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Updated: 4 years 29 weeks ago
Exclusive: Flying blind - Marubeni's Gavilon ignored Brazilian red flags
When Japanese conglomerate Marubeni booked a loss of 3.9 billion yen ($35 million) at its U.S. grain trader Gavilon in November, it blamed adjustments for "inappropriate transactions" with Italy and Spain.
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BA owner, easyJet make drastic cuts to try to survive coronavirus
The owner of British Airways and easyJet, Europe's no.3 and no.4 airlines, warned aircraft would be grounded on an unprecedented scale in a battle to survive the coronavirus, but while easyJet said state aid was needed, BA's owner talked of self-help.
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Fiat Chrysler halts production in Europe as coronavirus hits demand
Fiat Chrysler Automobiles (FCA) is halting production for two weeks at most of its European plants to help protect staff against the coronavirus pandemic and adjust to a slump in demand, the Italian-American carmaker said on Monday.
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Futures pounded as Fed's aggressive rate cut fans recession fears
Wall Street looked set to crater on Monday after the Federal Reserve's aggressive move to cut interest rates to nearly zero heightened fears of the economy tipping into a coronavirus-driven recession.
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French antitrust body fines Apple 1.1 billion euros for anti-competitive behavior
France's competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behavior in its distribution network and an abuse of economic dependence on its resellers.
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Major airline alliances call on governments for support due to coronavirus
The three major airline alliances — Star, SkyTeam and oneworld — on Monday jointly called on governments and stakeholders to extend extraordinary support to airlines to alleviate pressure caused by the coronavirus outbreak.
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Airlines slash schedules, jobs and pay after new travel restrictions
Airlines around the world said they would make more drastic cuts to their flying schedules, shed jobs and seek government aid after countries further tightened border restrictions because of the fast spreading coronavirus.
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Ryanair grounds most of its fleet across Europe for the next week
Ryanair said on Monday it would ground most of its aircraft in Europe over the next seven to 10 days, expects to cut seat capacity by 80% for the next two months, and could even ground its entire fleet, given travel restrictions due to the coronavirus pandemic.
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U.S. crude falls below $30 as Fed move fails to calm markets
U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
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Volkswagen's Portugal plant reduces output by 16% due to coronavirus
Volkswagen's Autoeuropa car assembly plant near Lisbon has reduced its daily output by 16% because of a shortage of workers after Portugal ordered all schools closed amid the coronavirus outbreak, the plant said on Monday in a statement. ´
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The plumbing behind world's financial markets is creaking. Loudly
The coronavirus panic is jolting stock markets, with steep drops in major indexes grabbing the public’s attention. But behind the scenes, there is less understood and potentially more worrying evidence that stress is building to dangerous levels in crucial arteries of the financial system.
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What do the Fed's latest moves mean for U.S. consumers?
The U.S. Federal Reserve unleashed new emergency measures on Sunday night to limit the economic harm from the coronavirus, including making it easier for banks to get money and slashing its benchmark borrowing rate to near zero.
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Quarantined bankers, video roadshows: coronavirus hits Argentine debt talks
Argentina's ambitious target to strike a deal with bondholders to revamp almost $70 billion in debts by the end of March was never going to be easy. Now a coronavirus outbreak and crashing bond markets threaten to complicate things further.
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Nike, Under Armour join retailers shutting stores to limit virus spread
Nike Inc, Lululemon Athletica Inc and Under Armour Inc on Sunday said they would close stores in the United States and other markets, joining a growing list of major retailers moving to help limit the spread of the coronavirus.
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Sanofi says production running as per normal, sees no shortages
Sanofi on Monday said its production sites were running normally in Europe and elsewhere as the coronavirus outbreak hits business activity globally, although the drugmaker has put in place contigency plans to ensure continuity.
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Global central banks pull out all stops as coronavirus paralyzes economies
The U.S. Federal Reserve and its global counterparts moved aggressively with sweeping emergency rate cuts and offers of cheap dollars to help combat the coronavirus pandemic that has jolted markets and paralyzed large parts of the world economy.
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Wall Street set to crash again after Fed slashes rates
Wall Street looked set to crater on Monday as fears of a coronavirus-driven recession intensified following a second emergency interest rate cut in a fortnight by the Federal Reserve.
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Uniqlo owner says most shops in China outside Hubei have reopened
Japan's Fast Retailing said only 30 of its 750 Uniqlo stores in China were still closed, meaning most of its shops outside Hubei province, the epicenter of the coronavirus outbreak, had reopened.
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Stocks dive as Fed & co fail to calm panicky markets
Stock markets were routed and the dollar stumbled on Monday after the Federal Reserve slashed U.S. interest rates in an emergency move and its major peers offered cheap U.S. dollars in a bid to prevent global lending markets seizing up.
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Global central banks pull out all stops as coronavirus paralyses economies
The U.S. Federal Reserve and its global counterparts moved aggressively with sweeping emergency rate cuts and offers of cheap dollars to help combat the coronavirus pandemic that has jolted markets and paralyzed large parts of the world economy.
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