ZURICH Swiss engineering group ABB revealed the discovery of what it called a "sophisticated criminal scheme" in its South Korean subsidiary on Wednesday, which it expects will result in a $100 million (£80 million) pre-tax charge.
LONDON Britain's economy accelerated at the end of 2016 but growth for the whole year was weaker than previously thought and there are signs of weakness ahead, data showed, suggesting the Brexit vote will start to take its toll in 2017.
BERLIN German business morale brightened unexpectedly in February as managers' assessment of their business situation reached its highest level in more than five years, supporting expectations that Europe's biggest economy got a robust start in 2017.
KUALA LUMPUR Malaysia's state oil firm Petroliam Nasional Bhd (Petronas) and Saudi Aramco are expected to sign an agreement to collaborate in Malaysia's Refinery and Petrochemical Integrated Development (RAPID) project, two industry sources said on Wednesday.
FRANKFURT German utility RWE scrapped its dividend for the second year in a row after taking writedowns on the value of its fossil-fuel based power plants, which are struggling to compete against solar parks and wind farms.
LONDON Tobacco company Imperial Brands and nutritional ingredients maker Glanbia are attractive targets for Japanese companies looking to expand into international markets, Exane BNP Paribas analysts said in a note to clients.
LONDON European shares climbed to a new 14-month high on Wednesday, supported by well-received earnings updates from companies such as Lloyds, Telefonica Deutschland and Scor.
MILAN Italian banks are stuck in what stressed-debt experts call purgatory, still forced to pay a heavy price for their past sins despite loan data that suggests they are turning a corner.
LONDON British farmers are holding back on big investments as they brace for the UK's exit from the European Union, their largest market and a vital source of subsidies.
LONDON Britain's biggest housebuilder Barratt said it will build around 20 percent fewer homes in London in 2016/17 and nationwide completions were unlikely to grow very much despite government efforts to boost supply.