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Oil falls a third day, Brent crude set for worst week since 1991
Oil prices fell on Friday for a third day, with Brent crude set for its biggest weekly drop since 1991 and U.S. crude heading for the worst week since 2008 as panic about plunging demand from the coronavirus outbreak grips the market.
Categories: Reuters
U.S. excludes some Chinese medical products from tariffs
The U.S. Trade Representative's office said it granted on Thursday exclusions from import tariffs for some medical products imported from China, including face masks, stethoscope covers and blood pressure cuff sleeves.
Categories: Reuters
Juul co-founder James Monsees plans to leave
Juul Labs Inc said on Thursday co-founder James Monsees plans to leave the e-cigarette maker, stepping down as an adviser and board member.
Categories: Reuters
Dollar shines as pandemic drives rush for liquid assets
The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.
Categories: Reuters
Washington state repeals pro-Boeing tax break; U.S. hopes to avoid EU tariffs
Washington state on Thursday moved to formally repeal an aerospace tax break that benefited U.S. planemaker Boeing and avert looming European Union tariffs on U.S. goods.
Categories: Reuters
Airbus: End of Washington state tax break of Boeing just 'initial step'
Europe's Airbus on Thursday welcomed a move by Washington state to remove what it called "illegal subsidies" to Boeing, but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks.
Categories: Reuters
Global airlines call for government aid and United warns of cuts to U.S. routes
Airlines on Thursday appealed for urgent government financial support as U.S. carriers rushed to cut flights to Europe in the wake of new U.S. travel restrictions aimed at combating the coronavirus outbreak, while United Airlines warned of U.S. travel disruption as the virus spreads domestically.
Categories: Reuters
U.S. airlines capping fares from Europe as Americans seek flights home
American Airlines Inc , United Airlines and Delta Air Lines Inc on Thursday said they were capping fares for U.S.-bound flights from Europe as U.S. citizens flock to European airports trying to return home after new air travel restrictions ordered by U.S. President Donald Trump.
Categories: Reuters
World markets rout deepens as virus panic worsens
Asia's stock markets were hammered on Friday as panic gripping world financial markets deepened and even safe-haven assets such as gold and bonds were ditched to cover losses in the wipeout.
Categories: Reuters
Ford takes aim at Jeep with new Bronco SUVs
Nearly 55 years after the debut of the original Ford Bronco — and 24 years after the demise of the last one — Ford Motor Co. is dusting off one of its treasured nameplates this spring in hopes of reviving a decades-old rivalry with Fiat Chrysler Automobile’s popular Jeep brand.
Categories: Reuters
Canada revising deal aimed at validating U.S.-certified planes
Transport Canada said on Thursday it is revising a deal that would have reduced technical work done by the Canadian regulator when validating Federal Aviation Administration (FAA) certified aircraft like the Boeing 737 MAX.
Categories: Reuters
Wall Street dazed and confused after worst day since 1987
As trading ended on Thursday in Wall Street's worst day for three decades, shell-shocked investors had no idea how much further the market was likely to fall as the coronavirus pandemic spread fear of a global recession.
Categories: Reuters
Apple reopens all its branded stores in China
Apple Inc has reopened all 42 of its branded stores in China, more than a month after they were shut due to fears over the coronavirus outbreak, the iPhone maker's Chinese website showed on Friday.
Categories: Reuters
Asian markets braced for deeper rout as virus panic worsens
Asia's stocks were poised to plunge further on Friday as panic gripped world financial markets and even safe-haven assets such as gold were ditched to cover losses in the wipeout.
Categories: Reuters
Wall Street sell-off batters bitcoin, pounds palladium as investors go to cash
Crushing asset sell-offs ranging from bitcoin to precious metals and European stocks accompanied Wall Street's slide into bear market territory on Thursday, as investors liquidated positions across their portfolios to raise cash.
Categories: Reuters
Walgreens, Kroger limit purchase of some essential products amid virus outbreak
Pharmacy chain Walgreens Boots Alliance Inc and supermarket chain Kroger Co on Thursday placed purchase limits on certain products to stabilize inventory, as customers stock up on essentials amid a global coronavirus outbreak.
Categories: Reuters
Gap sees 2020 profit above estimates, flags $100 mln virus hit to sales
Gap Inc leaned on its turnaround plan to forecast 2020 profit above market expectations on Thursday, but flagged a $100 million sales hit in Asia and Europe from the coronavirus, which has also started impacting its home market.
Categories: Reuters
Business jet operators see demand surge on U.S. travel restrictions, coronavirus
New U.S. restrictions on Europeans entering the United States are fueling additional bookings for business jet flights, which were already in higher demand this year because of coronavirus, executives said on Thursday.
Categories: Reuters
Broadcom withdraws 2020 revenue forecast on coronavirus worries
Broadcom Inc withdrew its revenue forecast for 2020 on Thursday, joining a host of chipmakers that have either cut or pulled their sales outlook due to demand and supply disruptions caused by the coronavirus outbreak.
Categories: Reuters
Plunging Wall Street stocks end record bull run
Wall Street tanked on Thursday, slamming the book on the longest-ever U.S. bull market after new travel restrictions to curb the coronavirus spread spooked investors and rattled world markets.
Categories: Reuters