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Updated: 4 years 29 weeks ago
Some U.S. wealth advisers tell clients to stay put as markets fall
The deepest U.S. stock market sell-off since the 2008 financial crisis is prompting some financial advisers to tell wealthy clients to hold steady or even increase their equity exposure if they have at least 10 years until retirement.
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U.S. junk bonds fall despite unprecedented Fed stimulus
Prices of the riskiest U.S. corporate bonds fell on Monday as investors bet that the Federal Reserve's pledge to backstop an unprecedented range of debt would not materially change the outlook for less financially stable companies, particularly those at risk of default.
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Twitter withdraws first-quarter revenue forecast on virus fears
Twitter Inc said on Monday it is withdrawing its revenue and operating income forecast for the first quarter, citing the growing impact of the coronavirus outbreak.
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Market panic lingers despite unprecedented Fed support
Global equities slid further and safe-haven assets rose on Monday after a massive array of new programs from the U.S. Federal Reserve underscored the "severe" disruptions the coronavirus pandemic poses to a fast-weakening world economy.
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Historic Fed boost fails to stop Wall Street's virus-driven sell-off
Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy.
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U.S. prosecutors charge PDVSA contractor with money laundering
U.S. prosecutors have charged a Venezuelan oilfield contractor with money laundering for bribing officials at state oil company Petroleos de Venezuela to win overpriced contracts, and then seeking to hide the proceeds in the United States.
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Airbus sees airlines seeking to defer or cancel orders
Airbus said in a stock market filing on Monday that customers could seek to cancel or postpone delivery of airliners and helicopters as the coronavirus crisis continues to escalate.
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Boeing suspending Washington state production due to coronavirus risks
Boeing Co said on Monday it would halt production at its Washington state twin-aisle jetliner factory as a temporary measure to help fight the coronavirus outbreak.
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Fed alone can’t stop coronavirus selloff, investors say, as stocks tumble again
The Federal Reserve's unprecedented stimulus measures did little to brighten Wall Street's immediate outlook on coronavirus-ravaged stocks, as concerns remained about the lack of a government stimulus package and the ability to contain the pandemic.
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U.S. businesses see big hit from coronavirus, Fed survey shows
U.S. businesses expect a "very large and very negative impact" from the coronavirus pandemic and efforts to slow its spread, according to a survey published on Monday by the Atlanta Federal Reserve Bank.
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U.S. banks hand out bonuses to staff as coronavirus crisis intensifies
Some U.S. banks on Monday offered employees one-time bonuses to help ease the financial burden of the coronavirus pandemic and as a reward for working through the crisis.
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IMF sees pandemic causing global recession in 2020, recovery in 2021
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.
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Coronavirus grounds more flights, takes toll on jobs
Widening travel curbs to contain the spread of the coronavirus prompted more flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
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GM eyes building ventilators at Indiana plant to fight coronavirus
General Motors Co said on Monday it is studying the feasibility of building ventilators under its partnership with Ventec Life Systems at the No. 1 U.S. automaker's Kokomo, Indiana, plant to help combat the coronavirus outbreak.
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Alitalia to relaunch with much smaller fleet: sources
The Italian government plans to take control of loss-making carrier Alitalia [CAITLA.UL] in a month or so, creating a new company that will start off with a much smaller fleet, union sources said on Monday.
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North American millers, bakers scramble to satisfy bread-buying binge
North American flour mills and bakeries are rushing to boost production as the spread of the new coronavirus leads to stockpiling of staples like bread and pasta.
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Citigroup to give some employees $1000 as coronavirus spreads
Citigroup Inc will provide more than 75,000 employees globally with a special compensation award to help ease the financial burden of the coronavirus pandemic, Chief Executive Michael Corbat told staff in a memo seen by Reuters.
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Boeing to halt Washington state production temporarily due to coronavirus risks
Boeing Co said on Monday it will halt production temporarily at its Washington state twin-aisle jetliner factory due to risks from coronavirus, confirming an earlier Reuters report.
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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 people and businesses that scientists say are needed to limit the spread of the coronavirus.
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Western supply chains buckle as coronavirus lockdowns spread
Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.
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