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Updated: 4 years 27 weeks ago
Fed's Mester says coronavirus outbreak could weigh on U.S. economic growth
The coronavirus outbreak muddied the outlook for U.S. economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London Tuesday.
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OPEC, Russia moving closer to big oil cut as coronavirus hits demand
A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak.
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UPS and FedEx warn coronavirus outbreak could hurt operations
U.S. package delivery companies United Parcel Service Inc and FedEx Corp warned on Tuesday that the coronavirus outbreak could disrupt shipment of goods in affected countries and possibly weigh on their first-quarter results.
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Nokia says will cut up to 148 jobs in Finland this year
Finnish network equipment maker Nokia will cut up to 148 jobs in Finland in 2020 excluding its 5G development operations, it said on Tuesday evening.
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Fed makes emergency rate cut as coronavirus spreads
The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, though Fed Chair Jerome Powell suggested the threat to the economy would not soon abate.
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Lufthansa CEO supports Boeing-Embraer tie-up
Germany's Lufthansa threw its weight behind a proposed $4.2 billion takeover of Embraer's commercial aircraft activities by Boeing , saying it would preserve a level playing field.
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Oil falls on coronavirus fears despite Fed rate cut and hopes for OPEC+ output cut
Oil prices fell in a volatile session on Tuesday, succumbing to fears that the coronavirus would take a heavy toll on energy demand even after the Federal Reserve cut U.S. interest rates and OPEC and allied producers considered more output cuts to support prices.
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Gold jumps, stocks trade erratically after Fed's rate cut
Global equity markets seesawed erratically in volatile trade and gold prices rose more than 3% on Tuesday after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the coronavirus.
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OPEC and allies to consider significant oil output cuts as coronavirus hits demand
OPEC and its allies will consider making substantial oil production cuts to lift prices that have been battered by the coronavirus outbreak, Algeria's oil minister said on Tuesday, as ministers began arriving for talks in Vienna this week.
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OPEC+ panel considered oil output cut of 600,000-1 mln bpd: sources
A technical committee of OPEC and its allies considered a cut in oil production of 600,000 to 1 million barrels per day (bpd), and recommended a reduction in output of at least 600,000 bpd, two sources said.
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Fidelity 2019 profit rose 10% on strong flows into index and money-market funds
Fidelity Investments said on Tuesday operating profit in 2019 climbed 10% to $6.9 billion as investors pushed their cash into money-market and passively managed products while pulling billions of dollars from actively managed stock funds.
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Fed's emergency rate cut spooks Wall Street
Wall Street tumbled in a volatile session on Tuesday after the Federal Reserve's surprise half percentage-point cut in interest rates raised alarm over the magnitude of the coronavirus impact on the economy.
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Hudson's Bay Co Chairman Richard Baker to take over as CEO
Hudson's Bay Co Chairman Richard Baker will take over as chief executive officer, the company said on Tuesday, after his bid to take the owner of Saks Fifth Avenue private was approved by shareholders.
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Saudi SABIC lifts Swiss chemicals maker Clariant stake
Chemical giant Saudi Basic Industries Corporation (SABIC) said on Tuesday that it had raised its stake in Swiss chemicals maker Clariant to 31.5% from 25%.
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Thermo Fisher agrees to buy genetic tester Qiagen in $11.5 billion deal
Thermo Fisher Scientific Inc said on Tuesday it agreed to acquire German genetic testing company Qiagen NV in an $11.5 billion deal as the U.S.-based company looks to bolster its health diagnostic business.
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U.S. joins False Claims Act lawsuit against Mallinckrodt
The U.S. government said on Tuesday it filed a lawsuit accusing a unit of the drugmaker Mallinckrodt Plc of improperly avoiding the payment of hundreds of millions of dollars in Medicaid rebates as a result of large drug price increases.
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ECB ready to support economy, but governments must help, Villeroy says
The European Central Bank is ready to support the economy in the face of the coronavirus outbreak, but governments with budget leeway also need to help, ECB policymaker Francois Villeroy de Galhau said in a Dutch newspaper interview released on Tuesday.
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Wall Street losses deepen after Fed emergency rate cut
U.S. stock markets fell sharply on Tuesday on worries that even a half percentage-point cut in interest rates might not be enough to stave off the economic impact of the coronavirus outbreak and halt the worst sell-off in more than a decade.
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Exxon Mobil calls for tighter methane regulations
Exxon Mobil on Tuesday called for tighter regulation of the greenhouse gas methane and offered up its own in-house rules as a model for companies and lawmakers worldwide.
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