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Updated: 4 years 29 weeks ago
U.S. braces for record surge in jobless claims amid coronavirus fallout
The number of Americans filing claims for unemployment benefits likely raced to as high as a record 4 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs.
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China, U.S. to set aside differences in G20 coronavirus summit: SCMP
China and the United States are expected to call a timeout on their coronavirus blame game and focus on the challenges of the pandemic when leaders of the G20 nations hold talks via video conference on Thursday, the South China Morning Post said.
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U.S. coronavirus stimulus bill adds billions in support for farmers
The U.S. coronavirus stimulus bill would add $14 billion to the Agriculture Department's Commodity Credit Corp spending authority, and authorize another $9.5 billion for U.S. farmers hurt by the fast-spreading pandemic, according to a copy of the bill's text.
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Ten signs the oil industry is bent out of shape
The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals.
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Oil prices slip as demand shrinks, but stimulus supports
Oil prices slipped on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.
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'Apocalypse now': Airlines turn to cargo for revenue as U.S. Senate approves aid package
Delta Air Lines Inc and Air New Zealand Ltd said they would offer cargo charter services on passenger planes to boost revenue as the U.S. Senate unanimously passed a bill to give its carriers $58 billion in aid, including payroll support.
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U.S. Senate approves big rescue for struggling aviation sector
The U.S. Senate voted late Wednesday 96-0 to give the U.S. aviation industry $58 billion in a coronavirus-rescue package, half in the form of grants to cover some 750,000 employees' paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history.
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U.S. Senate passes $2 trillion coronavirus relief bill
The U.S. Senate on Wednesday overwhelmingly backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment.
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U.S. Senate votes to grants struggling aviation sector big bailout
The U.S. Senate voted late Wednesday 96-0 to give the U.S. aviation industry $58 billion in aid, half in the form of grants earmarked to cover some 750,000 employees' paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history.
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Stocks run out of steam on U.S. job jitters, yen gains
A two-day equities rally lost momentum on Thursday, and investors sold riskier currencies, as stimulus negotiations dragged on in Washington and investors fretted over a likely spike in U.S. jobless claims.
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Airbnb holds meeting with bankers to extend $1 billion debt facility: source
Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown due to the coronavirus, a source who participated in the meeting said.
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Airbnb says U.S. coronavirus stimulus bill could offer its hosts some relief
Airbnb Inc hosts in the United States could get some relief from a $2 trillion coronavirus stimulus bill that is nearing a vote in Congress, the home-rental startup said on Wednesday.
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McDonald's to trim U.S. menu during coronavirus pandemic
McDonald's Corp said on Wednesday it would temporarily remove some items from its U.S. menu as it focuses on simplifying operations in the face of the fast-spreading coronavirus outbreak.
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AMC Theatres furloughs CEO, corporate employees due to virus
AMC Entertainment Holdings Inc , the world's largest theater operator, has placed its chief executive and all of its corporate employees on furlough to preserve cash during the coronavirus outbreak, a company spokesman said on Wednesday.
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SoftBank Group's share rally ends after Moody's downgrade
SoftBank Group Corp's shares fell 8% in early trade on Thursday, ending a 55% rally in the stock, after Moody's downgraded the tech conglomerate's debt rating by two notches over plans to sell prime assets into a volatile market.
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Airlines turn to cargo for revenue as U.S. Senate nears industry aid vote
Delta Air Lines Inc and Air New Zealand Ltd said they would offer cargo charter services on passenger planes to boost revenue as the U.S. Senate neared a vote on a bill to give its carriers $58 billion in aid, including payroll support.
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Asian markets tread cautiously ahead of U.S. stimulus, jobs
Asian stock markets made a cautious start on Thursday following two days of rallies, as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus.
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Oil prices mixed as demand shrinks, but stimulus hopes support
Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.
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Home-bound users fume as video apps do not sync with TVs
Kat Volpe laid out an exercise mat and tried to sync her iPhone with her big screen TV for a fitness class webcast on Instagram last week during New York's coronavirus lockdown.
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U.S. auto sales in states with coronavirus lockdown orders to drop 80%: analysts
Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday.
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