Business

Oil struggled to find a floor and stocks tumbled on Wednesday as disappointing German GDP figures heightened worries over slowing global growth, while the pound eased off peaks as Prime Minister Theresa May faced the hard task of selling her Brexit deal.

Bain Capital Ventures, the venture capital division of the eponymous Boston-based investment firm, said it has raised a new $1 billion fund to invest in startups, adding to a year of big-dollar fund-raising by tech investors.

The U.S. Federal Aviation Administration and Boeing Co are evaluating the need for software or design changes to 737 MAX jets in the wake of last month's deadly Lion Air crash in Indonesia, the regulator said on Tuesday.

OPEC and its partners are discussing a proposal to cut oil output by up to 1.4 million barrels per day (bpd) for 2019, three sources familiar with the issue said, a larger reduction than previously thought to avert a price-sapping oversupply.

Oil rose on Wednesday, recouping some of the previous session's slide, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market.

South Korea's top financial regulator said Samsung BioLogics Co Ltd had intentionally breached accounting rules ahead of its 2016 listing, leading to a suspension in trading of the biotech firm's shares and a review of its listing status.