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Updated: 4 years 29 weeks ago
Boeing to offer voluntary layoffs to employees to tide over coronavirus fallout
Boeing Co Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees on Thursday, while warning that the coronavirus pandemic would have a lasting impact on the global aerospace industry.
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Wall St. gains as oil recovery eclipses record weekly jobless claims
Wall Street bounced on Thursday as a recovery in oil prices outweighed the shock of weekly jobless claims soaring past 6 million.
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Virus forces Luxottica to break Italian August holiday tradition
Eyewear maker Luxottica said it would cut to just one week its customary August closure, a move which other firms may seek to replicate to relaunch production after the forced shutdown in the current coronavirus crisis.
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Saudi Arabia and Russia signal readiness to cooperate on oil
Saudi Arabia and Russia signalled on Thursday they were ready to cooperate to help stabilise the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in demand.
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Russia does not rule out returning to oil talks with Saudi Arabia
Russian Energy Minister Alexander Novak said on Thursday that Moscow may return to oil negotiations with Saudi Arabia after talks collapsed last month, which, coupled with the spread of the new coronavirus, dragged oil prices to their 18-year lows.
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Planemakers brace for sharp cuts in wide-body output: sources
Planemakers are looking at drastic cuts in wide-body production amid a slump in demand for the industry's largest jetliners, manufacturing and supplier sources said on Thursday.
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U.S. factory orders unchanged in February
New orders for U.S.-made goods were unexpectedly flat in February, and could remain weak as a global coronavirus outbreak strains supply chains and undercuts the manufacturing sector.
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Ford says post-crisis support for U.S. customers 'would be appropriate'
Ford Motor Co's U.S. sales chief said on Thursday the automaker believes some level of government stimulus will be needed for consumers once the coronavirus pandemic recedes and that the crisis will spur a permanent shift toward more online vehicle sales in America.
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Dollar advances for second day, shrugs off record U.S. jobless claims
The dollar rose for a second straight day against a basket of currencies on Thursday as investors, worried about the prospect of a global recession continued to take shelter in the greenback.
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British Airways in union talks to suspend around 32,000 staff, scraps dividend
British Airways is in talks with its union about a plan to suspend around 32,000 staff, a person familiar with the situation said, marking one of the industry's most dramatic moves yet to survive the coronavirus pandemic.
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Southwest Airlines to apply for U.S. government aid as demand craters
Southwest Airlines Co said on Thursday it intends to apply for U.S. government aid to help it ride out the sharp drop in travel demand caused by the massive lockdowns because of the coronavirus pandemic.
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Honda extends U.S., Canada auto plant shutdown through April 10
Honda Motor Co said Thursday it will extend a shutdown of all U.S. and Canadian auto plant production through April 10 because of the ongoing coronavirus outbreak.
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Fiat Chrysler to start three Italian sites immediately after lockdown ends: union
Fiat Chrysler aims to restart operations at three Italian sites as soon as the government lifts coronavirus restrictions on manufacturing, a union representative said on Thursday, adding unions would monitor health precautions.
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Stocks drift as investors digest grim U.S. jobs data
World equity markets hovered between small gains and losses Thursday, as the death toll from the coronavirus pandemic continued to rise and economic pain deepened with another record week of jobless claims in the United States.
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Luckin Coffee shares sink after COO suspended for alleged financial misconduct
Shares of Luckin Coffee Inc sank 81% on Thursday after the Chinese coffee chain said it had suspended its chief operating officer and several other employees for financial misconduct, including fabricating certain transactions.
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Oil rises as Trump talks up Saudi-Russia truce, recession fears limit gains
Oil prices jumped 8% on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their battle for market share but gains were capped by fears of a global recession due to the coronavirus.
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JPMorgan CEO Jamie Dimon back at work after heart surgery
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon has returned to lead the largest U.S bank, after recovering from recent heart surgery, according to an internal memo to employees seen by Reuters.
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Wall Street falls at open as jobless claims top 6 million
U.S. stock indexes fell at the open on Thursday after U.S. jobless claims blew past a record 6 million as more states enforced stay-at-home measures to combat the coronavirus pandemic.
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U.S. weekly jobless claims blow past 6 million mark
The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
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Fund managers freeze UK institutional property funds
Investment managers BlackRock and Schroders have suspended trading in UK real estate funds aimed at institutional investors, citing difficulty in getting an accurate price for their assets.
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