The U.S. Federal Reserve on Tuesday joined other central banks in a global group aimed at fighting climate change and addressing environmental risk to the financial system.

Spanish textile titan Inditex, owner of global fashion retailer Zara, posted Tuesday a higher than expected net profit in its third quarter as sales recovered from the disruption caused by the pandemic.

The group, which also owns the Bershka and Massimo Dutti brands, recorded a net profit of 866 million euros ($1.05 billion) in the three months from August to October, a 26 percent drop from the same time last year.

The International Energy Agency (IEA) trimmed its global oil demand forecasts Tuesday as the massive coronavirus pandemic hit to the aviation industry will likely be worse than expected next year.

The World Health Organization announced Monday it is teaming up with global youth groups, with some 250 million members, to create programs to help young people deal with the disruptions caused by the pandemic.

Draft EU rules to be unveiled Tuesday would see tech giants face huge fines or banned from the market for breaches, sources said, posing a major challenge to the likes of Google and Facebook. 

European and U.S. stock markets gained ground Monday, buoyed by Covid-19 vaccine optimism, expectations of fiscal support from Washington and hopes of a last-minute Brexit deal.

Sterling rallied Monday after Britain and the European Union agreed to extend talks on a post-Brexit trade deal past a self-imposed deadline, while Asian markets were mixed as surging coronavirus infections tempered vaccine optimism.

Prime Minister Boris Johnson and EU chief Ursula von der Leyen said after a crisis call that they would "go the extra mile" to find common ground in long-running talks.

UK businesses clamored for compromise on Sunday as Prime Minister Boris Johnson said failure remains the "most likely" outcome to marathon post-Brexit trade talks with the European Union.

The European Union and Britain ordered their negotiators back to work Sunday after agreeing to abandon a supposed make-or-break deadline for a post-Brexit trade pact.

Britain's Prime Minister Boris Johnson and EU chief Ursula von der Leyen will decide whether or not to abandon post-Brexit trade talks on Sunday after their latest cross-Channel crisis call.