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S&P 500, Dow retreat as focus turns to Fed; Nasdaq hits fresh high

Reuters Business News - Wed, 06/10/2020 - 12:29
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks countered a boost from the technology sector, with focus now shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.
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J&J moves up start of coronavirus vaccine human trials to July

Reuters Business News - Wed, 06/10/2020 - 12:19
Johnson & Johnson moved up the start of human clinical trials for its experimental vaccine against the highly contagious coronavirus by two months to the second half of July, as the drugmaker rushes to develop a prevention for COVID-19, the company said on Wednesday.
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Mnuchin says U.S. recovery has begun, will gain strength in Q3, Q4

Reuters Business News - Wed, 06/10/2020 - 12:11
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would "improve dramatically" in the third and fourth quarters.
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OECD sees deepest peace-time slump in a century

Reuters Business News - Wed, 06/10/2020 - 11:40
The global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday.
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A casino or stock market? Retail buying frenzy goes wild

Reuters Business News - Wed, 06/10/2020 - 11:32
A raft of small cap stocks has soared by hundreds of millions of dollars in value in recent weeks as frenzied retail traders piled in to a blistering stocks rally.
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Delta expects second-quarter revenue to slump, looks to amend debt deals

Reuters Business News - Wed, 06/10/2020 - 11:31
U.S. carrier Delta Air Lines on Wednesday forecast a 90% plunge in second-quarter revenue and warned it would need to renegotiate its debt agreements to avoid a default next year.
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Global risk rally has a powerful ally: the weaker dollar

Reuters Business News - Wed, 06/10/2020 - 11:29
Investors are betting a weaker U.S. dollar will further boost a rally that has seen stocks, emerging market currencies and other risky assets soar in recent weeks.
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S&P 500, Dow retreat ahead of Fed outlook; Nasdaq hits new high

Reuters Business News - Wed, 06/10/2020 - 11:16
The S&P 500 and Dow slipped on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.
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Just Eat Takeaway in advanced talks to buy Grubhub

Reuters Business News - Wed, 06/10/2020 - 11:13
European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal that, if completed, would create the world's largest food delivery company by revenue.
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Goldman Sachs forms fund to address racial injustice

Reuters Business News - Wed, 06/10/2020 - 11:11
Goldman Sachs Group Inc said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity.
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Boeing aims to conduct key 737 MAX certification flight in late June: sources

Reuters Business News - Wed, 06/10/2020 - 11:10
Boeing Co is aiming to conduct a key certification test flight on its grounded 737 MAX in late June, two people briefed on the matter said.
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Number of U.S. air passengers fell 96% in April to historic low: government

Reuters Business News - Wed, 06/10/2020 - 11:08
U.S. airlines carried 3 million passengers in April, a staggering 96% decline from April 2019 amid the coronavirus pandemic and flight restrictions, the Transportation Department said on Wednesday.
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UK watchdog extends deadline for final ruling on Amazon's Deliveroo deal

Reuters Business News - Wed, 06/10/2020 - 11:07
Britain's competition regulator has given itself two more months to make a final ruling on Amazon's purchase of a minority stake in online delivery group Deliveroo so it can take full account of representations from all interested parties.
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J&J to begin human trials of COVID-19 vaccine in second half of July

Reuters Business News - Wed, 06/10/2020 - 10:51
Johnson & Johnson said on Wednesday it would bring forward by two months human trials of its potential COVID-19 vaccine to the second half of July, as the drugmaker rushes to develop a shot for the contagious respiratory disease.
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With crisis response in place, Fed focuses on long term

Reuters Business News - Wed, 06/10/2020 - 10:44
The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.
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Walmart's Mexico business set to absorb two internal units

Reuters Business News - Wed, 06/10/2020 - 10:37
The Mexican unit of U.S. retailer Walmart said on Wednesday a shareholder meeting would discuss the absorption of two internal units, Holding de Restaurantes y Servicios and Tiendas Wal-Mart.
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U.S. air passengers fell 96% in April to historic low: government

Reuters Business News - Wed, 06/10/2020 - 10:34
U.S. airlines carried 3 million passengers in April, a staggering 96% decline amid the coronavirus pandemic and flight restrictions, the Transportation Department said Wednesday.
Categories: Reuters

Emirates airline redundancies continue for second day, sources say

Reuters Business News - Wed, 06/10/2020 - 10:32
Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world's biggest long-haul airlines, three company sources said.
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Dollar slips, stocks fall ahead of Fed meeting

Reuters Business News - Wed, 06/10/2020 - 10:23
The dollar slid to a three-month low and a gauge of global equities edged lower on Wednesday as investors awaited news at the end of a two-day meeting of the Federal Reserve and its plans to strengthen a nascent U.S. economic recovery.
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S&P 500, Dow slip ahead of Fed outlook; Nasdaq scales fresh high

Reuters Business News - Wed, 06/10/2020 - 09:53
The S&P 500 and Dow eased on Wednesday, as losses in financial stocks outweighed a boost from technology, with focus shifting to the Federal Reserve's first projections on the economy since the coronavirus outbreak.
Categories: Reuters
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