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Updated: 4 years 29 weeks ago
Factbox: Oil products markets in turmoil as coronavirus infects demand
The oil products markets globally are caught between a rock and a hard place as the impact of ultra cheap oil, which should be a boon for refiners, is mitigated by record low prices for gasoline and jet fuel.
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Starbucks halts dine-in service, focuses on 'to go' in U.S., Canada
Starbucks Corp closed its dine-in areas for at least two weeks at its U.S. and Canadian stores and shifted completely to "to go" service, as restaurants look to curb the rapid spread of the coronavirus outbreak.
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Uber Eats waives delivery fee for independent restaurants as virus spreads
Uber Technologies Inc's food delivery business, Uber Eats, said on Monday it would waive delivery fee for independent restaurants across the United States and Canada.
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U.S. airlines urgently need $50 billion in grants, loans - letter
A group representing major U.S. airlines said the industry needs $50 billion in grants and loans to survive the dramatic falloff in travel demand from the coronavirus outbreak.
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Powell's whatever-it-takes pledge puts limits of Fed's reach in spotlight
Federal Reserve Chair Jerome Powell's message in announcing a barrage of monetary policy and liquidity actions was clear: The U.S. central bank will use all the tools at its disposal to keep credit flowing through the U.S. and global financial system.
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LATAM Airlines to cancel 90% of its international flights
LATAM Airlines Group, the continent's largest carrier, said on Monday it is canceling 90% of its international flights, in light of the coronavirus outbreak.
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Wall Street pounded as Fed's shock move raises virus impact alarm
U.S. stock indexes plunged about 8% on Monday, as investors dumped risky assets for cash after the Federal Reserve's drastic move to cut interest rates to near zero amplified worries over the extent of damage from the coronavirus pandemic.
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Exclusive: Airbus eyes contingency plan to slow or halt output - sources
Airbus has drawn up contingency plans to slow or stop production if France is placed under a further lockdown due to coronavirus, two people familiar with the matter said.
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French carmaker PSA closes European factories due to virus spread
French carmaker PSA said on Monday the company will close its European factories until March 27 due to the coronavirus outbreak spread.
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Uber Eats waives off delivery fee for independent restaurants amid virus outbreak
Uber Technologies Inc's food delivery business, Uber Eats, said on Monday it would waive off delivery fee for independent restaurants across the United States and Canada.
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Exclusive: UK supermarkets may cut services to stay open as coronavirus spreads - sources
Britain's major supermarkets are working on plans to streamline their operations by cutting cafes, counters and other services to enable a depleted workforce to maintain basic provisions during the coronavirus outbreak, industry sources told Reuters.
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Oil slumps below $30-per-barrel as coronavirus spreads, OPEC rancor remains elevated
Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, leading governments and businesses to shut down as the global economy appeared to be headed toward certain recession.
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White House drafting financial package for U.S. airlines: sources
The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep falloff in U.S. travel demand, officials briefed on the matter said Monday.
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Brazil's Azul cuts international flights; carriers expect government aid
Brazilian airline Azul said on Monday it would cut all international flights out of its main hub in Sao Paulo state, while the country's government is likely to roll out a relief package as the sector struggles with the coronavirus pandemic.
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Carmakers put brakes on European production as coronavirus hits
Carmakers including Fiat Chrysler, Peugeot and Volkswagen cut production at European plants on Monday as they grappled with the coronavirus crisis and diving demand.
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Deutsche Telekom postpones shareholder meeting over coronavirus
Deutsche Telekom on Monday postponed its March 26 annual general shareholders meeting due to the coronavirus, saying it planned to hold the gathering during the first eight months of this year as required by law.
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White House drafting financial package for U.S. airlines battered by coronavirus: sources
The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep falloff in U.S. travel demand, officials briefed on the matter said Monday.
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U.S. could start buying crude for Strategic Petroleum Reserve in two weeks
The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several months, an Energy Department source said on Monday.
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Wall Street hammered as fears of virus-driven recession grow
U.S. stock indexes plunged about 7% on Monday, as the Federal Reserve's drastic interest rate cut to near zero stoked fears of a coronavirus-driven recession.
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French carmaker Renault to halt production in France
French carmaker Renault said on Monday it was shutting down production at its industrial sites in France until further notice because of the coronavirus outbreak.
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