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March 28, 2020
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Ackman says Pershing Square no longer has hedges on stocks

Reuters
FILE PHOTO: Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian (Reuters) – William Ackman’s Pershing Square Capital Management no longer has hedges on its stock portfolio, but still has some......
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Trump tells GM: Stop ‘wasting time’, build ventilators to address coronavirus

Reuters
WASHINGTON/DETROIT (Reuters) – U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of “wasting time” during negotiations. Trump, who has been on the defensive for not moving faster to compel the......
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U.S. regulators give banks relief on accounting standard, derivatives rule

Reuters
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo WASHINGTON (Reuters) – U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive......
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Treasury: U.S. will be ‘compensated’ for assistance to airlines

Reuters
WASHINGTON (Reuters) – U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will “compensated” for providing up to $25 billion in direct grants to the airline industry. FILE PHOTO: Treasury Secretary Steve Mnuchin takes a phone call in the hall outside a meeting to wrap up work on coronavirus......
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U.S. airlines cheer government relief but warn it is no ‘cure’ for deep industry crisis

Reuters
CHICAGO (Reuters) – United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action. Delta Air Lines passenger planes are seen parked due to flight......
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U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives

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CHICAGO (Reuters) – U.S. airlines expect to learn the terms of federal aid meant to protect workers’ payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc (UAL.O) said on Friday. Under a relief bill......
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U.S. consumer sentiment near three-and-a-half year low, spending sluggish

Reuters
WASHINGTON (Reuters) – U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists’ expectations of a deep recession. The reports on Friday followed data on Thursday that showed the number of Americans......
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Exclusive: U.S. prepares crackdown on Huawei’s global chip supply – sources

Reuters
(Reuters) – Senior officials in the Trump administration agreed to new measures to restrict the global supply of chips to China’s Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus. FILE PHOTO: A Huawei company logo is pictured at the......
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UTC, Raytheon deal wins U.S. antitrust approval, with divestitures

Reuters
File Photo: A screen shows the logos and trading information for defense contractor Raytheon Co, and United Technologies Corp. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 17, 2019. REUTERS/Brendan McDermid WASHINGTON (Reuters) – The U.S. Justice Department has approved United Technologies Corporation’s......
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U.S. House leaders determined to pass $2.2 trillion coronavirus bill

Reuters
WASHINGTON (Reuters) – Leaders of the U.S. House of Representatives are determined to pass a $2.2 trillion coronavirus relief bill on Friday, or at the very latest on Saturday, hoping to provide the quickest help possible as deaths mount and the economy reels. On a call with fellow Democrats on......
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U.S. House sets Friday debate for coronavirus aid bill

Reuters
WASHINGTON (Reuters) – The U.S. House of Representatives will begin a two-hour debate on a sweeping, $2.2 trillion coronavirus aid bill at 9 a.m. (1300 GMT) on Friday but it was not clear whether the measure would be able to pass on a voice vote, the House Majority Leader’s office......
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Pelosi expects bipartisan House vote for $2 trillion coronavirus bill Friday

Reuters
WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi said she expected the chamber to pass an estimated $2.2 trillion coronavirus relief bill when it meets on Friday, after the Senate overwhelmingly approved the unprecedented economic rescue legislation Wednesday evening. “Tomorrow we’ll bring the bill to the floor. It will pass......
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Mnuchin says Americans to get coronavirus aid within three weeks

Reuters
U.S. Secretary of the Treasury Steven Mnuchin walks from a meeting during negotiations on a coronavirus disease (COVID-19) relief package on Capitol in Washington, U.S., March 23, 2020. REUTERS/Joshua Roberts WASHINGTON (Reuters) – Americans should receive cash payments within three weeks to help offset the financial hardships of the coronavirus......
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U.S. weekly jobless claims surge to record 3.28 million

Reuters
WASHINGTON (Reuters) – The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the......
Reuters - Business

U.S. Senate votes to grants struggling aviation sector big bailout

Reuters
WASHINGTON/CHICAGO (Reuters) – The U.S. Senate voted late Wednesday 96-0 to give the U.S. aviation industry $58 billion in aid, half in the form of grants earmarked to cover some 750,000 employees’ paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history. American Airlines......
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Trump says reopen by Easter, Corporate America says not so fast

Reuters
WASHINGTON (Reuters) – President Donald Trump wants America to get back to business by Easter, suggesting some efforts to slow the spread of coronavirus outbreak will no longer be needed by then, but Corporate America is taking its lead from health professionals. The president, who is concerned about the economic......
Reuters - Business

Coronavirus exposes U.S. Uber, Lyft drivers’ lack of safety net

Reuters
(Reuters) – As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours. FILE PHOTO: Uber and Lyft driver Adama Fofana sprays disinfectant in his car in New York City, New York, U.S., March 9, 2020. REUTERS/Joe Penney/File Photo But as the......
Reuters - Business

U.S. Senate bill to grant airlines bailout to weather coronavirus

Reuters
WASHINGTON/CHICAGO (Reuters) – The U.S. Senate will vote on Wednesday to give the U.S. aviation industry $58 billion in aid, half in the form of grants to cover some 750,000 employees’ paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history. American Airlines passenger......
Reuters - Business

U.S. coronavirus stimulus bill adds billions in support for farmers

Reuters
FILE PHOTO: Soybeans are harvested from a field on Hodgen Farm in Roachdale, Indiana, U.S. November 8, 2019. REUTERS/Bryan Woolston/File Photo CHICAGO (Reuters) – The U.S. coronavirus stimulus bill that U.S. senators will vote on would add $14 billion to the Agriculture Department’s Commodity Credit Corp spending authority, and authorize......

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