U.K. Finance Minister George Osborne also ruled himself out to replace David Cameron as P.M.
S&P's move was a fresh blow to Britain's economic standing after the Brexit referendum.
BASF, the world's largest chemical producer, will boost its automotive coatings business.
Siemens will pay $1.13 billion for a majority stake in the combined firm.
The move comes as countries around the world are cracking down on cigarettes.
The fourth-largest shareholder in Volkswagen has suffered a huge loss since emissions scandal broke out.
by Michael Lerner Seita argues that the plain-packaging requirement for cigarettes violates its intellectual property.Europe,Australia,cigarettes,France,Imperial Tobacco,public health,Seita,smoking,Michael Lerner
Combining O2 with Hutchison’s Three unit would have led to higher prices for all operators in the U.K.
By Michael Lerner Unions agreed to layoffs of a third of the staff rather than a likely path to bankruptcy.Europe,Akbar al-Baker,Italy,Layoffs,Meridiana,Qatar,Qatar Airways,Michael Lerner
Tory MP Jacob Rees-Mogg accused him of undermining the BoE's independence.
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