10 things you need to know before European markets open
Markets went haywire. After Mario Draghi unveiled the ECB's new stimulus package, the euro ripped higher against the dollar after plunging about 1.5% to as low as $1.0823.The world's biggest hedge fund had a big management shake-up. The Westport, Connecticut-based Bridgewater Associates has hired former Apple executive Jon Rubinstein as co-CEO. He will replace Greg Jensen in that role.
Serbia is flooding. The Serbian government declared a state of emergency amid fears of widespread flooding that could force thousands to leave their homes following days of heavy rain that is expected to continue overnight.The US Fed might hike rates as the EU lowers them. The US Federal Reserve will hike rates again by end-June and once more before year-end, according to economists in a Reuters poll who are more convinced about the trajectory of rates than a month ago.Saudi Arabia and Iran need to find peace. Wars and chaos in the Middle East will not end until Saudi Arabia and Iran can find a way to "share the neighbourhood" and make some kind of peace, US President Barack Obama said in a magazine interview released on Thursday.
VW is shedding jobs. Volkswagen plans to cut about 3,000 white-collar jobs in Germany through the end of next year as the carmaker grapples with the costs of its emissions test-rigging scandal, sources at the carmaker told Reuters.
Saudi Arabia just finished a massive military drill. Heads of state from across the Muslim world gathered in Saudi Arabia for the conclusion of a nearly three-week-long counter-terrorism military exercise that included 20 participating countries.
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