Year: 2020

United Airlines said on Monday it expects to report a pre-tax loss of about $2.1 billion for the first quarter, hurt by a precipitous drop in travel demand from the coronavirus pandemic.

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U.S. Democrats and Republicans were near agreement on Monday for extra money to help small businesses hurt by the coronavirus pandemic, a top Republican lawmaker said, but he accused Democrats of holding up a deal.

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The crisis sparked by the spread of the novel coronavirus is the worst since the Great Depression, IMF Managing Director Kristalina Georgieva said on Monday.

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A Chicago Federal Reserve measure of the national economy plunged to recessionary levels in March as the country responded to the coronavirus pandemic, a broad and swift turnaround from growth that had been well above trend just weeks before.

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Oil prices fell on Monday, with a U.S. crude futures contract hitting its lowest level since 1998, as concerns that U.S. crude storage will soon be full and bleak economic data hit sentiment.

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Leading fracking firm Halliburton reported a $1 billion first quarter loss and $1.1 billion in impairment charges on Monday as it gave a bleak outlook for North American oilfields after the coronavirus-driven oil price decline.

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U.S. stock index futures fell on Monday as a slump in oil prices pounded energy stocks, with investors also bracing for another batch of dour first-quarter earnings reports and economic data.

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United Airlines said on Monday it expects to report a pretax loss of about $2.1 billion in the first quarter, hurt by a sharp drop in travel demand from the coronavirus pandemic.

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Norwegian Air on Monday reported that four Swedish and Danish subsidiaries had filed for bankruptcy and said it had ended staffing contracts in Europe and the United States, putting some 4,700 jobs at risk.

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New Indian rules to ensure scrutiny of investments from companies based in neighbouring countries, especially during the coronavirus outbreak, will also apply to Hong Kong, two senior government sources told Reuters on Monday.

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