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CSX pulls financial forecasts as profit and U.S. railroad volumes fall

Reuters Business News - Wed, 04/22/2020 - 17:37
U.S. railroad operator CSX Corp on Wednesday withdrew its financial forecasts and said it was evaluating future spending as business shutdowns triggered by the COVID-19 pandemic weigh on the U.S. economy.
Categories: Reuters

Boeing 737 program chief to oversee commercial programs

Reuters Business News - Wed, 04/22/2020 - 17:32
The head of Boeing's 737 program has been tapped to oversee the planemaker's commercial programs as the company works to win approval to return the 737 MAX to service, which has been grounded for 13 months.
Categories: Reuters

Boeing is sued for $336 million over canceled 737 MAX order

Reuters Business News - Wed, 04/22/2020 - 17:25
Boeing Co was sued for $336 million on Wednesday by a Kuwaiti leasing company that accused it of wrongly refusing to return advance payments on a now-canceled order for 40 of its troubled 737 MAX planes.
Categories: Reuters

TechnipFMC cuts executive pay and dividend as pandemic fallout bites

Reuters Business News - Wed, 04/22/2020 - 17:19
Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak.
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Global air traffic could drop by up to 1.2 billion passengers: ICAO

Reuters Business News - Wed, 04/22/2020 - 17:16
International air passenger traffic could drop by as many as 1.2 billion travelers, or two-thirds, by September 2020, as the coronavirus pandemic weighs on demand, the United Nations aviation agency said on Wednesday in a statement, citing projections.
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CSX profit falls as coal, automotive declines weigh on results

Reuters Business News - Wed, 04/22/2020 - 16:39
U.S. railroad operator CSX Corp on Wednesday withdrew its financial forecasts and said it was evaluating future spending as business shutdowns because of the COVID-19 pandemic weigh on the U.S. economy.
Categories: Reuters

EU says air travel will need social distancing, U.S. airlines taking their own steps

Reuters Business News - Wed, 04/22/2020 - 16:29
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus lockdowns end, including social distancing in airports and planes, while some U.S. airlines are taking their own protective measures.
Categories: Reuters

Jump in oil sends global equities higher; bonds dip

Reuters Business News - Wed, 04/22/2020 - 15:54
A jump in the price of oil and the promise of more government stimulus to ease the economic pain inflicted by the coronavirus pandemic helped global equity markets surge on Wednesday, prompting investors to edge out of perceived safe-haven assets like U.S. Treasuries.
Categories: Reuters

Xilinx forecasts current-quarter revenue below estimates

Reuters Business News - Wed, 04/22/2020 - 15:49
Xilinx Inc on Wednesday forecast first-quarter revenue below estimates and refrained from providing an annual outlook, citing the uncertainty caused by the coronavirus outbreak.
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Wall Street surges as Congress preps more stimulus and oil bounces back

Reuters Business News - Wed, 04/22/2020 - 15:47
Wall Street surged on Wednesday as oil prices recovered and Congress looked on course to approve nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
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Las Vegas Sands posts first-quarter loss on coronavirus woes

Reuters Business News - Wed, 04/22/2020 - 15:40
Las Vegas Sands Corp posted a loss for the first quarter compared to a year-ago profit, as the coronavirus pandemic slammed gaming revenue at the casino operator.
Categories: Reuters

Chevron barred from drilling, transporting oil in Venezuela: U.S official

Reuters Business News - Wed, 04/22/2020 - 15:29
Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are "mothballed" as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said on Wednesday.
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Facebook bets on India with $5.7 billion Reliance deal

Reuters Business News - Wed, 04/22/2020 - 15:21
Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries' digital arm, as it looks to roll out services for India's grocers and small businesses by capitalizing on WhatsApp's extensive reach in the country.
Categories: Reuters

Exclusive: Quibi downloads reach 2.7 million, TV feature to start in May

Reuters Business News - Wed, 04/22/2020 - 15:17
New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told Reuters on Wednesday.
Categories: Reuters

Saudi Arabia may re-route tankers if U.S. imposes crude import ban: sources

Reuters Business News - Wed, 04/22/2020 - 15:14
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
Categories: Reuters

Oklahoma will let struggling oil producers halt output without breaking contracts

Reuters Business News - Wed, 04/22/2020 - 15:11
Oklahoma's energy regulator on Wednesday ruled in favor of an oil company's request to consider unprofitable production an economic waste, marking the first victory among companies looking for state relief against low prices.
Categories: Reuters

U.S. auto sales show signs of life after gloomy coronavirus March: J.D. Power

Reuters Business News - Wed, 04/22/2020 - 15:10
Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.
Categories: Reuters

Wall Street rises as oil gains, Congress readies aid package

Reuters Business News - Wed, 04/22/2020 - 15:05
Wall Street surged on Wednesday as oil prices recovered some ground and Congress looked on course to approve nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
Categories: Reuters

Google Stadia gains users after giving free access for two months

Reuters Business News - Wed, 04/22/2020 - 14:59
Google's cloud-based game streaming service, Stadia, has witnessed a surge in users after the tech giant gifted two months of free access to its premium version for gamers sheltering at home to curb the spread of the coronavirus.
Categories: Reuters

U.S. securities regulator warns investors over Chinese company disclosures

Reuters Business News - Wed, 04/22/2020 - 14:55
The head of the U.S. securities regulator on Wednesday warned investors against putting money into Chinese companies as they rebalance their portfolios following market turmoil due to ongoing problems with those companies' disclosures.
Categories: Reuters
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