News Headlines - 27 January 2015

▽S&P Cuts Russia's Rating to Junk; Sanctions and Oil Slump Hammer Ruble - Bloomberg

Russia’s foreign-currency credit rating was cut to junk by Standard & Poor’s, putting it below investment grade for the first time in a decade as policy makers struggle to keep economic growth alive amid sanctions and falling oil prices.

▽Anti-austerity economist says to become Greek finance minister | Reuters

Economics professor Yanis Varoufakis confirmed he would become Greece's next finance minister on Tuesday, promising to defy advice to "put up or shut up" and find solutions that favour all Europeans rather than just Greeks.

▽Opec chief says oil prices could soon rebound - FT.com

Oil prices may have hit a floor and could soon rebound, said the secretary-general of Opec, the oil producing cartel, on Monday.

▽Alleged Russian spy arrested in New York City - CNN.com

A Russian Spy ring operating in New York City to collect economic intelligence and recruit other potential spies was broken up by the FBI, who arrested one of the men today.

▽Auschwitz liberation ceremony will be the last for many survivors present | The Guardian

Almost 300 survivors of the Nazi German concentration and extermination camps at Auschwitz gather on Tuesday to mark the 70th anniversary of their liberation, in what for many will be the last such commemoration.