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Updated: 4 years 29 weeks ago
EU trade chief sees no quid pro quo in Huawei's 'mask diplomacy'
EU industry chief Thierry Breton on Wednesday said he did not see any ulterior motive behind Huawei's [HWT.UL] donations of face masks to the bloc and that solidarity was the best way to tackle the global coronavirus outbreak.
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WarnerMedia taps ex-Hulu chief Jason Kilar as CEO
AT&T Inc on Wednesday named Jason Kilar, former head of video streaming platform Hulu, as chief executive officer of its WarnerMedia unit starting in May, when it plans to launch its HBO Max service to compete with streaming heavyweights Netflix and Disney+.
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Pelosi urges U.S. Treasury not to delay $25 billion in grants to airlines
U.S. House Speaker Nancy Pelosi urged the U.S. Treasury on Wednesday not to hold up $25 billion in cash grants approved by Congress last week to airlines for payroll costs.
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Meal delivery firms branch out into groceries during crisis
Uber Eats and Delivery Hero are expanding from providing restaurant meals into supplying groceries to customers stuck at home during lockdowns triggered by the coronavirus crisis.
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Oil benchmarks mixed after U.S. gasoline, crude stocks jump
Brent crude fell while U.S. futures dipped before recovering on Wednesday, after U.S. crude inventories rose last week by the most since 2016, while gasoline demand fell sharply due to the coronavirus pandemic.
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U.S. manufacturing contracts; private payrolls post first drop since 2017
U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists' views that the economy was in recession.
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Fiat Chrysler, GM try discounts, online buying to juice dormant auto sales
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors Co moved to reboot demand moved to reboot demand with seven-year, no interest loans and programs allowing customers to buy vehicles online.
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U.S. restaurants seek $325 bln of federal aid due to coronavirus hit
((This March 18 story, corrects headline and first paragraph to say aid requested was $325, not $455 billion.))
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U.S. factory activity contracts in March; orders tumble to 11-year low: ISM
U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists' views that the economy was in recession.
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Kroger posts 30% jump in March comparable sales, borrows $1 billion
Kroger Co's comparable sales surged about 30% in March as consumers stockpiled due to the coronavirus pandemic, and the grocer said it had borrowed $1 billion to boost its cash reserve as it prepared for any fallout from the health crisis.
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Swiss distillery shifts from schnapps to sanitizer
A Swiss distillery has converted its production of pear schnapps to make disinfectant hand gel for use against the coronavirus.
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Fiat Chrysler hopes discounts, web can juice dormant auto sales
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler Automobiles NV on Wednesday reported a 10% drop in U.S. quarterly sales and moved to juice demand with bigger discount and a program allowing customers to buy vehicles entirely online.
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Wall Street sinks as coronavirus anxiety grows
The Dow Jones tumbled more than 700 points on Wednesday as investors fled to safe-haven assets after new orders for U.S.-made goods plunged to an 11-year low and private payrolls fell for the first time since 2017.
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U.S. construction spending unexpectedly falls in February
U.S. construction spending unexpectedly fell in February and could decline further as the coronavirus pandemic wreaks havoc on the economy.
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U.S. dollar gains as steep global economic slump looms
The dollar advanced on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
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Kroger comparable sales surge 30% in March, borrows $1 billion
Kroger Co's comparable sales surged about 30% in March as consumers cleared off shelves in preparation for a lockdown due to the coronavirus pandemic and had borrowed $1 billion to boost liquidity, the grocer said on Wednesday.
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U.S. private payrolls post first drop in two-and-a-half years
U.S. private payrolls dropped in March for the first time in 2-1/2 years, likely as businesses shut down in compliance with strict measures to contain the coronavirus epidemic, supporting economists' views that the longest employment boom in history probably ended last month.
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U.S. factory activity in March was weakest since 2009: IHS Markit
The U.S. manufacturing sector contracted in March, with activity hitting its lowest level since 2009, as the coronavirus pandemic caused widespread shortages, a survey confirmed on Wednesday.
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Oil falls towards $25 as oversupply fears mount with U.S. inventory rise
Oil fell towards $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns.
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Wall St. slumps at open as coronavirus fears intensify
U.S. stock indexes tumbled at the open on Wednesday, as investors fled to safe-haven assets following the first slide in U.S. private payrolls since 2017 and dire predictions on the U.S. death toll from the coronavirus.
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