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Reuters Business
Mar 28, 2020

Ackman says Pershing Square no longer has hedges on stocks
William Ackman's Pershing Square Capital Management no longer has hedges on its stock portfolio, but still has some cash to invest if equities decline further as the United States battles the coronavirus outbreak, the billionaire investor said on Saturday.

Reuters Business
Mar 28, 2020

Exclusive: Amazon entices warehouse employees to grocery unit with higher pay
Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.

Reuters Business
Mar 28, 2020

As virus threatens, U.S. embraces big government, for now
It may, as House Majority Leader and Maryland Democrat Steny Hoyer said on Friday, be out of love that the United States agreed to shut down much of its economy to stop a viral epidemic and save lives.

Reuters Business
Mar 27, 2020

GM reaches settlement over lost vehicle value from defective ignition switches
General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.

Reuters Business
Mar 27, 2020

Airbnb suspends marketing to save $800 million, top executives take pay cut: source
Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take no salary for the next six months while top executives will take a 50% cut, according to a person familiar with the matter.

Reuters Business
Mar 27, 2020

Apple's factories are running, but suppliers wary about iPhone demand
As China reopens its economy after months of lockdown, Apple Inc's iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.

Reuters Business
Mar 27, 2020

Bipartisan majority of Americans reject Trump idea to reopen by Easter: Reuters/Ipsos poll
A bipartisan majority of Americans appear to reject an idea floated by President Donald Trump to reopen businesses by Easter, according to a Reuters/Ipsos poll, which also showed that nearly one in four have been laid off or furloughed during the coronavirus outbreak.

Reuters Business
Mar 27, 2020

U.S. airlines cheer government relief but warn it is no 'cure' for deep industry crisis
United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action.

Reuters Business
Mar 27, 2020

European airlines resist mounting coronavirus refund claims
European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers.

Reuters Business
Mar 27, 2020

Wall Street tumbles as U.S. virus cases pass 100,000
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.

Reuters Business
Mar 27, 2020

Almost one in four Americans lost job or furloughed because of coronavirus: Reuters/Ipsos poll
Nearly one in four U.S. adults said they have been laid off or furloughed during the coronavirus outbreak, yet a bipartisan majority of Americans wants businesses to remain closed to slow the spread of the deadly virus despite its impact on the economy, according to a Reuters/Ipsos poll.

Reuters Business
Mar 27, 2020

Fed sets fee structure for BlackRock's role in mortgage bond purchases
BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases of commercial mortgage-backed securities, one of the new programs the central bank is rolling out to backstop an economy under threat from the coronavirus outbreak, according to details of the arrangement released on Friday.

Reuters Business
Mar 27, 2020

Trump tells GM: Stop 'wasting time', build ventilators to address coronavirus
U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations.

Reuters Business
Mar 27, 2020

Wall Street tumbles as U.S. virus cases pass 85,000
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.

Reuters Business
Mar 27, 2020

U.S. airlines cheer government relief, warn weak demand may still force downsizing
United Airlines Holdings Inc and Delta Air Lines pledged to maintain staff until Sept. 30 thanks to a government relief package passed on Friday, but warned of continued challenges and depressed demand facing the industry.

Reuters Business
Mar 27, 2020

U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives
U.S. airlines expect to learn the terms of federal aid meant to protect workers' payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc said on Friday.

Reuters Business
Mar 27, 2020

Oil plunges posting fifth straight weekly loss despite stimulus efforts
Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.

Reuters Business
Mar 27, 2020

U.S. consumer sentiment near three-and-a-half year low, spending sluggish
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession.

Reuters Business
Mar 27, 2020

ECB tells euro zone banks to skip payouts as virus hits economy
The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic.

Reuters Business
Mar 27, 2020

New York Fed sets fee structure and terms for agreement with BlackRock
The New York Federal Reserve released the fee structure and terms for its agreement to hire the asset management firm BlackRock to guide some of the central bank's massive bond buying operations.

Reuters Business
Mar 27, 2020

Global oil refiners shut down as coronavirus destroys demand
The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.

