Three South Korean companies agreed to plead guilty to conspiring to rig fuel prices at US military bases in the country, the Department of Justice announced on Wednesday.

Apple fell into bear market territory on an intraday basis on Wednesday as concerns grow that demand for the iPhone has peaked.

Poland’s anti-corruption agency has searched the offices of the country’s financial watchdog, a day after its head resigned following allegations that he solicited a bribe from the owner of one of the country’s banks.

AT&T remains confident it will overcome a Department of Justice appeal against its acquisition of Time Warner which is due to be heard in December.

BT is not planning a sale of its towers according to outgoing chief executive Gavin Patterson.

So much for that rebound. Wall Street gave up early gains as investors ignored a bounce in oil prices, instead turning their attention to utilities amid growing concerns about possible liabilities stemming from the California wildfires, and a slide in tech and financials.

A deputy governor of the Bank of Mexico and head of the country’s oil regulator have both stepped down early from their posts, a fortnight before Andrés Mañuel López Obrador is sworn in as president.

Canada Goose shares took flight on Wednesday after the purveyor of $1000 parkas coats hurdled past Wall Street’s earnings expectations and raised its guidance for the year amid an ongoing expansion in China.

Another day another U-turn.

The IMF came to the aid of Theresa May on Wednesday as she tried to build momentum behind her Brexit deal, warning that if the UK left without an agreement it would be hit by “widespread disruptions” to goods and services.

The US Department of Justice has declared President Donald Trump’s appointment of Matthew Whitaker as acting attorney-general lawful in a 14-page legal memo.

Wall Street opened firmly higher on Wednesday thanks to a rebound in oil prices and after tame consumer price inflation data helped eased concerns that the Federal Reserve could speed up its pace of interest rate tightening.

Volkswagen said on Wednesday it is transforming two of its German production sites into electric vehicle plants, ensuring that by 2022 it will boast “the largest network for the production of electric vehicles in Europe”.

US consumer price inflation picked up following two months of back to back declines, but the rise is unlikely to change the view that the Federal Reserve will push ahead with its gradual pace of interest rate tightening.

Macy’s has become the second big US retailer this week to lift its sales and profit outlook for the year in the latest sign the robust economy is giving a much-needed boost to the hard-pressed sector.

Theresa May has announced a government climbdown over fixed-odds betting terminals just two weeks after sports minister Tracey Crouch resigned over the issue.

Tencent, the Chinese online gaming and messaging group, posted a 31 per cent rise in profit in the third quarter after growth in online advertising, mobile payments and cloud services offset the impact of Beijing’s continuing ban on new internet games.

Jeremy Corbyn attacked the government’s “failure” to bring back an acceptable deal from Brussels as his opposition Labour party gears up to vote against the agreement in the coming weeks.

Deutsche Bank has expanded its cost-cutting plans with its CFO saying a previous target of bringing expenses down to €21bn by 2021 was not ambitious enough.

Italy’s government debt sold off sharply on Wednesday with the benchmark 10-year yield rising to a three-week high after the country’s government told the European Commission that it would forge ahead with its fiscally aggressive budget.

Minicab company Addison Lee has lost its appeal against a workers’ rights ruling, the latest in a series of significant “gig economy” cases.

Growth momentum in Europe is fading, with a broad measure of eurozone industrial production flagging in September.

The Financial Times headquarters is to be sold to M&G Real Estate for £115m, a price 28 per cent above the asking price set when Pearson, the former owner of the newspaper, put the building up for sale.

The German financial sector is ill prepared to weather a recession, as the long era of economic growth may have inflated asset prices and lured lenders into underestimating future credit risks, Bundesbank has warned in its Financial Stability Review.