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Updated: 4 years 29 weeks ago
Volkswagen expects car market to recover in summer: FAZ
Volkswagen expects the German car market to recover in the summer after the automaker was forced to suspend output because of the coronavirus pandemic, an executive told a newspaper on Wednesday.
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Target withdraws forecasts, curbs spending to meet virus-related demand
Target Corp on Wednesday withdrew its financial outlook and said it would scale back on planned investments to focus on meeting surging demand as Americans stock up on essentials and stay home to slow the spread of the coronavirus outbreak.
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Coronavirus-stricken U.S. companies pop poison pills
More U.S. companies are rushing to adopt so-called poison pills, dusting off a nearly 40-year-old takeover defense tool to ward off hostile bidders and activist shareholders eager to exploit the coronavirus-induced market sell-off.
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Softbank-backed Ola seeks relief for drivers and taxi firms in India
Indian ride-hailing company Ola, backed by Softbank Group , wants loan waivers for drivers and a delay in tax payments to make up for coronavirus-related lost income, according to a source and document seen by Reuters.
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Coronavirus exposes U.S. Uber, Lyft drivers' lack of safety net
As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours.
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Do more to stop coronavirus price gouging, U.S. states tell Amazon, Walmart, Facebook
A group of 32 U.S. states have a message for the nation's leading online platforms: You are not doing enough to stop price gouging amid the coronavirus crisis.
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U.S. SEC extends conditional relief for public companies hit by coronavirus
The U.S. Securities and Exchange Commission (SEC) said on Wednesday it would extend its prior conditional regulatory relief from disclosure requirements for public companies affected by the coronavirus outbreak.
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Oil prices rise on stimulus package, fuel demand sinks
U.S. crude prices rose slightly on Wednesday, bolstered by progress on a massive pending U.S. economic stimulus package, but government data shows the coronavirus pandemic started to hurt U.S. fuel demand last week.
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Wall Street gains ahead of Senate vote on $2 trillion aid package
Wall Street rose in choppy trading on Wednesday, building on the previous session's gains, as the U.S. Senate neared a vote to clear a $2 trillion package to support businesses and households affected by the coronavirus pandemic.
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First UK-listed firms edge towards BoE loan scheme
A handful of large British companies had emerged on Wednesday as likely candidates for the government's emergency lending scheme aimed at helping them tide over the coronavirus shutdowns afflicting many of the world's biggest economies.
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For ECB, coronabonds could be shield against legal challenges
European Central Bank President Christine Lagarde has a concrete reason for putting pressure on euro zone governments to finance the fight against coronavirus with joint debt -- avoiding trouble with the courts.
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Eni cuts 2020, 2021 capex to mitigate Coronavirus hit
Italian oil and gas group Eni said on Wednesday it would reduce its capital expenditure this year by around 2 billion euros ($2.17 billion) to mitigate the impact from falling commodity prices following the coronavirus emergency.
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Coronavirus slowdown starts to rival Fed's doomsday bank stress test scenario
The unfolding market shock and economic crisis wrought by the coronavirus disruption is shaping up to be a nightmare for the Federal Reserve – literally.
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Volkswagen expects to resume car production in summer: FAZ
Volkswagen expects to resume car production in Germany in the summer after the auto maker was forced to suspend output due to the coronavirus pandemic, an executive told a newspaper on Wednesday.
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U.S. core capital goods orders point to worsening business investment downturn
New orders for key U.S.-made capital goods fell sharply in February as demand for machinery and other products slumped, suggesting a deepening contraction in business investment that analysts said signaled the economy was already in recession.
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U.S. Senate bill grants aviation sector big bailout: Republican senator
A compromise $2 trillion economic rescue package set to be voted on by the U.S. Senate on Wednesday will include $25 billion for airlines in cash grants, a badly needed lifeline for an industry facing the worst travel downturn in history.
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UK PM Johnson says talks continue over support for airlines
Britain is continuing talks with the aviation industry about how best to support the sector, Prime Minister Boris Johnson and a pilots' union said on Wednesday, reviving the prospect of a sector-specific support package that had seemed to be on hold.
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Red tape holding up medical supplies, airlines say
Red tape is holding up medical and other emergency supplies needed to help tackle the coronavirus crisis, airlines warn.
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Exclusive: Venezuela in talks with China over support amid pandemic, oil price drop - sources
Venezuela has opened talks with China over possible financial support to cope with a sharp drop in oil prices and the arrival of the novel coronavirus, four sources familiar with the negotiations said.
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EssilorLuxottica says Essilor targeted by cyberattack
EssilorLuxottica said on Wednesday Essilor had been subject of a cyberattack on March 21 which disrupted access to some of its group servers and computers.
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