10 things you need to know before European markets open

Good morning! Here's what you need to know.

Uber is pushing back against the EU. It defended its business model in Europe's highest court on Tuesday, saying its service had made it easier for people to get around and cut pollution as it fights a case which could leave app-based startups facing tougher regulation.

Germany is pinning its hopes on Fillon. Finance Minister Wolfgang Schaeuble praised the economic program of French presidential contender Francois Fillon and said he hoped the conservative candidate's far-right rival Marine Le Pen would never become president.

The UK will talk to other EU leaders about Brexit. Britain cannot begin negotiations with the European Union until it has triggered the formal exit procedure but it can have discussions with the leaders, a spokesman for Prime Minister Theresa May said.

Germany takes over the presidency of the G20. It happens on Thursday, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following Donald Trump's US election victory.

France has a tough line on Russia. French Foreign Minister Jean-Marc Ayrault said that lifting European Union sanctions on Russia would weaken efforts to resolve the Ukraine crisis and hand a victory to Moscow.

The UK is closing a tobacco factory in Russia. Britain's Imperial Brands, the world's fourth-biggest tobacco company, will shut one of its two Russian factories in January, it said on Tuesday, citing increased taxes and the impact of changes to sales regulations.

The US economy grew faster than expected. Gross domestic product increased at a 3.2% annual rate instead of the previously reported 2.9% pace, the Commerce Department said in its second GDP estimate on Tuesday.

Business minister Greg Clark said the British government was "unashamedly pro-business." But that he wanted to strengthen existing corporate governance structures to avoid damaging public trust in the private sector.

Electric car stations are coming to Europe. German carmakers BMW, Daimler, Porsche and Audi and US competitor Ford said they would cooperate on a Europe-wide network of electric charging stations.

The EU reacted to THAT memo. Luxembourg Prime Minister Xavier Bettel said Britain cannot "have its cake and eat it," as the government in London distanced itself from a memo including the aim to have the best of both worlds from Brexit.

 

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Watch a US-led coalition airstrike wipe out an ISIS training camp near the terror group's capital city

The US-led coalition has provided ongoing air support for the Iraqi offensive against ISIS in Mosul, and as the fight rages for the terror group's last stronghold in that country, the coalition has also launched airstrikes against ISIS in Syria.

On November 19, the US-led coalition destroyed an ISIS training camp near Raqqa, the group's capital and its most important city in Syria, a clip of which you can see below.

In addition to the training camp, six strikes on that day targeted two ISIS tactical units, destroyed seven oil-production machines and one vehicle, and damaged a supply route.

The campaign in Mosul appears to have ISIS on the defensive, even as Iraqi forces and their allies advance slowly in the city's crowded streets. In contrast, efforts to attack Raqqa appear to have bogged down, with Kurdish militias making little progress and US-led strikes in the province mainly targeting the terror group's oil infrastructure.

Farther west, in Aleppo, a focal point in Syria's bloody five-year civil war, the tide appears to have turned decisively for the regime of Syrian dictator Bashar Assad, whose forces on Monday seized parts of the city that opposition rebels have held for four years.

Assad's Russian-backed military looks set to take control of all of Aleppo, and some 250,000 civilians who have been besieged in the eastern part of the city have gone without food, fuel, or aid for months.

Aid groups say civilians in the city are facing a "dire situation," but convoys with supplies have been unable to access eastern Aleppo. "In terms of east Aleppo, we just need the green light from the people who control the roads going in because, as you know, the east of Aleppo is besieged," said Ramesh Rajasingham, UN deputy regional humanitarian coordinator for the Syria crisis.

After the failure of a US-Russian ceasefire in September, US efforts to affect a diplomatic solution to the war have amounted to little, even with ongoing negotiations in Geneva.

The US has seen its leverage steadily eroded, in part because of Syrian-Russian gains on the ground, and in part because of US President-elect Donald Trump's suggestions he will cooperate with Moscow.

While the US-led coalition continues to strike ISIS fighters and infrastructure in Iraq and Syria, people not affiliated with the terrorist group have been targeted accidentally.

The US government said in early November that 39 civilians had been killed in 13 strikes launched in Iraq since March, while a Pentagon report released on Tuesday admitted that airstrikes mounted by the US, Australia, Denmark, and Britain on September 17 had in fact killed dozens of Syrian armed forces personnel, rather than ISIS fighters.

US Brig. Gen. Richard Coe said the strikes were not illegal, as the mistake was not deliberate or the result of negligence.

You can see the full video of the November 19 strike on the Operation Inherent Resolve Facebook page.

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HSBC: These are the 3 biggest mistakes people are making about the Italian referendum

Italy's upcoming constitutional referendum, in which the country will vote on a series of changes to the way Italy's institutional frameworks are structured, is one of the biggest political events in Europe in 2016. 

In the eyes of most commentators, the result is unlikely to be as seismic a shock to the continent as the UK's Brexit vote or Donald Trump's presidential victory, but it is a nonetheless significant event.

