U.K. Economy Slowed More Than Expected

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The U.K. economy slowed more than expected in the final quarter of 2014 as construction activity slipped and tumbling oil prices hit North Sea oil and gas production.

Cheung Kong, Hutchison Whampoa Seek $7.1 Billion Loan

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Bankers have been asked to commit to the huge loan to finance Li Ka-shing’s spinoff of his real-estate assets from the two companies, people with knowledge of the deal said.

Siemens Hurt by Weak European Economy

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Siemens has stuck to a forecast for improved earnings in its current fiscal year despite a near 25% fall in first-quarter net profit, held back by Europe’s sluggish economy and lower oil prices.

Huawei to Focus on Higher-End Smartphones

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Huawei Technologies is focusing on selling more higher-end smartphones, a senior executive said, as it braces for tougher competition from low-cost Chinese vendors such as Xiaomi.

Russia Rating Slips to Junk, Hurting Ruble

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Russia’s fractured economy suffered another potential blow Monday after credit-rating firm Standard & Poor’s cut the country’s credit rating to junk.

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