Business News

U.S. retail giant Costco will open a new store in China’s eastern city of Suzhou, near Shanghai, state media reported on Thursday.

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Home rental firm Airbnb blocked British bookings on its platform for the vast majority of customers on Thursday, allowing only key workers to stay in properties for as long as emergency government coronavirus restrictions are in place.

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OPEC and its allies hold talks on Thursday to discuss plans for the biggest coordinated oil output cut in history but two hurdles remain: reaching a deal on the levels from which to make reductions and securing the participation of the United States.

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Officials in Prague are using the coronavirus crisis to get a firmer grip on short-term rentals like Airbnb, which they say have squeezed locals out of the Czech capital’s centre.

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U.S. stock index futures dipped on Thursday as investors braced for another staggering weekly jobless claims number, while oil prices rose on hopes of sweeping production cuts.

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Walt Disney Co said on Wednesday that Disney+ has attracted more than 50 million paid users, with 8 million of them coming from India where the video streaming service was rolled out last week.

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A New York investment firm pitched wealthy investors in recent days on a way to make returns of 22% to 175% using U.S. government programs designed to help Americans keep their jobs and boost the coronavirus-stricken economy, according to a marketing document seen by Reuters.

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UBS’s most senior managers will each contribute the equivalent of three months’ salary to fight the new coronavirus, Chief Executive Sergio Ermotti said on Thursday, as he cautioned over hopes for a swift recovery from the economic downturn caused by the epidemic.

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Officials in Prague are using the coronavirus crisis to get a firmer grip on short-term rentals like Airbnb, which they say have squeezed locals out of the Czech capital’s centre.

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Rosneft believes a cut in oil production of 10 million barrels per day (bpd) by OPEC+ would be sufficient to rebalance oil markets, Renaissance Capital (RenCap) said late on Wednesday following a call with the Russian energy giant.

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UniCredit remains strongly committed to increasing returns for investors in Italy’s biggest bank, its chairman said, following a decision to suspend dividend payments and a share buyback to comply with supervisory guidance.

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Russia wants coordinated joint action to stabilise global oil markets, Kremlin spokesman Dmitry Peskov said on Thursday ahead of a meeting between OPEC and non-OPEC producers.

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Nissan Motor Co Ltd has requested a $4.6 billion commitment line from major lenders to cushion the impact of the coronavirus pandemic while it seeks to engineer a desperately needed turnaround, people with knowledge of the matter said.

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Tesla Inc sold 10,160 vehicles in China in March, its highest ever monthly sales in the world’s largest auto market, the China Passenger Car Association (CPCA) said on Thursday.

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Oil prices rose on Thursday on expectations the world’s leading crude producers will overcome obstacles at a meeting later in the day that have so far prevented a deal to cut output in response to a collapse in global demand.

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