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Updated: 4 years 30 weeks ago
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.
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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.
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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.
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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.
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Trump administration working to ease drilling industry cash crunch
The Trump administration is seeking to ease a severe cash crunch in the drilling industry by raising loan limits available under a coronavirus stimulus package and by barring lenders from discriminating against drillers, according to Energy Secretary Dan Brouillette.
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Wall Street bounces on Boeing bump, Trump's restart plan
U.S. stocks jumped on Friday following President Donald Trump's new guidelines to reopen the economy and on a report of a drug to potentially treat COVID-19, while Boeing headed higher on plans to resume production.
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World Bank says no 'free ride' for commercial creditors on debt relief
Commercial creditors need to support debt relief for the poorest countries and cannot just "free ride" on a suspension in debt payments by official bilateral creditors, World Bank President David Malpass said on Friday.
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Italy's firms shake lockdown using shortcut in coronavirus law
Weeks into Italy's coronavirus lockdown, thousands of Italian entrepreneurs have been given a bureaucratic shortcut to market.
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U.S.'s Pompeo: Nations should rethink use of China's Huawei amid coronavirus
U.S. Secretary of State Mike Pompeo on Friday said China's role in the global coronavirus pandemic is likely to force countries to rethink their telecommunications infrastructure, including the adoption of China-based Huawei's 5G networks.
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AMC says it has enough cash to withstand theater shutdowns until July
AMC Entertainment Holdings Inc, the world's largest theater operator, said on Friday its current cash balance was enough to withstand a global suspension of operations until a partial reopening in July.
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Kansas City pulls 2020 forecast on pandemic concerns; Mexico shipments drive profit beat
U.S. railroad operator Kansas City Southern withdrew its full-year earnings forecast on Friday on coronavirus concerns, but topped Wall Street estimates for quarterly profit as higher Mexico shipments boosted sales its chemicals and petroleum business.
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