IBT Staff Reporter

The fate of Ukraine's second biggest power plant was hanging in the balance on Wednesday after Russian-backed forces claimed to have captured it intact, but Kyiv did not confirm its seizure, saying only that fighting was under way nearby.

Pakistan's two leading car assemblers, Toyota and Suzuki, plan partial plant shutdowns next month due to unavailability of raw material amid import restrictions and exchange rate volatility, officials at both companies said on Wednesday.

Three quarters of the world's sovereign wealth funds now have a formal policy on environmental, social and governance investing, yet just 30% have set a target to reduce carbon emissions across their investments, a study on Wednesday showed.

Deck cadet Burak Kinayer, 19, is waiting to hear when he will set sail home to Turkey after five months of being stranded by the war in the Ukraine now a grain export deal has been signed.

Democrats on a U.S. House committee pressed the top executives of two U.S.

Top executives at U.S. gunmakers testified on Wednesday that criminals, not their products, were responsible for mass shootings, as they faced questions from a U.S.

Executives from major gun manufacturers are set to testify on Wednesday before a U.S. House of Representatives panel investigating recent mass shootings in Texas and New York.

From exile, Russia's TV Rain seeks to counter Kremlin storm

A Texas man bought dozens of guns from licensed dealers in the state before illegally reselling at least 16, U.S.

Several U.S. distressed debt asset managers are in fundraising talks with investors to boost their firepower, anticipating that a recession will create more opportunities to snap up and profit off troubled companies' debt, according to multiple sources.

The U.S. Justice Department has opened a criminal investigation into Cassava Sciences Inc involving whether the biotech company manipulated research results for its experimental Alzheimer's drug, two people familiar with the inquiry said.

The European Central Bank seems almost certain to face a test of its resolve to rein in excessive bond yields in coming weeks as the euro zone's biggest debtor, Italy, heads for elections that a rightist bloc with a eurosceptic past is expected to win.

Italian drinks group Campari reported a 19% rise in like-for-like sales in the first six months of the year, but warned that temporary supply constraints could affect shipments in the second half.

After recovering swiftly from the havoc caused by the COVID-19 pandemic, Bangladeshi garment manufacturers are now anticipating a slowdown as sales at key customers such as Walmart are hit by a spike in inflation.

UBS Group AG plans to set up a wholly owned mutual fund business in China, two people with direct knowledge of the matter told Reuters, as the Swiss bank seeks to expand its footprint in the country's $3.9 trillion retail fund market.

Hong Kong is set to see billions of dollars flowing in from the mainland with more Chinese companies expected to upgrade their listings in the city to tap into a bigger pool of capital amid the looming threat of delistings in the United States.

Turkish Defence Minister Hulusi Akar on Wednesday unveiled a centre in Istanbul to oversee the export of Ukrainian grains after a landmark U.N.

The headquarters overseeing exports of Ukrainian grains is set to be unveiled in Istanbul on Wednesday after a landmark U.N.

European shares scaled near seven-week highs on Wednesday as a string of strong results from companies including Russia-exposed lender UniCredit and Britain's Smurfit Kappa provided some comfort in an otherwise gloomy environment.

European shares scaled near seven-week highs on Wednesday following strong results from Britain's Reckitt Benckiser and Russia-exposed lender UniCredit, while investors awaited a U.S.

Indonesia on Wednesday launched road tests for two types of biodiesel containing 40% palm oil, hoping to conclude by the end of the year whether they are viable for public use, the energy ministry said.

A member of parliament fined $7 million for corruption and handed a 67-year jail term; a top civil servant with an asset seizure order against her; lawmakers convicted of bribery, economic crimes and impersonating corruption investigators.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season.

South Korea's prime minister said on Wednesday he would recommend to the president a pardon for Jay Y.

Rio Tinto reported a 29% drop in first-half profit and more than halved its dividend on Wednesday, as weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages hurt the global miner.

Not convinced by central banks' pledge to stamp on inflation, many investors are on the hunt for assets that will protect their portfolios from years of decline in the value of money.

Scientists advising the World Health Organization (WHO) on monkeypox say the window is closing to stop its spread, with cases currently doubling every two weeks, raising concerns that it will take several months for the outbreak to peak.