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Virgin Australia Holdings Ltd said on Wednesday it plans to cut domestic capacity by at least 2% and remove five aircraft from its fleet as it grapples with stagnant demand.

Oil prices fell on Wednesday, pulled down by a larger-than-expected build-up in U.S. crude stocks, after gaining for three straight sessions on expectations of an easing of in U.S.-China trade tensions.

U.S. Commerce Secretary Wilbur Ross said on Tuesday that very good progress was being made towards completing a phase one trade agreement with China and he was hopeful that it would be a precursor to a much more robust agreement.

Samsung Electronics Co Ltd said on Tuesday it will shut down a CPU research division at one of its U.S. facilities, a move that analysts said dimmed prospects for the tech giant's Exynos-branded mobile chips.

Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook.

Japan's Rakuten Inc said on Tuesday it expects to take a 103 billion yen ($947 million) loss in the latest quarter on its investment in U.S. ride-hailing firm Lyft Inc.

Chinese artificial intelligence firm iFlytek will strictly adhere to international laws, including a recent decision by the U.S. government to put the firm on a trade blacklist, its chairman said on Tuesday.

SoftBank Corp CEO Ken Miyauchi said on Tuesday WeWork's Japanese business can become profitable "in the near future".

Oil prices steadied on Tuesday as investors kept an eye on U.S. inventory data due later in the day, following two days of gains on positive economic data and hopes for a Washington-Beijing trade deal.

Air France-KLM will combine a sales drive with efficiencies including better fleet management to lift profit margins to 7-8% over the medium term, the airline group's Chief Executive Ben Smith told investors on Tuesday.

SoftBank Group Corp and its founder Masayoshi Son face a day of reckoning on Wednesday when the investment juggernaut is likely to post weak quarterly results, hit by hefty falls in the valuation of some of its biggest tech bets.

WeWork's Japan unit can become profitable "in the near future", the Japanese partner of the U.S. office-space sharing startup said on Tuesday, amid investor scepticism over its path to profitability.

SoftBank Group Corp has built a global conglomerate of telecoms and tech companies on an ever-growing mountain of debt that major rating agencies categorize as junk.

Oil prices rose on Tuesday on positive economic data and hopes for a Washington-Beijing trade deal that will lead to a de-escalation in tensions between the world's top economies.

Smithfield Foods' slaughterhouse in Virginia used to carve up pork for American sandwiches and holiday dinners. But workers now box up pig carcasses to ship to China, according to employees, local officials and industry sources.