Bayer reported a sharp rise in earnings as its results were boosted by its acquisition of US seed business Monsanto, but the German pharmaceutical and chemical group also outlined the widening legal fallout from its blockbuster deal last year.

Nokia has reported a surprise loss in the first quarter sending its stock down almost 10 per cent in early trading.

Climate change protesters that have brought key parts of London to a standstill this month hit the City on Thursday morning in an effort to “swarm” the Square Mile and cause roadblocks targeting the financial sector.

The merger talks between Deutsche Bank and Commerzbank to form the second largest euro area lender are on the cusp of collapsing, according to a person familiar with the matter.

Spanish utility Iberdrola said on Thursday heavy investments over the last year as well as higher tariffs and better efficiency in Brazil helped deliver an 11.9 per cent rise in core earnings in the three months to March.

Online food delivery group Delivery Hero raised its sales guidance for the year after a bumper first quarter that saw orders jump as it increases its focus on early stage markets.

A series of earnings reports set a test for the lofty valuations on global stock markets on Thursday, with European bourses slipping after a mixed run in Asia, although futures trade pointed to further gains on Wall Street.

Barclays’ trading division published mixed results for the first quarter, muddying the picture ahead of a boardroom showdown with an activist investor next week.

Sirius Minerals has found a European distributor for the fertiliser it plans to produce from a deep mine on the North York moors.

Flooring retailer Carpetright said its UK like-for-like sales had “improved significantly” in the latest three-month period, following an emergency restructuring deal to close shops and reduce rents last year.

Senior has become the latest aerospace and defence company to warn of the impact of the crisis surrounding Boeing’s 737 Max aircraft on its operations.

Carlos Ghosn is poised to be released from detention as early as today after the Tokyo District Court granted the former Nissan chairman bail set at ¥500m ($4.5m). 

The UK’s competition regulator has blocked the proposed combination of J Sainsbury and Asda, saying it would lead to increased prices, reduced quality and choice of products and a poorer shopping experience for all of their UK shoppers.

Hermès said on Thursday that accelerating sales, notably from China, helped the French luxury group to beat market expectations during the first quarter and continued to assuage investor concerns about a potential slowdown from this region.

Tullow Oil, the Africa-focused independent oil company, has cut its production forecast for this year after experiencing “technical issues” at its fields off the coast of Ghana.

Ross McEwan has resigned as chief executive of Royal Bank of Scotland after more than five years during which he returned the taxpayer-owned bank to profitability.

The UK law firm Fieldfisher is to merge with the Irish firm McDowell Purcell, as the legal sector in England and Wales steps up preparations for Brexit.

PSA suffered a 16 per cent drop in vehicle sales during the first quarter after pulling out of Iran and witnessing further slowdown in China, though revenues for the Peugeot owner only declined by 1 per cent to €18bn.

Low-cost carrier Norwegian Air Shuttle has said the grounding of its 18 Boeing 737 Max 8 aircraft will cost it up to NKr500m ($58m) as it reported a first-quarter pre-tax loss of NKr2bn.

UBS reported a 64 per cent plunge in first-quarter profit at its investment bank as revenue from its core equity trading and advisory businesses fell sharply, adding to pressure on long-serving chief executive Sergio Ermotti.

Swedbank is setting up an anti-financial crime unit as Sweden’s oldest bank struggles to get on top of a money laundering scandal that has cost it a quarter of its market capitalisation.

The Bank of Japan has promised not to raise interest rates before spring 2020 as it made a series of tweaks to its massive programme of monetary stimulus. 

India’s currency weakened below the Rs70 per dollar mark on Thursday amid pressure from a stronger US currency and a rally in oil prices.

Huawei has fought back against allegations that it is government-funded, telling reporters at a press briefing in Shenzhen that "Most of what the US government says, as we all know, is not true".