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IMF praises Ukraine's decisions on land reform, banking law

The International Monetary Fund welcomes the Ukraine's initial parliament's adoption of legislation to strengthen the bank resolution framework and looks forward to its final approval, IMF Resident Representative in Ukraine said on Saturday.

4 Apr 2020 1:20 pm
Singapores Ikhlas Capital eyes mid-2020 fund close, rethinks $500 million target

Singapore-based private equity firm Ikhlas Capital will close its inaugural fund in the middle of this year, reassessing its planned $500 million target due to the coronavirus outbreak, founding partner and chairman Nazir Razak said.

4 Apr 2020 12:30 pm
Tesla cuts contractors from California, Nevada factories - CNBC

Tesla Inc is cutting contractors from its U.S. car and battery plants, CNBC reported on Friday, citing workers and a contract staffing agency.

4 Apr 2020 10:33 am
Singapores Ikhlas Capital eyes mid-2020 fund close, rethinks $1 billion target

Singapore-based private equity firm Ikhlas Capital will close its inaugural fund in the middle of this year, reassessing its planned $1 billion target due to the coronavirus outbreak, founding partner and chairman Nazir Razak said.

4 Apr 2020 10:29 am
Firm plans $2.5 billion capital boost in Malaysia Airlines takeover bid - report

A Malaysian company has proposed a fresh capital injection and to assume the debts of Malaysia Airlines (MAS), in a formal takeover bid of the ailing national carrier, according to a report by The Edge Malaysia.

4 Apr 2020 8:31 am
Saudi energy minister rejects Russian comments about kingdom's withdrawal from OPEC+ deal

The Saudi energy minister on Saturday rejected Russia's remarks that the kingdom withdrew last month from a deal to cut output.

4 Apr 2020 6:34 am
Trump aims to ease U.S. oil industry's cash crunch, no plan to trim output - sources

U.S. President Donald Trump has directed his cabinet to find ways to ease a cash crunch in the drilling industry after oil company executives told him in a Friday meeting it was among their top concerns, according to three sources briefed on the matter.

4 Apr 2020 4:44 am
U.S. businesses swarm coronavirus bailout fund after days of confusion

Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government's $349 billion small business bailout fund, which officially launched in the morning.

4 Apr 2020 3:59 am
Exclusive: Amazon to delay Prime Day event due to coronavirus, outlines cloud risks

Amazon.com Inc is postponing its major summer shopping event, Prime Day, until at least August and expects a potential $100 million hit from excess devices it might now sell at a discount, according to internal meeting notes seen by Reuters.

4 Apr 2020 3:53 am
Explainer: Antitrust law won't get in the way of U.S. acting to raise oil prices

It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday.

4 Apr 2020 3:51 am
Fiat Chrysler postpones shareholders' meeting and resolution on dividend to late June

Fiat Chrysler said on Friday it decided to postpone to late June its shareholders' meeting scheduled for April 16, as a consequence of the continuing coronavirus emergency.

4 Apr 2020 3:05 am
Exclusive: Chilean copper miners 'considering production cuts' - industry association

Copper miners in Chile are considering cutting production amid strict measures to contain the spread of the new coronavirus, an association of companies in the sector has told Reuters.

4 Apr 2020 2:21 am
Global stocks edge lower on economic toll from coronavirus, oil rallies

Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.

4 Apr 2020 2:13 am
Trump hosts Big Oil executives at White House to discuss market slump

U.S. President Donald Trump met with oil company executives at the White House on Friday afternoon to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.

4 Apr 2020 2:08 am
Sub-Saharan Africa faces pressure from oil price shock, pandemic rout

Zambia has become the latest African country looking for help to tackle its hefty debt burden this week as international lenders and analysts are warning the pandemic crisis could push many of the continent's economies into debt distress.

4 Apr 2020 1:59 am
Factbox: Trade restrictions on food exports due to the coronavirus pandemic

Here is a list of countries that have applied or are considering trade restrictions on food or agricultural products due to the spread of the novel coronavirus around the world.

4 Apr 2020 1:50 am
Exclusive: Oil crash 'not permanent,' Mexico sticks to output, investment plans

Mexico will press ahead with oil investment and production plans, its energy minister told Reuters on Friday, arguing that a global crash in oil markets will be short lived and does not merit a change in strategy.

