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Reuters Business
Apr 10, 2020

3M sues distributor for alleged price gouging of N95 respirators in New York
3M Co said it filed a lawsuit against Performance Supply LLC on Friday, alleging that the New Jersey-based company had posed as an authorized vendor of 3M-branded N95 respirators and offered millions of them for sale to New York City officials at prices as much as 600% over the list price.

Reuters Business
Apr 10, 2020

Saudi, Russia work oil cut deal in G20 talks, seek U.S. participation
Top oil nations were finalising a deal at G20 talks on Friday for big output cuts to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking a lion's share and signs the United States might take unprecedented moves to help.

Reuters Business
Apr 10, 2020

Crisis blocks Airbus plan for new A321 jet plant in France
Airbus has shelved plans to add a French assembly line for its A321neo just 10 weeks after the expansion was launched, as the coronavirus fallout spreads to its best-selling jetliner.

Reuters Business
Apr 10, 2020

G20 ministers to propose task force on next steps to help oil market: India
G20 energy ministers in their joint statement will propose setting up a task force to advise ministers on the steps needed to stabilise the oil markets amid the coronavirus pandemic, India's oil ministry said in a statement on Friday.

Reuters Business
Apr 10, 2020

Kremlin: Putin and Trump discuss OPEC oil cuts deal
Russian President Vladimir Putin and U.S. President Donald Trump, in a phone call on Friday, discussed a potential global deal on oil production cuts by the group known as OPEC , the Kremlin said.

Reuters Business
Apr 10, 2020

Trump, Putin discuss coronavirus, global energy markets: White House
U.S. President Donald Trump spoke with Russian counterpart Vladimir Putin on Friday about the coronavirus and energy markets, the White House said.

Reuters Business
Apr 10, 2020

Mexico says U.S. to help it make oil cuts aimed at global reduction
The United States agreed on Thursday to make 250,000 barrels per day in additional cuts to oil output to help Mexico contribute to global reductions, Mexican President Andres Manuel Lopez Obrador said on Friday.

Reuters Business
Apr 10, 2020

Exclusive: Coronavirus-hit airlines in push for divisive route subsidies
Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds.

Reuters Business
Apr 10, 2020

Turkey held talks with U.S. on possible Fed swap line: Turkish officials
Turkey has held talks with the United States about possibly securing a swap line from the U.S. Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday.

Reuters Business
Apr 10, 2020

U.S. consumer prices record largest drop in five years
U.S. consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain.

Reuters Business
Apr 10, 2020

U.S. Energy Secretary tells G20 all nations should help reduce oil surplus
U.S. Energy Secretary Dan Brouillette on Friday described a dire situation in global energy markets, saying that the coronavirus pandemic and massive oil surplus have created a lethal combination.

Reuters Business
Apr 10, 2020

Congratulations, it's a fudge: EU crisis deal leaves much unresolved
EU finance ministers gave themselves a round of applause as they wrapped up talks on Thursday night with agreement on a package of measures worth half a trillion euros to cushion the blow of the coronavirus pandemic.

Reuters Business
Apr 10, 2020

Exclusive: Italy's government set to reappoint Eni and Enel CEOs - source
The chief executives of Italy's top two energy groups Eni and Enel are on course to secure third terms next week when Rome decides on roles at key state-controlled companies, a senior government official said.

Reuters Business
Apr 10, 2020

Coronavirus-hit airlines in push for divisive route subsidies
Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds.

Reuters Business
Apr 10, 2020

Turkey held talks with U.S. over possible Fed swap line: Turkish officials
Turkey has held talks with the United States about possibly securing a swap line from the Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday.

Reuters Business
Apr 10, 2020

Russia calls on G20 to join efforts with OPEC on oil market
Russian Energy Minister Alexander Novak called on the G20 group of the world's largest economies on Friday to join the efforts of the group of leading oil producers, known as the OPEC , to stabilize energy markets.

