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Updated: 4 years 27 weeks ago
Boeing to draw down billions in loan cash as pressure builds
Boeing Co is planning to draw down the rest of a $13.8 billion loan it agreed last month, a source told Reuters on Wednesday, as the coronavirus outbreak adds to pressure on the U.S. plane-maker due to the grounding of its 737 MAX jets.
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BlackRock says voted against Qualcomm executive pay, director
Top fund manager BlackRock Inc said on Wednesday it cast an advisory vote against the pay of executives at chipmaker Qualcomm Inc, , and against a compensation committee member, citing a concern that a one-time stock award was "not aligned" with shareholder interests.
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Equinor's offshore oil rig infection exposes coronavirus dangers
Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.
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Boeing scores widebody orders in February, MAX cancellations mount
Boeing Co said on Wednesday it took in 18 new orders for widebody planes in February but saw more customers cancel orders of its grounded and previously best-selling 737 MAX jet, as it faced another blow to demand from the coronavirus outbreak.
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PepsiCo aims for energy boost with $3.85 billion Rockstar deal
PepsiCo Inc on Wednesday made its biggest bet in the energy drinks market with a $3.85 billion deal to buy Rockstar Energy Beverages, opening a new front in its long-running battle with Coca-Cola Co .
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Telefonica, TIM plan joint bid for Oi's mobile business in Brazil
Shares in Telefonica Brasil SA and TIM Participações SA rose in the morning trading as both companies said they are planning a joint offer to buy the mobile unit of bankrupt Brazilian carrier Oi SA .
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Boeing plans full drawdown of $13.8 billion loan: Bloomberg News
Boeing Co is planning a full drawdown of a $13.8 billion loan as early as Friday, as the U.S. based plane-maker struggles with worldwide travel disruptions from the coronavirus, Bloomberg reported on Wednesday, citing unnamed sources.
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UAE joins Saudi in opening oil taps as row with Russia slams crude prices
The United Arab Emirates followed Saudi Arabia on Wednesday in promising to raise oil output to a record high in April, as the two OPEC producers raised the stakes in a standoff with Russia that has hammered global crude prices.
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Wall Street tumbles on lack of stimulus details
U.S. stock indexes dropped sharply on Wednesday after attempting a rebound in the previous session, on skepticism around President Donald Trump's stimulus plan to combat the coronavirus outbreak.
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Wall Street slumps at open as investors wary of U.S. response to virus
U.S. stock indexes fell sharply at the open on Wednesday as investors were skeptical about President Donald Trump's stimulus plan to combat the coronavirus epidemic.
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Stock rebound runs out of steam despite emergency BoE cut
The rebound in stocks ran out of steam on Wednesday despite the Bank of England joining other central banks in cutting interest rates, as investors weighed up whether coordinated monetary and fiscal stimulus could counter the shock from coronavirus.
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Rising food costs lift U.S. consumer prices in February
U.S. consumer prices unexpectedly rose in February but are likely to decline in the months ahead as the coronavirus outbreak depresses demand for some goods and services, outweighing price increases related to shortages caused by disruptions to the supply chain.
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Oil falls 3% as Saudi, UAE plan for higher output capacity
Oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity and the coronavirus fed worries about demand.
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U.S. consumer prices unexpectedly rise in February
U.S. consumer prices unexpectedly rose in February but are likely to decline in the months ahead as the coronavirus outbreak depresses demand for some goods and services, outweighing price increases related to shortages caused by disruptions to the supply chain.
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Futures fall as investors wary of U.S. response to virus
U.S. stock index futures fell more than 2% on Wednesday after strong gains in the previous session, on skepticism about President Donald Trump's stimulus plan to combat the economic impact of the coronavirus epidemic.
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UAE joins Saudi in opening oil taps as row with Russia hits crude prices
The United Arab Emirates joined Saudi Arabia on Wednesday in promising to raise oil output to a record high in April, as the two Gulf Arab oil producers in OPEC took a united stand in a standoff with Russia that has hammered global crude prices.
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Stocks gain after emergency BoE cut adds to stimulus hopes
European stocks rose on Wednesday after the Bank of England joined other central banks in cutting interest rates, raising hopes for more co-ordinated monetary and fiscal stimulus to counter the economic shock from the coronavirus outbreak.
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Britain fires with both barrels: emergency rate cut and budget boost
The Bank of England slashed interest rates by half a percentage point on Wednesday and announced support for bank lending just hours before the unveiling of a budget splurge designed to stave off a recession triggered by the coronavirus outbreak.
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Oil falls $1 as price war escalates with Saudi plan for higher output capacity
Oil prices fell on Wednesday, giving up earlier gains, pressured by Saudi Arabia's plans to boost oil production capacity for the first time in more than a decade and weakened demand due to the spread of the coronavirus.
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One person infected with coronavirus at Equinor's offshore oil project
A worker at Equinor's Martin Linge offshore oil and gas development has been diagnosed with the coronavirus and is being held in isolation, the Norwegian energy firm said on Wednesday.
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