Further evidence has emerged that the economic recovery across Europe is gaining some traction, providing some headroom against the potential impact from a further escalation in the crisis in Ukraine.

Financial information company Markit says Tuesday that its purchasing managers index — a gauge of business activity — for the 18-country eurozone rose to a three-month high of 53.8 points in July, a full point higher than the previous month's figure.

U.S. companies are planning $14 billion worth of investments in Africa, a White House official said Tuesday as Washington seeks to strengthen commercial ties during the historic U.S.-Africa Leaders Summit.

With the United States seeking to counter the Chinese and European trade dominance in Africa, a White House official said the investments will span a range of industries, including construction, clean energy, banking and information technology.

Japan unveiled Tuesday details of financial sanctions against 40 individuals and two groups involved in the annexation of Crimea and destabilization of eastern Ukraine.

The decision freezes assets of those on the list, as Tokyo joins the West in pressing Moscow to exercise its influence over pro-Russian separatists in Ukraine to achieve a peaceful resolution in the crisis.

LinkedIn has agreed to pay nearly $6 million in back wages and damages to 359 current and former employees after a U.S. investigation found it had failed to pay them properly for overtime work.

Under a settlement announced by the Labor Department on Monday, the career-focused social network will pay more than $3.3 million in overtime back wages and $2.5 million in damages to be paid directly to workers in California, Illinois, Nebraska and New York.

Russia was striving to bring back nearly 16,000 tourists stranded abroad after the latest in a string of travel companies failed amid strains over the crisis in Ukraine, tourism officials said Monday.

With Western sanctions threatening to tip Russia's ailing economy into a recession and the value of the ruble taking a beating, the number of Russians traveling abroad has been cut by as much as half according to industry sources.

Bank giant HSBC said on Monday that profits fell in the first half because one-off gains were not repeated and after a weaker showing at its investment arm.

Net profit dropped to $9.746 billion (7.259 billion euros) in the six months to June 30 compared with earnings after tax totaling $10.284 billion in the first half of 2013, the British lender said in an earnings statement.

Indonesia's trade balance swung to a slim deficit in June as imports of food and clothes rose ahead of the Islamic holy month of Ramadan and Eid holiday, official data showed Monday.

The deficit in Southeast Asia's top economy came in at $305 million, compared to a slim surplus of $70 million the previous month, according to the data from the national statistics agency.

A property flagship led by Asia's richest tycoon Li Ka-shing is seeking to buy into Irish aircraft leasing group AWAS -- the Hong Kong businessman's first major foray into the aviation industry.

Cheung Kong Holdings said Monday in a filing to Hong Kong Stock Exchange, the company "has submitted a preliminary non-binding proposal in respect of the possible acquisition of certain aircrafts from the AWAS group". 

The euro slipped against the dollar in Asia on Monday following news of a bailout for a crisis-hit Portuguese bank, while the dollar held steady after falling on U.S. jobs data.

Portugal's central bank announced late Sunday that the nation will inject 4.4 billion euros ($5.9 billion) into the Banco Espirito Santo (BES) amid fears of a catastrophic bank run.

A report commissioned by London Mayor Boris Johnson has concluded that a British exit from the European Union would be better for the city than remaining in an unreformed EU.

Johnson is likely to give his backing to the report in a speech this week to launch the document, The Sunday Telegraph and The Sunday Times newspapers said.