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Goldman Sachs slashes second quarter U.S. GDP estimate further
Goldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would be higher, citing anecdotal evidence and "sky-high jobless claims numbers."
Categories: Reuters
Coronavirus concerns delay restart of Ford's North American production
Ford Motor Co said on Tuesday it was postponing its plan to restart production at its North America plants due to safety concerns for its workers amid the coronavirus pandemic.
Categories: Reuters
Disney+ to launch in India on April 3: ET
Walt Disney Co's video streaming service, Disney+, will launch in India on April 3 through its local partner Hotstar, the Economic Times reported https://economictimes.indiatimes.com/magazines/panache/amidst-lockdown-disney-plus-makes-it-way-to-india-users-can-start-streaming-from-april-3/articleshow/74913298.cms on Tuesday.
Categories: Reuters
U.S. proposes minimum air service rules for airlines receiving assistance
The U.S. Transportation Department on Tuesday proposed minimum flight requirements for passenger airlines receiving aid from the government's $50 billion grant and loan fund.
Categories: Reuters
Global M&A dwindles as coronavirus batters world’s economies
Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers.
Categories: Reuters
Ford, GE to produce 50,000 ventilators in 100 days
Ford Motor Co said on Monday it will produce 50,000 ventilators over the next 100 days at a plant in Michigan in cooperation with General Electric's healthcare unit, and can then build 30,000 per month as needed to treat patients afflicted with the coronavirus.
Categories: Reuters
Explainer: What the Federal Reserve has done in the coronavirus crisis
The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including slashing rates to zero and relaunching large-scale asset purchases.
Categories: Reuters
Google Japan defends impartiality of search results amid lockdown rumors
Google on Tuesday defended the impartiality of its search results after users in Japan seeking to corroborate rumors of an imminent state of emergency declaration by the government were met with no results on its website.
Categories: Reuters
Huawei warns China will strike back against new U.S. restrictions
Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States.
Categories: Reuters
Crisis-hit airlines face crippling cash squeeze, IATA says
Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the coronavirus crisis.
Categories: Reuters
Virgin Money delays branch closures and job cuts due to coronavirus lockdown
British bank Virgin Money said on Tuesday that it will halt until further notice the planned closure of 52 branches and 500 job losses, as it grapples with the fallout from the coronavirus outbreak.
Categories: Reuters
INEOS to build third European hand sanitiser plant in ten days
Chemicals manufacturer INEOS [INEOSG.UL] said on Tuesday it will build a hand sanitiser plant in France in 10 days to help meet a European shortage and has begun production at its new British and German plants ahead of schedule.
Categories: Reuters
Ford delays North American production restart over coronavirus concerns
Ford Motor Co said on Tuesday it was postponing its plan to restart production at its North America plants due to safety concerns for its workers amid the coronavirus pandemic.
Categories: Reuters
Dollar surges on quarter-end flows; outlook robust
The dollar climbed against a swathe of currencies on Tuesday amid fiscal year-end demand by Japanese firms while the Australian dollar slipped despite a Chinese survey showing manufacturing returned to growth in March.
Categories: Reuters
Microsoft clarifies Teams usage surged 775% in Italy
Microsoft Corp said it has seen a 775% jump in a month for Teams calling and meeting in Italy, withdrawing an earlier statement that the surge was for its cloud services in regions around the world that enforced social distancing to curb transmission of the coronavirus.
Categories: Reuters
Oil rises after 18-year lows prompt U.S.- Russia talks plan
Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks aimed at stabilising energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.
Categories: Reuters
Factbox: Airlines ground flights, count mounting costs of the coronavirus shock
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.
Categories: Reuters
Russia's Gazprom says Bovanenkovo airport partially reopens
Russia's Gazprom said on Tuesday that the Bovanenkovo airport, shut due to a coronavirus scare, has partially resumed operations to handle industrial cargoes and food, though there are no plans to rotate staff at the gas field.
Categories: Reuters
Deutsche Bank to sponsor Eintracht Frankfurt soccer team - sources
Deutsche Bank is set to ink a sponsorship deal with its local soccer team Eintracht Frankfurt, two people with knowledge of the matter said on Tuesday.
Categories: Reuters
Stocks end worst quarter since 2008 with small recovery
World stocks were set to close their worst quarter since 2008 on a brighter note, as Chinese factory data on Tuesday held out hope for an economic revival even as much of the rest of the world locked down to fight the coronavirus.
Categories: Reuters