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Updated: 4 years 29 weeks ago
U.S. holding slew of new drilling lease sales despite oil market slump
The Trump administration is moving ahead with oil and gas lease sales in four Western states beginning on Tuesday, bucking criticism from taxpayer advocates who say the auctions should be postponed because of a meltdown in energy prices.
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Chevron cuts 2020 spending, Permian production forecasts by 20%
Chevron Corp will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices.
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Unilever to protect workers from sudden pay drop for up to three months
Consumer goods giant Unilever Plc said on Tuesday it would shield its workforce for up to three months from sudden drop in pay, resulting from market disruptions or an inability to perform their roles during the coronavirus pandemic.
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Parking pain: Airlines, airports hunt for storage space as pandemic idles planes
As airlines idle thousands of aircraft for which there are no passengers, they are hitting an unprecedented problem: finding a place to park them.
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UK manufacturers' most pessimistic since financial crisis: CBI
British manufacturers are the most pessimistic about the outlook than they have been at any time since the global financial crisis more than a decade ago because of the spread of coronavirus, a survey showed on Tuesday.
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U.S. industries scramble for exemptions as state shutdown orders grow
As several more U.S. states moved to impose stay-at-home orders to limit the spread of the coronavirus, industries from steelmakers to auto dealerships were scrambling for exemptions that would allow them to remain open.
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Investors eye cracks in $4.4 trillion U.S. ETF market as virus sell-off rages
Wild swings in asset prices have thrown a spotlight on liquidity in corners of the $4.4 trillion market for U.S. exchange-traded funds, which have played a key role for investors in Wall Street's coronavirus-fueled selloff.
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Boundless Fed QE fuels 2% equity bounce, calms dollar
Global equities rebounded almost 2% on Tuesday, off near four-year lows, and the dollar slipped as investors pinned hopes on unprecedented stimulus steps by the U.S Federal Reserve and other policymakers to ease strains in financial markets.
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Bank of England says coronavirus tougher than banks' stress test
The shock from coronavirus to banks is set to be greater but less prolonged than lenders faced in last year's stress test and the financial system remains resilient, the Bank of England said on Tuesday.
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Oil jumps 5% to over $28 on Fed steps to support economy
Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.
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Coronavirus shockwave rocks airplane manufacturers, suppliers
The pandemic is taking its toll on aerospace manufacturing, with Boeing Co saying it would halt production of most widebody jets and Airbus SE restarting only partial output after a four-day shutdown as suppliers cut jobs.
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Ryanair will not operate flights in April or May
Ryanair on Tuesday said it does not expect to operate flights in April or May and has offered its aircraft to European governments for rescue or the essential movement of medicines and personal protective equipment.
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House Democrats would give airlines, contractors $40 billion bailout
Democratic U.S. lawmakers on Monday proposed giving struggling U.S. airlines and contractors $40 billion in cash grants that would not have to be paid back but require significant new environmental, labor and other conditions.
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Tesla CEO says bought ventilators in China for U.S
Tesla bought hospital ventilators in China and shipped them to the United States, CEO Elon Musk said on Tuesday.
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Reopening economy too early could backfire for humans and markets, investors say
U.S. President Donald Trump's desire to rapidly reopen the economy despite signs the coronavirus is still spreading may backfire, with higher deaths and citizens remaining fearful of going out, some investors said.
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Volkswagen to halt production in Russia due to supply shortage from Europe
Volkswagen will suspend its car production in Russia over a supply shortage caused by the coronavirus outbreak in Europe, Volkswagen Group Rus said on Tuesday.
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S&P futures hit upper trading limit after another brutal session
S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.
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Dollar falls for a second day on Fed stimulus
The dollar slipped for a second consecutive day on Tuesday after the U.S. Federal Reserve unveiled fresh measures to supply precious liquidity into funding markets, sending risky currencies such as the Australian dollar soaring.
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March forex daily turnover hits $2.3 trillion as virus fuels volatility: CLS
The meltdown in financial markets over the coronavirus has sparked a huge jump in foreign exchange trading volumes, with average daily turnover so far in March up 27% on February as volatility soared, CLS said on Tuesday.
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Wizz Air suspends all flights to and from Varna over coronavirus
Wizz Air has suspended all flights to and from Bulgarian city of Varna in an attempt to help curb the spread of the coronavirus, the low-cost carrier said in a statement on Tuesday.
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