10 things you need to know in markets today

Here's what you need to know in markets for Tuesday.

Australian cuts interest rates. The Aussie dollar got destroyed after the Reserve Bank of Australia cut interest rates to 2.25% from 2.50%. RBA explained in a statement: "The Australian dollar has declined noticeably against a rising US dollar over recent months, though less so against a basket of currencies. It remains above most estimates of its fundamental value, particularly given the significant declines in key commodity prices. A lower exchange rate is likely to be needed to achieve balanced growth in the economy."


Greece outlines a debt-swap plan. Speaking to the Financial Times, Greece's new finance minister Yanis Varoufakis said that instead of requesting a write-off of its €315 billion foreign debt, the government would ask to swap Greek debt for two new types of bonds linked to growth.

BP to announce earnings. The British oil company will announce fourth-quarter earnings for 2014 before markets open in London. According to The Wall Street Journal: "A poll of 21 analysts, conducted by BP, forecasts 'underlying' clean replacement-cost profit (a metric similar to the net income reported by U.S. oil companies, but factoring out things like one-time items and asset divestments) of $1.57 billion for the quarter, down from $2.8 billion a year earlier and $3 billion in the third quarter."

Asian markets are mixed. Japan's Nikkei closed down 1.27%. Hong Kong's Hang Seng is currently up 0.28%.

Shell to dismantle North Sea oil platforms. Royal Dutch Shell will outline plans Tuesday to remove the Brent Delta platform, one of four platforms in one the UK's biggest offshore oilfields. The move is part of a "multibillion-dollar project over the next 10 years that could be followed by other closures after the plunge in oil prices," the Financial Times said.

Russian banks are set to post massive losses. Research from the ratings agency Moody's indicates that Russian banks could lose as much as 1 trillion rubles (£9.6 billion; $14.5 billion).

Apple sold $6.5 billion (£4.3 billion) in bonds. The money it raised will go toward stock repurchases, dividend payments, and debt repayments. The decision comes despite the California-based company sitting on $178 billion (£118 billion) in cash.

The CEO of China Minsheng Banking resigns. Mao Xiaofeng, 42, stepped down from his post on Saturday amid media reports that he was part of a corruption investigation. Mao is being accused of giving fake jobs at Minsheng to the wives of two disgraced party leaders under investigation.

The New York Stock Exchange suspends trading of RadioShack stock. The NYSE said Monday it was taking steps to delist the shares of the troubled electronics retailer. "The decision was reached in view of the fact that the Company does not intend to submit a business plan" to address its noncompliance with the NYSE's continued listing standards, the body said in a statement.

Eurozone producer prices are coming. Eurostat releases December figures for the Eurozone's Producer Price Index at 10 a.m. GMT (5 a.m. ET).