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Updated: 4 years 27 weeks ago
Oil jumps after rout on stimulus hopes, Russian signal on OPEC talks
Oil prices jumped by more than 7% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying, and Russia signaled that it may yet hold talks with OPEC about cooperation on output cuts.
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Coronavirus wipes $70 billion off global listed airlines
The rapid spread of coronavirus has wiped almost a third - or $70 billion - off the world's top 20 listed airlines and reshuffled global rankings, elevating Air China into third place behind U.S. rivals, an analysis by Reuters shows.
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Spread of virus drives Corporate America into cyberspace for annual meetings
More U.S. companies are moving their annual shareholder meetings online to help contain the spread of coronavirus, raising concerns among corporate democracy advocates about investors losing access to top executives and board directors.
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U.S. airlines ditch 2020 forecasts, slash flights and costs on virus hit
Leading U.S. airlines on Tuesday unveiled more sweeping capacity cuts and cost-saving measures in response to a sharp decline in demand over the spreading coronavirus, including a $2 billion capital raising by United .
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Airlines strive to stave off calamity as coronavirus locks down Italy
Airlines around the world sank deeper into crisis on Tuesday as the worsening coronavirus epidemic and Italy's lockdown hammered passenger numbers, forced the cancellation of thousands of flights and led to the delaying of plane orders.
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Saudi Arabia, Russia raise stakes in oil standoff
Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks.
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Trump presses 'pathetic' Fed to cut rates more aggressively
President Donald Trump on Tuesday lashed into the U.S. Federal Reserve and its chairman Jerome Powell, calling the institution "pathetic, slow moving" and saying it should bring U.S. interest rates down to the level of "competitor nations."
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China urges Tesla to keep products consistent as buyers complain about computers
China's industry ministry said on Tuesday it has urged Tesla Inc to keep its China-made vehicles consistent after some Chinese customers complained the U.S. electric vehicle maker put less advanced computer chips in their cars.
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EU suspends aviation slots rule as coronavirus hammers airlines
The European Union will suspend a rule requiring airlines to run most of their scheduled services or else forfeit landing slots, to give carriers some breathing space as the coronavirus crisis deepens, EU chief Ursula von der Leyen said on Tuesday.
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Tesla plans to expand car parts production capacity in Shanghai: government document
Tesla Inc plans to increase its production capacity for certain car parts at its $2 billion factory in China, according to a government document seen by Reuters, as it pushes to localize its supply chain in the world's biggest auto market.
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Coronavirus case at Apple's Irish HQ, Trinity College goes online
A worker at Apple's European headquarters in Cork in Ireland has tested positive for coronavirus, one of 24 cases reported so far in the country where its oldest university, Trinity College, has been forced to move all lectures online.
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EU proposes dropping airline slot rule in response to coronavirus
The European Commission has proposed temporarily dropping the rule that airlines operate 80% of scheduled services to retain landing slots as the coronavirus outbreak pummels the global aviation industry.
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Ryanair lowers 2020 traffic target as Italy imposes lockdown
Ryanair on Tuesday said it will cancel almost all of its flights to and from Italy for the next month, forcing it to cut its full year passenger forecast to end-March by 3 million.
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Airline SAS asks employees to take a 20% pay cut: DN
Scandinavian airline SAS is asking its employees to accept a 20% pay cut amid the coronavirus outbreak, Norwegian business daily DN reported on Tuesday, citing an email sent internally at the carrier.
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EU weighs dropping aviation slot rules as airline crisis deepens
Brussels was considering on Tuesday dropping a rule requiring airlines to run most of their scheduled services or forfeit their landing slots, a move that would give carriers some breathing space as the industry crisis over coronavirus deepens.
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Wall Street jumps at the open on stimulus hopes
U.S. stock indexes opened more than 2% higher on Tuesday as hopes of coordinated policy easing to avert a global recession calmed investor nerves a day after the biggest market rout since the financial crisis.
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United Airlines shores up liquidity, cuts costs to weather coronavirus
United Airlines Holdings Inc said on Tuesday it has raised an extra $2 billion in financing while slashing its 2020 capital expenditures by more than a third in an effort to prepare for a prolonged slump in travel demand due to COVID-19.
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Royal Caribbean withdraws 2020 forecast, boosts liquidity amid coronavirus fears
Royal Caribbean Cruises Ltd on Tuesday withdrew its first-quarter and full-year forecast, and increased its credit capacity by $550 million to boost liquidity amid concerns around the rapid spreading of coronavirus.
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Russia vs Saudi: How much pain can they take in oil price war?
Oil titans Russia and Saudi Arabia have accumulated vast financial cushions that will help them weather a lengthy price war. It's a battle of nerves - so who will blink first?
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U.S. blames 'state actors' for shocking oil markets, pleads for calm
The Trump administration on Monday accused "state actors" of touching off an historic slump in global oil prices, and urged Russia's ambassador to the United States to consider the importance of calming the markets.
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