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Updated: 4 years 29 weeks ago
Neiman Marcus in bankruptcy talks with lenders: Bloomberg Law
Luxury retailer Neiman Marcus Group Inc is in talks with lenders to file for bankruptcy as it struggles to ease its $4.3 billion debt load, Bloomberg reported on Monday, citing people familiar with the matter.
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Trump says won't allow long-lasting damage to economy from virus
U.S. President Donald Trump said on Monday he will not allow the coronavirus to do long-lasting damage to the U.S. economy and that he would consider how to move forward after a 15-day shutdown ends next week.
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Asia stocks set to rally as Fed goes limitless
Asian stocks were set to rally on Tuesday as the U.S. Federal Reserve's sweeping pledge to spend whatever it took to stabilize the financial system eased debt market pressures, even if it could not offset the immediate economic hit of the coronavirus.
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As coronavirus fuels meat demand, processors raise pay for North American farmers, workers
North American meat processors said on Monday they would pay extra money to farmers and slaughterhouse workers as the companies scramble to meet surging demand from consumers unnerved by the spread of the new coronavirus.
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Mondelez raises hourly wage, hands out weekly bonus as virus worries fuel demand
Mondelez International Inc on Monday said it would increase hourly wage by $2 and pay a $125 weekly bonus for its sales representatives as it rushes to meet a surge in demand for its packaged food due to the coronavirus outbreak.
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Bombardier to suspend business jet production in Canada over coronavirus: source
Bombardier will suspend Canadian production of its corporate jets to comply with restrictions imposed by provincial governments aimed at curbing the spread of the coronavirus, a source familiar with the matter said on Monday.
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U.S. crude oil futures jump $1.00 as dollar index weakens
U.S. crude oil futures climbed more than $1 on Tuesday as the dollar index weakened and hopes grew of a detente in the price war between producers Saudi Arabia and Russia.
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Fed's money market move lifts Northern Trust fund above key threshold
Liquidity at a $2.2 billion prime money-market fund run by Northern Trust Corp fell below the key 30% U.S. regulatory threshold twice last week, but rebounded above that level after the U.S. Federal Reserve shored up the industry.
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U.S. Fed aims 'bazooka' to backstop coronavirus-hit economy
The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.
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Nordstrom joins Macy's in suspending dividend amid coronavirus
Nordstrom Inc said on Monday it would suspend its quarterly cash dividend and share repurchases as it looks to weather the impact from the coronavirus pandemic.
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Fed's big move could help U.S. Treasury liquidity, but effects may not last long
The Federal Reserve's unparalleled steps to directly backstop the U.S. economy and its willingness to purchase vast sums of U.S. government debt, mortgage-backed securities and even corporate bonds could help boost depleted liquidity in the $17-trillion Treasury market.
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Historic Fed boost fails to stop Wall Street's coronavirus-driven sell-off
Wall Street's slide deepened on Monday as an unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy proved insufficient to sooth investors' fears about the swiftly-spreading coronavirus.
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Twitter ad sales hit by coronavirus but active users soar
Twitter Inc pulled its first-quarter revenue outlook and forecast an operating loss on Monday as the coronavirus outbreak crimped ad sales, but said the pandemic boosted the number of active users on the microblogging platform.
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GM accelerates 'Project V' to build ventilators in Indiana
General Motors Co and medical equipment maker Ventec are speeding up efforts under a partnership code-named "Project V" to build ventilators at a GM plant in Kokomo, Indiana, to help combat the coronavirus outbreak.
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U.S. trade regulators approve tariff exemption for Apple Watches
U.S. trade regulators have approved Apple Inc's request to waive tariffs on China-made Apple Watches, the Office of the United States Trade Representative said in a letter dated Friday.
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What's in the nearly $2 trillion U.S. Senate coronavirus stimulus
The U.S. Senate on Monday was negotiating a nearly $2 trillion emergency bill that aims to stem some of the economic toll of the coronavirus pandemic.
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Uber appoints former Mattel CEO Robert Eckert to board
Uber Technologies Inc said on Monday it had appointed consumer industry veteran Robert Eckert to its board as an independent director.
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With latest moves, Fed becomes creditor in chief for U.S. business
In undertaking what will undoubtedly be its largest rescue effort ever, the Federal Reserve on Monday announced programs that represent a never-before-seen intervention by the central bank into the heart of the "real" American economy.
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Explainer: How the Fed's latest move will get money to Main Street
The U.S. Federal Reserve said on Monday it would backstop an unprecedented range of credit for households, small businesses and major employers in an attempt to stop the economy from sliding into depression as the coronavirus spreads.
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