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The Federal Reserve escalated its battle against the wave of prices increases battering the US economy on Wednesday by raising the benchmark interest even as it acknowledged the risk posed by the war in Ukraine.

Ukraine's leader on Wednesday made an emotive appeal to US lawmakers for greater Western intervention against Russia, which insisted its invasion was going "successfully" despite the West rallying to Kyiv's aid with arms and sanctions.

Eugene Parker, a pioneering American astrophysicist whose mathematical prediction that charged particles streamed from stars in a solar wind was met with disbelief before he was ultimately vindicated, has died aged 94, NASA said on Wednesday.

Global stocks rallied on Wednesday, buoyed by Ukraine peace hopes and China's pledge to help stabilise markets after recent routs.

Trading in nickel resumed Wednesday on the London Metal Exchange but was disrupted by an IT glitch, after a suspension linked to the Ukraine crisis.

Sri Lanka will seek an International Monetary Fund bailout, President Gotabaya Rajapaksa said on Wednesday, to battle record inflation and unprecedented food and fuel shortages as the country runs out of dollars to finance imports.

Walmart said Wednesday it plans to hire 50,000 workers in the United States by the end of April as it seeks to expand its retail operations amid a tight labor market.

Eugene Parker, a pioneering American astrophysicist who developed a mathematical model predicting the stream of charged particles from the Sun known as solar wind, has died aged 94, NASA said on Wednesday.

Russia is due to pay interest on its foreign debt Wednesday as sanctions over the Ukraine conflict have raised concerns that Moscow could face its first default in decades.

The Justice Ministry awarded President Jair Bolsonaro Brazil's "medal of indigenous merit" Wednesday, drawing criticism for granting the honor to a leader that indigenous groups accuse of "genocide" and "ecocide."

Starbucks announced Wednesday that longtime chief Howard Schultz will return to helm the global coffee shop chain on an interim basis while the company searches for a new leader amid a growing unionization drive.

Stuck to the door of one Warsaw high school is the sign "Laskavo prosimo do shkoli", or "Welcome to school" in Ukrainian, along with the flags of Poland and Ukraine.

Starbucks announced Wednesday that longtime chief Howard Schultz will return to lead the global coffee shop chain on an interim basis while the company searches for a new leader amid a growing unionization drive.

Rising costs for gasoline caused US retail sales to grow in February, according to government data released Wednesday, though the expansion was slightly below expectations.

The World Trade Organization chief hailed Wednesday a breakthrough between the EU, the United States, India and South Africa on waiving intellectual property rights on Covid-19 vaccines.

The head of Russia's tech giant Yandex, Tigran Khudaverdyan, has resigned after being placed on a list of European sanctions.

Trading in nickel resumed Wednesday on the London Metal Exchange after a lengthy pause linked to the Ukraine crisis but was quickly suspended again after a sharp fall.

British Prime Minister Boris Johnson was to lobby Saudi Arabia and the United Arab Emirates to pump more oil to calm turbulent markets as he meets the Gulf states' leadership on Wednesday.

The United States is set to unveil a fresh round of security assistance to Ukraine Wednesday, a White House official said, as Western leaders faced mounting pressure to stop Russia's bombardment of civilians and peace talks made halting progress.

If there's one guy who knows how to make an erotic thriller in Hollywood, it's Adrian Lyne.

Asian markets saw a much-needed bounce Wednesday as Hong Kong's tech giants led a rally in the city after their recent rout, while oil prices rose back above $100 but remain pressured by concerns over demand from China.

A landslide on Tuesday in the northern Peruvian town of Retamas has buried dozens of homes and trapped at least 15 people, according to authorities.

Haider Ali dabs a brush with an iridescent glob of paint and gets to work on a pair of sparkling white trainers -- his latest canvas for a carnival of colour celebrating Pakistani culture.

US central bankers on Wednesday are poised to take the first step to raise borrowing costs in a bid to cap rising inflation before it surges out of control.

Efren Rodriguez leaves the table annoyed as his fellow players, drunk and laughing, cry out "Zapato! Get out!"