The vote - which will be held on December 4 - is now just over a week away, but people are still getting lots wrong about the implications of the result. So says Fabio Balboni, European Economist at HSBC in his latest note, circulated to clients on Friday.

Here are the three things Balboni things people misunderstand about the referendum and its outcome:

1. If Italy votes "yes" to Prime Minister Matteo Renzi's reforms, it is not going instantly usher in a new era of political change.

Balboni notes (emphasis ours):

"A "yes" vote would not mark the beginning of a new era of reforms and political stability, at least not before the upcoming election. Even if "yes" wins, Italy will have a general election at the latest by May 2018. With increasing opposition to Mr Renzi (including by members of his own party), it's unlikely there will be major reforms next year, or indeed a significant narrowing of the fiscal deficit in line with the government's recent commitments."

2. There will not be a snap general election if Renzi's reforms fail, and "no" wins.

As Balboni notes, Italy's constitution means that the power to call an election resides with the President, not the prime minister. That means Sergio Mattarella, not Renzi has the ability. It is unlikely he will do that.

"In our view, even if Mr Renzi resigns, the president would refrain from dissolving parliament in the absence of an electoral law for the upper house. After a "no", the upper house would still be in place (and subject to an old, fully proportional, law, which would make it very difficult to form a government)," Balboni writes.

The earliest an election could realistically be held is the second half of next year, less than a year before an election must be held under Italian law.

3. "No" will not lead to a new wave of populism in the country, and further the rise of the Five Star Movement.

Five Star, the left-wing populist movement, has gained significant support over the past year, with the party winning the mayoralty of the capital Rome. With populism sweeping Europe, some have argued that a rejection of the reforms could be seen as another vote against the establishment and spark a new surge in populist support in Italy.

HSBC disagrees, with Balboni arguing:

"If anything, the 5SM might stand a better chance if the "yes" vote wins and the new electoral law for the lower house ("Italicum") is confirmed.2 Instead, with a "no" vote, parliament would have to approve an electoral law (at least) for the upper house, which is likely to be closer to a proportional law, given how divided parliament is on the issue."

Some have also suggested that if Five Star gains power (highly unlikely) it could lead to a vote on Italy's EU membership and possible "Italexit." That won't, and pretty much can't happen, thanks to Article 75 of Italy's written constitution, which enshrines the fact that Italy cannot hold a referendum on anything related to international treaties.

This was discussed at length by Daniele Antonucci and Phanikiran Naraparaju at Morgan Stanley earlier in the month.

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What you need to know about the mysterious illness that's causing Selena Gomez to take a break from music

Earlier this year, artist Selena Gomez announced that she's taking some time off to focus on her health after suffering from anxiety and depression related to an earlier diagnosis of lupus, an autoimmune disease that required her to go through chemotherapy.

Gomez accepted the American Music Award on Sunday for favorite female artist in the pop/rock category, and in her acceptance speech touched upon the ways the disease had impacted her life.

"I think it's safe to say that all of you know my life whether I like it or not," she said in her acceptance speech. "I had to stop because I had everything and I was absolutely broken inside. I kept it all together enough to where I would never let you down but I kept it too much together to where I let myself down."

Here's what you need to know about the disease. 

Lupus is a chronic autoimmune disease

According to the Lupus Foundation of America, the disease can damage any part of the body, including joints, skin and internal organs, and causes the immune system to be unable to tell the difference between foreign invaders and healthy tissues.

Lupus therefore creates antibodies that can kill healthy tissue, in addition to causing inflammation, damage, and pain throughout the body. In other words, it causes the immune system to be overactive.

An estimated 1.5 million people in the US have the condition. It tends to affect women more than men, though most tend to develop the disease between the ages of 15 and 44.

Lupus can cause a number of symptoms beyond the ones Gomez is experiencing

Kenneth M. Farber, co-CEO and co-president of the Lupus Research Alliance, told People that the disease is "sometimes very misunderstood."

"It is not commonly known that depression, anxiety, and panic attacks can be side effects of lupus," Farber said.

The disease can also bring about a ton of other symptoms, including swollen joints, fever, fatigue, rashes, chest pain, hair loss, anemia, and more.

There's no cure, but there are treatment options

There are a bunch of different treatment options for lupus. It's treated by a variety of different medicines, ranging from mild to strong, according to the Lupus Foundation of America.

The drugs are geared towards reducing inflammation, suppressing the immune system, preventing flare ups, controlling symptoms and minimizing organ damage.

Gomez isn't the only celebrity that's opened up about the disease

Lady Gaga told CNN's Larry King in 2010 that she tested "borderline positive" for lupus, though she hasn't suffered from any symptoms. However, she noted that the disease runs in her family.

Nick Cannon revealed in 2012 that he has lupus, and even spoke with the Lupus Foundation of America about living with the disease in a 2014 interview.

Additionally, singers Toni Braxton and Seal also suffer from the disease, and have spoken about their struggles.

Lisa Ryan contributed to an earlier version of this post. 

SEE ALSO: Selena Gomez opens up about taking a break from music: 'I was absolutely broken inside'

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