The world's central bankers agreed to water down some tough rules for
measuring big bank¿s financial strength. The new standard leverage
ratios could mean banks have to raise less capital to meet the Basel III
standards. In London, Britain¿s biggest sports retailer Sports Direct
invests in struggling Department Store Debenhams and offers to work with
management to improve sales. French pharma company Sanofi takes a 12%
stake in Cambridge, Mass. biotech, expanding its investments in
treatments for rare genetic diseases. German and French markets rose on
analysts¿ assessment of a stronger global market for the auto industry ¿
even though Europe itself doesn¿t look so promising.
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