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Updated: 4 years 27 weeks ago
ECB expands pandemic support to over $1.5 trillion
The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns due to the coronavirus pandemic.
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ECB sees big 2020 recession, partial rebound next year
The European Central Bank expects the euro zone to suffer a deep recession this year, with losses only partly made up in 2021 as pandemic-related restrictions weigh on output for an extended period.
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Lagarde comments at ECB press conference
The European Central Bank beefed up its bond-buying programme on Thursday in its latest effort to support a euro zone economy pummelled by more than two months of shutdowns to cope with the coronavirus pandemic.
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ECB policymakers debated 500-750 billion euros package before compromise, sources say
European Central Bank policymakers debated expanding their pandemic-fighting programme by between 500 billion euros ($566 billion) and 750 billion euros on Thursday before settling for a compromise figure, three sources told Reuters.
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LVMH propels Arnault scion to head up Tag Heuer watches
LVMH said on Thursday Frederic Arnault, one of the younger sons of the luxury goods group's billionaire boss, would take over running watch brand Tag Heuer, joining his siblings in taking on bigger roles within the conglomerate.
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Germany will require all petrol stations to provide electric car charging
Germany said it will oblige all petrol stations to offer electric car charging to help remove refuelling concerns and boost consumer demand for the vehicles as part of its 130 billion euro ($146 billion) economic recovery plan.
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S&P 500, Nasdaq slide after rallying on recovery optimism
The S&P 500 and Nasdaq indexes edged lower in choppy trading on Thursday, as a rally fueled by hopes of a post-coronavirus economic recovery fizzled out even with weekly jobless claims dipping below 2 million for the first time since mid-March.
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Tech stocks have been a winning bet, but investors worry it will fade
A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon.
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EBay raises forecasts on online boom, shares hit record high
EBay Inc raised its current-quarter revenue and profit forecasts on Thursday, as people stuck at home due to the COVID-19 pandemic ordered more through its online platform, sending its shares to a record high.
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For U.S. economy, the bottom may be here, but the rebound is slow so far
The U.S. economy may have hit its low point in the coronavirus crash but the rebound so far remains tepid, according to both broad indexes of activity and higher frequency counts of cellphone data and employee time information.
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American Airlines seeing slow but steady rise in domestic demand
American Airlines Group Inc said on Thursday it was seeing a slow but steady rise in domestic demand, as coronavirus-led lockdowns start to ease.
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American Airlines to boost U.S. flights in July as economy reopens
American Airlines Group Inc said Thursday it will boost its U.S. flight schedule next month over dramatic reductions since the coronavirus pandemic, planning to fly more than 55% of its July 2019 domestic capacity.
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Tech stocks boost Nasdaq as recovery optimism prevails
A rally in tech shares drove the Nasdaq index higher on Thursday, with weekly jobless claims dipping below 2 million for the first time since mid-March bolstering optimism around an economic rebound from the coronavirus-driven slump.
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HKEX says many U.S.-listed Chinese firms plan Hong Kong listings
Many U.S.-listed Chinese firms will likely list on the Hong Kong exchange this year, in part because of U.S. political pressure following China's new national security legislation on Hong Kong, the head of the exchange said on Thursday.
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U.S. court blocks sales of Bayer's weed killer
German group Bayer AG has been blocked from selling its dicamba-based weed killer in the United States, the latest setback for a business that is already fighting an expensive legal battle over another of its products.
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Intesa CEO says state-backed FCA loan crucial to protect Italy's economy
A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) financed by Intesa Sanpaolo is crucial to safeguard Italy's economy, the head of the country's biggest bank said.
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Bank of America to pay $7.23 million for mutual fund overcharges: FINRA
Bank of America Corp agreed to pay $7.23 million in restitution and interest to settle a U.S. regulator's accusations that it overcharged customers on mutual funds.
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ECB sends euro higher, stocks struggle with fatigue
World markets swung between hope and caution on Thursday as a another shot of European Central Bank stimulus was offset by still-troublesome U.S. data and general fatigue after a weeks-long rebound in risk appetites
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Oil drops on U.S. inventories and doubts over output cuts
Oil prices dropped on Thursday on doubts over the ability of crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories.
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