German auto giant Daimler is recalling 840,000 vehicles in the US after the Takata's airbag inflators issue came into light. The recall costs and repairing expenses will result in cash outflow of €340 million ($383 million) for Daimler. It's estimated that so far 14 automobile firms recalled about 24 million vehicles in the US.

The UK stocks, after suffering losses for three sessions in a row, rebounded. Barclays and other financial companies led the gains. After suspension of trading for a day, the trading in Barclays stock resume on Monday. The FTSE 100 index dropped 9.2 percent in 2016 so far.

Danish brewer Carlsberg A/S is hoping for higher earnings supported by Asian markets. Though eased marginally, the fourth quarter earnings were above analysts' forecasts. The world's fourth biggest brewer Carlsberg is slashing jobs and closing down breweries.

U.S. Bankruptcy Court of the Southern District of New York on Tuesday ended the liquidation proceeding of the MF Global. Judge Martin Glenn ruled to close the estate of the defunct brokerage and repay the customers $1.8 billion .

Analysts have updated their outlooks towards SoftBank, majority of whom have put a ‘Outperform’ tag for the embattled Japanese concern. Meanwhile, SoftBank’s stock has witnessed a fall of 27.60% since July 2, 2015 ahead of releasing earning figures. The stock price fall is due to its $22 billion investment in Sprint which has turned to be bad debt.

The US economy woes are not due to oil price drop, opine economists, who rule out the common view of financial media, government officials and academic that attribute the oil price drop to the American economic woes. The oil price fall will be detrimental to oil producing nations, but it's a boon to the rest of the economy.

The video messaging application stroke a deal with Viacom on Tusday. Snapchat will be able to hit the mainstream as Viacom will sell its advertising, and Viacom is able to enter the Internet market.

As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.

For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.

The International Energy Agency (IEA) has warned that short-term risks downside have increased as oil glut is expected to be worse than anticipated. With Iran resuming oil production, the sluggish global demand is adding further to the woes. OPEC's continuation of oil production is keeping pressure on oil prices.