Greek deal
Euro zone finance ministers in Brussels reached a deal for a second bailout of Greece last night, with financing of 130 billion euros, Reuters reported. The agreement aims to cut Greece’s debt to 121 percent of GDP by 2020, from 160 percent now. Greece’s first bailout was in May 2010.
Walmart
Walmart’s fourth-quarter gross margins may have shrunk amid price reductions and holiday sales. The world’s largest retailer will report earnings before the market opens this morning.
Rykiel buyout
Hong Kong investment firm Fung Brands has bought 80 percent of French fashion house Sonia Rykiel in a partnership aimed at boosting the brand’s global presence.
Nifty Nokia
Nokia rose a fifth consecutive trading day in Helsinki as the world’s largest maker of mobile phones prepared to return to the Mobile World Congress in Barcelona, its first appearance on the show floor in three years.
Marts closed
US markets were closed yesterday in observance of Presidents Day.