Month: May 2020

President Donald Trump threatened on Thursday to impose new taxes on American companies that produce goods outside the United States, another move his administration could make to push supply chains away from China and raise new trade barriers.

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The novel coronavirus crisis continues to pummel the U.S. labor market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacted by business closures caused by the pandemic.

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Wall Street’s main indexes fell on Thursday, extending declines for the third straight session, as comments from President Donald Trump renewed worries over Sino-U.S. trade relations and added to concerns of a prolonged economic downturn.

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German flagship carrier Lufthansa on Thursday said it would be offering 1,800 round trips a week to more than 130 destinations around the world by the end of June.

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Planemaker Airbus has told senior staff the company must be “resized” in plans to be set out by around end-June and is ready to cut jet production again to tackle any second wave of the coronavirus crisis, people briefed on the matter said.

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Delta Air Lines , with more than 14,000 pilots on its roster, expects to have 7,000 more than it needs in the fall as the coronavirus pandemic weighs on its operations, according to a memo to flight operations employees seen by Reuters.

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World stock markets fell for a third day on Thursday and safe-haven bonds rose as disappointing U.S. jobs data and signals by central banks that further government stimulus may be needed stoked investor concerns about the global economic recovery.

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Nissan Motor may be looking at the possibility of closing its Barcelona factory but no final decision has been made as the Japanese carmaker plans a new global strategic direction, two sources with direct knowledge told Reuters.

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Renault is preparing to substantially reduce its vehicle range, withdrawing well-known but ailing models like the Espace minivans, as part of looming cost cutting plans, four sources in the industry and close to the French carmaker said.

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