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Updated: 4 years 29 weeks ago
World shares mixed amid hopes for business pickup; oil slides
Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were weighed against downbeat economic data and low fuel demand highlighted by a rise in U.S. crude stockpiles to three-year highs.
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U.S. drafts rule to allow Huawei and U.S. firms to work together on 5G standards: sources
The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China's Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said.
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Breakout time behind plexiglass: Renault factory restarts in France
With temperature scanners on the door and tables partitioned by plexiglass shields in the breakout area, workers at one of Renault's French plants are adjusting to new routines as carmakers try to cope with the coronavirus crisis.
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Fed lending program not for insolvent oil drillers, Kaplan says
Insolvent or overly leveraged firms, including oil drillers and oil services firms, won't be able to tap the U.S. central bank's "Main Street" emergency lending program, Dallas Federal Reserve President Robert Kaplan said on Wednesday.
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Gold price boosts Barrick profit as miner eyes copper deals
Barrick Gold Corp reported a nearly 55% rise in quarterly profit on Wednesday as gold prices surged, bolstering its ability to snap up mines including in copper, its chief executive said.
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Factbox: What to know about Facebook's content oversight board
Facebook Inc on Wednesday announced the first 20 members of its independent oversight board that can overrule the company’s own content moderation decisions. Here are some key facts about how the board will work:
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S&P 500, Nasdaq up as tech stocks rise; lockdown easing hopes persist
The S&P 500 and Nasdaq rose on Wednesday on hopes of a pickup in business activity as states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month.
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WTO must decide if U.S. complied with Boeing aid ruling, Airbus says
The World Trade Organization must decide whether the United States has fully complied with WTO rulings on illegal government aid to Boeing Co , and that process could take some time, a spokesman for Airbus said on Wednesday.
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Abercrombie, Gap prepare to reopen stores as lockdowns ease
Abercrombie & Fitch Co and cash-strapped Gap Inc on Wednesday laid out plans to reopen stores in areas where lockdown curbs have eased, while also introducing social-distancing measures.
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GM sets May 18 North American restart as profit tops estimates
General Motors Co on Wednesday outlined plans for a May 18 restart of most of its North American plants shut down by the coronavirus pandemic as it reported a stronger than expected quarterly profit, sending its shares up 5.3%.
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Fed's lending programs aren't for insolvent oil drillers, Dallas Fed's Kaplan says
Insolvent or overly leveraged firms, including oil drillers and oil services firms, won't be able to tap the Federal Reserve's emergency lending program for "Main Street," Dallas Federal Reserve Bank President Robert Kaplan said Wednesday.
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World shares mixed amid hopes for business pickup, weak data; oil slides
World equity markets were mixed on Wednesday, with U.S. indexes seesawing amid hopes for a pickup in business activity and as oil prices slumped with demand low after a rise in U.S. crude stockpiles last week to three-year highs.
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KKR's first-quarter profit rises 11% on stronger asset sales
Private equity firm KKR & Co Inc reported an 11% jump in after-tax distributable earnings in the first quarter on Wednesday, driven by growth in asset sales and management fees ahead of the coronavirus-linked market turmoil.
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VW sees multi-speed coronavirus rebound led by China
Volkswagen sees demand rebounding in China, helped by new buyers switching from public transport and sales of premium vehicles, but warned business would not recover from the coronavirus crisis as quickly in other parts of the world.
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BMW cuts outlook, sees coronavirus pain lasting all year
BMW AG expects the coronavirus pandemic to hit demand and earnings throughout this year, prompting the German automaker to cut its profitability forecast for passenger cars following a drop in first-quarter deliveries.
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StanChart highlights climate goals amid criticism over carbon financing
Standard Chartered defended its environmental credentials after renewed criticism from climate campaigners for its funding of fossil fuel companies as the bank held its annual shareholder meeting on Wednesday.
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World shares subdued amid weak data; oil resumes gains
Global shares struggled on Wednesday as weak economic data, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets.
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CVS Health maintains 2020 profit forecast despite coronavirus hit
CVS Health Corp on Wednesday said it was sticking to its 2020 forecast and expected a strong second quarter, as reduced medical service use for its Aetna insurance business offset coronavirus-related expenses and the pandemic's impact on pharmacy sales and prescriptions.
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As central banks break the junk debt barrier, investors will follow
May 6 (Reuters)- Recent central bank bond-buying to calm market turmoil has breached the wall dividing top-grade debt from so-called junk-rated issues, raising the likelihood of the investment industry and even regulators eventually dismantling the barrier.
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Wall Street gains on optimism over easing lockdowns
Wall Street's main indexes rose on Wednesday on hopes of a pickup in business activity as states eased coronavirus-induced curbs, with investors also looking past a stunning 20 million plunge in U.S. private payrolls last month.
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