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Updated: 4 years 29 weeks ago
Shell cuts 2020 spending by $5 billion, suspends share buyback
Royal Dutch Shell will lower spending by $5 billion and suspended its vast $25 billion share buyback plan in an effort to weather the recent collapse in oil prices, it said on Monday.
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Fed boost fails to stem Wall Street rout
Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an aggressive policy easing by the Federal Reserve and putting the S&P 500 on pace for its worst month since World War Two.
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Crude extends fall with U.S. gasoline down 20% as global shutdowns sap demand
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem the spread of the virus.
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Home work triggers demand jump for chips, laptops and network goods
With more employees working from home to help slow the spread of the coronavirus, demand is surging for laptops and network peripherals as well as components along the supply chain such as chips, as companies rush to build virtual offices.
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U.S. credit spreads narrow after unprecedented Fed stimulus
U.S. corporate credit spreads narrowed on Monday, indicating positive investor sentiment, following the Federal Reserve's announcement that it would backstop an unprecedented range of credit.
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SoftBank plans $41 billion of asset sales to expand buyback and cut debt
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.
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Fed aims 'bazooka' at coronavirus to backstop economy
The U.S. Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the "severe disruptions" to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small businesses and major employers.
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Airlines ground flights, count mounting costs of the coronavirus shock
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.
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Skies clear as further coronavirus curbs ground more flights
Widening travel curbs to contain the spread of the coronavirus led to further 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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GE's aviation unit to cut 10% of U.S. workforce: CEO
General Electric Co's aviation unit will cut its U.S. workforce by about 10%, Chief Executive Officer Larry Culp said in a letter to staff on Monday, as a shattered airline industry sought state support to survive the coronavirus crisis.
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Wall Street falls as Fed fails to assuage virus worries
Wall Street slipped on Monday as the still rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an unprecedented round of policy easing by the Federal Reserve.
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Airbus adds 15 billion euro credit line, scraps dividend
Airbus boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet.
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PG&E to plead guilty to 84 involuntary manslaughter counts over 2018 wildfire
Pacific Gas & Electric has agreed to plead guilty to 84 involuntary manslaughter counts in connection with the 2018 Camp Fire, the most destructive wildfire in California's history.
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Coronavirus fears spark surge in a volatility-focused ETN, but with a downside
A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market's wild swings subside.
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Fed support fails to pull stocks out of dive
Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns that could push the global economy deep into recession.
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Brent crude extends fall as coronavirus shutdowns sap demand
Brent crude prices extended falls on Monday with demand sliding as travel and industrial activity contracted across the globe in a bid to stem the spread of coronavirus.
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Instant View: Fed launches unprecedented range of credit support
The S&P 500 opened lower, reversing a brief bounce in U.S. stock futures after the U.S. Federal Reserve on Monday said it would backstop an unprecedented range of credit for households, small businesses and major employers to offset the "tremendous hardship," caused by coronavirus.
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Wall Street slides as Fed boost fails to assuage virus worries
U.S. stocks opened lower on Monday as a brief spurt of optimism from an aggressive credit boost by the Federal Reserve was overshadowed by the still rapidly spreading coronavirus pandemic.
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Central banks deploy record sums to break financial logjam, but may need more
Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up, as investors worried about the economic damage from the coronavirus and made a chaotic dash for the exits.
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U.S. Fed aims 'bazooka' at coronavirus to backstop economy
The U.S. Federal Reserve on Monday mounted an extraordinary new array of programs to offset the "severe disruptions" to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small businesses and major employers.
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