U.S. finalizes minimum service rules for airlines receiving assistance

WASHINGTON (Reuters) – The U.S. Transportation Department on Tuesday issued final rules setting minimum service requirements for passenger airlines receiving government financial assistance. The department said where multiple airports serve the same point, carriers do not need to maintain service to all of them but can serve just a single airport saying it “would impose undue costs on covered carriers.” […]

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Futures surge on early signs of coronavirus slowdown in hot spots

(Reuters) – U.S. stock index futures bounced for a second straight day on Tuesday as risk appetite returned on tentative signs the coronavirus outbreak was starting to plateau in hard-hit U.S. states. All three major indexes rallied more than 7% on Monday after the governors of New York and New Jersey said their states, hot spots of the COVID-19 disease, […]

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China's big developers shrug off short-term virus impact to splurge on land

HONG KONG (REUTERS) – China’s top developers are prising open their war chests to snap up land this year as local governments sell more prime real estate to boost revenues and smaller, distressed property firms look to offload assets as the coronavirus takes a toll. Many of the country’s major property companies said at recent earnings conferences that they planned […]

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Hit by coronavirus, Fiat Chrysler, Peugeot seek to boost cash before merger consummation

LONDON/MILAN/PARIS (Reuters) – With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler (FCHA.MI) and Peugeot’s owner PSA (PEUP.PA) have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger. The two car makers have turned to their banks to secure much needed cash, and Fiat Chrysler (FCA) is looking […]

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Wall Street opens higher on coronavirus slowdown hopes

(Reuters) – U.S. stocks opened higher on Monday, after President Donald Trump expressed hope that the coronavirus health crisis was “leveling-off” in some of the hardest-hit U.S. states. The Dow Jones Industrial Average .DJI rose 641.10 points, or 3.05%, at the open to 21,693.63. The S&P 500 .SPX opened higher by 89.63 points, or 3.60%, at 2,578.28. The Nasdaq Composite […]

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Rolls-Royce to ditch targets and suspend dividend due to coronavirus: FT

(Reuters) – British aero-engine maker Rolls-Royce (RR.L) will abandon its targets on profits, cash and deliveries, and suspend its dividend, as airlines around the world ground planes due to the coronavirus outbreak, the Financial Times reported late on Sunday. Rolls-Royce is also aiming to announce new credit facilities in excess of 1 billion pounds ($1.22 billion) to bolster liquidity, the […]

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Oil skids on oversupply fears, U.S. stock futures jump

SYDNEY (Reuters) – Oil prices skidded on Monday after Saudi-Russian output discussions showed no immediate signs of progress while U.S. stock futures jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. Sterling GBP= fell after British Prime Minister was admitted to hospital following persistent coronavirus symptoms as the pandemic rapidly spreads. Brent crude LCOc1 fell […]

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How the coronavirus job cuts played out by sector and demographics

(Reuters) – The job losses suffered in March as the U.S. economy shut down in the face of the novel coronavirus pandemic were widespread but still were disproportionately felt in a handful of employment sectors and by women, the young and the less educated. In all, 701,000 jobs were reported lost last month, the Labor Department said on Friday, but […]

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