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Updated: 4 years 29 weeks ago
GE plans to cut aviation workforce by as much as 25% in 2020
General Electric Co said on Monday it was planning to cut its global workforce in the aviation unit by as much as 25% this year, including both voluntary and involuntary layoffs, due to business disruptions caused by the COVID-19 pandemic.
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Tyson Foods says coronavirus will continue to limit U.S. meat supply
Tyson Foods Inc expects to continue idling meat plants and slowing production because of the new coronavirus, the company said on Monday, signaling more disruptions to the U.S. food supply.
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Wall St returns to losses as Buffett dumps airlines, China tensions flare
U.S. stocks were set to fall on Monday as a U.S.-Chinese spat about the origins of the coronavirus outbreak worsened while billionaire Warren Buffett's admission he had dumped his airline shares crushed major U.S. carriers.
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U.S. airline shares tumble as Buffett stake riddance fuels investor worries
Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett's Berkshire Hathaway said it offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry.
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VW's Skoda operating profit drops 25% in first-quarter, expects biggest hit in first-quarter
Operating profit at Czech carmaker Skoda Auto, part of the Volkswagen Group , fell 25% in the first quarter to 307 million euros as the new coronavirus outbreak started to bite, the company said on Monday.
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Norwegian Air gets $1 billion rescue after financial cliffhanger
Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners.
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Disney, hit hard by coronavirus, to face Wall Street questions on impact on company
Walt Disney Co's acquisitions spree that included swallowing much of Rupert Murdoch's 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world's most powerful entertainment machine.
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Tyson faces safety costs, sales hit from coronavirus
Tyson Foods Inc said on Monday it would temporarily close plants as needed in the battle with the coronavirus outbreak and expects meat sales to fall in the second half of this year as shutdowns hammer restaurants and other food outlets.
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Telefonica shares rise on O2-Virgin Media merger talks
Shares in Spain's Telefonica SA rose on Monday to post the only strong gains on an otherwise almost entirely red Madrid index, after the company confirmed it was in talks with billionaire John Malone's Liberty Global Plc over a possible merger of their respective businesses in Britain.
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Factbox: Connecting Britons: Major telecom players in the UK
Telefonica is in talks with billionaire John Malone's Liberty Global to explore a merger of its British mobile operator O2 with Liberty's Virgin Media cable network company, the Spanish company said on Monday.
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Futures hit by U.S.-China tension; airlines tumble as Berkshire pulls away
U.S. stock index futures retreated on Monday after a fresh spat between Washington and Beijing over the origin of the novel coronavirus, while airlines slumped as Berkshire Hathaway dumped its holdings in the sector.
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Tyson Foods expects sales volume to fall in second half of 2020
Tyson Foods Inc said on Monday it expects meat sales volume to fall in the second half of this year, as restaurants are being forced to operate at a limited capacity due to the COVID-19 pandemic.
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Ferrari cuts FY guidance due to coronavirus, sees slight drop in core profit
Ferrari said on Monday it had cut its core profit estimates for the year to reflect the impact of the coronavirus crisis, expected to mainly affect second quarter results.
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Discounts may help cure U.S. auto market's coronavirus hangover
Texas auto dealer Hayden Elder says March was his worst month in 42 years selling cars thanks to the coronavirus, but April brought days that were "almost normal" and he expects bigger customer discounts to help him sell more Dodge Ram pickup trucks this month.
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Norwegian Air shareholders back $1 billion rescue plan
Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners.
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Global stocks fall as U.S.-China tensions threaten rebound
European stock markets and oil prices fell on Monday as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets.
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Fasten seatbelts: Norwegian Air's battle for survival
After growing rapidly to become Europe's third-largest low-cost airline and one of the few to apply the budget model to transatlantic flights, Norwegian Air is fighting for its survival after racking up debts and liabilities of close to $8 billion by the end of 2019.
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Futures slide on renewed U.S.-China tensions
U.S. stock index futures slid on Monday on growing tensions between Washington and Beijing over the origin of the novel coronavirus.
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Oil prices fall on U.S.-China tensions, weak factory data
Oil prices fell on Monday on worries that a global oil glut may persist even as coronavirus pandemic lockdowns start to ease, amid a fresh spat between the United States and China over the origin of the virus.
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Pandemic slams global factories, activity sinks to new lows
Factory activity was ravaged across the world in April, business surveys showed, and the outlook looked bleak as government lockdowns to contain the new coronavirus pandemic froze global production and slashed demand.
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