Lowe’s shares declined in pre-market New York trading after the US home improvement chain disclosed adjusted quarterly profits that missed expectations, contrasting with upbeat results from its bigger rival Home Depot.

The commander of the US Seventh Fleet has been relieved of duties just three days after a fatal collision between a guided missile destroyer and an oil tanker.

The diverging economic outlook for the UK and the eurozone has driven the single currency to its strongest level in eight years against sterling.

EnQuest was among the biggest fallers on the FTSE all-share index in early trading on Wednesday after it took an axe to its full year production guidance, fuelled by disappointing volumes so far from its key oil field in the North Sea.

Inflation in South Africa fell further than expected for a second month in a row in July, supporting the central bank’s recent decision to cut interest rates in an effort to pull Africa’s most industrialised economy out of recession.

Economic activity in the eurozone has picked up in August after a disappointing July, with a strong performance in the manufacturing sector offsetting a slight decline in the services industry, according to a series of closely-watched surveys.

The common currency shed its losses and rose against the dollar on Wednesday morning on the back of optimistic readings on how the bloc’s two biggest economies performed this month.

Ever wanted to know why central banks resorted to mass bond buying, or quantitative easing, in the depths of the global financial crisis?

Mario Draghi, the European Central Bank’s president, has given an explanation at a gathering of Nobel Laureates and economics students in Lindau this morning, saying it was all down to what economists dub “financial frictions”.

Steinhoff, the acquisitive South Africa-based retail group, has confirmed it intends to list its African assets separately on the Johannesburg stock exchange, as the group looks set to revive its merger with food retailer Shoprite.

Europe’s traditional summer vacation season did nothing to slow growth in Germany this month, judging from a series of closely-watched surveys, which showed business activity rebounding strongly after a relatively disappointing July.

Independent News & Media, the Irish media group controlled by the businessman Denis O’Brien, has reported a near 20 per cent decline in first half profits amid “continued revenue challenges”.

Sberbank, Russia’s state-owned banking giant, continued to smash records by posting net profit of Rbs185.6bn on Wednesday for the second quarter of 2017.

WPP is on track for its worst day of trading since the financial crisis, after the advertising group reported falling like for like sales and warned that its full-year sales growth will be lower than expected.

The rate of expansion in France’s manufacturing sector perked up in August to the swiftest pace in more than six years, helping to offset a slight growth slowdown in the country’s services sector, according to a closely watched survey released on Wednesday.

WPP’s net sales are one of the least useful indicators of the strength of the advertising market, and indeed the global economy, since, well, its last set of net sales figures. This is, of course, simply because the world’s largest advertising holding company typically makes more acquisitions than most others combined, and benefits greatly from currency effects. So, after lifting its net sales 4.8 per cent in the first quarter primarily through £704m of acquisitions, it was no surprise – and of no real significance – that this morning’s half year net sales showed a 13.7 per cent rise over the six month period, thanks to further acquisitions and foreign exchange benefits – they boosted sales by 2.7 per cent and 11.5 per cent respectively. Among the new purchases in the period was brand design agency, Design Bridge.

Playtech has agreed a $150m deal to expand its trading software division, as the FTSE 250 group – which made its name providing technology for online gambling – looks to strengthen its offering for financial businesses.

Game Digital said it is “accelerating” its push into esports and other video gaming events, as the struggling retailer unveiled a 5 per cent fall in full-year revenues.

Laura Ashley unveiled a more than 70 per cent slump in full-year profits and decided not to pay a full-year dividend following a difficult trading period that the homewares and clothing retailer blamed partly on the weak pound.

WPP, the world’s largest advertising group, has warned that its sales growth this year will be lower than expected following a difficult second quarter in which companies cut ad spending and forced down fees.

Britain will soften its stance on new legal rules for Brexit on Wednesday, as it proposes to only end the “direct jurisdiction” of the European Court of Justice after leaving the bloc while confirming that the UK will accept that EU judges could still play a role in settling disputes.

Traders can put the kettle on and enjoy the afternoon at home after Hong Kong’s stock exchange said Wednesday’s trading session has been cancelled owing to a Hurricane Signal No. 10.

Great Wall Motor fell as much as 2.6 per cent on Wednesday in Shanghai after the company said there had been no discussion with Fiat Chrysler Automobiles to acquire Jeep.

President Donald Trump on Tuesday evening said he may pardon a former sheriff convicted of criminal contempt in a racial profiling case and reiterated his opposition to the removal of Confederate monuments.

BHP Billiton has announced a board shake up that will see Grant King depart just six months after his appointment “owing to concerns expressed by some investors”.