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Updated: 4 years 29 weeks ago
U.S. jobless claims top six million for second straight week
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
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Automakers push to reopen plants with testing and lots of masks
Global automakers reeling from the COVID-19 pandemic are accelerating efforts to restart factories from Wuhan to Maranello to Michigan, using safety protocols developed for China and U.S. ventilator production operations launched in recent weeks.
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Citigroup offers full-time positions to interns amid coronavirus crisis
Citigroup Inc said on Thursday it is offering full-time positions to its interns, but delaying the new class of summer intern program to July 6 amid the current coronavirus crisis.
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Wall Street rises on $2.3 trillion Fed backstop
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses, while energy stocks jumped on an expected cut in oil production.
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UBS executives pledge $5 million of own cash to coronavirus fight
Top managers at UBS will each contribute the equivalent of three months' salary to fight the coronavirus, its chief executive Sergio Ermotti said on Thursday after the Swiss bank bowed to pressure to suspend its dividend.
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Oil prices soar as OPEC+ prepares to cut supplies
Oil prices jumped on Thursday after sources said Russia and Saudi Arabia have a new deal to cut oil output drastically in response to a collapse in global demand from the coronavirus.
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Exclusive: Airbnb restricts bookings on its platform in Britain
Home rental firm Airbnb blocked British bookings on its platform for the vast majority of customers on Thursday, allowing only key workers to stay in properties for as long as emergency government coronavirus restrictions are in place.
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White House to announce economic coronavirus task force soon: senior administration official
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy going again when the time is right, a senior administration official said on Thursday.
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RenCap removes line from Rosneft note saying 10 million bpd cut would rebalance markets
Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC+ of 10 million barrels per day (bpd) would be sufficient to balance markets.
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Saudi, Russia debate record oil cut as U.S. resists action
OPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but talks are complicated by internal disagreements and the reluctance of the United States to join any action.
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OPEC+ to debate oil cuts as big as 20 million bpd: sources
OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters.
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White House to announce economic coronavirus task force soon, senior administration official says
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy back going again when the time is right, a senior administration official said on Thursday.
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Dollar drops after Fed launches new loan program
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
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U.S. Treasury's Mnuchin says airline aid 'next big thing' to be rolled out
U.S. Treasury Secretary Steven Mnuchin said on Thursday that aid for airlines will be the "next big thing" to be rolled out after the Federal Reserve announced new lending backstops for smaller and midsize companies and municipal bonds.
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Global stocks jump on Fed stimulus, hopes pandemic is slowing
Global equity benchmarks gained on Thursday following signs that governments and central banks are taking additional steps to bolster their economies as measures to slow the spread of the COVID-19 pandemic appear to be working.
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IMF chief says engaged with all members including Turkey
The International Monetary Fund remains engaged with all members, including Turkey, as they respond to the new coronavirus pandemic sweeping the globe, IMF Managing Director Kristalian Georgieva said on Thursday.
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IMF chief says pandemic will unleash worst recession since Great Depression
The pandemic sweeping the world will turn global economic growth "sharply negative" in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
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Oil prices rise on hopes OPEC+ will agree supply cuts
Oil prices rose on Thursday on expectations the world's leading crude producers will at a meeting later in the day overcome obstacles that have so far prevented a deal to cut output in response to a collapse in global demand.
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Morgan Stanley CEO James Gorman recovers from COVID-19
Morgan Stanley's Chief Executive Officer James Gorman said he has fully recovered from the illness caused by the novel coronavirus, according to a video that was sent to the bank's employees on Thursday.
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