(Reuters) -T-Mobile US Inc beat estimates for first-quarter earnings on Wednesday as its heavy investments in ramping up 5G cellular networks helped it add more phone subscribers than expected and raise its forecast, sending its shares up about 3%.

Alta Fox Capital Management LLC is seeking to oust Hasbro Inc's chairman and two other directors, as the activist investor pushes for changes at the toymaker including a spin-off of it Wizards of the Coast unit.

After months focusing on central banks' response to raging inflation, financial markets are being jolted into the realisation that a global economic downturn may now loom.

BRUSSELS (Reuters) -The European Commission proposed on Wednesday a one-year suspension of import duties on all Ukrainian goods not covered by an existing free trade deal to help the country's economy during the war with Russia.

The German government's reduced forecast for 2.2% growth this year does not assume a Russian energy embargo or blockade and the economy would tip into recession if either of those transpired, Economy Minister Robert Habeck said on Wednesday.

Russia may buy an as yet undetermined amount of rough diamonds from sanctions-hit producer Alrosa through its state precious metals and gems repository Gokhran, the country's Finance Minister Anton Siluanov said on Wednesday.