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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