Reuters Business
Apr 10, 2020

Kremlin says 'work' on Mexico joining oil cuts under way
The Kremlin said on Friday that "work" to persuade Mexico to join efforts to curb oil production was under way a day after marathon talks among producers produced a deal on cutting out conditional on Mexico's participation.

Reuters Business
Apr 10, 2020

Trump: 'Have to save the airlines!'
U.S. President Donald Trump said on Friday that American airlines must be saved, as his administration prepares to give them details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak.

Reuters Business
Apr 10, 2020

Saudi energy minister calls for affordable energy supply at G20 meeting
The Saudi energy minister told a conference of the G20 group of the world's largest economies on Friday that ensuring affordable energy supply is key to facilitating a global economic recovery.

Reuters Business
Apr 10, 2020

Saudi, Russia seek to finalise oil cuts in G20 talks, want U.S. involved
Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%.

Reuters Business
Apr 10, 2020

Russia's Putin to hold new talks on oil - TASS
Russian President Vladimir Putin said on Friday he was planning to hold new talks on oil prices after phone calls with U.S. President Donald Trump and the leadership of Saudi Arabia, TASS news agency reported.

Reuters Business
Apr 10, 2020

Trump says he is speeding help to farmers hurt by coronavirus dislocation
U.S. President Donald Trump said on Thursday he has directed his agriculture secretary to expedite help to farmers, especially small farmers, hurt by the economic disruption caused by the new coronavirus outbreak.

Reuters Business
Apr 10, 2020

Global oil output cuts held hostage to standoff
Oil producers in the OPEC group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts.

Reuters Business
Apr 10, 2020

Nissan restructuring may assume cut of 1 million cars to annual sales target: sources
Nissan Motor Co Ltd's management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said.

Reuters Business
Apr 10, 2020

Airbus shelves plan to add new A321 assembly line
Airbus has shelved plans to create a new assembly line in Toulouse, France, for its A321 airliner as the company wrestles with the coronavirus crisis.

Reuters Business
Apr 10, 2020

Global oil output cuts held hostage to Mexican standoff
Oil producers in the OPEC group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts.

Reuters Business
Apr 10, 2020

Kering luxury goods billionaire Pinault agrees to pay cut
Fran├žois-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering , has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis.

Reuters Business
Apr 10, 2020

Renault chairman: could seek 4-5 billion euros worth of bank loans
Renault Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros ($4.4-$5.4 billion).

Reuters Business
Apr 10, 2020

Japan's battle with pandemic may mark end of Abe's fiscal experiment
The huge cost of the coronavirus pandemic is upending Japan's seven-year experiment to rescue the economy from its debt timebomb, as recession fears prompt calls for "helicopter money" - unlimited spending bankrolled by the central bank.

Reuters Business
Apr 10, 2020

Tesla expands locally made line-up, blunting trade war impact
U.S. electric vehicle maker Tesla Inc said on Friday it has started China sales of two more Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax.

Reuters Business
Apr 10, 2020

Saudi energy minister says OPEC oil pact hinges on Mexico joining
Saudi Arabia's energy minister said on Friday that a final OPEC oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.

Reuters Business
Apr 10, 2020

Kremlin says Putin, Trump, Saudi king seek to stabilise oil trade
Russian President Vladimir Putin, U.S. President Donald Trump and Saudi Arabia's King Salman, discussed the OPEC oil group meeting in a phone call on Friday and confirmed their aim was to stabilise the global oil trade, the Kremlin said.

Reuters Business
Apr 10, 2020

Saudi energy minister says OPEC oil pact 'hinges on' Mexico joining
Saudi Arabia's energy minister said on Friday that a final OPEC oil supply pact to reduce 10 million barrels per day, which was agreed on Thursday, "hinges on" Mexico joining in the cuts.

Reuters Business
Apr 10, 2020

High U.S. unemployment, 2.5 million jobs lost through 2021: survey
After a widely expected and sharp drop in the U.S. economy over the next three months, a panel of top business economists sees high joblessness persisting for more than a year in an outcome that would douse hopes for a quick, post-pandemic return to normal.

