In brief: S&P lowers Russia’s credit rating to junk status

LONDON – Standard & Poor’s rating agency on Monday downgraded Russia’s credit grade by one notch to junk status, citing a weakened economic outlook.

The agency dropped the rating to BB+ from BBB- as it sees the country’s financial buffers at risk amid a slide in the country’s currency and weakening revenue from oil exports.

“In our view, the Russian Federation’s monetary policy flexibility has weakened, as have its economic growth prospects,” it said.

Russia’s economy has been hit hard by the double impact of weaker prices for its energy exports as well as Western sanctions.

The Russian currency tumbled on the downgrade, dropping nearly 7 percent to 68.5 rubles to the dollar.

Standard & Poor’s said Russia’s financial system is weakening, limiting room to maneuver for Russia’s Central Bank. It said the bank “faces increasingly difficult monetary policy decisions,” while also trying to preserve incentives for growth.

GM ignition death toll rises to at least 50

DETROIT – With five days left before the deadline to seek payments, compensation expert Kenneth Feinberg has decided that 50 death cases are eligible for money due to crashes caused by faulty General Motors ignition switches.

Feinberg, who was hired by the automaker to handle death and injury claims, released new totals Monday. The deputy administrator of the compensation fund said she expects a flurry of claims before Saturday’s deadline, and she also expects the number of deaths and injuries to rise.

GM was aware of faulty ignition switches on Chevrolet Cobalts and other small cars for more than a decade, but it didn’t recall them until 2014. On 2.6 million of them worldwide, the switches can slip out of the “on” position, causing the cars to stall, knocking out power steering and turning off the air bags.

Microsoft reports lower quarterly earnings

SEATTLE – Microsoft ended 2014 on a mixed note, earning a profit that met the expectations of Wall Street analysts but came in well below the previous year as the company dealt with restructuring charges and an income tax hit.

The company, based in Redmond, on Monday reported a profit of 71 cents a share during the three months ended Dec. 31, below the 78 cents a share the company earned in the same period a year earlier.

Charges related to the 18,000 layoffs Microsoft announced in July and an income tax charge as a result of an Internal Revenue Service audit lowered the company’s profit by a combined 6 cents a share, the company said.