Business News

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

European shares rose on Wednesday, with banks leading the gains as investors awaited the U.S. Federal Reserve's first economic projection since the COVID-19 pandemic set off a recession in February.

Fujairah Oil Industry Zone on Wednesday published, via industry information service S&P Global Platts, the following weekly inventory data for oil products for the week ended June 8. Volumes are in thousands of barrels. Figures in brackets represent volume change from prior week calculated by Reuters. Week Light Middle Residual Total Distillates Distillates Fuels 2020

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.

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.

Hong Kong police arrested 53 people during protests on Tuesday evening that saw hundreds of activists take to the streets, at times blocking roads in the heart of the global financial hub, before police fired pepper spray to disperse crowds.

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.

The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.

Singapore kicked off a global rush to develop contact tracing apps for the novel coronavirus when the city-state launched an apparently new system in March.

Chinese companies are putting off plans for U.S. listings as tensions between the world's top two economies rise, lawyers, bankers, accountants and regulators involved in what has been a major capital-raising route told Reuters.

Japanese shares clawed back lost ground to end the morning trade almost flat on Wednesday as investors rushed to buy growth and start-up stocks on continued hopes of a swift recovery from an economic contraction sparked by the coronavirus crisis.

CrossFit Inc founder Greg Glassman stepped down as chief executive on Tuesday, days after he apologized for his tweet on the killing of an unarmed black man as it drew criticism and led to footwear brand Reebok ending its tie up with the fitness regimen.

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Asian stock markets eked out a 10th consecutive session of gains on Wednesday, but momentum ebbed as doubts about the global recovery from the pandemic returned ahead of the U.S. Federal Reserve meeting.

Asian stock markets eked out a 10th consecutive session of gains on Wednesday, but momentum ebbed as doubts about the global recovery from the pandemic returned ahead of the U.S. Federal Reserve meeting.

Bon Appetit's editor-in-chief, Adam Rapoport, resigned late Monday after a 16-year-old picture of him with brownface resurfaced online and drew harsh criticism, coupled with a subsequent claim of discriminatory pay at the Conde Nast-owned U.S. food magazine by a staff editor.

The dollar nursed losses against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting.