September.

Juncker's Investment Plan Is Set To Be Announced Today. The new European Commission president is expected to announce an investment programme intended to give the lifeless European economies a jump-start. The new European Fund for Strategic Investment will be funded to the tune of €21 billion, but its work will have an net effect on the economy of about 315 billion euros ($390 billion), according to an official estimate.

US Politicians Are Expressing 'Alarm' At The EU's Probe Of Google. A joint letter from both Democrats and Republicans in the House and Senate slammed the EU's approach to the massive US tech company, according to the Financial Times.