Teva got a shot in the arm on Thursday from the long-awaited approval by US regulators of its generic version of Mylan’s EpiPen allergy injector.

The US is prepared to slap additional sanctions on Turkey if it refuses to release a detained American pastor, Steven Mnuchin, treasury secretary, said on Thursday.

Bonds sold by textbook publisher McGraw-Hill Education have tumbled over the last 24 hours to hit their lowest level on record on Thursday.

DE Shaw, the $50bn quantitative hedge fund founded above a Marxist bookshop, has hired a prominent academic in the field of artificial intelligence to set up a new research group dedicated to machine learning — one of the hottest subjects in finance.

A solid morning session for Wall Street has put the Dow Jones Industrial Average on track for its biggest advance in four months.

Wendy’s, the fast-food chain whose board of directors is chaired by veteran activist investor Nelson Peltz, saw its shares rise to their highest in more than a decade on Thursday after it sold its stake in Inspire Brands, whose brands include Arby’s and Buffalo Wild Wings.

Bonds sold by indebted US retailer JC Penney slid on Thursday after the company reported a wider quarterly loss and cut its full-year outlook.

Symantec shares jumped more than 10 per cent on Thursday morning after confirming activist shareholder Starboard Value has sought to nominate five directors to the computer security software maker’s board.

Swiss commodity trader Mercuria has struck a deal that will see it acquire almost a third of Aegean Marine Petroleum in return for providing the struggling fuel oil company $1bn in credit facilities plus $30m in cash.

Aretha Franklin, the Queen of Soul, has died at the age of 76.

US battery start-up Sila Nanotechnologies, which has a partnership with BMW, has raised $70m in funding from investors including Siemens’ venture firm Next47 and Japan’s ATL.

French finance minister Bruno Le Maire said on Thursday that the state will vote in favour of the nomination of Air Canada’s current chief operating officer Benjamin Smith as the new chief executive of Air France-KLM.

US home construction rebounded by less than expected last month data on Thursday showed, prompting one economist to says housing is “the sole weak spot in the economy”.

Volvo Cars will press ahead with an IPO later this year after indications from potential investors that it will hit the $30bn valuation sought by Chinese parent group Geely, according to people familiar with the situation.

Shares in Germany’s Bayer fell 6 per cent on Thursday to their lowest point since 2013 after California’s top court declined to hear an appeal against the state’s decision to list an ingredient in herbicide Roundup as a known carcinogen.

Credit rating agency Fitch has scaled back its expectations of the UK reaching an orderly transition deal with the EU on Brexit, warning that “an acrimonious and disruptive no-deal Brexit is a material and growing possibility”. 

US futures tipped Wall Street for a higher open on Thursday after emerging market concerns dragged stocks lower in the previous session leaving the S&P 500 clocking in its worst day since late June.

US department store chain JCPenney lowered its full-year outlook following disappointing quarterly sales and widening losses, as it resorted to discounting to clear stock, sending its shares to a record low on Thursday.

Asda, the UK’s third-largest supermarket chain, said its same-store sales grew for a fifth consecutive quarter as it heads for a merger with Sainsbury’s, the country’s second-largest food retailer.

Walmart on Thursday unveiled its strongest US sales growth in more than a decade as traffic to its stores climbed and ecommerce accelerated.

Shares in Chinese e-commerce group JD.com came under pressure in pre-market action in New York after it revealed a weaker than expected rise in quarterly sales.

Brussels has hit back at claims from Matteo Salvini, Italy’s deputy prime minister, that restrictive EU’s spending rules were to blame for the Genoa bridge collapse that has killed 39 people.

Air France-KLM is facing another fight with its powerful trade unions, over the mooted appointment of Air Canada’s chief operating officer Benjamin Smith as chief executive of the group.

Donald Trump may take a dim view of the latest trade statistics from the European Union.