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Trump says expects Russia-Saudi oil deal soon, invites U.S. oil chiefs to White House
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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Cruise operator Carnival pays high price to get credit investors on board: sources
Carnival Corp , the world’s largest cruise operator, raised $6.25 billion by issuing new debt and equity on Wednesday, borrowing at a high cost to weather the economic storm of the coronavirus pandemic, people familiar with the matter said.
Business News
Trump says he expects Saudi-Russia oil production deal in coming days
U.S. President Donald Trump said on Wednesday he expected Saudi Arabia and Russia to reach a deal in the next few days on oil production to end a price war that has “ravaged” the oil industry worldwide.
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U.S. Energy Department urges Saudi, Russia to calm oil markets
The U.S. Energy Department on Wednesday urged Saudi Arabia and Russia to calm oil markets after the kingdom’s crude supply rose to a record of more than 12 million barrels per day even as oil demand falters on the coronavirus pandemic.
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Almost all bets are off: casino capitals Macau, Las Vegas slammed by virus
The vast, glitzy gaming halls of Macau are open, but thousands of baccarat tables are empty. The world’s biggest gambling hub has barred entry to most travellers and hotels are being used to isolate new arrivals in case they have been infected by coronavirus.
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U.S. Seeks Body Bags And Says China Hid Infections: Virus Update
(Bloomberg) — American intelligence officials concluded that China concealed the extent of the outbreak there. The Pentagon aims to provide as many as 100,000 body bags for civilian use in the U.S.New York and New Jersey said deaths have doubled in the past three days, while Florida ordered residents to stay home after weeks of rejecting calls to do so. President Donald Trump’s administration is weighing whether to halt flights from some of the hardest-hit cities.France and Spain reported their deadliest days. Italy and Germany moved to extend lockdowns. In the U.K., some 1 million people have surged onto welfare. …read more […]
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Asian stocks slip as Trump warns of horrors to come
Asian equities fell for a second session on Thursday, after a dire warning about the U.S. coronavirus death toll had investors looking to the safety of dollars and bonds and bracing for more bad news from U.S. jobless figures.
Business News
SoftBank to abandon $3 billion deal for additional WeWork shares
Japan’s SoftBank Group Corp will not complete a $3 billion tender offer for additional WeWork shares agreed last year with its shareholders, a special committee of the U.S.-based shared-office operator’s board said on Wednesday.
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China’s ports brace for second hit as virus spread wipes out exports
China’s ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country’s coronavirus lockdown as the global spread of the virus chokes off international demand.
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British Airways could suspend 36,000 employees: BBC
IAG-owned British Airways is expected to announce a suspension of about 36,000 of its employees, BBC News reported on Wednesday.
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Oil surges as Trump talks up hopes for truce in Saudi-Russia price war
Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war.
Business News
Elon Musk’s SpaceX bans Zoom over privacy concerns: memo
Elon Musk’s rocket company SpaceX has banned its employees from using video conferencing app Zoom, citing “significant privacy and security concerns,” according to a memo seen by Reuters, days after U.S. law enforcement warned users about the security of the popular app.
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Apple will stop taking cut of some Amazon video purchases on App Store
Apple Inc said on Wednesday it would stop taking a cut of some sales for “qualifying” streaming video services on iPhones and other Apple devices, including Amazon.com’s Prime Video.