Reuters Business
Mar 27, 2020

Saudi Arabia says no talks on new oil deal, Moscow suggests larger OPEC
Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.

Reuters Business
Mar 27, 2020

Stocks down on virus' economic toll; dollar falls further
Stocks across the globe fell on Friday after a historic three-day run-up, with indexes poised to close the month and quarter with starkly negative performances, while the dollar was on track for its biggest weekly decline in over a decade.

Reuters Business
Mar 27, 2020

More than 100 British companies halt dividend payments due to coronavirus pandemic
More than 100 British companies have postponed or ditched dividend payments in a bid to preserve cash for what could be a lengthy enforced shutdown of large parts of the UK and global economy due to the coronavirus pandemic.

Reuters Business
Mar 27, 2020

Trump drags GM, Ford into political war over ventilators to fight coronavirus
General Motors Co and Ford Motor Co got dragged into the political war over much-needed ventilators for coronavirus patients Friday as U.S. President Donald Trump lashed out at the automakers for moving too slowly just hours before GM said it would build medical equipment at an Indiana plant.

Reuters Business
Mar 27, 2020

Factbox: Carmakers churn out machines, masks to help fight coronavirus
Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines - everything from cloth face masks to sophisticated ventilator systems - to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia.

Reuters Business
Mar 27, 2020

Treasury: U.S. will be 'compensated' for assistance to airlines
U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will "compensated" for providing up to $25 billion in direct grants to the airline industry.

Reuters Business
Mar 27, 2020

Delta CEO says gov't aid ensures no industry lay-offs through September 30
Delta Air Lines Chief Executive Ed Bastian said payroll assistance funds from the government under a massive stimulus package approved on Friday ensure there will not be any involuntary furloughs or pay cuts in the U.S. airline industry through Sept. 30.

Reuters Business
Mar 27, 2020

Google-parent Alphabet to donate $800 million in response to coronavirus crisis
Alphabet Inc will donate more than $800 million in funds towards producing medical supplies used to fight COVID-19, and in ad credits to government and health organizations and businesses, Chief Executive Officer Sundar Pichai said on Friday.

Reuters Business
Mar 27, 2020

Cash-strapped airlines resist mounting coronavirus refund claims
European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers.

Reuters Business
Mar 27, 2020

Toyota to make face masks in U.S. to aid coronavirus battle
Toyota Motor Corp's North American unit said on Friday it would produce face shields, ventilators and respirators, as the death toll from the coronavirus exceeds 1,200 in the United States.

Reuters Business
Mar 27, 2020

Bank of America capital levels allow operational focus during crisis: CEO
Bank of America Corp is better positioned to focus on operations rather than financial risk during the coronavirus outbreak, thanks to regulatory safeguards put in place after the financial crisis in 2008, Chief Executive Brian Moynihan said on Friday.

Reuters Business
Mar 27, 2020

Trump blasts GM, Ford over ventilators; could order action
U.S. President Donald Trump blasted General Motors Co and Ford Motor Co on Friday, calling on the two U.S. automakers to quickly build badly needed ventilators for COVID-19 patients and suggesting he might invoke the Defense Production Act to force the companies to move faster.

Reuters Business
Mar 27, 2020

Saudi Arabia says no talks on new oil deal as Moscow suggests larger OPEC
Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.

Reuters Business
Mar 27, 2020

Equinor to quit U.S. lobby group over climate policy
Equinor will leave industry the Independent Petroleum Association of America (IPAA) lobby group over a disagreement on climate policy, the energy producer said on Friday.

Reuters Business
Mar 27, 2020

Africa's web of creditors complicates coronavirus debt relief
Africa is crying out for debt relief to weather a perfect storm of coronavirus, plummeting oil and commodity prices, mounting budget deficits and weaker currencies.

Reuters Business
Mar 27, 2020

Oil plunges more than 5% despite stimulus efforts
Oil prices plunged more than 5% on Friday and were on track for a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.

