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Updated: 4 years 29 weeks ago
Brent crude surges 10% on hopes of oil output deal
Crude futures surged for a second day on Friday, with benchmark Brent up 10% on hopes that a global deal to cut crude supply worldwide will emerge early next week.
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Exclusive: Amazon to delay marketing event Prime Day due to coronavirus
Amazon.com Inc is postponing its major summer shopping event Prime Day at least until August and expects potentially a $100 million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
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Wall Street falls as coronavirus ends record job growth
Wall Street's main indexes fell on Friday as the longest period of employment growth on record in the United States came to an abrupt end due to the coronavirus, confirming a recession is underway.
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Italy looks to safeguard biomedical valley leading fight against COVID-19
Italy plans to tighten health checks to ensure that work is not disrupted in a small northern town specialising in the production of medical supplies to tackle its coronavirus crisis.
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Amid confusion, U.S. small business bailout program off to rocky start
A flood of loan applications from coronavirus-hit businesses inundated lenders on Friday as the U.S. government launched its $349 billion bailout fund for small and midsize companies amid widespread confusion about just how the program works.
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3M to make more face masks, ramp up imports to U.S. after Trump order
3M Co said on Friday it would increase the production of respirators and import more masks into the United States, after President Donald Trump invoked a law to help ease a shortage of essential items needed to fight the coronavirus pandemic.
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FedEx hoards cash, slashes CEO pay amid coronavirus threat
FedEx Corp said on Friday it would pull $1.5 billion from a credit line and slash CEO pay as stay-at-home orders aimed at stemming the spread of the coronavirus in the United States and Europe hammer demand for its lucrative express services.
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U.S. small businesses flood Bank of America with loan applications
Bank of America Corp said on Friday it has already received about 35,000 applications for federally backed small-business loans within hours of starting to accept them.
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Canada signs agreement with Amazon Canada to distribute medical equipment
Canada has signed an agreement with Amazon Canada to ensure medical equipment is delivered where it is most needed in the country's fight against the cornonavirus outbreak, Prime Minister Justin Trudeau said on Friday.
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Dollar gains 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 pandemic.
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OPEC+ debates biggest-ever oil cut as virus destroys demand
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic.
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Brent crude jumps above $33 on hopes of oil output deal
Crude futures surged for a second day on Friday, with benchmark Brent up 11% on hopes that a global deal to cut crude supply worldwide will emerge early next week.
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Exclusive: Airline crisis forces Airbus to consider A320 output cuts
Airbus is studying a sharp cut in output of its top-selling A320 plane series amid an industry-wide slowdown triggered by the coronavirus crisis, sources familiar with the matter said.
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Helicopters? Bailouts? Central banks move to stem coronavirus crisis
Central banks are pulling out all the stops to try to shield their economies from the new coronavirus pandemic, raising questions about whether they risk crossing a line by bailing out governments that are massively raising their spending.
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Coronavirus-led global recession to be deeper than thought but hopefully short: Reuters poll
The global recession that economists polled by Reuters say is under way will be deeper than thought a few weeks ago due to the coronavirus pandemic, although most are clinging to hopes for a swift rebound.
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U.S. biofuels industry seeks bailout to weather 'collapsing demand': letter
The U.S. biofuel industry has asked the Trump administration for funds from the U.S. Department of Agriculture's Commodity Credit Corporation to help it survive a demand slump triggered by the coronavirus outbreak, according to a letter seen by Reuters.
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Grounded planes insured for more than $160 billion: report
Aeroplanes with a total insured value of more than $160 billion are grounded around the world, presenting risks for insurers, a report said on Friday.
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Lockheed Martin adds jobs, increases supplier payments to counter coronavirus impact
Defense contractor Lockheed Martin Corp said on Friday it hired about 1,000 employees in the last two weeks and increased payments to suppliers to counter the impact from the coronavirus pandemic.
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Heineken says it will suspend production, distribution in Mexico due to coronavirus
Dutch brewer Heineken said on Friday that it will suspend production and distribution from its seven plants in Mexico, in response to the government's decision to halt non-essential economic activity to contain the new coronavirus.
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Ford to keep Europe manufacturing ops offline at least until May 4
Ford Motor Co on Friday extended the temporary suspension of vehicle and engine production at most of its European manufacturing sites at least until May 4.
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