Reuters Business
Apr 09, 2020

Boeing considers potential 10% cut to workforce: WSJ
Boeing Co is considering a plan to cut its workforce by about 10%, which could involve buyouts, early retirements and involuntary layoffs, the Wall Street Journal reported on Thursday.

Reuters Business
Apr 09, 2020

Saudi king, Trump, Putin review importance of cooperation between oil producing countries
Saudi Arabia's King Salman, U.S. President Donald Trump and Russian President Vladimir Putin reviewed, in a phone call, the importance of cooperation between oil producing countries, after Thursday's OPEC meeting, Saudi state news agency SPA reported.

Reuters Business
Apr 09, 2020

Saudi, Russia outline record oil cut under U.S. pressure as demand crashes
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.

Reuters Business
Apr 09, 2020

Mexico proposes 100,000 bpd oil output cut at OPEC meeting
In a meeting with OPEC and its allies, Mexico proposed reducing its oil output by 100,000 barrels per day (bpd) in the next two months, Energy Minister Rocio Nahle said on Thursday.

Reuters Business
Apr 09, 2020

OPEC outlines oil cut deal, but Mexico holds up final agreement: sources
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.

Reuters Business
Apr 09, 2020

Trump says he had good call with Russia's Putin, Saudi king on oil
U.S. President Donald Trump said on Thursday he had a good conversation with Russian President Vladimir Putin and Saudi Arabia's King Salman and expected that OPEC and other countries would be announcing a deal soon.

Reuters Business
Apr 09, 2020

Delta says 35,000 workers taking up voluntary unpaid leaves, still seeking more
Delta Air Lines Inc Chief Executive Ed Bastian said on Thursday that nearly 35,000 workers had volunteered so far for voluntary unpaid leaves of absence the company is offering in an attempt to stem costs because of the coronavirus crisis.

Reuters Business
Apr 09, 2020

Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11
Volkswagen AG said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.

Reuters Business
Apr 09, 2020

Trump says airlines could receive grant details this weekend; sources say around 275 applied
U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants.

Reuters Business
Apr 09, 2020

Oil sinks as market doubts OPEC supply cuts will be enough
Oil prices tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.

Reuters Business
Apr 09, 2020

U.S. Treasury chief to brief Trump on aviation aid review
U.S. Treasury Secretary Steve Mnuchin was due to brief President Donald Trump at the White House on Thursday about the government's review of requests for $32 billion in grants from passenger airlines, cargo carriers and airport contractors.

Reuters Business
Apr 09, 2020

Trump says administration likely to release details on airline aid this weekend
President Donald Trump said on Thursday his administration would be releasing details over the weekend about its program to help U.S. airlines hit hard by the coronavirus outbreak.

Reuters Business
Apr 09, 2020

Facebook must face renewed privacy lawsuit over user tracking
A federal appeals court on Thursday revived nationwide litigation accusing Facebook Inc of violating users' privacy rights by tracking their internet activity even after they logged out of the social media website.

Reuters Business
Apr 09, 2020

Saudi, Russia agree record oil cut under U.S. pressure as demand crashes
OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.

Reuters Business
Apr 09, 2020

Mnuchin, Kudlow say U.S. economy could open in May, defying experts
The Trump administration's top economic officials said on Thursday they believe the U.S. economy could start to reopen for normal business in May, despite health experts' emphasis on prolonged social distancing measures to defeat the coronavirus.

Reuters Business
Apr 09, 2020

Trump administration official says U.S. welcomes reports of OPEC oil cut deal
The United States welcomed on Thursday reports that OPEC and its allies agreed in principal to reduce oil production by 10 million barrels per day (bpd), a senior Trump administration official said on Thursday.

Reuters Business
Apr 09, 2020

Instant View: OPEC cuts will not be enough to halt oil collapse - analysts
OPEC and other major oil producers on Thursday said they would cut output by 10 million barrels per day for two months in the face of a huge fall in demand due to the coronavirus crisis.

