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Brazil's loans to airlines would only be finalized in May: sources
Government loans for Brazilian airlines battered by the coronavirus crisis would only be ready in May, and not later this month as some had hoped, two sources familiar with the matter told Reuters on Friday.
Categories: Reuters
Ford warns of $2 billion quarterly loss as coronavirus outbreak hammers sales
Ford Motor Co on Friday estimated first-quarter loss of $2 billion and said it would tap debt markets to shore up its cash reserves as the coronavirus outbreak halted production and pummeled vehicles sales.
Categories: Reuters
SEAT aims to restart car factories in Spain on April 27
Carmaker SEAT plans to start up its plants in Spain on April 27, almost six weeks after it halted all output due to one of the world's worst national outbreaks of the coronavirus, the Volkswagen unit said on Friday.
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Goldman predicts 36% drop in iPhone shipment, says time to sell Apple shares
Goldman Sachs said on Friday it expects iPhone shipment to drop 36% during the current quarter due to coronavirus-related lockdowns around the world and downgraded Apple Inc stock to "sell".
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Exclusive: Chinese-backed owners commit to UK HQ for Imagination Tech - source
The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom, a source with knowledge of the matter said.
Categories: Reuters
U.S. leading indicator points to deep economic slump
A gauge of future U.S. economic activity suffered a record decline in March, suggesting the economy could struggle to pull out of a deep slump caused by the novel coronavirus outbreak.
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Boeing, Trump's restart plan boost Wall Street
Wall Street bounced on Friday as Boeing said it would resume production of commercial jets next week, with investors also cheering President Donald Trump's plan to reopen the economy and on hopes of a potential drug to treat COVID-19.
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Institutional investors tell Big Pharma to cooperate on coronavirus
Institutional investors in 15 major pharmaceutical companies have called on the drugmakers to set aside rivalries and short-term interests and cooperate on finding solutions to the coronavirus.
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Report says COVID-19 patients respond to Gilead's remdesivir, shares surge
Gilead Sciences Inc's shares surged 16% in after hours trading on Thursday following a media report detailing encouraging partial data from trials of the U.S. company's experimental drug remdesivir in severe COVID-19 patients.
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Airbus puts some French aero workers on part-time working
Airbus will implement a mandatory part-time working scheme for some 3,000 employees in France from April 20 to May 17, unions said on Friday.
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Exclusive: IKEA aims to start reopening stores in Europe in May
IKEA store owner Ingka Group, the world's biggest furniture retailer, aims to start reopening shops in Europe in May after closures and sliding demand due to the COVID-19 pandemic slashed group sales by 60%, its chief executive said.
Categories: Reuters
U.S. airlines sitting on $10 billion in travel vouchers, lawmakers say
U.S. airlines are estimated to be sitting on more than $10 billion in travel vouchers that should have been cash refunds from canceled flights, a group of senators released on Friday.
Categories: Reuters
Crude oil held in sea storage hits new record at 160 million bbls: sources
Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say.
Categories: Reuters
Nasdaq proposes easing listing rules during coronavirus crisis
Nasdaq Inc has applied with the U.S. Securities and Exchange Commission to offer temporary relief to companies listed on its exchange with stock prices and market values that have fallen below required minimums due to disruptions during the coronavirus crisis.
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Vienna Airport launches savings program, cancels 2019 dividend
Vienna Airport launched a savings programme equivalent to a quarter of annual revenue on Friday in response to the travel falloff caused by coronavirus and said state aid will ensure it remains liquid to the end of the year.
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French telecoms group Orange to cut dividend by 30%
Orange , France's biggest telecoms operator, said on Friday it would cut its dividend for the 2019 financial year by 30% and that it would review dividend policy for the 2020-2023 period in the wake of the coronavirus outbreak.
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BoE's Bailey tells banks to 'put their back into it' on COVID-19 loans
Bank of England Governor Andrew Bailey called on Britain's banks to speed up the pace of getting state-backed loans to companies that are struggling to survive the coronavirus crisis, saying they must "put their back into it and get on with it."
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AMC says enough cash till July as Trump readies plan to reopen America
AMC Entertainment Holdings Inc, the world's largest theater operator, said on Friday it had enough cash balance to withstand a global suspension of operations until a partial reopening in July, as the U.S. government plans to reopen the country's economy.
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Oil mixed as Chinese data offsets Trump plans to ease lockdown
Oil prices were mixed on Friday as China's worst quarterly economic contraction on record offset President Donald Trump's plans to revive the U.S. economy.
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Volkswagen China boss sees sales in China on recovery course
Volkswagen Group said sales of its cars dropped by 23% on the year to 2 million cars in the January to March period but was hopeful on Friday that the Chinese market would recover soon as it moves out of the coronavirus crisis.
Categories: Reuters