Washington and Beijing are talking again. The test now is whether they can settle into a new normal that avoids upending the global economy — or fall back into a cycle of acrimony and retaliation, the Wall Street Journal reported. Treasury Secretary Janet Yellen heads to China on Thursday through Sunday to meet with senior government officials, her department said. The trip comes as tensions over trade, technology and Taiwan prompt both countries to reconsider the deep commercial and investment ties that have defined the relationship for decades.

Cineworld Group is looking at Eduardo Acuna, who runs the Americas operations of Mexico's Cinepolis, as a potential candidate to take the helm at the embattled British cinema chain operator when it emerges from bankruptcy proceedings, Sky News reported. It is not clear whether Acuna was formally in the frame to take the job or how quickly Cineworld's new owners were seeking to make an appointment, the report said.

MSCI's global equities index lost ground on Wednesday after weaker-than-expected overseas data and as investors monitored a heating up of American-Chinese trade tensions while they awaited upcoming U.S. economic data and second-quarter earnings, Reuters reported. Investors shrugged off U.S. Federal Reserve meeting minutes released on Wednesday that showed a Fed united in its June meeting decision to hold interest rates steady to buy time to assess whether further hikes would be needed. Minutes also showed most members expecting more policy tightening eventually.

Bankrupt rocket company Virgin Orbit is shutting down after selling its facility leases and equipment to a trio of aerospace companies in an auction, the company confirmed on Tuesday, CNBC reported. “As Virgin Orbit embarks on this path, the management and employees would like to extend their heartfelt gratitude to all stakeholders,” the company said in a statement. Spun out of Virgin Galactic  in 2017 by founder Sir Richard Branson, Virgin Orbit reached rarefied air by flying multiple missions.