Major U.S. stock indexes lost ground on lackluster earnings reports on Tuesday, while oil fell on concerns about U.S. crude stockpiles and Saudi Arabia's announcement that it ended its military campaign in Yemen.
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Asian, African nations challenge 'obsolete' world order
Leaders of Asian and African nations called on Wednesday for a new global order that is open to emerging economic powers and leaves the "obsolete ideas" of Bretton Woods institutions in the past.
Oil prices drop as Middle East tension eases
Oil prices extended declines from the previous session on Wednesday as tensions in the Middle East eased after Saudi Arabia ended an air strike campaign in Yemen, but industry leaders said the market could rebound as attention turned to rising demand.
Earnings, Greece weigh on European stocks
European stocks fell on Wednesday, failing to extend an overnight rally in Asia as investors looked to Greece's debt crisis and lurch towards possible default as an excuse to cash in gains chalked up earlier in the week.
Osram to separate from lamps and focus on automotive
Germany's Osram (OSRn.DE) plans to transfer its 2 billion euro ($2.5 billion) general lamps business into an independent legal structure, paving the way for a possible spin-off or sale and allowing it to focus on automotive lighting and components.
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Euro zone finance ministers will not set any deadline for Greece to come up with reforms to get more funding because such time limits lead to brinkmanship in negotiations, a senior euro zone official said on Tuesday.
Yum Brands Inc, owner of KFC and Pizza Hut chains, on Tuesday said business in its biggest market China is recovering from a meat scare at one of its minor suppliers and the division would finish the year strong.
Bill Gross of Janus Capital Group Inc said on Tuesday that German 10-year Bunds were "the short of a lifetime" and that the trade could earn 10-15 percent over a period of one to two years.
U.S. stocks were a mixed bag on Tuesday, with the Dow ending lower after a handful of uninspiring earnings reports while the Nasdaq closed near a record high following a proposed biotech merger.
Yahoo Inc missed Wall Street's revenue and profit forecasts as slight growth in its online advertising businesses was outweighed by higher payments to websites which send readers to Yahoo.
Japan's top trade negotiator sounded an optimistic note on Tuesday that he could reach a deal with the United States that is essential to creating a free trade pact covering 12 countries.
China will switch to a "registration system" for initial public offerings (IPO), ending the current approval process, the official China Securities Journal reported on Tuesday, a day after parliament began reviewing draft changes to the Securities Law.
Aberdeen Asset Management's head of Asian operations warned on Tuesday that Chinese money was moving "a bit like a casino" in domestic stock markets, while BlackRock called on China to reform its capital markets further to avert boom and bust scenarios.
The bill for shutting down Germany's nuclear power plants and building a safe disposal site for nuclear waste could rise to 70 billion euros ($75 billion), the head of a government commission told daily Frankfurter Rundschau in an interview.
