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By Ira Boudway

October 25, 2012 at 9:00 PM UTC

This article is for subscribers only.

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This article is part of the October 29, 2012 issue of businessweek.

1. Russia’s state-run oil company Rosneft will buy TNK-BP, a 50-50 venture between BP and a group of billionaires, for $55 billion. After the deal, Rosneft’s output will match ExxonMobil’s.

2. Target is selling its credit-card portfolio to TD Bank Group for the gross value of outstanding debt when the deal closes. The value was $5.9 billion when it was announced.