Reuters Business
Mar 27, 2020

Forex volatility to make providers hike prices: Walmart de Mexico
Walmart de Mexico said on Friday that foreign exchange fluctuations will make its providers increase some of their prices, pointing to the depreciation of the peso and other currencies during the coronavirus crisis.

Reuters Business
Mar 27, 2020

U.S. regulators give banks relief on accounting standard, derivatives rule
U.S. banking regulators announced Friday that banks would have the option of ignoring the capital implications of a new global accounting standard for two years in a bid to ensure banks continue lending through the pandemic.

Reuters Business
Mar 27, 2020

Apple works with White House to release 'COVID-19' app, website
Apple Inc and the White House said on Friday that the iPhone maker worked with the Trump administration and federal agencies to release an app and website that will direct users to guidance from the Centers for Disease Control on the disease caused by the coronavirus.

Reuters Business
Mar 27, 2020

Stocks fall as virus uncertainty lingers; dollar set for weekly loss
Stocks across the globe fell on Friday after a historic three-day run-up, with indexes poised to close the month and quarter with starkly negative performances.

Reuters Business
Mar 27, 2020

Wall Street slumps after three-day rally as virus threat intensifies
Doubts about the fate of the U.S. economy in the face of the coronavirus hammered Wall Street again on Friday, halting its best three-day bounce in almost a century as the number of cases across the country skyrocketed.

Reuters Business
Mar 27, 2020

Virgin Atlantic set to ask for state aid: FT
UK-based airline Virgin Atlantic will ask the British government for a package of commercial loans and guarantees worth hundreds of millions of pounds, the Financial Times reported https://www.ft.com/content/c2d817d9-8a73-4bb8-89e7-e5ca67ed41d7 on Friday, citing people familiar with the matter.

Reuters Business
Mar 27, 2020

U.S. consumer sentiment near three-and-a-half-year low, spending tepid
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession.

Reuters Business
Mar 27, 2020

H&M starts protective face mask production at Chinese supplier
Sweden's H&M, the world's second-biggest fashion retailer, said on Friday it had started production of protective face masks for hospital staff and would ship the first batches to Spain and Italy.

Reuters Business
Mar 27, 2020

Car maker PSA wants to restart two French plants, unions disagree
French car maker PSA, which makes the Peugeot and Citroen brands, said on Friday it had presented health measures to its unions with a view to gradually restarting its European plants, which have been closed for fear of coronavirus infection.

Reuters Business
Mar 27, 2020

From quills to qwerty: Lloyd's underwriters adapt to home working
Thousands of London's underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won't need them.

Reuters Business
Mar 27, 2020

Wall Street drops after three-day surge as virus threat intensifies
Wall Street fell more than 3% on Friday, following the S&P 500 and the Dow's best three-day run in nearly a century, as fears about the economic damage from the coronavirus pandemic returned to the forefront.

Reuters Business
Mar 27, 2020

Lockheed Martin speeds up payments to suppliers amid coronavirus slowdown
Defense contractor Lockheed Martin Corp said on Friday that it would advance more than $50 million to suppliers hurt by a sharp economic slowdown caused by efforts to stop the coronavirus.

Reuters Business
Mar 27, 2020

U.S. consumer spending, inflation moderate in February
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.

Reuters Business
Mar 27, 2020

Indian lockdown disrupts Amazon, Flipkart deliveries: sources
India's coronavirus lockdown is disrupting e-commerce companies including Amazon and Flipkart, despite government assurances it would not, four sources familiar with the matter told Reuters.

Reuters Business
Mar 27, 2020

Oil falls as demands fears outweigh stimulus efforts
Oil prices fell on Friday as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world and as the United States faced the prospect of becoming the next global epicenter of the pandemic.

Reuters Business
Mar 27, 2020

Fed working to bolster credit during 'self-mandated' recession: Kaplan
A raft of programs from the U.S. central bank and a $2 trillion rescue bill nearing approval in Congress are aimed at providing relief during a "self-mandated" recession "so that when the virus is defeated we can walk, we can run, and then we can sprint out of this," Dallas Federal Reserve bank President Robert Kaplan said on Friday.

