The ruble plunged by about 12% Monday, meaning it's lost nearly 50% against the dollar this year. Early Tuesday in Russia, the central bank hiked its key interest rate for a sixth time this year to 17% from 10.5%.
A double-whammy of collapsing oil prices and Western sanctions is driving up inflation. Cash is flooding out of the country and the risk that some Russian companies may default is increasing. - Referenced Article
Google said it plans to close its news-linking service in Spain in response to legislation under which publishers will soon be able to force Internet sites to pay for re-publishing headlines or snippets of news.
In a statement, the search giant said the new law makes the Google News service unsustainable and that it will remove Spanish publishers from Google News sites worldwide and shut down this service in Spain on 16 December. - Referenced Article