Business

Saudi Arabia is preparing to enact “strict, painful measures” in the face of its worst growth contraction in two decades brought on by the twin shock of coronavirus lockdowns and low oil prices, its finance […]

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Tesla shares plunged after Chief Executive Officer Elon Musk said the electric-car maker’s stock is too high in a stream of tweets reminiscent of the posts that securities regulators sued over in 2018, Bloomberg reported. […]

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Iraq is planning painful cuts in social benefits relied on by millions of government workers. Saudi Arabia will likely have to delay mega-projects. Egypt and Lebanon face a blow as their workers in the Gulf […]

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The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion the total provided to the airline sector […]

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With the U.S. coronavirus death toll topping 51,000 and nearly one in six workers out of a job, Georgia, Oklahoma and several other states took tentative steps at reopening businesses on Friday, despite disapproval from […]

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U.S. workers who refuse to return to their jobs because they are worried about catching the coronavirus should not count on getting unemployment benefits, state officials and labor law experts say, Reuters writes. Workers in […]

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A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month […]

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The price for a barrel of West Texas Intermediate crude to be delivered next month plunged 93% to $1.21 in Monday’s trading, the lowest price since the futures contract was launched in 1983. If that […]

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New York City may lose a half-million jobs and run about $10 billion short on tax revenue through mid-2021 because of the coronavirus outbreak, the city’s Independent Budget Office estimated, Bloomberg writes. Retail employment will […]

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President Donald Trump said he will unveil guidelines to relax stay-at-home rules on Thursday, citing signs that the coronavirus outbreak is plateauing in parts of the country, Bloomberg reported. “The battle continues, but the data […]

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The Internal Revenue Service on Wednesday launched an online tool to allow taxpayers to give the agency their direct deposit information to help speed up the coronavirus relief payments to Americans, Fox News informed. The IRS’s “Get […]

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Saudi Arabia is selling a Eurobond as it follows other Middle Eastern states that have tapped the market in recent weeks to bolster their finances in the face of the coronavirus pandemic and plunging energy […]

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Canadian lawmakers approved a bill to subsidize wages by 75% in a bid to stabilize the economy as Prime Minister Justin Trudeau called the coronavirus his generation’s greatest challenge yet, Bloomberg reports. The flagship C$73 […]

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OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to […]

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Asian shares are steady in quiet Good Friday trading after Wall Street closed out its best week in 45 years thanks to the Federal Reserve’s titanic effort to support the economy through the coronavirus crisis, […]

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The U.S. government’s massive effort to nurse the economy through the coronavirus crisis was billed as a send-money-and-don’t-sweat-the-details flood of cash to people and businesses in a $22 trillion system that has ground to a […]

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