IMF says ECB, ESM support key to strong EU coronavirus response

WASHINGTON (Reuters) – The International Monetary Fund said on Monday the relaxation of the euro zone’s fiscal rules and support from the European Central Bank and the European Stability Mechanism is critical to a strong regional response to the coronavirus pandemic. “The determination of euro area leaders to do what it takes to stabilize the euro should not be underestimated,” […]

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Wall Street set to open higher as investors weigh stimulus against shutdown

(Reuters) – Wall Street was set to open slightly higher on Monday as President Donald Trump followed last week’s massive fiscal stimulus by extending his stay-at-home guidelines, leaving investors guessing at their economic impact. The S&P 500 .SPX posted its biggest weekly percentage gain in over a decade last week, while the Dow Jones .DJI its best since 1938, thanks […]

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Oil plunges to 2002 lows, shares sink again

LONDON/SYDNEY (Reuters) – Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months. There were some bright spots, with Australian equities posting a standout jump as the government launched a super-sized support programme, but that was about it. Japan’s Nikkei had led the rest of […]

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Asia shares suffer virus chills, central banks offer what they can

SYDNEY (Reuters) – Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts. “We continue to mark down 1H20 global GDP forecasts as our assessment of both the global pandemic’s reach and the damage related […]

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National Enquirer Publisher Is Cutting Employees’ Pay

American Media is the latest media outlet to announce cuts as the coronavirus has shaken the economy and the advertising market. By Marc Tracy American Media Inc., the publisher of The National Enquirer, Men’s Journal, Us Weekly and other titles, is cutting the pay of its employees by more than 20 percent, a spokesman said on Saturday, as the coronavirus […]

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Norway's wealth fund lost $124 billion this year as stocks crash

OSLO (Reuters) – Norway’s $930 billion sovereign wealth fund, the world’s largest, has lost 1.33 trillion Norwegian crowns ($124 billion) so far this year as stock markets plunged amid the coronavirus outbreak, it said on Thursday. The year-to-date loss on its investment portfolio is 16.2%, all but erasing the 20% gains made last year. The fund’s stock market portfolio, its […]

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Asian markets tread cautiously ahead of U.S. stimulus, jobs

SINGAPORE (Reuters) – Asian stock markets made a cautious start on Thursday following two days of rallies, as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus. Senate leaders hope to vote on the plan later on Wednesday in Washington, but it still faces criticism. […]

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Stocks rebound grinds past 10% after $2 trillion U.S. stimulus boost

LONDON (Reuters) – A breakneck rebound in world stocks made it past the 10% mark on Wednesday before more global coronavirus warnings and fresh turbulence in commodity markets saw things grind to a halt. Hopes that an incoming $2 trillion U.S. fiscal stimulus will ease the economic devastation caused by virus lockdowns gave world equity indexes .MIWD00000PUS their first back-to-back […]

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France's Air Liquide aims to boost production of ventilators

PARIS (Reuters) – The healthcare unit of French industrial gases company Air Liquide said on Tuesday it was ramping up production of ventilators needed by hospitals to deal with the coronavirus outbreak. Ventilators, which are used to blow air and oxygen into the lungs, are critical for treating people with lung failure, which can afflict patients with severe COVID-19, the […]

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