Reuters Business
Apr 09, 2020

Caterpillar seeks fresh $3 billion loan to boost liquidity: source
Caterpillar Inc is in talks with banks for a fresh $3 billion nine-month revolving credit facility, a person familiar with the matter said on Thursday.

Reuters Business
Apr 09, 2020

Investors caution cement, steel firms on EU climate lobbying
Cement and steel companies are being warned by investors over their lobbying on planned European Union carbon costs, saying they are effectively asking to be compensated twice over.

Reuters Business
Apr 09, 2020

Global stock markets jump on Fed stimulus, oil pulls back from earlier surge
Global equity benchmarks moved higher on Thursday following signs of some success by governments and central banks which have taken additional steps to bolster their economies during the COVID-19 pandemic, while oil prices pulled back from an earlier surge.

Reuters Business
Apr 09, 2020

Wall Street rises on latest Fed rescue program
Wall Street closed out the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed another program designed to buoy local governments and businesses crushed by massive closures to stem the coronavirus outbreak.

Reuters Business
Apr 09, 2020

GM plans to extend shutdown of Brazil auto production by 60 days
General Motors Co plans to keep its Brazilian factories shut down for at least 60 more days due to the coronavirus crisis, the company said Thursday, as the final batch of unionized workers voted on the automaker's proposal.

Reuters Business
Apr 09, 2020

BlackRock CEO Larry Fink's pay fell 8.4% in 2019: filing
BlackRock Inc , the world's largest asset manager, cut total compensation for Chairman and Chief Executive Officer Larry Fink by 8.4% in 2019, a second straight year of decline, according to a filing on Thursday.

Reuters Business
Apr 09, 2020

Instant View: OPEC potential cuts won't be enough to halt oil collapse - analysts
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.

Reuters Business
Apr 09, 2020

Morgan Stanley CEO diagnosed with coronavirus in March, since recovered: bank video
Morgan Stanley Chief Executive Officer James Gorman was diagnosed as being infected by the novel coronavirus after first experiencing symptoms nearly a month ago and has fully recovered, according to a video that was sent to the bank's employees on Thursday.

Reuters Business
Apr 09, 2020

As fever checks become the norm in coronavirus era, demand for thermal cameras soars
The makers of specialized cameras to quickly scan for fevers as people enter crowded workplaces are grappling with soaring demand while confronting supply disruptions, forcing some to prioritize customers such as hospitals, executives told Reuters.

Reuters Business
Apr 09, 2020

As delivery workers emerge as frontline soldiers, India's government warms to e-commerce
Three days after India imposed a nationwide lockdown, Devender Singh revved up his motorcycle to deliver meat and eggs to customers - but his heart was in his mouth as he closed in on a police barricade on a deserted New Delhi road.

Reuters Business
Apr 09, 2020

Facebook sues Bangkok resident for selling fraudulent ad tools
Facebook Inc sued a Bangkok-based Indian man on Thursday for developing and marketing a software to bypass the social network's advertising review process and deliver prohibited ads to users.

Reuters Business
Apr 09, 2020

Oil slumps, investors say OPEC supply cuts won't be enough
Oil prices slumped on Thursday, giving back an earlier 10% surge as investors doubted the emerging supply-cut agreement between members of OPEC and its allies would adequately address the global fuel demand collapse caused by the coronavirus pandemic.

Reuters Business
Apr 09, 2020

Dollar drops after Fed launches new loan program, curbing safety bids
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.

Reuters Business
Apr 09, 2020

Caterpillar seeks $3 billion loan from banks to boost liquidity: Bloomberg
Caterpillar Inc is in talks with banks for a new $3 billion nine-month revolving credit facility, Bloomberg https://bloom.bg/34nIvAB reported on Thursday, citing people familiar with the matter.

Reuters Business
Apr 09, 2020

Volkswagen furloughs workers at Tennessee auto plant starting April 11
Volkswagen AG said it will furlough workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.

