Global maritime trade should recover next year after tanking by 4.1 percent in 2020 owing to the coronavirus, a UN agency forecast Thursday.

Italy's financial police have arrested the former boss of motorway operator Autostrade in an investigation linked to the deadly collapse of the Genoa bridge, media and officials said Wednesday.

Europe's major stock markets climbed higher Wednesday, extending stunning gains this week that were fueled by a promising coronavirus vaccine trial and Joe Biden's U.S. presidential election victory.

Asian markets rose again Wednesday as investors continued to ride the positive sentiment from news of a highly successful vaccine trial and Joe Biden's US election victory.

Chinese consumers snapped up everything from food to electronics and beauty products Wednesday as retailers slashed prices for the world's largest online shopping bonanza, closely watched this year for clues on post-pandemic consumer sentiment. 

Turkey's new Finance Minister Lutfi Elvan pledged Tuesday to pursue "market-friendly" policies and rein in inflation after taking over from President Recept Tayyip Edrogan's powerful son-in-law.

The EU parliament and member states struck a deal Tuesday to pass the bloc's trillion-euro 2021-2027 budget, MEPs and diplomats said, unblocking another 750 billion euros in coronavirus recovery funds.

Financial markets were calmer Tuesday but sizeable gains continued for some stocks and oil prices on hopes for a coronavirus vaccine.

"Yesterday's market surge was arguably a knee-jerk reaction to the potential game-changing (vaccine) news with more consideration paid to the potential rewards than the risks," noted Russ Mould, investment director at AJ Bell.

Asian markets rallied Tuesday on news that a vaccine candidate had been 90 percent effective in treating patients, fuelling hopes it could begin to be rolled out this year and bring an end to a pandemic that has battered the world economy.

Joe Biden will inherit a mangled U.S. economy — one that never fully healed from the coronavirus and could suffer again as new infections are climbing.

The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve says factory output dropped.