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The euro headed towards a two-month high on Wednesday after the European Commission proposed a coronavirus economic recovery package worth in total 1.85 trillion euros ($2.04 trillion).

Greensill Capital said it has dropped a libel suit against Reuters over a story which said that the financing group had provided a false statement to market participants in 2018.

U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president's claims.

Ryanair expects Britain to join other European nations in dropping COVID-19 quarantine plans in the coming weeks, its CEO told Reuters on Wednesday, as he reported a "big surge" in holiday bookings from the country.

The automaking alliance of Renault SA , Nissan Motor Co and Mitsubishi Motors Corp outlined a new strategy on Wednesday whereby the strongest partner takes the lead in areas such as new technologies and parts procurement.

India's antitrust body is looking into allegations that Alphabet Inc's Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters.

Sweden's H&M expects the 2,500 furloughed staff at its headquarters in Stockholm to return to work in July, the world's second-largest fashion retailer said on Wednesday.

Oil prices fell on Wednesday after U.S. president Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong.

A Canadian judge will rule Wednesday on a key aspect of Huawei Technologies Co Ltd's Chief Financial Officer Meng Wanzhou's extradition to the United States. The judge will rule on double criminality, meaning whether the charges against Meng were illegal in both Canada and the United States at the time of her December 2018 arrest.

A Canadian judge will rule Wednesday on a key aspect of Huawei Technologies Chief Financial Officer Meng Wanzhou's extradition to the United States, with a favourable judgment seen as paving the way for the release of the Chinese executive after 18 months of house arrest.

Hugo Boss expects a recovery in its business in the third quarter at the earliest due to store closures and consumer caution during the coronavirus pandemic, the chief executive of German fashion house said on Wednesday.

China's Chery Automobile, which has a manufacturing partnership with Jaguar Land Rover (JLR) , is planning to sell its own-branded cars in the European Union and United States for the first time, its chairman said.

Ryanair expects Britain to join European nations in dropping COVID-19 quarantine plans in the coming weeks, Chief Executive Michael O'Leary said in an interview on Wednesday, reporting a "big surge" in holiday bookings from the country.

Renault , Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and instead said they would cooperate more closely on vehicle development to slash costs and salvage their troubled alliance.

H&M , the world's second-biggest fashion retailer, said on Wednesday it expects the 2,500 furloughed staff at its headquarters in Stockholm to be able to return to work by July.