Reuters Business
Mar 27, 2020

Fed's term repo operation receives no bids for first time
The Federal Reserve's term repurchase agreement (repo) operation on Friday morning received no bids out of a possible $500 billion for the first time since regular operations began last year.

Reuters Business
Mar 27, 2020

U.S. not bailing out airlines, Boeing not using federal money: Treasury Secretary
U.S. Treasury Secretary Steve Mnuchin said on Friday that the coronavirus economic stimulus bill before Congress is not an airline bailout and that taxpayers will be compensated for relief given to companies hobbled by the global pandemic.

Reuters Business
Mar 27, 2020

Lufthansa applies for short-time work for 31,000 employees
Lufthansa has applied for short-time work for around 31,000 crew and ground staff at its core brand until the end of August, a spokesman said on Friday, as Germany's flagship carrier has slashed flights due to the coronavirus outbreak.

Reuters Business
Mar 27, 2020

'This is a war and we want to survive,' says Polish retailer
Polish fashion retailers may not survive the coronavirus crisis if the government, banks and shopping mall owners do not help them bear the costs, a lobby group said on Friday, as Poland closed non-essential shops to stop the spread of the virus.

Reuters Business
Mar 27, 2020

Calls mount for new OPEC deal as oil prices and demand slide
Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.

Reuters Business
Mar 27, 2020

We need to act, ECB's Lagarde tells feuding EU on coronavirus rescue: sources
European Central Bank chief Christine Lagarde urged wrangling EU leaders to act more decisively to cushion the economic hit of the coronavirus pandemic, three sources familiar with the matter said on Friday, as the bloc feuds over how far to go.

Reuters Business
Mar 27, 2020

European stocks sink as investors take stock of spreading virus
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.

Reuters Business
Mar 27, 2020

Alitalia seeks to place 2,900 more staff in layoff scheme: document
Alitalia's administrator has asked Italy's government to raise to nearly 7,000 the number of its employees under a temporary lay-off scheme, with most of its aircraft standing idle during the coronavirus outbreak.

Reuters Business
Mar 27, 2020

Britain's Next shuts online operation to protect workers
Leading British fashion chain Next has bowed to pressure from workers worried about their health and shut its online business, cutting off its remaining source of revenue during the coronavirus outbreak.

Reuters Business
Mar 27, 2020

'Maximum bearish': funds in record rush to cash in past week
Investors rushed into cash and out of bonds at a record pace over the past week as the coronavirus pandemic caused mayhem in markets, BofA said on Friday, though it noted a key positioning signal at "maximum bearish" could signal a big rally ahead.

Reuters Business
Mar 27, 2020

Nestle says cuts deforestation in its cocoa supply chain
Nestle, the world's biggest food company, says it has made significant progress removing cocoa produced in protected forests in West Africa from its supply chain as pressure builds from consumers and governments for ethically sourced cocoa.

Reuters Business
Mar 27, 2020

Futures fall after three-day surge as virus fears grow
U.S. stock index futures fell over 2% on Friday, a day after the S&P 500 and the Dow posted their best three-day run since the early 1930s, as the United States faced the prospect of becoming the next global epicenter of the coronavirus pandemic.

Reuters Business
Mar 27, 2020

Condom shortage looms after coronavirus lockdown shuts world's top producer
A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production.

Reuters Business
Mar 27, 2020

Exclusive: India's Reliance seeks to sell Mideast crude cargoes in rare move
India's Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on Friday.

Reuters Business
Mar 27, 2020

Travelex shuts UK forex bureaus on virus fears, starts funding talks
Foreign exchange company Travelex said on Friday it was shutting its UK bureaus for about eight weeks or more due to the coronavirus pandemic and that it was in talks with its stakeholders for continued access to funds.

Reuters Business
Mar 27, 2020

Travel slump, sick staff force cash-worried U.S. airports to downsize
With fewer planes flying and more security and traffic control officers testing positive for the coronavirus, airports are closing terminals, concessions and checkpoints, even while trying to retain jobs with the hope of a post-crisis pickup.

