The US economy grew at its fastest pace in more than two years in the second quarter, much faster than initially estimated, official data showed Wednesday.

Crude oil slid and gasoline futures hit their highest since mid-2015 on Wednesday as flooding and damage from Tropical Storm Harvey shut over a fifth of US refineries, curbing demand for crude while raising the risk of fuel shortages.

Russia's central bank said Tuesday it was stepping in to save the country's eighth largest lender, Otkritie, amid fears over its stability following a sharp drop in customer deposits in recent months.

The British government announced Tuesday reforms that could see companies that award generous pay packages despite shareholder opposition shamed in a public register, although the package was less ambitious than the original proposals.

Saudi Arabia invited bids Tuesday from 25 shortlisted companies to build a 400 megawatt wind power project, as the world's top oil exporter pushes for renewable sources to diversify its energy mix.

Damage from Hurricane Harvey could put it among the top five most costly US storms ever, with failing dams and levees driving up loss forecasts, data modeling showed Tuesday.

The US Justice Department is investigating whether Uber broke American laws against bribing foreign officials to promote business interests, the company confirmed Tuesday.

Moody's Investors Service kept its forecast for G20 economic growth at just over 3 percent for this year and next, but warned of geopolitical risks, US protectionism and spillovers from global monetary tightening and China's deleveraging measures.

The Philippines lifted its one-month suspension on Uber Technologies ahead of schedule on Tuesday after the ride-hailing firm paid almost $10 million in a fine and financial aid to its drivers affected by the halted operations.

Brazil's President Michel Temer heads to China with ministers and business leaders Tuesday to woo investors as he seeks to privatise a host of state utilities.

German Chancellor Angela Merkel endorsed the idea of a European Monetary Fund on Tuesday and said she could imagine creating a combined European finance and economy minister, signalling a willingness to deepen euro zone integration.

Crude prices dipped on Tuesday as the market grappled with the shutdown of some 13 percent of refining capacity in the United States after a hurricane ripped through the heart of the country's oil industry.

British house price growth eased to a three-month low in August, adding to signs that the squeeze on household spending since last year's Brexit vote has led to a slowdown in the housing market, a survey showed on Tuesday.

Greece must press ahead with implementing its reforms-for-aid programme and become more competitive, German Finance Minister Wolfgang Schaeuble was quoted as saying, adding that debt relief for Athens was "currently" not on the agenda.

The 11 countries committed to the Trans-Pacific Partnership are considering amendments to the trade deal, three sources said on Tuesday, as officials meet in Sydney for talks to re-energize the stalled agreement.

The dollar hit a four-month low against the yen on Tuesday after North Korea fired a missile that passed over northern Japan, the latest act of provocation by Pyongyang that has ramped up global tensions.

General Electric Co wants its industrial software business to cut costs and lift profits next year under new chief executive John Flannery, and is considering expanded partnerships and the possible sale of some equity in the unit, according to people familiar with the business.

India's economic growth likely accelerated to 6.6 percent in the quarter just ended, but analysts polled by Reuters are sounding increasingly worried that confusion over a new goods and services tax will dampen activity in coming months.

MANY German businesses are beginning to shift investments away from Britain in anticipation of increased trade barriers after Brexit, the chief of the DIHK Chambers of Industry and Commerce said on Monday.

OIL markets were roiled on Monday after Tropical Storm Harvey wreaked havoc along the US Gulf Coast over the weekend, crippling Houston and its port, and knocking out several refineries as well as some crude production.