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Updated: 4 years 30 weeks ago
In hard-hit Florida, jobless workers struggle to get state aid
With cruise ships idled and airplanes almost empty, Florida travel adviser Nick Pena has been out of work for nearly a month, spending his days trying to secure jobless benefits from a state seemingly unable to provide them.
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Global airlines' estimated coronavirus losses rise to $314 billion: IATA
Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes.
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Fed officials see risks in reopening economy too soon, but acknowledge need to move
U.S. Federal Reserve officials have begun grappling with the complexities of how to simultaneously reopen the country's economy and protect against a resurgence of coronavirus infections, goals they have argued cannot be successfully separated.
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U.S. Treasury says major airlines agree in principle to payroll aid
The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion payroll support package meant to help airlines weather the economic impact of the coronavirus on travel demand.
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U.S. Treasury, airlines reach agreement in principle on payroll aid: sources
The U.S. Treasury Department and passenger airlines have reached an agreement in principle on a $25 billion payroll support package meant to help airlines weather the economic impact of the coronavirus on travel demand, sources with knowledge of the matter said on Tuesday.
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Stocks gain on China trade data, easing pandemic worries
Equity markets rallied globally on Tuesday as Chinese trade data defied expectations of a deep downturn as a result of the coronavirus pandemic, igniting hopes that world economies can soon recover and removing the safe-haven allure of the greenback.
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Oil slumps on worries that supply cuts are playing catch-up to falling demand
Oil prices dropped sharply on Tuesday, with U.S. prices sliding back toward $20 a barrel, as investors bet that fuel demand destruction caused by the coronavirus pandemic would be too much for producers embarking on record global output cuts to offset.
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Credit Suisse investors should reject pay report after spy affair: advisor
Credit Suisse shareholders should reject its compensation report and deny its leadership a discharge in an upcoming vote, a proxy advisor said, the latest fallout from a spying scandal that cost ex-boss Tidjane Thiam his job.
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Trump oil deal raises question for Mexico: At what cost?
Mexico's president has incurred a debt with his U.S. counterpart Donald Trump by accepting U.S. help to end a standoff over global oil cuts, triggering concern the American will in return make the country pay on issues like migration and security.
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Wells Fargo profit decimated as coronavirus-led loan defaults loom
Wells Fargo & Co eked out a first-quarter profit of one penny per share as the bank set aside nearly $4 billion to cover expected loan losses due to the coronavirus pandemic.
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Apple launches site to show how coronavirus lockdowns affect movement
Apple Inc said on Tuesday it would release data that could help inform public health authorities on whether people are driving less during lockdown orders to slow the spread of the new coronavirus.
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Wall Street jumps on optimism over lockdown easing but earnings a concern
U.S. stocks rose more than 2% on Tuesday as hopes that the Trump administration could move to ease coronavirus-induced lockdowns overshadowed worrying quarterly earnings reports from JPMorgan and Wells Fargo.
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Subaru extends U.S. assembly plant shutdown through May 8
Japanese automaker Subaru Corp said Tuesday it will extend a shutdown of its Indiana assembly plant through May 8 because of declining market demand and supply chain issues related to the coronavirus outbreak.
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Republicans warn coronavirus aid program running out of cash
Republicans in the U.S. Senate and the Trump administration on Tuesday warned that a key program to help small businesses survive the coronavirus pandemic was running out of money, pressuring Democrats to agree on an emergency infusion of aid.
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Strength of U.S. consumer staples stocks shows cracks as market recovers
A broad rebound in U.S. stocks is leaving behind shares of some supermarkets, household product makers and other staples companies that provided a haven in last month's coronavirus-fueled selloff.
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Delta absorbs Latam order for 10 Airbus A350 jets
Delta Air Lines has taken over an order worth roughly $3 billion at list prices for 10 Airbus A350 jets from Latam Airlines Group , the Chilean carrier said.
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Airlines mull empty seats and masks for coronavirus recovery
Wizz Air is making plans to fly jets only two-thirds full to allow more space between passengers, it said on Tuesday, as airlines voiced concerns that anti-coronavirus measures could blight their profitability long after travel restrictions end.
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Exclusive: Stay off Zoom, Google Hangouts, Standard Chartered chief tells staff
Standard Chartered Plc is the first major global bank to tell employees not to use Zoom Video Communications Inc during the coronavirus pandemic due to cybersecurity concerns, according to a memo seen by Reuters.
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Rolex joins Baselworld defections that cast doubt on watch fair's future
Rolex, Patek Philippe and Chanel will not exhibit at MCH Group's Baselworld watch and jewellery trade show in 2021, they said on Tuesday, another blow to the flagging event that has already seen high-profile exits including Swatch Group .
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Global economy in 2020 on track for sharpest downturn since 1930s: IMF
The global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s, the International Monetary Fund said on Tuesday.
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