Reuters Business
Mar 27, 2020

Goldman, Morgan Stanley receive approvals for majority stakes in China ventures
Goldman Sachs and Morgan Stanley said on Friday they had received the final regulatory approvals to take majority stakes in their China securities joint ventures, as Beijing continues to open its financial sector to foreigners.

Reuters Business
Mar 27, 2020

Rolls-Royce to cut UK aerospace site activity for a week over coronavirus
Rolls-Royce will significantly reduce all non-essential activity at its civil aerospace sites in Britain for one week starting from midnight on March 27, due to the coronavirus pandemic, the company said on Friday.

Reuters Business
Mar 27, 2020

ViacomCBS withdraws forecast as virus delays movie launches, sports events
ViacomCBS Inc on Friday withdrew its forecast for the year as the ongoing coronavirus pandemic and related lockdowns force the media conglomerate to delay movie releases.

Reuters Business
Mar 27, 2020

ProSieben shares rally after CEO Conze's departure
Shares in ProSiebenSat.1 Media rallied by 9% on Friday after the abrupt departure of Chief Executive Officer Max Conze ended a drama-filled tenure that unraveled after his deputy denounced a "soap opera" at the German broadcaster.

Reuters Business
Mar 27, 2020

Wall Street Week Ahead: Fund rebalancing could help buoy stock rebound
Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop.

Reuters Business
Mar 27, 2020

Brazil headed for 'whatever it takes' QE as coronavirus crash looms
Brazil's central bank could soon be forced to fire up the money printing presses if the coronavirus-fueled recession facing Latin America's largest economy is as devastating as some economists fear.

Reuters Business
Mar 27, 2020

Stock futures fall after strong three-day rally as virus threat continues
U.S. stock index futures fell on Friday, a day after the S&P 500 and Dow posted their best three-day run since the 1930s, as the United States faced the prospect of becoming the next global epicenter of the coronavirus pandemic.

Reuters Business
Mar 27, 2020

Oil mixed on stimulus hopes and demands fears
Oil prices were mixed on Friday as the market weighed the potential benefits of stimulus efforts by policymakers around the world against the demand destruction caused by fallout from the rapid spread of the coronavirus.

Reuters Business
Mar 27, 2020

India's Tata Motors to spin off car division as separate unit
Tata Motors Ltd said on Friday it would spin off its passenger vehicles arm as a separate unit within the company, at a time when the coronavirus has disrupted auto production.

Reuters Business
Mar 27, 2020

How multi-strategy funds are faring as coronavirus slashes returns
Just one of the world's biggest multi-strategy funds available to retail investors is in the black for the year after coronavirus panic saw markets fall across the board, data from Morningstar showed.

Reuters Business
Mar 27, 2020

Travelex shuts UK foreign exchange bureaus, starts talks on funding
Foreign exchange company Travelex on Friday said it has shut all its UK foreign exchange bureaus for around eight weeks due to the coronavirus outbreak and started discussions with its stakeholders for continued access to funds.

Reuters Business
Mar 27, 2020

Morgan Stanley gets approval for majority stake in China venture: sources
Morgan Stanley has received regulatory approval to take a majority stake in its China securities joint venture, three people with direct knowledge of the matter said, as Beijing continues to open its financial sector to foreigners.

Reuters Business
Mar 27, 2020

Volkswagen's Skoda extends Czech factory outages to April 14
Czech carmaker Skoda Auto, part of the Volkswagen Group , will extend a stoppage at its domestic plants to April 14 from an original return date of April 6, the company said on Friday.

Reuters Business
Mar 27, 2020

Britain's Tesco limits online shop to 80 items during coronavirus crisis
Britain's biggest supermarket group Tesco will limit the number of items customers can order in an online shop to 80 during the coronavirus emergency, it said on Friday.

Reuters Business
Mar 27, 2020

ViacomCBS withdraws forecast amid virus concerns
ViacomCBS Inc said on Friday it would withdraw its forecast for the year due to the impact from the ongoing coronavirus pandemic.

