China will cut import tariffs on goods including machinery, paper, textiles and construction materials from Nov 1, in a move that would lower costs for consumers and companies as a trade war with the US deepens.

The Federal Reserve raised the benchmark interest rate on Wednesday for the third time this year but showed no indication it would be more aggressive in efforts to head off inflation.

Oil prices eased on Wednesday after US data showed a surprise build in domestic crude inventories, but an impending drop in Iranian exports kept Brent futures above US$80 a barrel and on track for a fifth straight quarterly gain.

Uber agreed Wednesday to pay a US$148 million penalty over a massive 2016 data breach which the company concealed for a year, in the latest effort by the global ridesharing giant to improve its image and move past its missteps from its early years.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research