Growing damage from Russia's financial crisis on neighboring former Soviet states could bury President Vladimir Putin's dream of creating an economic union to rival the United States and European Union.

U.S. stocks slumped shortly after the opening bell on Wednesday to extend recent declines, as worries over weak economies globally continued to pressure commodities and as U.S. retail sales for December fell short of expectations.

Goldman Sachs Group Inc had to write down its loan to the troubled Portuguese bank Banco Espirito Santo SA in the fourth quarter, cutting the bank's profit and some employees' bonuses, people familiar with the matter told Reuters.

Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.

Toyota Motor Corp (7203.T) is ending a three-year freeze on building new vehicle assembly plants and is looking to open two new assembly plants in China and another in Mexico, four executives familiar with the company's plans said.

Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's (VALE5.SA) (VALE.N) nickel business, Bloomberg reported.

Unease over the global economy engulfed commodities and dented Asian equities on Wednesday, while the euro loitered near nine-year lows as investors bet the European Central Bank was just a week away from launching a new stimulus campaign.

Oil prices fell more than 1 percent on Wednesday after touching their lowest in nearly six years the previous session, extending losses alongside a sell-off in other commodities.

Mindbody, a company that makes software to help run fitness and yoga studios, has selected banks for a potential initial public offering that could value it at more than $700 million, according to people familiar with the matter.

Etsy Inc, a global marketplace for handmade goods and crafts supplies, is planning an initial public offering that could take place as soon as this quarter, Bloomberg said, citing people with knowledge of the matter.

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.

Pet supply retailer PetSmart Inc (PETM.O) disclosed on Tuesday it was in talks to acquire or merge with a privately held rival, but ended talks over competition and antitrust concerns.

China's e-commerce giant Alibaba Group Holding Ltd said on Wednesday it had bought a controlling stake in online marketing company AdChina, an investment aimed at bolstering its advertising business.

Tesla Motors Inc (TSLA.O) plans to boost production of electric cars to "at least a few million a year" by 2025 from fewer than 40,000 last year, Chief Executive Officer Elon Musk said Tuesday.

Mark Zuckerberg and Xiaomi Inc CEO Lei Jun discussed a potential investment by Facebook in China's top smartphone maker ahead of its $1.1 billion fundraising last month, but a deal never materialized, several people with knowledge of the matter told Reuters.

Roche has boosted its efforts to tackle antibiotic resistance, striking a deal worth up to $750 million with Japan's Meiji Seika Pharma and Canada's Fedora for a drug that can restore the power of antibiotics to combat infections.

U.S. small business optimism jumped in December to its highest level in more than eight years, the latest sign of strength in the economy even as dark clouds settle over global growth.

MetLife Inc (MET.N) on Tuesday sued U.S. regulators over a decision to subject the insurer to tougher oversight because it harbors enough risk to endanger the financial system if the next crisis hits.

U.S. stocks ended down slightly in a volatile session on Tuesday, led by a drop in materials and energy shares following further weakness in commodity prices.

Investors had hoped that the biggest U.S. banks would boost dividend payments substantially in 2015, but recent events including slumping oil prices will make it harder for banks to pay out more.

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.

A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday.

United Airlines is assessing whether to outsource jobs at airports around the country in a cost-cutting effort that could impact some 2,000 workers.

Huawei Technologies Co Ltd likely booked a 17 percent increase in operating profit last year, as worldwide adoption of fourth-generation (4G) mobile technology boosted earnings at China's leading telecommunications equipment maker.

The Twitter and YouTube accounts for the U.S. military command that oversees operations in the Middle East were hacked on Monday by people claiming to be sympathetic toward the Islamic State militant group being targeted in American bombing raids.

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.

North Dakota oil producer Oasis Petroleum welcomes having hedge fund SPO Partners & Co as its largest shareholder, Chief Executive Tommy Nusz said in an interview on Monday, commenting on a fund that has been a shareholder since Oasis went public in 2010.

Malaysia's proposed $20 billion merger to create the world's biggest Islamic bank is likely to be scrapped after CIMB Holdings and RHB Capital failed to agree on new deal terms, people familiar with the matter told Reuters.

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.

The chief executive of Smith & Nephew, the medical device maker that has been the subject of persistent takeover rumors, on Monday said mergers designed to gain size do not change market share dynamics in the hip and knee replacement business.