Stock Markets Today: EU, China, Wall Street warnings, Credit … – Bloomberg

Romaine Bostick breaks down the day’s top stories and trading action leading into the close.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more.
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Good morning. Trade dispute between EU and China, tough new year ahead and Credit Suisse is going all out on rich clients. Here’s what people are talking about. 
The European Union will proceed with two cases against China at the World Trade Organization on Thursday after talks to resolve the issues with its largest trading partner failed to yield results. The cases relate to China’s restrictions on Lithuanian exports and Beijing’s coercive practices to limit patent holders from exercising their rights to protect their innovations before a court, said Valdis Dombroskis, the European Commission vice-president responsible for trade. The escalation in the trade dispute with China comes as the EU bloc is reassessing its relationship with the country, increasingly seen as a competitor and a rival on issues ranging from market openness to human rights.