Japan reported a wider-than-expected trade deficit in February as an energy-driven surge in import costs added to vulnerabilities for the world's third-largest economy.

Credit ratings agency Fitch said on Tuesday that if Russia were to make two U.S. dollar bond coupon payments due Wednesday in roubles, it would constitute a sovereign default after a grace period expiration.

Japan will revoke Russia's most-favoured nation trade status as part of further sanctions against Moscow following the invasion of Ukraine, two people with direct knowledge with the matter told Reuters on Wednesday.

A leading Generali shareholder on Tuesday proposed naming the Italian insurer's head of Austria as its new chief executive, in a challenge to the reappointment of Philippe Donnet.

South Korea's annual unemployment rate fell to the lowest on record in February, with jobs growth staying at a near 22-year-high, though the increase was mainly due to a low base and the government's fiscal spending.

The U.S. dollar index recovered after falling on Tuesday as volatile oil prices impacted the euro and markets grappled with the significance of talks between Russia and Ukraine and indications that COVID lockdowns will crimp economic growth in China.