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Global vaccine alliance GAVI said on Wednesday 12 countries in Africa would receive 18 million doses of malaria vaccine over the next two years, expanding access to the shots to nine new countries in the region.

Sergio Ermotti faces the daunting task of integrating two globally systemic banks. The returning UBS boss’s first big decision, though, has a more domestic focus. The Swiss bank is under pressure to offload Credit Suisse’s local business to ease a political backlash in its home market. By avoiding immediate layoffs, and arguing that the division might not be viable on its own, he might be able to get away with keeping it.

China's Commerce Minister told foreign pharmaceuticals firms they can expect "more development opportunities" during a roundtable on Wednesday, his ministry said, as drugmakers bemoan government procurement policies pricing them out of the market.

Oil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August.

European shares fell on Wednesday as fresh data pointing to China's faltering economic recovery as well as slowing services sector activity in the euro zone stoked concerns about a sharp hit to global growth.