Business News

The Baltic Exchange's main sea freight index posted its biggest ever daily percentage jump on Wednesday, propelled by a surge in capesize rates to a more than six-month high.

Japanese bank Nomura Holdings Inc and cryptocurrency partners Ledger and CoinShares launched Komainu, a custodian to safeguard digital assets for financial institutions, on Wednesday.

Search startup Onna Technologies Inc, which helps companies find information buried within emails, chats and storage services, announced on Wednesday $27 million in new funding from venture capital firm Atomico and past investors such as Slack Technologies Inc .

The U.S. Justice Department is preparing to proposes legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet's Google and Facebook have had for decades, a department official said on Wednesday, speaking on condition of anonymity.

U.S. Treasury yields edged lower on Wednesday as new outbreaks of the novel coronavirus and rising geopolitical tensions in Asia boosted demand for the safe haven debt. Benchmark 10-year yields have fallen from 11-week highs reached on June 5 when data showed that employers unexpectedly added jobs in May. Optimism over a quick economic recovery has been tempered by an increase in global cases of the coronavirus, with a new outbreak

Britain's highest court on Wednesday upheld an earlier Court of Appeal ruling that credit card companies Visa and Mastercard restricted competition in the way they set fees for retailers, opening the way for them to seek compensation.

The anti-China trade mood has reached U.S. kitchens, where a battle is being waged over competing visions of where and how cabinets should be made.

The European Commission called on Wednesday for global leaders to cooperate to buy bulk quantities of potential COVID-19 vaccines, to avoid "harmful competition" in the race for a shot and ensure any future vaccine is available for poor countries.

* Coronavirus crisis forces brands to cut costs, shed unsold stock

* Finance minister defends bailout agreement (Adds finance minister, investor comment, Thiele no comment)

Germany is not currently planning to take any further stakes in biotech firms, Finance Minister Olaf Scholz said on Wednesday after Berlin announced it would take a stake in German vaccine developer CureVac.

PepsiCo Inc's Aunt Jemima pancake mix will change its name and image in an effort by the brand to distance itself from racial stereotypes, NBC News reported on Wednesday.

Southwest Airlines said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up.

A new U.S. rule regarding China's Huawei Technologies Co Ltd is a needed "clarification" to help develop standards, U.S. Commerce Secretary Wilbur Ross said on Wednesday, adding that security concerns remain over the telecoms equipment maker.

The following are the top stories from selected Canadian newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

German Finance Minister Olaf Scholz said on Wednesday a bailout deal for airline Lufthansa was a good, balanced solution which he hoped shareholders would approve, adding he did not think the agreement was in danger of collapse.

Agricultural commodities merchant Louis Dreyfus said that its head of innovation and downstream strategy, Kristen Eshak Weldon, is to leave group at the end of this month.

For the past seven years, a Munich-based firm called riskmethods has tried to interest companies in buying software that allows them to track all their suppliers in a way that minimizes risks in operating globally spread supply chains.

The head of the Federal Aviation Administration is set to testify on Wednesday before a Senate committee on the safety certification of jetliners like Boeing Co's 737 MAX, still grounded after fatal crashes.

For the past seven years, a Munich-based firm called riskmethods has tried to interest companies in buying software that allows them to track all their suppliers in a way that minimizes risks in operating globally spread supply chains.