4 Apr 2020 1:44 am
Germany's Metro withdraws outlook on coronavirus woes

German retailer Metro on Friday withdrew its guidance for the financial year 2019/20 due to the expected negative impact of the coronavirus on sales and earnings in the second half of the year.

4 Apr 2020 1:43 am
Exclusive: Mexico attractive to energy investment despite market crash, minister says

Mexico will soon offer investment opportunities in more of its mature oil fields and network of refineries, its energy minister told Reuters on Friday, adding that she did not believe low global energy prices were an obstacle to the plans.

4 Apr 2020 12:21 am
Coronavirus upends global food supply chains in latest economic shock

In the fertile Satara district in western India, farmers are putting their cattle on an unorthodox diet: Some feed iceberg lettuce to buffalo. Others feed strawberries to cows.

4 Apr 2020 12:14 am
Amid confusion, U.S. small business bailout program off to rocky start

A flood of loan applications from coronavirus-hit businesses inundated lenders on Friday as the U.S. government launched its $349 billion bailout fund for small and midsize companies amid widespread confusion about just how the program works.

3 Apr 2020 11:01 pm
Brent crude surges 10% on hopes of oil output deal

Crude futures surged for a second day on Friday, with benchmark Brent up 10% on hopes that a global deal to cut crude supply worldwide will emerge early next week.

3 Apr 2020 10:48 pm
FedEx hoards cash, slashes CEO pay amid coronavirus threat

FedEx Corp said on Friday it would pull $1.5 billion from a credit line and slash CEO pay as stay-at-home orders aimed at stemming the spread of the coronavirus in the United States and Europe hammer demand for its lucrative express services.

3 Apr 2020 10:44 pm
ArcelorMittal South Africa issues force majeure, cuts salaries

ArcelorMittal South Africa has issued force majeure notices to customers and suppliers where appropriate as a nationwide three-week lockdown impacts Africa's biggest steel producer.

3 Apr 2020 9:13 pm
Mahindra scraps SsangYong investment plan due to COVID-19 crisis

India's Mahindra and Mahindra Ltd will not invest further in its struggling South Korean unit SsangYong Motor Co , the company said on Friday, as automakers try to save cash in an effort to ride out the coronavirus crisis.

3 Apr 2020 9:11 pm
Gold inches up on bleak U.S. nonfarm payrolls, firmer dollar caps gains

Gold prices inched up on Friday, after gloomy U.S. nonfarm payrolls data magnified the economic toll from the coronavirus, although a stronger dollar capped bullion's advance.

3 Apr 2020 9:03 pm
Grounded planes insured for more than $160 bln - report

Aeroplanes with a total insured value of more than $160 billion are grounded around the world, presenting risks for insurers, a report said on Friday.

3 Apr 2020 8:38 pm
Coronavirus puts clutch of countries in junk rating danger zone

Being stripped of one's investment grade credit rating is a chastening moment for any government, but the crushing economic impact of the coronavirus, and for some the oil market crash, are putting at least half a dozen countries at risk.

3 Apr 2020 8:34 pm
UK car sector warns: supply companies need cash immediately

Britain's car sector needs immediate cash and the government should introduce measures to support suppliers, some of which only have enough money to handle the coronavirus crisis for weeks not months, the head of the main trade body told Reuters.

3 Apr 2020 8:21 pm
Euro zone ministers focus on quick options to support economy

Euro zone finance ministers are likely to converge on Tuesday on three quick options to support the economy in the wake of the coronavirus epidemic, officials said on Friday, with some discussion also of longer-term ideas to aid a recovery.

3 Apr 2020 8:11 pm
Deep oil output cuts won't offset unprecedented demand loss - IEA

Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world's richest economies to discuss broader ways to stabilise oil markets.

3 Apr 2020 8:06 pm
Trump will protect U.S. oil but can't dictate production - Kudlow

President Donald Trump will fight international efforts to collude in energy markets that could impact U.S. energy producers, but the administration cannot dictate decisions on oil production to American companies, a White House adviser said on Friday.

