SAO PAULO (Reuters) -Brazilian miner Vale, one of the world's largest producers of iron ore, reported on Wednesday its first-quarter net profit fell 19.6% to a stronger than expected $4.45 billion.

(Reuters) -CoverGirl owner Coty Inc said on Wednesday it would exit its Russia operations, becoming the latest U.S. company to pull out of the country following Moscow's invasion of Ukraine.

(Reuters) -PayPal Holdings Inc shares traded higher Wednesday even after the company lowered its full-year profit outlook, signaling that payments volumes at the company could take a hit from surging inflation and the conflict in Ukraine.

(Reuters) -Tesla Inc Chief Executive Officer Elon Musk did not breach his fiduciary duty to the electric vehicle maker in 2016 when it acquired SolarCity Corp, where Musk was chairman and the largest shareholder, a Delaware judge ruled on Wednesday.

Brazilian miner Vale, one of the world's largest producers of iron ore, reported on Wednesday first-quarter net profit of $4.48 billion, above the mean Refinitiv analyst forecast of $4.2 billion.

Tesla Inc Chief Executive Officer Elon Musk did not breach his fiduciary duty to the electric vehicle maker for pushing the company in 2016 to buy SolarCity Corp, where Musk was chairman and the largest shareholder, a Delaware judge ruled on Wednesday.