Reuters Business
Mar 27, 2020

Amazon, Flipkart operations in India being disrupted amid lockdown: sources
India's government had assured e-commerce companies that their operations would not be disrupted amid a nationwide lockdown to fight the coronavirus, but most are facing crippling disruptions after just three days, sources familiar with the matter said on Friday.

Reuters Business
Mar 27, 2020

Coronavirus delays Royal Mail 'Journey 2024' turnaround plan
Britain's Royal Mail on Friday became the latest company to say the coronavirus had delayed plans for a radical turnaround and also canceled its dividend and suspended financial forecasts for the next year.

Reuters Business
Mar 27, 2020

Volkswagen burning through $2.2 billion a week as coronavirus halts production: CEO
Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF.

Reuters Business
Mar 27, 2020

European banks should halt 2020 dividends due to epidemic: trade body
Banks should halt 2020 dividend payments to preserve capital and keep lending to businesses and households until the impact of the coronavirus epidemic is clearer, the European Banking Federation (EBF) said.

Reuters Business
Mar 27, 2020

Alitalia asks to put more workers under layoff scheme-document
Alitalia's administrator has asked the Italian government to increase the number of employees under temporary lay-off scheme to nearly 7,000, a document showed, to help mitigate the impact the coronavirus outbreak had on the airline and the wider sector.

Reuters Business
Mar 27, 2020

European shares fall as investors take stock of spreading virus
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.

Reuters Business
Mar 27, 2020

China's auto industry wastes no time coaxing drivers back to showrooms after lockdown
China's auto industry has gone from zero to sixty in its post-pandemic campaign drive, with manufacturers and dealers quick to woo back lockdown-weary consumers through campaigns as unusual as a makeup-promoting personality touting car leasing.

Reuters Business
Mar 27, 2020

U.S. companies, labs rush to produce blood test for coronavirus immunity
As the United States works overtime to screen thousands for the novel coronavirus, a new blood test offers the chance to find out who may have immunity - a potential game changer in the battle to contain infections and get the economy back on track.

Reuters Business
Mar 27, 2020

Factbox: Global oil, gas producers cut spending after crude price crash
Oil and gas companies are cutting spending plans in response to the coronavirus pandemic and a push by Saudi Arabia and Russia to ramp up output.

Reuters Business
Mar 27, 2020

Mini-bull, tired bear, or something in-between
Investors could be forgiven for doing a double-take: Wait, we're back in a bull market?

Reuters Business
Mar 27, 2020

Toyota seeks $9.2 billion credit line from Sumitomo Mitsui, MUFG Bank: Kyodo
Toyota Motor Corp has sought a credit line totaling 1 trillion yen ($9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as fund-raising costs rise on the back of the coronavirus pandemic, Kyodo News reported on Friday.

Reuters Business
Mar 27, 2020

Tesla to slash on-site staff at Nevada factory by 75% due to virus: county manager
U.S. electric carmaker Tesla Inc plans to slash on-site staff at its Nevada battery plant by around 75% due to the coronavirus pandemic, the local county manager said on Thursday.

Reuters Business
Mar 27, 2020

Oil gains as governments pledge support amid coronavirus chaos
Oil prices rose on Friday as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil.

Reuters Business
Mar 27, 2020

Olympics delay deals setback to Samsung's plans to win over Japan market
For Samsung Electronics Co Ltd , the 2020 Tokyo Olympics were going to be its springboard to attain a long-held goal - making significant inroads into Japan's lucrative smartphone market where Apple Inc dominates.

Reuters Business
Mar 27, 2020

U.S. airlines to dash for cash grants, not loans, even with potential government stake
U.S. airlines are preparing to tap the government for up to $25 billion in grants to cover payroll in a sharp travel downturn triggered by the coronavirus, even after the government warned it may take stakes in exchange for bailout funds, people familiar with the matter said.

Reuters Business
Mar 27, 2020

Singapore Airlines latest to get massive rescue amid coronavirus crisis
Singapore Airlines Ltd said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return.

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