Russia's credit rating looks set to tumble into junk for the first time in more than a decade, a move that would exclude its bonds from a couple of high-profile indexes and may set off another wave of capital outflows.
Europe
Russell Stover buy boosts Swiss chocolate maker Lindt
The takeover of U.S. candymaker Russell Stover will fuel growth for Swiss chocolate maker Lindt & Spruengli after strong demand for premium products boosted sales in 2014, the company said on Tuesday.
Oil prices down again as UAE defends holding production
Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.
E.ON sells most of Italian business to Czech-based EPH
Germany's largest utility E.ON AG has agreed to sell its Italian gas- and coal-fired power plants to Czech energy company EPH, ridding itself of unwanted assets from an acquisition spree in 2007.
Portugal Telecom shareholders postpone vote on asset sale
Portugal Telecom SGPS (PTC.LS) shareholders on Monday postponed until Jan. 22 a vote on the sale of its former operations by its merger partner, Brazil's Oi (OIBR3.SA), complicating the 7.4 billion euro ($9 billion) deal and possibly casting doubts on the long-agreed deal.
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A landmark legal opinion this week will remind the European Central Bank of the limits it faces as it advances towards money printing, while a tumbling oil price saps inflation in debt-strained Europe.
Britain's leading fashion brands are hoping to give menswear sales a lift by targeting younger, digitally savvy male shoppers with live streaming and social media to promote the twice-yearly mens fashion week that began on Friday.
Bankers are lining up just over 1 billion pounds ($1.51 billion) of debt financing to back private equity firm KKR’s potential bid for the UK assets of cement makers Lafarge (LAFP.PA) and Holcim (HOLN.VX), banking sources said on Friday.
A hacker claiming to be behind a cyber attack on Banque Cantonale de Geneve on Friday divulged confidential client information after the Swiss bank failed to meet demands for payment.
Germany's highest court has declined to hear a complaint brought by online taxi service Uber over a ban on its activity in the city of Hamburg, dealing a blow to the company.
Fitch Ratings cut its rating on Russia to 'BBB minus' from 'BBB', citing significant deterioration in the country's economic outlook due to the slump in oil prices and falling value of the rouble.
The European Central Bank is considering a hybrid approach to government bond purchases which would combine the ECB buying debt with risk sharing across the euro zone and, in a nod to German qualms, separate purchases by national central banks.
The London auction scene is gearing up for another big season, with the two biggest auction houses targeting buyers around the world for evening sales in February expected to generate several hundred million pounds.
Daimler (DAIGn.DE), maker of Mercedes-Benz and Smart-branded cars, said deliveries rose 11.4 percent in 2014, to a record 1,739,854 cars, thanks to a 30 percent sales jump in China and 25 percent higher registrations of Mercedes compact cars.