Reuters Business
Apr 09, 2020

Mnuchin says U.S. economy could open in May, defying experts
U.S. Treasury Secretary Steven Mnuchin said on Thursday that the American economy could start to reopen for business in May, despite experts' emphasis on prolonged social distancing measures to defeat the coronavirus.

Reuters Business
Apr 09, 2020

Fed, BoE push deeper into uncharted territory in face of coronavirus slump
The U.S. Federal Reserve and the Bank of England ramped up their emergency responses to the world's escalating coronavirus recession on Thursday as they pushed deeper into territory once considered fraught with risk for central bankers.

Reuters Business
Apr 09, 2020

Citigroup starts accepting paycheck protection program application
Citigroup Inc said on Thursday, that it has started accepting applications for the $349 billion small business bailout fund.

Reuters Business
Apr 09, 2020

Air France KLM says it needs government support to continue operations
Air France KLM said that despite cost-cutting measures to stave off the impact of the coronavirus crisis, it expects it will be short of cash in the third quarter, but said it was confident that the French and Dutch governments would support the group.

Reuters Business
Apr 09, 2020

A day in the life of an Amazon courier on the frontlines of the U.S. pandemic
Excelso Sabulao delivers groceries for Amazon.com Inc in California so he can help provide his parents an income. Now, with endless interactions at stores and at homes during a pandemic, he worries his work will kill them.

Reuters Business
Apr 09, 2020

BAT files patent suits against Philip Morris' IQOS products
British American Tobacco said on Thursday that it sued Philip Morris International Inc in the United States and Germany, alleging that the tobacco heating technology used in its bigger rival's IQOS devices infringed its patents.

Reuters Business
Apr 09, 2020

Oil gives up gains even as OPEC hammers out supply-cut deal
Oil prices dipped on Thursday, giving back an earlier 10% surge as investors awaited details on a massive OPEC supply-cut agreement in response to the global fuel demand collapse due to the coronavirus pandemic.

Reuters Business
Apr 09, 2020

EasyJet to defer delivery of 24 Airbus planes, hold shareholder meeting
British airline easyJet on Thursday said it would defer the delivery of 24 Airbus jets and hold a shareholder meeting after the airline's founder Stelios Haji-Ioannou stepped up a disagreement over the airline's expansion plans.

Reuters Business
Apr 09, 2020

Uber to give drivers millions of face masks to battle coronavirus
Uber Technologies Inc on Thursday said it plans to ship millions of face masks to its active drivers and food delivery people around the world to help prevent the spread of the novel coronavirus.

Reuters Business
Apr 09, 2020

U.S. jobless claims exceed six million for second week in a row
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.

Reuters Business
Apr 09, 2020

Airbus's landmark jet output cut faces crucial test
Airbus's decision to cut output of its best-selling jet by a third amid coronavirus marks a huge shift for the European planemaker, which has enjoyed virtually unbroken growth since it began competing toe-to-toe with Boeing almost 20 years ago.

Reuters Business
Apr 09, 2020

Explainer: Next from the Fed - Help for Main Street
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.

Reuters Business
Apr 09, 2020

Morgan Stanley CEO diagnosed with coronavirus in March, since recovered -bank video
Morgan Stanley Chief Executive Officer James Gorman was diagnosed as being infected by the novel coronavirus after first experiencing symptoms nearly a month ago and has fully recovered, according to a video that was sent to the bank's employees on Thursday.

Reuters Business
Apr 09, 2020

Saudi, Russia closing in on record oil cut deal
OPEC and it allies held talks on Thursday on record oil output curbs of 15 million to 20 million barrels per day (bpd), or 15% to 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.

Reuters Business
Apr 09, 2020

Wall Street rises on Fed's $2.3 trillion rescue plan
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak.

Reuters Business
Apr 09, 2020

Russia, Saudi Arabia overcome differences holding up big oil cut deal: Dmitriev
Russia and Saudi Arabia have overcome differences that had presented potential hurdles to a plan for major oil output cuts aimed at shoring up crude prices hammered by the coranavirus crisis, the head of Russia's wealth fund said on Thursday.

