Reuters

Expectations for second- and third-quarter corporate profits are deteriorating further in Europe, despite a gradual easing across the continent of lockdowns aimed at curbing the coronavirus pandemic, Refinitiv data showed on Wednesday.

Shares of Fujifilm Holdings Corp fell on Wednesday after Kyodo news reported that so far there has been no clear evidence of efficacy for its drug Avigan in treating the novel coronavirus in some clinical trials.

A company linked to China's scandal-hit Luckin Coffee Inc is seeking fresh capital, sources said, highlighting the ripple effect of Luckin's fabricated transactions as the chairman of both firms scrambles to avoid a cash crunch.

Oil prices rose on Wednesday amid signs of improving demand and a drawdown in U.S. crude inventories but worries over the economic fallout from the coronavirus pandemic capped gains.

Global growth in new renewable energy capacity will experience its first annual decline in 20 years this year amid the coronavirus pandemic but is expected to pick up next year, the International Energy Agency said on Wednesday.

HSBC Holdings PLC expects to achieve double-digit asset growth in its newly combined wealth business in Asia Pacific in the next three years, as it looks to grab a bigger share of the growing rich population, the unit's regional head told Reuters.

Exxon Mobil has relaunched the sale of its stake in Azerbaijan's largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and gas companies seeking to capitalize on the recent collapse in oil prices.

Asian stocks struggled to extend the week's rally on Wednesday and gold and bonds firmed as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about bumps in the global recovery from the pandemic returned.

Democratic lawmakers on Tuesday urged the Trump administration to answer "serious questions" about Taiwan Semiconductor Manufacturing Co Ltd's plans to build a U.S.-based $12 billion plant, flagging national security concerns and potentially undisclosed subsidies.

White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants a payroll tax holiday for U.S. workers in the hopes of staunching economic pain caused by the coronavirus pandemic.

U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration's fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying a payroll loan program for small businesses.

Johnson & Johnson on Tuesday announced that it would stop selling its talc-based Johnson's Baby Powder in the United States and Canada, making the decision after a consumer products "portfolio reassessment related to COVID-19."

Volkswagen AG has agreed to pay 9 million euros ($9.9 million) in a deal with a German court to end legal proceedings against its chairman and chief executive, who were accused of holding back market-moving information on rigged emissions tests.

The Federal Aviation Administration said Tuesday it would require Boeing Co and other aircraft manufacturers to adopt new safety-management tools following two fatal Boeing 737 MAX crashes that killed 346 people.

Five McDonald's workers in Chicago filed a class action lawsuit against the chain on Tuesday, accusing it of failing to adopt government safety guidance on COVID-19 and endangering employees and their families.

First Data Merchant Services LLC and a former executive will pay nearly $40.3 million to settle U.S. civil charges they knowingly processed payments and helped launder credit card transactions in four scams that harmed hundreds of thousands of consumers.

Shares of Fujifilm Holdings Corp tumbled more than 4% in early trade on Wednesday after a report its anti-flu drug Avigan was not showing apparent efficacy in coronavirus treatment in clinical trials so far.

Oil prices dipped on Wednesday as concerns over the lasting economic fallout from the coronavirus pandemic outweighed signs of improving demand and production cuts by major oil producers.

Asia stocks are likely to come under pressure on Wednesday, tracking declines on Wall Street while gold prices were buoyed by safe-haven demand as economic indicators pointed to more signs of recession.

Indigo Partners is teaming up with Oaktree Capital Management in its offer for Virgin Australia Holdings Ltd and will consider adding an Australian partner as the bidding process progresses, Indigo managing partner Bill Franke said.