{"id":74366,"date":"2026-11-09T01:08:25","date_gmt":"2026-11-09T05:08:25","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/eu-sues-ibm-over-border-delays-china-auto-sales-plunge-27\/74366\/"},"modified":"2026-11-09T01:08:25","modified_gmt":"2026-11-09T05:08:25","slug":"eu-sues-ibm-over-border-delays-china-auto-sales-plunge-27","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/eu-sues-ibm-over-border-delays-china-auto-sales-plunge-27\/74366\/","title":{"rendered":"EU Sues IBM Over Border Delays; China Auto Sales Plunge 27%"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>EU-Lisa sues IBM (<a href=\"\/stock\/IBM\">IBM<\/a>)<\/strong> and partners Atos and Leonardo over years of delays and technical glitches in the <strong>Entry\/Exit System (EES)<\/strong> smart border rollout.<\/li>\n<li><strong>China\u2019s passenger vehicle sales plummeted 27.3%<\/strong> year-over-year in October to <strong>1.65 million units<\/strong>, as the &quot;Golden September, <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> October&quot; peak season failed to materialize.<\/li>\n<li><strong>South Korean regulators fined Baemin and Coupang (<a href=\"\/stock\/CPNG\">CPNG<\/a>)<\/strong> a combined <strong>631.9 billion won ($465 million)<\/strong> for unfair &quot;most-favored-nation&quot; pricing demands on restaurants.<\/li>\n<li><strong>US forces conducted strikes on Iran\u2019s Qeshm Island<\/strong>, targeting air defense and navigation systems; Iranian officials claim no vital infrastructure was damaged.<\/li>\n<li><strong>Piper Sandler issued major price target hikes<\/strong> for biotech leaders, raising Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>) to <strong>$305<\/strong> and Biogen (<a href=\"\/stock\/BIIB\">BIIB<\/a>) to <strong>$305<\/strong>.<\/li>\n<\/ul>\n<h2>Legal and Regulatory Developments<\/h2>\n<p>The <strong>European Union<\/strong> has initiated legal action against International Business Machines (<a href=\"\/stock\/IBM\">IBM<\/a>) and its consortium partners, <strong>Atos<\/strong> and <strong>Leonardo<\/strong>, following repeated delays to the bloc&#39;s new biometric border system. The agency overseeing the project, <strong>EU-Lisa<\/strong>, filed the suit in Estonia seeking remedies for missed deadlines that pushed the system&#39;s launch from 2022 to late 2025. The <strong>Entry\/Exit System (EES)<\/strong> has been criticized for software instability and hardware failures, including malfunctioning fingerprint scanners that caused significant airport congestion during its phased rollout.<\/p>\n<p>In South Korea, the <strong>Fair Trade Commission (FTC)<\/strong> imposed a provisional fine of <strong>331.1 billion won<\/strong> on <strong>Woowa Brothers<\/strong> (operator of Baemin) and <strong>300.8 billion won<\/strong> on Coupang (<a href=\"\/stock\/CPNG\">CPNG<\/a>). The watchdog alleged the delivery giants abused their 90% market dominance by forcing restaurants to offer prices and promotions identical to those on rival platforms. This &quot;most-favored-nation&quot; requirement reportedly stifled competition and pressured merchants to raise prices across the sector.<\/p>\n<h2>Global Market Trends<\/h2>\n<p><strong>China&#39;s automotive sector<\/strong> faced a sharp downturn in October, with retail passenger vehicle sales falling <strong>27.3%<\/strong> to <strong>1.65 million units<\/strong>. The <strong>China Passenger Car Association (CPCA)<\/strong> noted that the traditional &quot;Silver October&quot; sales boost was blunted by the expiry of purchase-tax incentives and weak domestic demand. While <strong>New Energy Vehicle (NEV)<\/strong> penetration reached a record <strong>67.8%<\/strong>, overall market volume is expected to finish 2026 at <strong>18.5 million units<\/strong>, well below the 2025 peak of 23.74 million.<\/p>\n<p>In the commodities space, BHP Group (<a href=\"\/stock\/BHP\">BHP<\/a>) signed a Memorandum of Understanding with <strong>GoMount<\/strong> regarding copper cathode trade. The agreement aligns with BHP&#39;s strategy to secure long-term offtake partners as global demand for copper rises, driven by energy transition and AI infrastructure needs. Meanwhile, the <strong>Japanese government<\/strong> announced a <strong>10 billion yen ($63 million)<\/strong> emergency package to bolster cybersecurity, specifically targeting regional banks and critical infrastructure following a series of high-profile data breaches.<\/p>\n<h2>Geopolitical Tensions<\/h2>\n<p>The <strong>Middle East<\/strong> remains a focal point of volatility following an overnight <strong>US strike on Iran\u2019s Qeshm Island<\/strong>. According to the semi-official <strong>Fars news agency<\/strong>, the strikes targeted military sites and navigation aids near the <strong>Strait of Hormuz<\/strong> but did not disrupt essential civilian services. The action comes as <strong>Israeli and American military officials<\/strong> reportedly signal support for further operations to reduce Iran&#39;s military capabilities, while diplomatic efforts led by <strong>Qatar<\/strong> continue to seek a breakthrough in nuclear and maritime security negotiations.<\/p>\n<h2>Analyst Upgrades and Adjustments<\/h2>\n<p><strong>Piper Sandler<\/strong> issued aggressive updates for the biotechnology sector on Monday. The firm raised its price target for Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>) to <strong>$305<\/strong> from $230, citing a strengthened pipeline outlook. Similarly, Biogen (<a href=\"\/stock\/BIIB\">BIIB<\/a>) saw its target hiked to <strong>$305<\/strong> from $245, supported by positive model updates for its lupus and neurology portfolios.<\/p>\n<p>Other notable analyst moves include <strong>Jefferies<\/strong> raising the price target for IGM Financial (<a href=\"\/stock\/IGM\">IGM<\/a>) to <strong>C$95<\/strong> from C$91, reflecting improved assets under management. Conversely, <strong>Raymond James<\/strong> cut its target for <strong>Karman Holdings<\/strong> to <strong>$75<\/strong> from $100, following a reassessment of the company&#39;s near-term growth trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways EU-Lisa sues IBM (IBM) and partners Atos and Leonardo over years of delays and technical glitches in the 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