Reuters Business
Apr 09, 2020

Russia's Novak calls on all oil producers to join efforts
Russian Energy Minister Alexander Novak said on Thursday that all the leading global oil producers should join their efforts to tackle falling oil demand.

Reuters Business
Apr 09, 2020

OPEC works on two-year oil cut deal, implemented gradually: sources
OPEC and its allies, a group known as OPEC , are discussing plans to cut oil production for at least two years with reductions implemented gradually, two OPEC sources said on Thursday.

Reuters Business
Apr 09, 2020

Instant View: Even big OPEC cuts won't offset oil demand collapse: analysts
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.

Reuters Business
Apr 09, 2020

Pelosi pushes need for money for smallest U.S. businesses
U.S. House Speaker Nancy Pelosi said on Thursday the country's smallest businesses need to be protected against the ravages of the coronavirus outbreak and pushed for $60 billion to be allocated to those enterprises in the next funding allocation.

Reuters Business
Apr 09, 2020

Citigroup offers full-time positions to interns amid coronavirus crisis
Citigroup Inc said on Thursday it is offering full-time positions to its interns, but delaying the new class of summer intern program to July 6 amid the current coronavirus crisis.

Reuters Business
Apr 09, 2020

Wall Street rises on $2.3 trillion Fed backstop
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses, while energy stocks jumped on an expected cut in oil production.

Reuters Business
Apr 09, 2020

Saudi, Russia move closer to record oil cut deal: sources
OPEC and other oil nations held talks on Thursday on record production cuts of up to 20 million barrels per day, equivalent to about 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.

Reuters Business
Apr 09, 2020

UBS executives pledge $5 million of own cash to coronavirus fight
Top managers at UBS will each contribute the equivalent of three months' salary to fight the coronavirus, its chief executive Sergio Ermotti said on Thursday after the Swiss bank bowed to pressure to suspend its dividend.

Reuters Business
Apr 09, 2020

Oil prices soar as OPEC prepares to cut supplies
Oil prices jumped on Thursday after sources said Russia and Saudi Arabia have a new deal to cut oil output drastically in response to a collapse in global demand from the coronavirus.

Reuters Business
Apr 09, 2020

Fed chief Powell sees road to recovery, warns on 'false start'
The U.S. economy could be headed "fairly quickly" toward recovery if people stay home, government gets aid to businesses and households, and public health officials create a national plan to restart the economy, Federal Reserve Chair Jerome Powell said on Thursday.

Reuters Business
Apr 09, 2020

White House to announce economic coronavirus task force soon: senior administration official
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy going again when the time is right, a senior administration official said on Thursday.

Reuters Business
Apr 09, 2020

Fed rolls out $2.3 trillion to backstop 'Main Street,' local governments
The U.S. Federal Reserve on Thursday rolled out a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.

Reuters Business
Apr 09, 2020

Fed will continue to act 'forcefully, proactively and aggressively,' Powell says
The Federal Reserve will continue to use all the tools at its disposal until the U.S. economy begins to fully rebound from the harm caused by the novel coronavirus outbreak, Fed Chair Jerome Powell said on Thursday, even as he acknowledged the limits of the central bank's powers.

Reuters Business
Apr 09, 2020

Timeline: Fed's response - pandemic downturn vs financial crisis
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.

Reuters Business
Apr 09, 2020

RenCap removes line from Rosneft note saying 10 million bpd cut would rebalance markets
Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC of 10 million barrels per day (bpd) would be sufficient to balance markets.

Reuters Business
Apr 09, 2020

OPEC to debate oil cuts as big as 20 million bpd: sources
OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters.

Reuters Business
Apr 09, 2020

White House to announce economic coronavirus task force soon, senior administration official says
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy back going again when the time is right, a senior administration official said on Thursday.

Reuters Business
Apr 09, 2020

Dollar drops after Fed launches new loan program
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.

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