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Updated: 4 years 29 weeks ago
Exclusive: Chevron sees up to 15% reduction in positions - memo
Chevron Corp expects a 10% to 15% reduction in positions across the company as part of a restructuring at the second-largest U.S. oil producer that started late last year, according to an internal memo seen by Reuters.
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All three Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford Motor Co has temporarily closed plants.
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Ackman says portfolio is up as much as 27%, sold Berkshire recently
Billionaire investor William Ackman told investors on Wednesday that his funds have gained as much as 27% this year and that the stocks he already owns are still cheap after the coronavirus sparked a historic market sell off in March.
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U.S. mortgage applications rise for sixth straight week
U.S. applications for home mortgages jumped last week, in a sixth straight weekly increase, suggesting the housing market could lead the economy's recovery from the novel coronavirus crisis even as high unemployment is expected to linger.
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Boeing cutting more than 12,000 U.S. jobs with thousands more planned
Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic.
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Twitter's fact-check label prompts Trump threat to shut down social media companies
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies for stifling conservative voices, a day after Twitter attached a warning to some of his tweets prompting readers to fact check the president's claims.
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Oil slides on U.S.-China tensions, doubts about Russian output cuts
Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong and as some traders doubted Russia's commitment to deep production cuts.
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Lufthansa board rejects EU conditions on $10 bln bailout
German airline Lufthansa's supervisory board on Wednesday rejected conditions imposed by Brussels on a proposed government bailout, casting fresh doubt on the 9 billion euro ($9.9 billion) rescue.
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Tech weakness weighs on S&P 500, Nasdaq
A selloff in technology stocks dragged on the S&P 500 and Nasdaq on Wednesday, with investors also cautious about brewing U.S.-China tensions at a time when policymakers are attempting to revive the global economy from a coronavirus-driven slump.
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Goldman Sachs president says bank on track to meet growth goals
Goldman Sachs Group Inc President and Chief Operating Officer John Waldron said Wednesday that the bank remains on track to achieve its medium and long term growth targets despite the economic shocks caused by the novel coronavirus.
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Hershey says mint, gum sales hit as lockdowns restrict social gatherings
Hershey Co said on Wednesday sales of gums and mints have taken a hit as social distancing protocols spurred by the COVID-19 pandemic discouraged people from participating in gatherings.
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All 3 Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford Motor Co has temporarily closed plants.
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Dollar steadies against euro; yuan slips on U.S.-China tensions
The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.
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Nokia veteran Sari Baldauf takes over as 5G battle rages
Sari Baldauf took over as chairwoman of telecoms equipment maker Nokia on Wednesday, succeeding Risto Siilasmaa who chaired the Finnish firm for eight years.
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Euro, stocks retreat from rally on EU stimulus plan
The euro retreated from near two-month highs and equity markets wavered on Wednesday even as the European Union unveiled a 750 billion euro ($823 billion) recovery fund that helped offset concerns about unrest in Hong Kong over Beijing's proposed security laws.
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Boeing laying off 6,700 U.S. workers with thousands more planned
Boeing Co said Wednesday it will notify 6,770 U.S. workers they are being laid off with "several thousand remaining layoffs" planned in the next few months, chief executive Dave Calhoun told workers in an email.
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Italy's RCS says court ruled 2013 sale to Blackstone valid, may still win damages
Milan's Arbitral Tribunal has judged that the 2013 sale of RCS' headquarters to Blackstone Group was valid but found that the purchaser's behaviour may entitle the Italian publisher to compensatory damages, RCS said late on Tuesday.
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Online sales surge helps Ralph Lauren recover in China
Ralph Lauren Corp said on Wednesday a surge in online shopping was helping it get back on track in China and putting it on course for a recovery from the financial damage wrought by the COVID-19 lockdowns in other markets as well.
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Trump threatens to shutter social media companies after Twitter warning
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president's claims.
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Tesla cuts prices by as much as 6% in North America to boost demand
Tesla Inc has cut prices of its electric vehicles by as much as 6% in North America following a decline in auto demand in the region during weeks of lockdown that have now started to ease.
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