CNBC World News

Stocks rose on Wednesday as tech shares led the way and as the Federal Reserve kept interest rates unchanged.

Kodak shares soared after President Donald Trump announced a deal to work with the photography pioneer to produce ingredients in generic drugs.

The Federal Open Market Committee released a statement following its two-day meeting that concluded Wednesday.

Iran's Revolutionary Guards have been conducting military drills in the Strait of Hormuz, a critical waterway through which 30% of the world's seaborne oil is shipped.

The decision fulfills Trump's announced desire to withdraw troops from Germany, at least in part due to its failure to spend enough on defense.

French electrical equipment group Schneider Electric SE on Wednesday forecast a drop in its 2020 revenue and core profit margin, due to uncertainty around the coronavirus outbreak and a possible second wave of lockdowns.

Markets are watching the Fed but may focus more on what Congress is doing with its trillion dollar plus stimulus package.

Quarantine policies in Europe will have a "rollercoaster effect", the chief executive officer of Wizz Air told CNBC.

Tencent shares have rallied around 43% year-to-date, compared to just over 12% for Facebook. That has added around 1.53 trillion Hong Kong dollars ($197.74 billion) to Tencent's value.

The European Union said it has signed a contract with Gilead for its COVID-19 medicine remdesivir.

Deutsche Bank on Wednesday reported a net loss attributable to shareholders of 77 million euros ($90.3 million) for the second quarter, beating analyst expectations.

The Tesla and SpaceX boss made his comments on DeepMind in an interview with The New York Times.

Barclays has increased its coronavirus-related provisions in the first half of the year.

China's President Xi Jinping has affirmed his country's commitment to working with others, as he pushed for the cementing of the role of the Asian Infrastructure Investment Bank in the global economic governance system.

Former Malaysian Prime Minister Najib Razak was sentenced to 12 years in jail and handed a fine of 210 million Malaysian ringgit ($49.3 million) after he was found guilty of all charges in his first trial linked to the financial scandal at 1MDB.

Sanofi raised its 2020 earnings forecast on Wednesday after its second-quarter results were boosted by cost cuts.

The coronavirus has infected more than 16.6 million people across the world as of Wednesday morning in Asia, killing at least 658,914 people.

Confirmed cases in Hong Kong soared in July, with a new daily high of 145 reported this week alone.

The cheaper iPhone SE and the popularity of the iPhone 11 series, along with deep discounts, helped Apple get a boost in China in the second quarter.

Spain's Santander on Wednesday reported a net loss of 11.1 billion euros ($13 billion) in the second quarter.