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February 28, 2020

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ECB’s Weidmann: No need for immediate monetary policy action due to coronavirus

Reuters
by Reuters01
FILE PHOTO: German Bundesbank President Jens Weidmann attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – There is no need to take immediate monetary policy action due to the coronavirus outbreak, the European Central Bank’s......
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Hyundai Motor halts work at factory after worker tests positive for coronavirus

Reuters
by Reuters06
SEOUL (Reuters) – Hyundai Motor (005380.KS) shut down a factory in South Korea on Friday after a worker tested positive for the new coronavirus, disrupting production of popular models such as Palisade sport utility vehicle. Shares of the automaker ended down more than 5% after the news, while the wider......
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Chinese maker of ‘Amazon coat’ weathers coronavirus impact with tax breaks, rent waivers

Reuters
by Reuters03
BEIJING/SHANGAHI (Reuters) – Orolay, the maker of the ‘Amazon coat’ that became a darling of U.S. fashion and social media a year ago, knows it is luckier than most Chinese small businesses trying to get back on their feet amid huge disruptions caused by the coronavirus epidemic. FILE PHOTO: Founder......
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EasyJet to cancel flights as coronavirus hits demand

Reuters
by Reuters04
LONDON (Reuters) – British budget airline easyJet (EZJ.L) said on Friday it would cancel flights and cut costs across its business after the coronavirus outbreak hit demand for travel to Italy and other European markets. FILE PHOTO: An Easyjet plane takes off from Manchester Airport in Manchester, Britain, January 20,......
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Texas prosecutors accuse Arkema, executives of failures over chemical fire

Reuters
by Reuters05
HOUSTON (Reuters) – Jurors in the criminal case against the U.S. arm of a French company on Thursday heard it routinely stored combustible chemicals where floodwaters could reach them and failed to alert emergency workers as toxic fires erupted. FILE PHOTO: A fire burns at the flooded plant of French......
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Investment advisors worry U.S. response to coronavirus is too little too late

Reuters
by Reuters03
NEW YORK (Reuters) – Investment-advisors are increasingly worried that U.S. authorities are not be doing enough to prevent a widespread outbreak of coronavirus in the country, potentially adding further downside to already-battered markets.  FILE PHOTO: A woman wearing a mask to prevent the coronavirus is reflected in the mirrors, in......
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Mylan quarterly profit beats estimates

Reuters
by Reuters02
FILE PHOTO: Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured in Merignac near Bordeaux, France, September 19, 2019. REUTERS/Regis Duvignau (Reuters) – Drugmaker Mylan NV (MYL.O) reported a fourth-quarter profit on Thursday that beat estimates, helped by sales of new products such......
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Facebook, Microsoft shelve conference plans as coronavirus fears spread

Reuters
by Reuters05
FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Facebook Inc said on Thursday it would cancel its annual developer conference due to fears over the coronavirus outbreak and Microsoft Corp followed suit by withdrawing from a......
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Starbucks’ CEO says 85% of stores in China are open

Reuters
by Reuters011
FILE PHOTO: Starbucks CEO Kevin Johnson speaks at a news conference in Shanghai, China August 2, 2018. REUTERS/Aly Song (Reuters) – Starbucks Corp (SBUX.O) said on Thursday 85% of its stores in China were open, weeks after the coffee chain shut nearly half of its over 4,000 stores in the......
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Cargill bans international travel for staff amid coronavirus outbreak

Reuters
by Reuters07
FILE PHOTO: A Cargill logo is pictured on a truck transporting Provimi Kliba and Protector animal nutrition products near the factory in Lucens, Switzerland, September 22, 2016. REUTERS/Denis Balibouse (Reuters) – International grains trader and processor Cargill Inc has banned all non-essential travel for its employees for the next two......
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WPP shares slump to lowest since 2012 as sales slide

Reuters
by Reuters05
LONDON (Reuters) – WPP (WPP.L) shares plunged to their lowest level in nearly eight years on Thursday after a sharp slowdown in fourth-quarter trading derailed the latest recovery attempt at the world’s biggest advertising company. FILE PHOTO: Mark Read, CEO of WPP Group, the largest global advertising and public relations......
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China’s top container ports unclog backlog as virus curbs ease

Reuters
by Reuters03
BEIJING (Reuters) – China’s top container ports are loosening the backlog of cargoes on their docks as workers return to their posts after coronavirus travel curbs that kept them away and jammed up global supply chains have been eased. A foreman wearing a face mask works as a cargo ship......
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Thai tycoons in fray as Tesco sets bid deadline for $9 billion Asia business: sources

Reuters
by Reuters05
SINGAPORE (Reuters) – British retailer Tesco (TSCO.L) has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to $9 billion, sources with direct knowledge of the matter said. FILE PHOTO: FILE PHOTO:......
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Microsoft expects Windows unit to miss revenue outlook on coronavirus impact

Reuters
by Reuters04
FILE PHOTO: A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson (Reuters) – Microsoft Inc said on Wednesday it does not expect to meet the third-quarter revenue forecast for its ‘more personal computing’ business, as a result of the coronavirus outbreak, sending its shares......
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Microsoft expects unit to miss revenue outlook on coronavirus impact

Reuters
by Reuters02
FILE PHOTO: A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson (Reuters) – Microsoft Inc said on Wednesday it does not expect to meet the third-quarter revenue forecast for its ‘more personal computing’ business, as a result of the coronavirus outbreak. The company said......
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Nestle asks staff to stop international travel amid coronavirus epidemic

Reuters
by Reuters07
FILE PHOTO: A Nestle logo in Lausanne, Switzerland April 11, 2019. REUTERS/Denis Balibouse/File Photo (Reuters) – Nestle SA (NESN.S) has asked its staff to halt international travel for business purposes through March 15 as a precautionary measure amid the rapid spread of the coronavirus globally, the Swiss company said on......
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Delta Air waives travel change fees for South Korea as coronavirus spreads

Reuters
by Reuters05
FILE PHOTO: Delta Airlines jets sit at terminal at Reagan National Airport outside Washington in this August 19, 2004 file photo. REUTERS/Larry Downing/File Photo (Reuters) – Delta Air Lines Inc (DAL.N) said on Wednesday it has expanded its travel change fee waiver to include Seoul, South Korea, through April 30,......
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European Commission says too early to assess coronavirus impact on EU economy

Reuters
by Reuters05
European Economic Commissioner Paolo Gentiloni attends a news conference on public finances in EU states at European Union Commission headquarters in Brussels, Belgium February 26, 2020. REUTERS/Francois Lenoir BRUSSELS (Reuters) – It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the......
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Toyota says Japan plants may be affected by virus-related supply issues

Reuters
by Reuters07
A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su TOKYO (Reuters) – Toyota Motor Corp (7203.T) on Wednesday said that operations at its plants in Japan may be affected by supply chain issues linked to the new coronavirus outbreak......
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Coronavirus fears pull U.S. chip index into a correction

Reuters
by Reuters04
SAN FRANCISCO (Reuters) – Wall Street’s main semiconductor benchmark tumbled into correction territory on Tuesday in its deepest four-day rout since the financial crisis, as the coronavirus spread further around the world and deepened fears about the global economy. The Philadelphia Semiconductor Index .SOX dropped 3.2%, bringing the decline from......
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