IBT Staff Reporter

Global stock markets rallied in Europe and North America on Wednesday after three straight days of selling, and oil prices retreated from the peaks scaled over the last week after the United Arab Emirates pledged to boost its oil supply.

The new boss of Salvatore Ferragamo aims to boost sales by revitalising its product offer, though the Italian luxury group said the war in Ukraine and the lingering pandemic in some areas meant it could not give an outlook for 2022.

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China's factory inflation in February eased to the slowest annual pace in eight months, but analysts expect a pick-up in the coming months from surging prices of global commodities including oil, challenging policy-making to support the economy.

The euro took a breather on Wednesday ahead of this week's central bank meeting, while commodity currencies eased from recent peaks as investors reckoned war-driven surges in energy, grains and metals could end up crimping demand in the long run.

The global platinum market was hugely oversupplied in 2021, the World Platinum Investment Council (WPIC) said on Wednesday as it predicted another large surplus of the metal this year.

Wild swings in the prices of oil, metals and other raw materials generated more margin calls at trading firms on Tuesday, heightening worries that the volatility in commodities could spill over into broader markets as the war in Ukraine escalates.

U.S. officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC member nation, two people close to the matter said.

U.S. officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC member nation, two people close to the matter said.

Middle Eastern and Chinese sovereign wealth funds are likely to avoid new deals in Russia for now after its invasion of Ukraine, said the author of a report published on Wednesday that showed record investment last year by funds around the world.

Investors managing $2.4 trillion are calling on Credit Suisse to take tougher climate action, including cutting its exposure to fossil fuel assets.

Japan's economic rebound was softer than initial estimates in the final quarter of 2021, revised data showed on Wednesday, as the pickup seen in consumer and business spending was weaker than first reported.

When Texas marketing executive Bret Starr asked colleagues in Ukraine what they needed after Russia's invasion, he got a surprise.

Plummeting stocks, soaring commodity prices and tightening global financial conditions following Russia's invasion of Ukraine are clouding the outlook for markets already unsettled by the prospect of a hawkish Federal Reserve.

President Joe Biden heralded the U.S. embargo as a hit on "the main artery of Russia's economy" targeting President Vladimir Putin's most crucial source of revenue.

Britain said on Tuesday it would force Google, Facebook, Twitter and other online platforms to prevent paid-for fraudulent adverts after calls from regulators and consumer groups for a stronger crackdown on scams.

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Italy's second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around 7.4 billion euros ($8.1 billion), leaving its capital distribution plans hanging by a thread.

U.S. shale producers are unlikely to replace banned Russian oil imports due to a shortage of oilfield materials, equipment and labor and a dwindling backlog of wells waiting to be completed, energy executives and analysts said on Tuesday.

An International Women's Day rally in Mexico drew mass protests against violence on Tuesday, with marches in the capital passing by the presidential palace and national monuments that had been cordoned off with huge metal fences amid fears of unrest.

An intercity train in Argentina has derailed near the eastern town of Olavarr?a, injuring at least 21 people, local authorities said on Tuesday.

US intel paints Putin as aggrieved, angry over Ukraine war

Poland's decision to put all its MiG-29 fighter jets at the disposal of the United States was "a surprise move" by Warsaw, the U.S.

The United States rejected a surprise offer by NATO ally Poland on Tuesday to transfer its Russian-made MiG-29 fighter jets to a U.S.

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South Korea's presidential election was too close to call on Wednesday, exit polls showed, as voting ended in a race that will shape Asia's fourth-largest economy for the next five years.

South Korea's presidential election was too close to call on Wednesday, exit polls showed, with vote counting underway in a race that will shape Asia's fourth largest economy for the next five years.

South Korea's presidential election was too close to call after nearly 80% of the votes were counted on Thursday, in a race that will shape Asia's fourth largest economy for the next five years.