3 Apr 2020 8:06 pm
Coronavirus-led global recession to be deeper than thought but hopefully short: Reuters poll

The global recession that economists polled by Reuters say is under way will be deeper than thought a few weeks ago due to the coronavirus pandemic, although most are clinging to hopes for a swift rebound.

3 Apr 2020 7:59 pm
Exclusive: Airline crisis forces Airbus to consider A320 output cuts

Airbus is studying a sharp cut in output of its top-selling A320 plane series amid an industry-wide slowdown triggered by the coronavirus crisis, sources familiar with the matter said.

3 Apr 2020 7:44 pm
OPEC+ debates biggest-ever oil cut as virus destroys demand

OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic.

3 Apr 2020 7:42 pm
U.S. services sector growth slows; employment drops - ISM

U.S. services sector activity slowed to a more than 3-1/2-year low in March, with industries reporting a moderation in new orders and decline in employment amid the coronavirus pandemic, which has brought the country to sudden stop.

3 Apr 2020 7:37 pm
Global stocks edge lower on economic toll from virus; oil rallies

Global stock markets sank Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.

3 Apr 2020 7:29 pm
Brent crude rises above $33 on hopes of oil output deal

Benchmark Brent crude oil futures climbed to as high as $34.91 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.

3 Apr 2020 7:23 pm
FedEx slashes CEO's salary, draws $1.5 billion from credit line

FedEx Corp said on Friday it would slash its chief executive officer's pay and draw down $1.5 billion from a credit facility as delivery services take a hit from coronavirus-led lockdowns across the globe.

3 Apr 2020 7:20 pm
3M to make more face masks, ramp up imports to U.S. after Trump order

3M Co said on Friday it would increase the production of respirators and import more masks into the United States, after President Donald Trump invoked a law to help ease a shortage in the items needed to protect health staff against the coronavirus.

3 Apr 2020 7:19 pm
Gold demand soars in some Asian hubs, lockdowns, supply woes hit others

Physical bullion markets in major Asian hubs saw a sharp divide this week with some regions seeing a surge in demand, while others grappled with strained supply and muted activity amid global lockdowns due to the coronavirus.

3 Apr 2020 6:24 pm
Coronavirus brings record U.S. job growth to an end in March

The U.S. economy shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus pandemic shuttered businesses and factories, all but confirming a recession is underway.

3 Apr 2020 6:09 pm
Gold edges up, holds tight range ahead of U.S. data

Gold prices inched higher on Friday and were stuck in a narrow range as the dollar strengthened ahead of U.S. nonfarm payrolls data that could provide further clarity on the economic damage from the coronavirus.

3 Apr 2020 5:56 pm
Brent crude rises above $32 on hopes of oil output deal

Benchmark Brent crude oil futures rose as high as $33.37 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.

3 Apr 2020 5:20 pm
Global stocks fall as business signals hit from pandemic, oil grinds higher

Global stock markets sank on Friday, as more companies flagged a hit to business from the coronavirus pandemic while oil prices extended their previous day's gains on hopes of a cut to global supply.

3 Apr 2020 5:08 pm
Trump to host Big Oil executives at White House to discuss market slump

U.S. President Donald Trump will meet with oil company executives at the White House on Friday to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.

3 Apr 2020 4:35 pm
China frees up $56 billion for virus-hit economy by slashing small banks' reserve requirements

China's central bank said on Friday it was cutting the amount of cash that small and mid-sized banks must hold as reserves, releasing around 400 billion yuan ($56.38 billion) in liquidity to shore up the economy, which has been badly jolted by the coronavirus crisis.

3 Apr 2020 4:30 pm
Sensex, Nifty end lower as coronavirus cases touch 2,000, oil extends gains

Indian shares ended lower on Friday as coronavirus cases crossed 2,000 in Asia's third-largest economy, while oil prices advanced on hopes of a global supply cut.

3 Apr 2020 4:17 pm
UK facing Depression-style hit as firms slump in March

Britain's economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.

3 Apr 2020 4:13 pm
Oil analysts sceptical about Saudi-Russian 'deal'

U.S. President Donald Trump is stoking the possibility of Saudi Arabia and Russia negotiating oil output cuts as the coronavirus outbreak hammers demand.

3 Apr 2020 4:11 pm