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Norinchukin Bank said on February 20, it would raise Y1.38 trillion (E11.6bn) of capital to offset heavy losses on its investment portfolio.

Saab Automobile sought legal protection from creditors on February 20, to allow it to restructure and seek new funding for continued production.

In its monthly report on February 20, the Bank of Japan said that economic conditions were rapidly deteriorating and would continue to worsen.

The Philadelphia Federal Reserve Bank reported on February 19 that the business activity index fell to -41.3 from -24.3 in January, an 18-year low.

A composite index of European manufacturing and service industries fell to record low in February of 36.2 from 38.3 in January, Markit Economics said on February 20.

U.K. retail sales rose 0.7% in January after increasing 1.7% in December, the Office for National Statistics said on February 20.