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Updated: 4 years 27 weeks ago
India sets out Yes rescue, State Bank of India to take 49% stake
India laid out a rescue plan for Yes Bank on Friday under which State Bank of India will take a 49% stake in the troubled lender, which is struggling with bad loans.
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State Bank of India to buy 49% stake in Yes Bank under rescue plan
State Bank of India , the country's largest lender, will take a 49% stake in Yes Bank , the Reserve Bank of India (RBI) said late on Friday as it laid out a plan for the rescue of the troubled private lender.
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Oil slides nearly 4% after Russia rejects steeper OPEC+ cut
Oil prices were down nearly 4% on Friday on concerns that OPEC might not go ahead with steeper oil output cuts to bolster prices after Reuters reported that Russia rejected the proposal.
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OPEC fails to secure deal with non-OPEC on oil cuts: OPEC sources
OPEC has failed to secure a deal with Russia and other non-OPEC producers on its plans for big, additional oil production cuts, two OPEC sources said on Friday at talks between ministers from the informal alliance known as OPEC+.
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Wall Street slumps, investors flee to safe havens on virus fears
U.S. stocks opened sharply lower on Friday, as the global tally of coronavirus infections surpassed 100,000 and jittery investors took cover in perceived safe havens such as bonds and gold.
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EU plans state aid rule waivers, other measures to help cope with virus
The European Commission is considering various steps to help member states with the economic impact of the coronavirus outbreak, including targeted waivers on state aid rules, an official of the EU executive said on Friday.
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U.S. Fed to slash interest rates in coming months, traders bet
Traders are betting the Federal Reserve will deliver another, bigger reduction in borrowing costs at its mid-March policy meeting, as worries about the spread of the new coronavirus trumped data showing robust hiring by U.S. employers last month.
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Number of coronavirus infections tops 100,000 globally: Reuters tally
The number of people infected by the new coronavirus globally surpassed 100,000 on Friday, according to a Reuters tally based on statements from health ministries and government officials.
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U.S. trade deficit narrows in January; exports, imports fall
The U.S. trade deficit narrowed more than expected in January as imports declined, and further decreases are likely as the coronavirus outbreak disrupts the flow of goods and services.
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Robust U.S. job growth boosts economy as coronavirus rages
U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
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Traders bet Fed will make another, bigger rate cut in mid-March
Traders of futures contracts tied to the Federal Reserve's policy rate were betting Friday on another, even bigger reduction to borrowing costs at the U.S. central bank's mid-March meeting.
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Coronavirus wreaks financial havoc as infections near 100,000
Business districts around the world began to empty and stock markets tumbled on Friday as the number of coronavirus infections neared 100,000 and the economic damage wrought by the outbreak intensified.
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Coronavirus cases rise to 45 in Greece after group trip to Israel, Egypt
Greece has confirmed 14 new cases of coronavirus infection, health authorities said on Friday, bringing the total in the country to 45.
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Futures tank as virus fears spur flight to safety
U.S. stock index futures dropped sharply on Friday as compounding fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as bonds and gold.
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World stocks succumb to virus fears, Treasury yields hit record lows
Global stock markets tumbled and government bonds rallied on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.
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Oil slides by 4% after Russia rejects steeper OPEC+ cut
Oil prices fell 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.
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OPEC oil cuts deal in trouble as Russia still not on board
Russia will not back an OPEC call for extra oil output cuts and will only agree to extending existing curbs, a Russian source said on Friday, threatening to derail a plan by OPEC ministers for deeper reductions to cope with the coronavirus outbreak.
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India's Tata Motors warns of JLR profit hit due to coronavirus
Indian automaker Tata Motors warned on Friday of lower profit at its British luxury car brand Jaguar Land Rover (JLR) for the fiscal year as the coronavirus outbreak has hit sales in China.
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Wall St. to open sharply lower as virus fears shut down California (March 5)
(This March 5 story corrects Reuters instrument code for 10-year U.S. Treasury in paragraph 14 to "US10YT=RR", from "US10YR=RR")
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Nissan pushes on with new vehicle plan at UK factory despite Brexit warning
Nissan is pushing on with plans to build its new Qashqai sports utility vehicle at its British factory despite warnings over Brexit, announcing on Friday a 52-million pound investment in a new press line at the site.
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