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Updated: 4 years 29 weeks ago
Futures tumble as coronavirus crisis intensifies
U.S. stock index futures sank on Wednesday following stark predictions of a rising U.S. death toll and economic damage from the coronavirus outbreak, a day after the S&P 500 ended its worst quarter since the 2008 financial crisis.
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Oil majors slash 2020 spending by 20% after prices slump
The world's biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia.
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Dollar rallies as investors brace for global downturn
The dollar rallied against riskier currencies on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions for decades as the world confronted the coronavirus pandemic.
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Chinese buyers snap up U.S. oil purchases at widest discounts ever
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.
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Markets fall as virus woes strike again
World markets fell on Wednesday as the coronavirus threat ensured an ugly start to the second quarter for equities and commodities.
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Oil falls to $25 as oversupply fears mount with U.S. inventory rise
Oil slid to $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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Glencore's chrome joint venture in South Africa with Merafe declares force majeure
Glencore's chrome joint venture in South Africa with Merafe Resources has declared force majeure on qualifying contracts after a nationwide lockdown forced operations to shut, a Merafe executive said.
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Asia's factory activity plunges as coronavirus shock deepens
Factory activity contracted sharply across most of Asia in March as the coronavirus pandemic paralyzed economic activity across the globe, with sharp falls in export power-houses Japan and South Korea overshadowing a modest improvement in China.
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Tariff pain turns to gain: U.S. computer, toy stockpiles help meet virus rush
As the coronavirus outbreak forced classes online, Boston Public Schools ordered 20,000 laptops and had them in hand in four days - an unusually fast turnaround made possible by a build-up of inventory prompted by the U.S.-China trade war.
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Mother of invention: the new gadgets dreamt up to fight coronavirus
Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. What could he make that would let him open a door without touching the handle?
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UK banks scrap dividends on coronavirus fears, pressure on bonuses
Britain's top banks have axed dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus.
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France's Carrefour teams up with Uber Eats for lockdown deliveries
French supermarket retailer Carrefour and Uber Eats announced a new delivery service on Wednesday, aimed at helping Parisians buy essential goods and food during the nationwide lockdown triggered by the coronavirus crisis.
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Oil skids as oversupply fears pile up with U.S. inventories growth
Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears.
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Exclusive: KKR shelves $2 billion sale of Singapore-based Goodpack due to market slump: sources
KKR & Co has shelved a plan to sell Singapore-based Goodpack, which provides shipping containers and logistics services, after the coronavirus outbreak hit valuations, sources with knowledge of the matter said on Wednesday.
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Stocks give up meager gains as virus anxiety prevails
Asian shares and Wall Street futures fell on Wednesday in the first trading session of the quarter as the coronavirus pandemic and the prospect of a global recession tore through investor confidence.
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Exclusive: KKR shelves sale of Singapore-based Goodpack amid market turmoil - sources
KKR & Co. has shelved a process to sell Singapore-based Goodpack, an intermediate bulk container maker, after the coronavirus outbreak impacted valuations for the proposed deal, multiple sources with knowledge of the matter said on Wednesday.
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Apple doubles China donations for COVID-19 recovery efforts
Apple more than doubled its donation to China's efforts to fight COVID-19 to over 50 million yuan ($7 million), CEO Tim Cook posted on Weibo on Wednesday, weeks after the iPhone maker said it had opened all its 42 stores in one of its largest markets.
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U.S. pension funds may pour $400 billion into stocks, lifting virus-hit markets: JP Morgan
U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic.
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Dollar firms as investors brace for global downturn
The dollar was a touch firmer on Wednesday, buoyed by its safe-haven status with the world staring at what is likely to be one of the worst economic contractions for decades as it locks down to fight the coronavirus pandemic.
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Oil prices fall as U.S. inventory build-up heightens oversupply concerns
Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears.
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