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British energy giant BP launched a major pivot back to its more profitable oil and gas business Wednesday, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment.

The EU on Wednesday unveiled a push to "simplify" its environmental rules to give businesses breathing room faced with competition from the United States and China -- while still vowing to decarbonise Europe's economy.

Asian and European stock markets rallied Wednesday, helped by renewed positivity over the tech sector, analysts said.

Liverpool manager Arne Slot will not be on the touchline for Wednesday's home match against Newcastle after he was handed a two-match ban and given a hefty fine for his behaviour in the Merseyside derby.

Pakistan's hurting players will be motivated by pride in their dead rubber against Bangladesh on Thursday, head coach Aaqib Javed said, after the hosts were dumped out of the Champions Trophy in the group stage.

Hamas will hand over the bodies of four Israeli hostages on Thursday in what it said would be an exchange for more than 600 Palestinian prisoners, capping the first phase of a Gaza ceasefire deal.

BP plans to increase production of its more profitable oil and gas business and slash investment in cleaner energy, the British energy giant announced Wednesday to the dismay of environmentalists.

German reinsurance giant Munich Re said Wednesday that last month's huge wildfires in Los Angeles had been the costliest "in the history of the insurance industry".

Australian spinner Matthew Kuhnemann was cleared on Wednesday by cricket's governing body after undergoing testing to determine whether his bowling action was legal.

British pop sensation and "brat summer" icon Charli XCX Wednesday won the Brit award for best songwriter of the year, putting her in pole position to scoop up the most honours in a weekend ceremony.

Chileans were able to return to a sense of normalcy on Wednesday after a curfew expired and authorities said power was restored to most homes following the country's worst blackout in well over a decade.

AB InBev, the world's leading brewer whose portfolio includes Budweiser, Corona and Stella Artois, said revenue hit a record level in 2024 although beer volumes slid.

A radio host in Australia who made "unacceptable" and "disgusting" comments about the national women's football team was taken off air on Wednesday, local media reported.

Hamas said it would exchange the bodies of four Israeli hostages for more than 600 Palestinian prisoners on Thursday, capping the first phase of a Gaza ceasefire deal.

Hong Kong's finance chief unveiled a "belt-tightening" budget on Wednesday that aimed to end the city's string of record-high deficits by 2028 while seeking growth in areas such as artificial intelligence.

Taiwan sent forces on Wednesday in response to China's "live-fire" drills off the self-ruled island, Taipei's defence ministry said, condemning the exercises as dangerous.

Aston Martin Lagonda announced Wednesday it would cut about five percent of its workforce as weak Chinese demand contributed to losses widening at the luxury car group last year.

The erosion of multilateralism threatens global growth and stability, President Cyril Ramaphosa warned Wednesday at a G20 finance meeting in South Africa marked by the absence of the US Treasury secretary.

The Stellantis car giant -- which includes Fiat, Chrysler, Jeep and Peugeot -- on Wednesday reported a 70 percent fall in 2024 profits against the previous year because of troubles in North America.

South Koreans rejoiced Wednesday at news that the number of births had risen for the first time in about a decade -- a rare bright spot for a country facing a deepening demographic decline.

Thousands of mourners, carrying flags and orange balloons, joined the funeral procession Wednesday for Shiri Bibas and her two sons, who were killed in Gaza captivity and had become symbols of Israel's hostage ordeal.

Freedom declined around the world last year with authoritarians solidifying their grip, but South Asia led a series of bright spots, Freedom House said Wednesday in its annual report.

Indonesia has struck a deal with Apple for the tech giant to invest in the country, local media reported a minister as saying Wednesday, in a move that could end a ban on iPhone 16 sales in Southeast Asia's biggest economy.

The United States said talks for a second phase of a Gaza ceasefire deal were on track, as Hamas said Israel agreed to release Palestinian prisoners in exchange for the bodies of four Israeli hostages.

Hong Kong stocks resumed their impressive start to the year on Wednesday as they rocketed more than three percent on the back of a surge in tech firms fuelled by fresh optimism over the sector in China.

The Cook Islands' prime minister survived a no-confidence vote on Wednesday, blaming "misinformation" from former colonial ruler New Zealand for destabilising his Pacific country.

Taiwan dispatched forces on Wednesday in response to China's "live-fire" drills off the self-ruled island, Taipei's defence ministry said, condemning the exercises as dangerous.

Hong Kong will cut public spending and restore fiscal balance by mid-2027 after a string of huge deficits, the city's finance chief said Wednesday as he unveiled growth plans including an artificial intelligence institute.

Lydia Ko said Wednesday she would rather grace the fairways on the golf course than strut down the catwalk after appearing on the cover of the latest edition of Vogue in South Korea.

Thousands of mourners, carrying flags and orange balloons, gathered Wednesday for the funeral procession of Shiri Bibas and her sons, who were killed in Gaza captivity and had become symbols of Israel's hostage ordeal.

Former cricketers and pundits have slammed India's "undeniable" advantage of playing all their Champions Trophy matches in Dubai, while the other seven teams have to shuttle between three venues in Pakistan, and the UAE.

In Albania's capital, Baba Mondi envisions a Vatican-like state for his Bektashi faith on a tiny scrap of land that would serve as a model for love and tolerance.