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March 28, 2020
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ECB tells euro zone banks to skip payouts as virus hits economy

Reuters
LONDON/FRANKFURT (Reuters) – The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic. FILE PHOTO: The skyline with its financial district is......
Reuters - Business

Qantas shares soar on financing deal as rivals cut more capacity

Reuters
SYDNEY (Reuters) – Qantas Airways Ltd (QAN.AX) on Wednesday secured A$1.05 billion ($627.8 million) against its aircraft fleet to help it ride out the coronavirus crisis, sending shares up 30%, as airlines in the Asia-Pacific region sliced away capacity and jobs. FILE PHOTO: Qantas airline’s first Boeing 787 Dreamliner aircraft......
Reuters - Business

U.S. lawmakers nearing deal for $32 billion aviation sector bailout

Reuters
FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford/File Photo WASHINGTON/CHICAGO (Reuters) – U.S. lawmakers are nearing agreement on a......
Reuters - Business

U.S. new home sales fall in February, January revised up sharply

Reuters
WASHINGTON (Reuters) – Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic which is boosting unemployment and severely disrupting economic activity. FILE PHOTO: Construction workers build a single family home in San Diego, California, U.S.......
Reuters - Business

Airbus adds 15 billion euro credit line, scraps dividend

Reuters
PARIS (Reuters) – Airbus (AIR.PA) boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet. FILE PHOTO: An Airbus A330neo on its final assembly line......
Reuters - Business

Airbus signs credit facility for 15 billion euros, withdraws 2020 guidance

Reuters
FILE PHOTO: An Airbus A330neo on its final assembly line at Airbus headquarters in Colomiers, near Toulouse, France, November 26, 2018. REUTERS/Regis Duvignau/File Photo PARIS (Reuters) – Planemaker Airbus (AIR.PA) announced new steps on Monday to bolster its financial position as a coronavirus pandemic cripples the travel industry, including the......
Reuters - Business

Bank of America boosts hiring, worker pay amid coronavirus outbreak

Reuters
(Reuters) – Bank of America Corp’s consumer division has hired 1,700 people in critical support roles so far this month, a spokesman said on Friday, as the industry faces a surge in customer service demand due to concerns about the coronavirus outbreak. FILE PHOTO: A Bank of America logo is......
Reuters - Business

Under water? Banks play home loan lottery as insurers bail out

Reuters
SYDNEY/LONDON (Reuters) – Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. FILE PHOTO: Soldiers sit on a beach amongst burnt trees where people had previously taken shelter......
Reuters - Business

Factbox: Aramco 2019 profit drops, a week after shares fell below IPO

Reuters
DUBAI (Reuters) – Saudi Arabia’s state-run oil giant Saudi Aramco (2222.SE) announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts’ expectations just three months after selling shares to the public in a record-setting IPO. The decision last year to float shares in the......
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Aramco to cut capital spending over coronavirus; 2019 profits plunge

Reuters
DUBAI (Reuters) – Saudi Aramco 2222.SE on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company. FILE PHOTO: A view shows branded oil......
Reuters - Business

As Wall Street reels, veterans recall ’87 while the young look to textbooks

Reuters
(Reuters) – As U.S. financial markets reel from a week of historic swings, industry veterans are drawing on memories from their earliest years on Wall Street, while younger professionals are looking to lessons from history books. Following an 11-year bull market, many investors have never experienced a market selloff as......
Reuters - Business

Exclusive: Blackstone in talks to take developer SOHO China private in $4 billion deal – sources

Reuters
HONG KONG (Reuters) – Blackstone Group Inc is in exclusive talks to take SOHO China Ltd private in a $4 billion deal, said two sources, in one of its biggest bets yet on the Chinese market and which sent the target’s shares to a 21-month high. FILE PHOTO: The ticker......
Reuters - Business

Business picks up pace in China, but global virus spread may slow recovery

Reuters
BEIJING/SINGAPORE (Reuters) – China’s business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country’s broader economic resumption. Commuters wearing face masks are seen in a subway as the country is hit by an outbreak......
Reuters - Business

Tesco to return $6.6 billion to shareholders after sale of Thai, Malaysia assets

Reuters
LONDON (Reuters) – Britain’s Tesco (TSCO.L) plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of $10.6 billion. A view of the entrance to a Tesco Lotus retail shop in Bangkok, Thailand, January......
Reuters - Business

Amazon launches business selling automated checkout to retailers

Reuters
(Reuters) – Amazon.com Inc (AMZN.O) on Monday is set to announce a new business line selling the technology behind its cashier-less convenience stores to other retailers, the company told Reuters. File Photo: Amazon employees are pictured outside the Amazon Go brick-and-mortar grocery store without lines or checkout counters, in Seattle......
Reuters - Business

Take Five: Credit crunch at time of rock-bottom rates?

Reuters
(Reuters) – 1)CROSSING OVER? FILE PHOTO: The European Central Bank (ECB) logo is pictured before a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski Is it possible we may see a wave of corporate defaults at a time......
Reuters - Business

Oil drops on demand doubts, fears that producer output cuts not yet agreed

Reuters
SINGAPORE (Reuters) – Oil slid 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices. FILE PHOTO: Oil pump jacks work at sunset......
Reuters - Business

Keep calm and work from home during coronavirus, European banks tell workers

Reuters
(Reuters) – Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak. FILE PHOTO: A pedestrian walks past skyscrapers in the financial district in London, Britain February 17, 2020.......
Reuters - Business

GE sticks to 2020 targets, says coronavirus to hit cashflow by up to $500 million

Reuters
FILE PHOTO: A traffic light is seen in front of a logo of General Electric at the company’s plant in Birr, Switzerland June 17, 2019. REUTERS/Arnd Wiegmann/File Photo (Reuters) – General Electric Co (GE.N) on Wednesday reiterated its 2020 cash and profit targets but warned its first-quarter cash flow would......
Reuters - Business

GE to take up to $500 million cashflow hit from virus, sticks to targets

Reuters
FILE PHOTO: A traffic light is seen in front of a logo of General Electric at the company’s plant in Birr, Switzerland June 17, 2019. REUTERS/Arnd Wiegmann/File Photo (Reuters) – General Electric Co (GE.N) said on Wednesday it would take a hit of $300 million to $500 million to its......

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