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Updated: 4 years 29 weeks ago
Delta Air Lines adding flights in June, July: CEO
Delta Air Lines Inc is likely to increase capacity this summer by adding more flights in June and July, its chief executive officer told Fox Business Network in an interview on Wednesday.
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Futures jump as investors hold out for recovery
U.S. stock index futures climbed on Wednesday as investors clung to hopes of a recovery from a looming coronavirus-fuelled recession amid signs of more central bank and government stimulus for ailing sectors.
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Mining companies rush to shield indigenous communities from coronavirus
Big mining companies that rely on indigenous workforces or operate near remote communities have acted fast to curb the spread of the coronavirus and avoid a public health crisis that could damage their reputations.
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Target profit sinks 64% as COVID-19 costs offset gains from sales surge
Target Corp reported a 64% plunge in quarterly profit on Wednesday, pummeled by costs to tackle the coronavirus outbreak, even as panic-buying during the crisis lifted the big-box retailer's online and store sales.
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Lowe's beats sales estimates as lockdowns spur home improvement spending
Lowe's Cos Inc beat quarterly estimates for same-store sales on Wednesday, as coronavirus lockdowns led people to spend more on tools and paint for home remodeling and repairs, sending shares of the home improvement chain up 8%.
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Deutsche Bank CEO says bank must be more profitable before consolidating
Deutsche Bank's CEO said the bank needed to become more profitable before taking a leading role in European banking consolidation and dismissed concerns it would need state aid as it handles the fallout of the coronavirus outbreak.
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Dutch government's 2019 purchase of Air France-KLM shares 'irregular': audit office
A 2019 move by the Dutch government to buy a 14% stake in Air France-KLM was not in accordance with the country's laws, the Netherlands' Court of Audit ruled on Wednesday.
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Coronavirus crushes Australia's dividends with banks leading the decline
Australia has made the deepest dividend cuts globally this year, with more than $6 billion deferred or cancelled as companies conserve cash to ride out the coronavirus, turning foreign investors wary of the country's normally high-yielding firms.
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Norwegian Air's lessors including China's BOC take main ownership
Lessors including China's BOC Aviation are now the biggest shareholders in Norwegian Air after the budget carrier completed a debt restructuring and secured a long-sought credit guarantee from Norway's government.
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Germany approves new powers to block foreign takeovers in healthcare
Germany gave itself new powers to veto hostile foreign takeover bids for healthcare companies on Wednesday, a measure designed to ensure a continuous supply of essential products during the coronavirus crisis.
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Stocks adrift as vaccine rally falters
European stocks slipped lower on Wednesday and gold gained as a sceptical press report undermined some hopes for a COVID-19 vaccine and concern about obstacles to a recovery from the pandemic returned.
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U.S. blacklists Chinese logistics firm over business with Iran airline
Washington on Tuesday imposed sanctions on a China-based company it accused of acting on behalf of U.S.-blacklisted Mahan Air, the Treasury Department said, and denounced the Iranian airline's flights to Venezuela.
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Norwegian Air gets $271 million state-backed loan after debt restructuring
Budget airline Norwegian Air has secured a long-sought credit guarantee from Norway's government after completing a debt restructuring, it said on Wednesday, allowing it to survive in a slimmed-down version.
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Britain's Rolls-Royce to cut 9,000 jobs amid air travel slump
Britain's Rolls-Royce said on Wednesday it would cut at least 9,000 jobs from its global staff of 52,000 and could shut factories to adapt to the much smaller aviation market that will emerge from the coronavirus pandemic.
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UK will look at helping Rolls Royce employees and the sector: minister
Britain will look at how it can help the employees of Rolls-Royce after the engine maker said it would cut at least 9,000 jobs from its global staff of 52,000 and what options the government has to support the sector, the justice minister said.
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Rolls Royce could shut some factories with job cuts programme: CEO
Rolls Royce could close some of its factories as part of a programme to cut 9,000 jobs in response to the crisis in the global aviation industry, its chief executive said on Wednesday.
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Oil steady as economic worries offset signs of firmer demand
Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains.
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Did hedge funds score on masks and sanitizer? Not so much
What would seem like a sure win for elite investors - early bets on companies racing to make face masks, hand sanitizer and other coronavirus-related protective products - turned out to be a relatively unpopular strategy and one with surprisingly mixed results.
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Britain's Rolls-Royce to lay-off 9,000 jobs
British engine-maker Rolls-Royce said that it would need to lay-off at least 9,000 of its 52,000 staff to make annual cost savings of 1.3 billion pounds ($1.59 billion) as it seeks to cope with the downturn in air travel caused by the pandemic.
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Stocks adrift as vaccine rally falters; gold and bonds rise
Asian stocks struggled to extend the week's rally on Wednesday, and gold and bonds firmed, as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about the global recovery from the pandemic returned.
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