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Oil prices fell on Monday, paring last week's gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.

The European Union's competition watchdog on Monday approved French state aid worth 7 billion euros ($7.66 billion) for Air France , saying the support would provide cash to soften the economic shock of the coronavirus pandemic.

Norwegian Air's shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic.

Spain's Telefonica SA confirmed on Monday it has opened talks with billionaire John Malone's Liberty Global Plc over a possible merger of the two companies' businesses in Britain.

British chocolatier Hotel Chocolat has increased its banking facilities to help get it through the coronavirus crisis, it said on Monday.

Norwegian Air has won "strong support" from aircraft lessors for its plan to convert debt into equity, the carrier said on Monday, as shareholders prepared to cast their vote on the scheme in a meeting set to begin at 0630 GMT.

India's Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc , boosting its efforts to cut debt.

The dollar inched higher, stock markets struggled for traction and oil dropped on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.

Oil prices fell on Monday, paring last week's gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.

Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook as the Indian conglomerate looks to pare debt.

Citigroup Inc has named veteran banker Kaleem Rizvi as its Asia Pacific head of the corporate banking business, according to an internal memo reviewed by Reuters on Monday.

General Motors Co's South Korean unit plans to sharply cut output this month at a factory producing its new Trailblazer sport-utility vehicle (SUV), as the coronavirus outbreak weighs on its U.S. exports and also disrupts parts supplies.

Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest 56.56 billion rupees ($746.74 million) in its digital arm, giving it a valuation of 4.90 trillion rupees.

The dollar inched higher, stock markets struggled for traction and oil fell on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.

The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus - and growing unease at the gulf between asset prices and grim economic reality - turned investors cautious.

Oil prices fell in early trade on Monday, paring last week's gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease.

U.S. crude futures fell more than 5% in early trade on Monday, paring last week's gains, on worries about oil oversupply and tempered hopes for an economic recovery as some U.S. states and cities around the world ease coronavirus pandemic restrictions.

With the largest U.S. airlines now set to mandate - and provide - facial coverings for all passengers over the next two weeks, many are turning their focus to other measures to prevent the spread of the new coronavirus during air travel.

White House economic adviser Larry Kudlow said on Sunday he would not rule out anything in a new relief bill to ease the "tremendous hardships" of the coronavirus outbreak, including more money for state and local governments and small businesses.

The ongoing U.S. travel crisis is causing thousands of job cuts as the aviation sector waits for passengers to return to the skies but braces for years of lower demand because of the coronavirus pandemic.