BAT agrees to buy Reynolds for $49 billion
British American Tobacco has agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc , creating the world's biggest listed tobacco company after it increased an earlier offer by more than $2 billion. BAT, which already owned 42 percent of Reynolds, will pay $29.44 in cash and 0.5260 BAT shares for each Reynolds share, it said, a 26 percent premium over the price of the stock on Oct. 20, the day before BAT's first offer was made public. Reynolds, the maker of Camel and Newport cigarettes, rejected the approach a month later, according to sources, although the two sides remained in talks.
Trump, Brexit uncertainty hit stocks and dollar, gold jumps
By Nigel Stephenson LONDON (Reuters) - Stocks, bond yields and the dollar fell on Tuesday, while gold rose as investors drew in their horns in response to comments on the dollar from U.S. President-elect Donald Trump and ahead of a speech on Brexit from British Prime Minister Theresa May. Trump's remarks that the dollar is too strong and hurting U.S. competitiveness pushed the greenback down across the board, even against sterling, which is under heavy pressure as May is expected to confirm her "hard Brexit" stance later on Tuesday. Britain's pound was higher on the day but still close to Monday's three-month lows, while the Japanese yen hit a six-week high as investors sought shelter from the mounting political risk of a week that also includes Trump's inauguration.
The Latest: Official: Istanbul attack executed in IS' name
Australia, Malaysia, China halt MH370 undersea search
The deep ocean hunt for missing passenger jet MH370 has been suspended after nearly three years without result, the Australian, Malaysian and Chinese governments said Tuesday. The Malaysia Airlines aircraft disappeared en route from Kuala Lumpur to Beijing on March 8, 2014, carrying 239 people in what has become one of aviation's great mysteries. The plane "has not been located" in the 120,000 square kilometre (46,000 square mile) search area of the southern Indian Ocean, a statement from the three nations said.
At Davos, retreat of globalization stokes fears for poor nations
In 2014, Arnold Kamler, CEO of New Jersey-based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. For business and political leaders gathered in the Swiss Alps town of Davos for this year's World Economic Forum, Kamler's experience - part of a process Morgan Stanley once dubbed the "re-industrialization" of America - is a cause for some anxiety. If a mix of accelerating automation and trade protectionism is the defining economic climate of the moment, globalization may well be in decline, and developing nations that failed to capitalize on the past two decades of economic integration - notably those in Africa - may have missed the boat altogether.
Istanbul gunman captured after more than 2 weeks on run
ISTANBUL (AP) ? Turkish police captured the gunman who carried out the deadly New Year's nightclub attack in Istanbul, with officials saying Tuesday that he's an Uzbekistan national who trained in Afghanistan and confessed to the massacre.
Inflation up, economy better, but ECB to continue stimulus
The Latest: China promises it will keep in contact on MH370
In the dark: Major power outage hits AmsterdamAMSTERDAM (AP) ? Large parts of Amsterdam were hit by a power outage early Tuesday, snarling traffic around the city as trains and trams were halted and many road signals stopped working.
Russia's Lavrov says Balkan tensions rising, EU must help de-escalateMOSCOW (Reuters) - Tensions are sharply rising in the Balkans and the European Union must help de-escalate the situation there, Russian Foreign Minister Sergei Lavrov said on Tuesday. Lavrov also told a news conference that ethnic Albanian forces should not be present in Serbian-populated areas in the north of Kosovo. (Reporting by Vladimir Soldatkin and Andrew Osborn; Writing by Alexander Winning and Katya Golubkova; Editing by Christian Lowe)