Business News

U.S. activist investor Cerberus is calling on Commerzbank to appoint two of its nominees to the supervisory board, cut costs and adopt a new strategy, as it battles to make a success of a big bet on German banks.

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.

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv

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.

* Shareholders circle, but showdown at AGM unlikely (Adds CEO speech to AGM, background on shareholders)

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.

* U.S. Fed set to release policy statement at 1800 GMT (Adds comment, updates prices)

Singapore's Health Sciences Authority said on Wednesday it granted conditional approval for Gilead Sciences Inc's antiviral drug remdesivir for the treatment of some patients with COVID-19 infection.

German minerals miner K+S aims to agree a sale of its salt business in the Americas by the end of 2020, Chief Executive Burkhard Lohr said on Wednesday.

China's outstanding total social financing (TSF) was 268.39 trillion yuan ($38.01 trillion) at the end of May, up 12.5% from a year earlier, the central bank said on Wednesday.

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.

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.

Japanese biotech AnGes Inc expects its coronavirus vaccine to be ready as early as the first half of 2021, if it can overcome supply chain and production hurdles, the company's founder said.

Stock markets seem keen to return to the black after Tuesday's stumble. Europe has opened 0.7% higher and U.S. futures are up around half a percent. But focus today is squarely on the U.S. Federal Reserve; while it is expected to maintain its interest rate and leave its asset purchase policy unchanged, the question is: will it act to cap longer-dated borrowing costs?

German broadcaster ProSiebenSat.1 Media faces massive headwinds due to the coronavirus pandemic but is focusing on making its business "storm-proof" and achieving stronger medium-term profitability, its CEO said 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.