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U.S. extends tax filing deadline to July 15: Mnuchin

Reuters Business News - Fri, 03/20/2020 - 21:28
The U.S. government will give individuals and companies an extra three months to file their 2019 tax returns, extending the deadline to July 15 amid the coronavirus outbreak.
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States rush to prepare for wave of U.S. unemployed

Reuters Business News - Fri, 03/20/2020 - 21:27
The U.S. unemployment benefits program, a key part of the safety net for the labor market, is facing its biggest test in more than a decade.
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Lyft drivers can join new delivery service, founders donate salaries

Reuters Business News - Fri, 03/20/2020 - 21:27
Lyft Inc on Friday told drivers they could sign up for work driving deliveries under a new service as ride-hailing demand plummets during the rapid spread of coronavirus in the United States.
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Goldman Sachs CEO's 2019 compensation rises 19%

Reuters Business News - Fri, 03/20/2020 - 21:13
Goldman Sachs Group Inc Chief Executive David Solomon's total compensation rose by 19%, or $4 million, for 2019 compared with 2018, according to a regulatory filing released on Friday.
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Wall Street weekahead: Coronavirus uncertainty muddies views on buying opportunities for plunging stocks

Reuters Business News - Fri, 03/20/2020 - 21:10
U.S. stock valuations are tumbling in the wake of the coronavirus-fueled market rout, but determining when equities are cheap enough to buy is a tricky proposition.
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Volkswagen tests ventilator output as carmakers join coronavirus fight

Reuters Business News - Fri, 03/20/2020 - 20:38
German carmaker Volkswagen said on Friday it was joining other manufacturers around the world to explore using 3D printing to make hospital ventilators to combat the coronavirus.
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U.S. to send envoy to Saudi Arabia; Texas suggests oil output cuts

Reuters Business News - Fri, 03/20/2020 - 20:25
The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in Texas considered curbing production there for the first time in nearly 50 years.
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Boeing suspends dividend, CEO foregoes pay after coronavirus-related aid request

Reuters Business News - Fri, 03/20/2020 - 19:50
Boeing Co will cancel CEO pay, suspend its dividend and extend a pause on share buybacks, the U.S. planemaker said on Friday, as companies eager for government aid to curb fallout from the coronavirus face pressure to cut payouts to investors.
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Wall Street dives, ends worst week since 2008, as New York, California impose restrictions

Reuters Business News - Fri, 03/20/2020 - 18:44
Wall Street wrapped up its worst week since October 2008, with the Dow Jones Industrial Average and S&P 500 sliding more than 4% on Friday as tough restrictions imposed by New York and California to try to limit the spread of the coronavirus fueled worries about damage to the U.S. economy.
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Panama's Copa Airlines cancels all flights as coronavirus crisis spreads

Reuters Business News - Fri, 03/20/2020 - 18:43
Panama's Copa Airlines on Friday said it will suspend all operations from March 22 until April 21, making it the first Latin American carrier to take such a drastic measure in order to weather the coronavirus crisis.
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Walmart's Mexico unit pulls elderly workers from checkouts on coronavirus concerns

Reuters Business News - Fri, 03/20/2020 - 18:34
Grocers including Walmart de Mexico have begun bowing to pressure to pull from stores tens of thousands of elderly workers who pack bags at checkouts as concerns grow about their vulnerability to coronavirus amid panic buying nationwide.
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Coronavirus death toll in Italy's Lombardy jumps some 380 in a day -source

Reuters Business News - Fri, 03/20/2020 - 18:33
The death toll from an outbreak of coronavirus in the northern Italian region of Lombardy, which has borne the brunt of a nationwide contagion, has risen by around 380 in a day to some 2,550, a source said on Friday.
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BMW will idle South Carolina plant for two weeks starting April 3

Reuters Business News - Fri, 03/20/2020 - 18:14
BMW AG said on Friday it will temporarily close its South Carolina plant for two weeks starting April 3.
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Goldman Sachs CEO sees 2019 compensation rise $4 million

Reuters Business News - Fri, 03/20/2020 - 18:10
Goldman Sachs Group Inc's Chief Executive David Solomon got a $4 million raise in his total compensation for 2019 from 2018, according to corporate filings released on Friday.
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Ted Baker says 38% of global retail sales hit by coronavirus

Reuters Business News - Fri, 03/20/2020 - 18:05
Troubled fashion retailer Ted Baker Plc said on Friday it has shut businesses that accounted for about 38% of its global retail sales in 2020 due to the coronavirus outbreak.
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Thyssenkrupp's Merz stays on as CEO to handle overhaul

Reuters Business News - Fri, 03/20/2020 - 18:02
Martina Merz, who took over as interim chief executive of Thyssenkrupp , will remain in the job until 2023 after successfully selling the group's elevator unit in a landmark deal last month, the conglomerate said on Friday.
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Macy's suspends quarterly dividend, withdraws 2020 forecast

Reuters Business News - Fri, 03/20/2020 - 17:58
Macy's Inc said on Friday it would suspend its quarterly dividend and withdrew its 2020 sales and profit forecasts due to ongoing disruptions from store closures on the back of the fast-spreading coronavirus.
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Oil falls for fourth week; U.S. crude posts steepest weekly loss since 1991

Reuters Business News - Fri, 03/20/2020 - 17:50
U.S. crude tumbled 10.7% on Friday and posted its biggest weekly decline since the 1991 Gulf War as the coronavirus epidemic dried up global demand and as officials in Washington said an envoy would head to Saudi Arabia to deal with fallout of a Saudi-Russia oil price war.
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New York order spooks Wall Street, offsets calm from policy efforts

Reuters Business News - Fri, 03/20/2020 - 17:43
Wall Street retreated on Friday after New York ordered residents to stay home, rattling investors who had welcomed this week's fiscal and monetary measures to counter the coronavirus shock and help revive the safe-haven appeal of bonds and gold.
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Stretched British supermarkets step-up hiring to ride out health crisis

Reuters Business News - Fri, 03/20/2020 - 11:58
With food flying off the shelves as fast as exhausted shop assistants can replenish them, British supermarkets have stepped up their hiring to see them through the coronavirus crisis.
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