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Updated: 4 years 29 weeks ago
Soaring unemployment increases odds U.S. banks will cut dividends
Questions are building about whether big U.S. banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans.
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U.S. airlines apply for U.S. payroll grants for crisis help
Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coronavirus, though some warned the funds are "not enough."
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Occidental names new CFO in latest management change
Oil and gas producer Occidental Petroleum Corp on Friday named company insider Robert Peterson as its new chief financial officer.
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Exclusive: Amazon to delay Prime Day event due to coronavirus, outlines cloud risks
Amazon.com Inc is postponing its major summer shopping event, Prime Day, until at least August and expects a potential $100 million hit from excess devices it might now sell at a discount, according to internal meeting notes seen by Reuters.
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Large U.S. banks to take small business loan applications next week: Mnuchin
U.S. Treasury Secretary Steven Mnuchin said on Friday he expects all large U.S. banks to be participating in a newly launched, $350 billion small business coronavirus rescue loan program by next week, with community banks issuing most of the loans so far.
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Warren Buffett's Berkshire Hathaway sells some stake in Delta Air Lines
Warren Buffett's Berkshire Hathaway Inc said on Friday it has sold some of its stake in Delta Air Lines Inc .
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Fiat Chrysler postpones shareholders' meeting and resolution on dividend to late June
Fiat Chrysler said on Friday it decided to postpone to late June its shareholders' meeting scheduled for April 16, as a consequence of the continuing coronavirus emergency.
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Walmart to limit number of customers at stores as virus crisis deepens
Walmart Inc said on Friday it would limit the number of customers in a store at a time, starting April 4, to encourage social distancing among its customers.
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Occidental appoints Robert Peterson as CFO
Oil and gas producer Occidental Petroleum Corp said on Friday it appointed Robert Peterson as the company's new chief financial officer.
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Big U.S. banks start accepting small business aid requests
Bank of America Corp and JPMorgan Chase & Co are now accepting applications for federally backed small-business loans, a sign that big U.S. banks have warmed up to the relief program after initially resisting participation.
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Kraft Heinz halts three plants but adds shifts for mac & cheese
Kraft Heinz Co has moved to halt production at three plants providing restaurant supplies but has added shifts at others to meet demand for packaged foods like macaroni and cheese amid the new coronavirus outbreak, its chief executive said on Friday.
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Morgan Stanley plans to hold annual meeting in person
Morgan Stanley plans to hold in person its annual shareholder meeting, scheduled for May 21, the Wall Street bank said on Friday, even as many companies have moved their meetings online amid the novel coronavirus outbreak.
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Trump hosts Big Oil execs at White House to discuss market slump
U.S. President Donald Trump met with oil company executives at the White House on Friday afternoon to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.
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Canada signs agreement with Amazon Canada to manage distribution of medical equipment
Canada has signed an agreement with Amazon Canada to manage the distribution of medical equipment like masks, gloves and ventilators purchased by the Canadian government to help in its fight against the cornonavirus outbreak, Prime Minister Justin Trudeau said on Friday.
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Dollar climbs on safe-haven bids; shrugs off horrible U.S. jobs number
The dollar firmed against major currencies for a third straight day on Friday, as investors took shelter in the U.S. currency amid worsening economic fallout from the coronavirus outbreak.
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Global stocks edge lower on economic toll from coronavirus, oil rallies
Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.
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Avolon cancels order for 75 Boeing MAX jets, 4 Airbus A330neo
Aircraft lessor Avolon on Friday announced the cancellation of an order for 75 Boeing 737 MAX planes that were due to be delivered by 2023, saying it was adjusting its order book to the disruption caused by the coronavirus pandemic.
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Fed Chair Powell spoke with Trump as virus took aim at U.S.
As the coronavirus bore down on the United States in February and President Donald Trump renewed his public call for interest rate cuts, he and Federal Reserve Chair Jerome Powell conducted two previously undisclosed phone calls, calendars released by the U.S. central bank on Friday show.
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Trump to host Big Oil execs at White House to discuss market slump
U.S. President Donald Trump will meet with oil company executives at the White House on Friday afternoon to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.
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Oil surges more than 13% on hopes of output deal
Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.
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