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Updated: 4 years 30 weeks ago
GM begins mass production of ventilators for U.S. government
General Motors Co said on Tuesday it has started mass production of ventilators needed to treat severely sick coronavirus patients and would deliver the first batch of the medical equipment to the United States government this month.
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J&J sees medical devices business recovery at end of year after taking coronavirus hit
Johnson & Johnson on Tuesday said it expects its medical device business to begin recovering in the fourth quarter as elective medical procedures delayed by the coronavirus pandemic start to resume.
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Two big U.S. banks offer glum outlook for coronavirus recession
The main things investors wanted to learn from first-quarter results by JPMorgan Chase & Co and Wells Fargo & Co on Tuesday was just how bad the coronavirus recession is going to get and how long it will take to get back to normal.
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GM says it is ready to deliver first batch of critical care ventilators
General Motors Co said on Tuesday the first batch of ventilators needed to treat severely sick coronavirus patients were ready for delivery to the United States government.
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Texas hearing on oil production curbs stirs hornet's nest
Texas energy regulators on Tuesday started to hear from dozens of energy executives on an initiative calling for the state to mandate an output cut to stem the sharpest oil price drop in decades.
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JPMorgan profit dives as banks brace for coronavirus-led loan defaults
JPMorgan Chase & Co's profit plunged by more than two-thirds in the first quarter as the largest U.S. bank put aside nearly $7 billion in reserves to protect it from a wave of potential loan defaults in the months ahead.
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Explainer: Trump has little power to restart U.S. economy
President Donald Trump said on Monday it was his decision when to reopen the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
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Fiat Chrysler bolsters cash with $3.8 billion syndicated credit
Fiat Chrysler said on Tuesday it had successfully completed the syndication of a 3.5 billion euro ($3.8 billion)credit facility which it had agreed last month with two banks.
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Wall Street surges on hopes of lockdown easing; JPMorgan kicks off earnings
Wall Street jumped on Tuesday as hopes that President Donald Trump could move to ease coronavirus-induced lockdowns overshadowed dismal quarterly earnings reports from JPMorgan and Wells Fargo.
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Oil slides 6% as producer cuts fail to banish demand fears
Oil prices fell around 6% on Tuesday as investors doubted that record OPEC+ supply cuts would soon balance markets as demand plunges due to the coronavirus pandemic.
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Amazon ordered to limit French trade to essential goods
Amazon will have to limit its deliveries in France to essential goods like food and medical supplies while it carries out a more thorough assessment of the risk of coronavirus contagion at its warehouses, a French court ruled on Tuesday.
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Tesla surges 28% in two days as traders look beyond coronavirus disruption
Shares of Tesla Inc surged 12% on Tuesday after Credit Suisse upgraded its rating on the electric carmaker and as Wall Street rallied on optimism the coronavirus outbreak was reaching a plateau.
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Adidas gets 3 billion euro government backed loan, suspends dividend
German sports retailer Adidas on Tuesday said it received approval for a syndicated 3 billion-euro ($3.3 billion) government-backed loan to mitigate the financial impact on its business from the spread of the coronavirus.
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Spirit expects quarterly loss as coronavirus hits plane output
Spirit AeroSystems Holdings Inc said on Tuesday it would swing to a first-quarter loss and warned of a bigger blow in the current quarter, as customers Boeing Co and Airbus SE whittle down production due to the coronavirus pandemic.
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NMC Health board replaced by administrators
The administrators of troubled hospital operator NMC Health said on Tuesday they had replaced the company's board and asked its main lender, Abu Dhabi Commercial Bank (ADCB), to lead a steering group to discuss cutting its debt pile.
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Spain denies requisitioning coronavirus tests bound for workers
Spain's health minister denied on Tuesday that authorities had requisitioned 2,000 antibody tests which a workers union said Siemens Gamesa had expected to receive to check whether its staff have been infected with the coronavirus.
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Global creditors agree debt relief for poor countries hit by pandemic
Major international creditors will suspend debt payments this year for the world's poorest countries, who will be hit hardest by the rapidly spreading coronavirus pandemic that has sparked the steepest downturn in the global economy since the 1930s.
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Fauci: May 1 target for reopening U.S. economy 'overly optimistic' - AP
The top U.S. infectious disease expert, Anthony Fauci, said on Tuesday that a May 1 target date for reopening the economy was "a bit overly optimistic," citing a lack of critical testing and tracing procedures.
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U.S. funds that beat market plunge seek recession-proof stocks
Beating the first quarter's market crash took some extreme strategies, such as moving nearly everything to cash, or going very short. Now, fund managers who prevailed during the worst start to a year for U.S. stocks are betting on recession-resilient companies to take them to the next leg.
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Honda extends Mexico plant suspensions to April 30 due to coronavirus
The Mexican unit of Japanese automaker Honda Motor Co said on Tuesday it would extend a suspenion of operations at its plants in the states of Guanajuato and Jalisco until April 30 due to the impact of the novel coronavirus outbreak.
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