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Argentina has initiated a dispute against the United States at the World Trade Organization regarding tubular goods used in oil production, the trade watchdog said on Thursday.

Zinc prices fell to their lowest since July 2020 on Thursday as weak demand for the metal used to galvanise steel pushed the market into surplus and exchange inventories rose.

Malaysian palm oil futures jumped as much as 3% on Thursday, ending near a two-week high, helped by a weak ringgit and forecasts of a El Nino weather pattern hitting production next year.

An "abnormal" rise in imports of biodiesel classified as waste-based has hit rapeseed prices in Europe, vegetable oil industry group FEDIOL said, calling for an investigation into the authenticity of these biofuel imports.

A drop in tech stock valuations, economic pressures, and a risk-averse investment environment in Europe are some of the hurdles air taxi firms like Germany's Lilium NV and Volocopter are facing, according to CEOs from the industry.

Italy's Armani said on Thursday that sales jumped 18% in the first quarter thanks to a rebound in Asia and more modest growth in the United States, where a slowdown is expected in the coming months.

Russia said on Thursday it would shut Sweden's consulate in St Petersburg and its own mission in Sweden's second-biggest city Gothenburg, and expelled five Swedish diplomats in a tit-for-tat move after Stockholm expelled five Russians last month.

Lufthansa CEO Carsten Spohr is heading to Rome to discuss taking a planned stake in ITA-Airways, Italian Economy Minister Giancarlo Giorgetti was quoted as saying by Ansa news agency on Thursday.

Zinc inventories in London Metal Exchange (LME) registered warehouses jumped 40% to 61,025 tonnes, data published by the exchange showed on Thursday.

Europe's largest sugar producer Suedzucker on Thursday confirmed its forecast for a strong rise in profits in its new fiscal year on the basis of sustained high prices after a surge in earnings the previous year.

Brazil's Embraer voiced "full support" for Pratt & Whitney as it battles durability problems on its latest jet engines, but said a separate business tussle with engine makers had forced it to suspend plans for a new turboprop plane.

Europe's largest sugar producer Suedzucker on Thursday confirmed its forecast for a strong rise in profits in its new fiscal year after a surge in earnings in the previous year, with continued high sugar prices expected.

Egypt has strategic reserves of wheat sufficient for 5.9 months, its supply minister told a news conference on Thursday, adding that vegetable oil reserves are sufficient for 5 months.

A proposal by Thailand's election-winning Move Forward party to reclassify cannabis as a narcotic a year after it was made legal is sowing panic in an industry that is projected to be worth up to $1.2 billion over the next few years.

Chicago soybean futures slid on Thursday, while corn was largely unchanged, as a lack of demand for both commodities amid bumper global supplies weighed on prices.

Australian shares slumped for a fourth straight session on Thursday, with miners and financial stocks leading declines, while winemaker Treasury Wine Estates tanked after warning of squeezing demand and higher packaging costs.

Australia's Treasury Wine Estates warned on Thursday that inflation was squeezing demand for its commercial-grade wine and driving up packaging costs, sending its shares nearly 8% lower.

Cathay Pacific needs to address staff and resource shortages and raise pay to boost morale, its flight attendant union said, after three staff were fired for allegedly mocking passengers who could not speak English.

Chicago corn slid on Thursday, falling for the first time in four sessions, while soybeans also lost ground as a lack of demand for both products weighed on prices.