Year: 2020

SoftBank Group Corp said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, including ousted co-founder Adam Neumann, drawing threats of legal action from other board members.

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Boeing Co is set to offer buyout and early retirement packages to employees, two people familiar with the matter said on Wednesday, a bid to mitigate the financial fallout from the coronavirus pandemic.

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Asian share markets were pinned down on Thursday, haunted by the rising U.S. coronavirus death toll, and with investors braced for more signs of economic pain in the world’s largest economy ahead of another likely record week of jobless claims.

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Delivery Hero , one of the world’s top online food delivery marketplaces, announced measures on Thursday to support restaurants that are trying to survive coronavirus lockdowns by ramping up deliveries to consumers stuck at home.

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The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.

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U.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry “ravaged” by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia.

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German automaker Volkswagen said on Wednesday it would extend until April 30 a suspension of activities at two production plants in central Mexico after the government declared a health emergency because of coronavirus.

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Crude oil futures surged on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war and Russian President Vladimir Putin called for a solution to “challenging” oil markets.

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The global crisis caused by the coronavirus pandemic will be felt throughout oil’s global supply chains and ripple into other parts of the energy sector, the International Energy Agency (IEA) said in a report on Wednesday.

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Saudi Arabia supports cooperation between oil producers to stabilize the oil market but Russia’s opposition to a proposal last month to deepen oil supply cuts has caused market turmoil, a senior Gulf source familiar with Saudi thinking told Reuters.

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Boeing Co was set to offer employee buyout and early retirement packages, two people familiar with the matter said on Wednesday, a bid to mitigate the financial fallout from the coronavirus pandemic.

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The dollar held gains on Thursday as investors rushed to the safety of the world’s most liquid currency given the massive disruption to global trade due to the coronavirus pandemic.

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