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Updated: 4 years 27 weeks ago
BoE allows banks to tap capital cushion during coronavirus
The Bank of England told banks on Wednesday they can tap one of their capital buffers to maintain lending during the coronavirus epidemic, but warned they must not use the cash for bumping up bonuses or dividends.
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Stock futures fall as investors seek stimulus to combat virus spread
U.S. stock index futures were down 2% on Wednesday after strong gains in the previous session, with investors growing frustrated about the lack of details on fiscal stimulus floated by President Donald Trump to combat the coronavirus epidemic.
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U.S. farmers still dependent on trade aid after China deal
As U.S. President Donald Trump touted the signing of a U.S.-China trade deal in January, he told cash-strapped farmers they would soon need bigger tractors and "a little more land" to meet additional Chinese demand for U.S. agricultural goods.
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Highlights: Bank of England governor speaks at press conference
The Bank of England governor Mark Carney and his successor, Andrew Bailey, spoke at a press conference after the central bank unexpectedly cut interest rates by half a percentage point to 0.25% on Wednesday.
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BoE's Carney: No reason why UK economy should be hit as badly as 2008
There is no reason why the coronavirus outbreak should damage Britain's economy as badly as the financial crisis did in 2008, Bank of England Governor Mark Carney said on Wednesday.
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Disney annual meeting likely to address executive pay and coronavirus impact
Executive compensation and coronavirus are likely to be the focus of investor questions at Walt Disney Co's annual meeting on Wednesday - the first to feature the company’s new chief executive officer, Bob Chapek.
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Factbox: The economic remedies for the coronavirus
Policymakers have taken a range of approaches to deal with the economic fallout from the coronavirus, from emergency interest rate cuts and big spending packages to a wait-and-see-stance and pledges of action if required.
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Saudi announces plan to boost oil production capacity for first time in years
Saudi Arabia said on Wednesday it plans to boost oil production capacity for the first time in more than a decade, a day after it announced a record high hike in crude supply in a battle for market share that has hammered global prices this week.
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Oil falls as Saudi Aramco aims to increase 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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Fed faces headache, taps epidemiologists in hunt for policy clues
The escalating coronavirus outbreak is giving the U.S. Federal Reserve a policy headache like never before: how to judge the potential impact on the economy in the absence of reliable data on how fast the flu-like illness is spreading across the United States.
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U.S. senator calls for action on forced labor in China's Xinjiang
A senior U.S. senator on Tuesday accused U.S. firms of willfully ignoring "horrific" forced labor conditions in China's Xinjiang region and called on the Commerce Department to stop American companies and consumers buying goods produced by such labor.
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Fiat Chrysler temporarily halts some Italian plants to battle virus
Fiat Chrysler is temporarily halting operations at some plants in Italy and will reduce production rates in response to the coronavirus outbreak in the country, the largest in Europe, a spokesman for the automaker said on Wednesday.
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BoE's Carney says coordinating with finance ministry for max impact
Governor Mark Carney said on Wednesday the Bank of England was coordinating with Britain's finance minister to ensure its surprise interest rate cut and other measures announced on Wednesday would have maximum impact.
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Adidas sees $1 billion coronavirus hit to China sales, Puma warns on profit
German sportswear makers Adidas and Puma warned on Wednesday of a major decline in sales in China due to the coronavirus and said while there were early signs of improvement there the impact had spread to other markets.
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Fiat Chrysler might temporarily close Italy plants in response to virus
Fiat Chrysler said on Wednesday it might temporarily close some plants in Italy, where necessary, in response to a coronavirus outbreak in the country, the largest in Europe.
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Text: Bank of England cuts rates to 0.25% to bolster UK economy
The Bank of England cut its key interest rate to 0.25 percent on Wednesday and announced a raft of other measures to bolster Britain's economy against disruption caused by the coronavirus outbreak.
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Oil falls after Saudi Aramco asked to raise output capacity
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day.
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European stock futures jump as BoE joins rate cut party
Stock futures in London and across Europe jumped on Wednesday after the Bank of England joined other major central banks in cutting interest rates to offset economic damage caused by the coronavirus outbreak.
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Saudi Arabia has asked state agencies to implement big budget cuts: sources
Saudi Arabia has asked state agencies to submit proposals for cuts of at least 20% to their budgets in a fresh austerity drive to cope with a sharp drop in oil prices, four sources familiar with the matter said.
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Saudi Arabia has asked Aramco to boost oil capacity: CEO
Saudi Arabia's energy ministry has directed oil producer Saudi Aramco to raise its output capacity to 13 million from 12 million barrels per day (bpd), CEO Amin Nasser said in a statement on Wednesday.
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