Morning in brief: Greece may need to restructure debt again

Greece may have to restructure its debt once again, the head of sovereign ratings at Standard & Poor’s has warned.

Moritz Kraemer says the next debt restructuring could involve other creditors, such as the International Monetary Fund, reports Bloomberg.

International

The leaders of the BRIC economic bloc – Brazil, Russia, India and China – have started talks to launch a new bank to fund development projects in developing countries, writes the BBC.

Companies

Construction giant Balfour Beatty has warned 12,000 staff in the UK could lose their jobs as the construction industry continues to struggle, according to the Financial Times.

Oil

France, the UK and US are in talks over the release of strategic oil reserves as prices remain at elevated levels, the Daily Telegraph reports.