Jan 27 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
* BP to freeze global salaries
* Russia downgraded to 'junk' by S&P
* Sika board steps up fight against Saint-Gobain takeover
* European banks warns capital rules will blunt QE
* BP Plc is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.
* Ratings agency S&P cut Russia's credit rating to junk status on Monday, bringing it below investment grade for the first time in a decade.
* The board of Sika, which is fighting a takeover by Saint Gobain, said on Monday that the Burkard family had forfeited the power to convene an extraordinary shareholder meeting to endorse its 2.75 billion swiss francs ($3.05 billion) deal with Gobain. The Burkard family are heirs to Sika founder Kaspar Winkler.
* European banks have warned that the effects of European Central Bank's quantitative easing will be blunted by tough capital rules which are meant to curb risks in secularisations. (on.ft.com/1H24A8Y) ($1 = 0.9007 Swiss francs) (Compiled by Shivam Srivastava in Bengaluru)