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Updated: 4 years 29 weeks ago
Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11
Volkswagen AG said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.
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Saudi, Russia agree record oil cut under U.S. pressure as demand crashes
OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
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Wall Street rises on latest Fed rescue program
Wall Street closed out the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed another program designed to buoy local governments and businesses crushed by massive closures to stem the coronavirus outbreak.
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Oil sinks as market doubts OPEC supply cuts will be enough
Oil prices tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.
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As fever checks become the norm in coronavirus era, demand for thermal cameras soars
The makers of specialized cameras to quickly scan for fevers as people enter crowded workplaces are grappling with soaring demand while confronting supply disruptions, forcing some to prioritize customers such as hospitals, executives told Reuters.
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U.S. Treasury chief to brief Trump on aviation aid review
U.S. Treasury Secretary Steve Mnuchin was due to brief President Donald Trump at the White House on Thursday about the government's review of requests for $32 billion in grants from passenger airlines, cargo carriers and airport contractors.
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Trump says administration likely to release details on airline aid this weekend
President Donald Trump said on Thursday his administration would be releasing details over the weekend about its program to help U.S. airlines hit hard by the coronavirus outbreak.
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Facebook must face renewed privacy lawsuit over user tracking
A federal appeals court on Thursday revived nationwide litigation accusing Facebook Inc of violating users' privacy rights by tracking their internet activity even after they logged out of the social media website.
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Mnuchin, Kudlow say U.S. economy could open in May, defying experts
The Trump administration's top economic officials said on Thursday they believe the U.S. economy could start to reopen for normal business in May, despite health experts' emphasis on prolonged social distancing measures to defeat the coronavirus.
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Trump administration official says U.S. welcomes reports of OPEC+ oil cut deal
The United States welcomed on Thursday reports that OPEC and its allies agreed in principal to reduce oil production by 10 million barrels per day (bpd), a senior Trump administration official said on Thursday.
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Instant View: OPEC+ cuts will not be enough to halt oil collapse - analysts
OPEC and other major oil producers on Thursday said they would cut output by 10 million barrels per day for two months in the face of a huge fall in demand due to the coronavirus crisis.
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Caterpillar seeks fresh $3 billion loan to boost liquidity: source
Caterpillar Inc is in talks with banks for a fresh $3 billion nine-month revolving credit facility, a person familiar with the matter said on Thursday.
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Investors caution cement, steel firms on EU climate lobbying
Cement and steel companies are being warned by investors over their lobbying on planned European Union carbon costs, saying they are effectively asking to be compensated twice over.
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Global stock markets jump on Fed stimulus, oil pulls back from earlier surge
Global equity benchmarks moved higher on Thursday following signs of some success by governments and central banks which have taken additional steps to bolster their economies during the COVID-19 pandemic, while oil prices pulled back from an earlier surge.
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BlackRock CEO Larry Fink's pay fell 8.4% in 2019: filing
BlackRock Inc , the world's largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 8.4% in 2019, a second straight year of decline, according to a filing on Thursday.
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Instant View: OPEC+ potential cuts won't be enough to halt oil collapse - analysts
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
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Morgan Stanley CEO diagnosed with coronavirus in March, since recovered: bank video
Morgan Stanley Chief Executive Officer James Gorman was diagnosed as being infected by the novel coronavirus after first experiencing symptoms nearly a month ago and has fully recovered, according to a video that was sent to the bank's employees on Thursday.
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As delivery workers emerge as frontline soldiers, India's government warms to e-commerce
Three days after India imposed a nationwide lockdown, Devender Singh revved up his motorcycle to deliver meat and eggs to customers - but his heart was in his mouth as he closed in on a police barricade on a deserted New Delhi road.
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Facebook sues Bangkok resident for selling fraudulent ad tools
Facebook Inc sued a Bangkok-based Indian man on Thursday for developing and marketing a software to bypass the social network's advertising review process and deliver prohibited ads to users.
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Wall Street ends trading week on a high note
Wall Street ended the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed its latest program designed to buoy local governments and businesses crushed by moves to stem the coronavirus outbreak.
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