Reuters

Stock markets nudged down from more than three-month highs on Wednesday, while the dollar stumbled as caution took hold ahead of a U.S. Federal Reserve meeting.

The head of the NATO military alliance said on Wednesday that the West could not ignore the rise of China and so it was important that Britain had a review of the role of Huawei in its 5G network to ensure its security.

German utility RWE plans to mass produce hydrogen from renewable energy sources as part of a supply deal with Thyssenkrupp so Germany's largest steel maker can gradually replace coal to power its blast furnaces.

The Bank of England looks set to give itself at least another 100 billion pounds ($127 billion) in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain's economy.

Finnair launched a share sale on Wednesday to raise 500 million euros ($568 million) from its existing investors, almost as much as its current market value as it seeks to strengthen its finances to cope with the coronavirus crisis.

British government borrowing is soaring to levels not seen since World War Two, something Prime Minister Boris Johnson and his finance minister Rishi Sunak will try to fix once the worst of the coronavirus crisis has passed.

The euro held below a three-month high against the dollar amid speculation the U.S. Federal Reserve might announce more steps to check a recent rise in bond yields later on Wednesday.

Germany should make provisions to ensure banks have sufficient capital in case of a wave of bankruptcies in Europe's largest economy caused by the coronavirus crisis, a senior OECD economist said on Wednesday.

U.S. Secretary of State Mike Pompeo on Tuesday chided British bank HSBC for backing moves by China to end Hong Kong's autonomy, saying such "corporate kowtows" got little in return from Beijing.

Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday.

World stock markets hovered below three-month highs on Wednesday, while the dollar stumbled ahead of a meeting of the U.S. Federal Reserve.

Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday.

Oil prices fell on Wednesday after a rise in crude and fuel stockpiles in the United States revived fears about oversupply and falling fuel demand in the world's largest crude consumer amid the coronavirus outbreak.

Swiss private bank Julius Baer faces investigation by watchdog FINMA over whether it followed correct procedures against money laundering in its ties with a former Argentine client, the Neue Zuercher Zeitung newspaper said on Wednesday.

The dollar fell against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day.

Asia's stock markets edged up to a fresh three-month high on Wednesday, with the dollar again under pressure but sentiment was largely cautious ahead of the U.S. Federal Reserve's next move.

Cathay Pacific Airways Ltd said it expects to repay the Hong Kong government for HK$19.5 billion ($2.52 billion) of preference shares over a three to five year period.

Shares of Cathay Pacific Airways Ltd surged as much as 18.7% on Wednesday, reaching their highest level since Feb. 24, after the carrier announced a HK$39 billion ($5 billion) recapitalisation plan led by the Hong Kong government.

European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.

Emirates, one of the world's biggest long-haul airlines, will lay off more pilots and cabin crew on Wednesday, sources said, in what would be a second day of redundancies.