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Updated: 4 years 30 weeks ago
GE cuts some debt using proceeds from sale of biopharma business
General Electric Co said on Monday it used part of the $20 billion in proceeds from the sale of its biopharma business to cut debt.
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Ford expects loss of $600 million for first quarter
Ford Motor Co said on Monday it expects first-quarter adjusted loss before interest and taxes to be about $600 million, compared with a profit of $2.4 billion a year earlier.
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Trump says OPEC+ looking to cut 20 million bpd, not 10 million
U.S. President Donald Trump said on Monday the OPEC+ group of oil producers is looking to cut output by 20 million barrels per day, double the 10 million barrels agreed to a day earlier.
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Wall Street dips as focus shifts to earnings
U.S. stock indexes fell at the open on Monday after a strong rally last week, with investors bracing for an expected slide in quarterly earnings and signs of the long-term damage of the coronavirus outbreak on Corporate America.
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Dish cuts jobs, re-evaluates business in coronavirus fallout
Dish Network Corp has cut staff and is re-evaluating its business to cope better with the fallout from the coronavirus pandemic, the U.S. satellite TV provider told Reuters, without disclosing the number of employees laid off.
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Oil prices shrug off output cut as demand worries weigh
Oil prices fluctuated on Monday as the positive impact of major producers agreeing record global output cuts was offset by concerns they will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.
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Wall Street set to dip as focus turns to earnings
Wall Street was set to open lower on Monday after a strong rally last week, with investors bracing for an expected slide in quarterly earnings and signs of the lingering impact of the coronavirus outbreak on Corporate America.
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Performance Food signs deals with retailers to keep shelves stocked
U.S. food distributor Performance Food Group Co said on Monday it had signed agreements with 13 new retail partners and would have over 1,000 of its employees helping out at grocery stores as retailers try to keep their shelves stocked during the coronavirus pandemic.
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Fading Vision Fund to tip SoftBank into first loss in 15 years
SoftBank expects its $100 billion Vision Fund to book a loss of 1.8 trillion yen due to the worsening performance of its tech bets, which will tip the group as a whole into its first loss for 15 years.
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GM plans to extend shutdown of Brazil auto production by 60 days
(This April 9 story corrects start date of production shutdown to March 23, with furloughs starting on March 30.)
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Norway will announce oil output decision soon: minister
Norway, Western Europe's largest oil producer, will announce its decision on whether to slash crude output soon, potentially adding its weight to a global push to shore up prices, the energy minister said on Monday.
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Russia fund says will continue to invest in Saudi Arabia: Al-Arabiya
Russia's sovereign wealth fund will continue to invest in Saudi Arabia's Vision 2030 development programme, the Saudi-owned Al-Arabiya channel on Monday cited the head of the fund as saying.
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Futures fall as focus turns to corporate earnings
U.S. stock index futures retreated on Monday after a strong rally last week, with investors bracing for the first-quarter earnings season to underline the coronavirus-induced damage to Corporate America.
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Volkswagen to aid U.S. dealers supporting coronavirus relief efforts
Volkswagen AG said on Monday it would give financial assistance to its U.S. dealers who wish to use their loaner fleet to pickup and deliver essential supplies in areas affected by the COVID-19 pandemic.
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Oil prices broadly shrug off output cut as demand worries weigh
Oil prices fluctuated on Monday as the positive impact of major producers agreeing record global output cuts was offset by concerns they will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.
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Trading gains for big U.S. banks may not last past first quarter
Big U.S. banks made a pretty penny in trading during the first quarter as the coronavirus pandemic caused wild market swings, analysts said, but those gains will likely be overshadowed by declines in other businesses and a bleak outlook for the rest of the year.
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SoftBank sees $16.5 billion full year Vision Fund loss
Softbank Group Corp said on Monday it expects its $100 billion Vision Fund to book a loss of 1.8 trillion yen ($16.5 billion) in the financial year ended March due to the deteriorating performance of its tech bets.
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Global footwear group's Vietnam operations suspended for two days
Pou Chen Corp , the world's largest manufacturer of branded athletic and casual footwear for the likes of Nike and Adidas , has been ordered to suspend production at its Pouyuen Vietnam business over COVID-19 concerns, Vietnamese state media reported on Monday.
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Norway will soon decide on potential output cut: oil minister
Norway, Western Europe's largest oil producer, will soon decide whether to slash its output and thus aid a global effort to shore up crude prices, the energy minister said on Monday.
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Brent crude benchmark drops as demand worries outweigh output cut
Benchmark Brent oil prices turned negative on Monday, erasing gains made after major producers agreed record global output cuts, pressured by concerns that the cuts will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.
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