Airbus: End of Washington state tax break of Boeing just 'initial step'

WASHINGTON (Reuters) – Europe’s Airbus (AIR.PA) on Thursday welcomed a move by Washington state to remove what it called “illegal subsidies” to Boeing (BA.N), but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks. The Washington state Senate voted on Thursday to remove an aerospace tax break for Boeing that had been contested by […]

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World stocks plunge into bear market on U.S. travel curbs, ECB move

NEW YORK (Reuters) – Panic hit world financial markets on Thursday, after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves to restrict travel from Europe over the coronavirus pandemic. Global stocks plunged below bear market thresholds, with European shares taking their largest percentage drop on record and Wall Street’s Dow industrials index .DJI […]

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European Central Bank ramps up stimulus but stops short of rate cut

FRANKFURT (REUTERS) – The European Central Bank (ECB) approved fresh stimulus measures on Thursday (March 12) to help the ailing euro zone economy cope with the shock of the coronavirus pandemic but unexpectedly kept interest rates on hold, a decision that may dismay markets. With financial markets in free fall and companies struggling with disrupted supply chains, the ECB said […]

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Where to buy hand sanitiser during the coronavirus outbreak

Fears of COVID-19 coronavirus have led to an international shortage of hand sanitiser, with many retailers placing limits on the amount each customer can buy. With cases of the virus in the UK increasing every day, people have been advised to wash their hands regularly as well as use an alcohol-based hand rub. Which is why shoppers have been stocking […]

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Insurers face double whammy from coronavirus crisis

LONDON (Reuters) – Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from many business insurance policies, the early prognosis was for a low levels of claims. But as recession […]

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Stocks tumble after Trump bans travel from Europe to contain virus blow

TOKYO (Reuters) – Global shares crumbled on Thursday after U.S. President Donald Trump said the United States will suspend all travel from Europe as he unveiled measures to contain the coronavirus epidemic that has extracted a heavy human and economic toll worldwide. U.S. S&P500 futures ESc1 dropped more than 3%, a day after the S&P 500 .SPX lost 4.89%, putting […]

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Bear market fears grip global shares as pandemic declared, eyes on Trump

TOKYO (Reuters) – Global shares were set for a rocky ride on Thursday as investors tally the economic damage of coronavirus, a day after the U.S. Dow Jones industrials entered bear market territory and world health officials declared the virus a pandemic. Markets desperate for government action to offset the impacts of the global outbreak will look to an address […]

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U.S. oil company workers make big, bad retirement bet: their own stock

BOSTON (Reuters) – Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices. The losses spread across the 401(k) plans of some 66,000 […]

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Coronavirus raises fears of U.S. auto sales slowdown, but production not suffering yet

DETROIT (Reuters) – Fears of a U.S. sales slowdown in auto showrooms due to the coronavirus outbreak that has spread globally are appearing in analysts’ forecasts, but industry executives said the pandemic has yet to affect demand or factory production. Officials with Detroit automakers General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) on […]

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