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Two leading oil price reporting agencies launch new US crude benchmarks to rival WTI S&P Global Platts said its new benchmark for U.S. crude, called Platts American GulfCoast Select (AGS), would reflect the value of waterborne light sweet crude supplied from the Permian Basin in west Texas and New Mexico on major pipelines to the Gulf.
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Lenders to Ailing Companies Circle Wagons to Fend Off Distressed-Debt Investors Eaton Vance Corp. mutual-fund manager Craig Russ isn't an activist, but when he heard that distressed-debt investors were going after Serta Simmons Bedding LLC, endangering his $200 million investment in the ailing company, he went to the mattresses.
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EU investigating German watchdog over Wirecard collapse BRUSSELS/LONDON (Reuters) - The European Union is investigating Germany's financial regulator over the collapse of payments company Wirecard in a rare move that heaps embarrassment on Berlin days before it is due to take over the EU's rotating ...
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The Fed put new restrictions on US banks. Some want it to go further A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. London (CNN Business) Regulators have made clear that the US banking system is in much better shape than it was during the ...
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Natural killer biotech Artiva launches with $78M, industry veterans A new San Diego biotech has come out of the shadows with a meaty $78 million series A and a next-gen immuno-oncology platform. It plans to start human testing this year. Artiva Biotherapeutics is led by cell therapy and cancer specialists; its CEO, president ...
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TikTok Tells Brands Not to 'Make Ads' at First-Ever NewFronts Ahead of TikTok's presentation at the 2020 Digital Content NewFronts, the company released a new umbrella brand called TikTok for Business for its advertiser offerings. TikTok, a newcomer to NewFronts, adapted its vertical-first format for a horizontal ...
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Verizon joins the Facebook ad boycott after one of its ads is displayed next to an anti-Semitic conspiracy video Verizon has pulled its advertising from Facebook, joining a growing list of companies boycotting the social-media firm over its content moderation. A group of six nonprofit organizations started the boycott last week, calling on companies to withdraw their ...
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Japanese startup creates 'connected' face mask for coronavirus new normal TOKYO (Reuters) - As face coverings become the norm amid the coronavirus pandemic, Japanese startup Donut Robotics has developed an internet-connected "smart mask" that can transmit messages and translate from Japanese into eight other languages.
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Thailand's ailing low cost carrier NokScoot to enter liquidation June 26 (Reuters) - Thailand's long haul low cost carrier NokScoot Airlines will enter liquidation as the coronavirus pandemic worsened conditions for the struggling airline, its parent company Nok Airlines PCL said on Friday. NokScoot, a joint venture ...
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UPDATE 1-Aston Martin turns to stock offering to bolster capital (Adds details from statement, background). June 26 (Reuters) - Aston Martin said on Friday it would issue new shares worth up to 20% of its existing equity capital as the luxury carmaker seeks additional funds to ride out the coronavirus crisis. New owner Yew ...
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With unemployment offices busy, recovery seems a 'long haul' As American businesses reopen in fits and starts — and anxiety over new coronavirus hot spots increases — state unemployment offices still have their hands full. Subscribe to get the full story. Already a paid subscriber? Sign in. Subscribe to get the full story.
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PG&E Raises More Than $5 Billion Ahead of Bankruptcy Exit PG&E Corp. said it expects to net more than $5 billion to help fund its emergence from chapter 11 bankruptcy after pricing public offerings of common stock and equity units. The San Francisco-based utility said it priced an offering of 423.4 million shares at ...
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The Tax Break for Work-at-Home Expenses Disappeared at the Wrong Time, But Some States Still Let You Deduct Them In 2018, the Tax Cuts and Jobs Act eliminated a number of tax deductions, including one allowing you to deduct unreimbursed employee expenses. This change came at a bad time, as more Americans than ever are now working from home due to COVID-19.
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Italy's Mediaset Prevents Vivendi Trust From Voting at AGM MILAN (Reuters) - Mediaset said on Friday it would not allow the trust that holds most of French group Vivendi's stake in the Italian broadcaster to vote at its annual shareholder meeting. Vivendi and Mediaset have been at odds since the French conglomerate ...
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Lazada, Alibaba's Southeast Asian Arm, Appoints Its Third CEO in Three Years SINGAPORE (Reuters) - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Chun Li, Lazada co-president ...
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UPDATE 2-Lakeside owner Intu debt talks fail, raising prospect of administration ... * Intu says likely to appoint administrators. * Could not reach agreement on debt standstill. * Shares collapse nearly 40% to record low (Adds detail from statement, shares, background). By Yadarisa Shabong. June 26 (Reuters) - One of Britain's biggest mall ...
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Navistar Appoints Persio V. Lisboa President And Chief Executive Officer LISLE, Ill., June 26, 2020 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) today announced that its board of directors has appointed Persio V. Lisboa president and chief executive officer. Troy A. Clarke, who has held the roles of Navistar ...
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Tesla factory workers who stayed home due to COVID fears face termination Two workers, Carlos Gabriel and Jessica Naro, say that they received termination notices from Tesla last week after taking unpaid time off in an effort to avoid the coronavirus. The San Jose Mercury News first reported Gabriel's termination notice last week.
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Spectrum Brands to issue $300 million of 10-year bonds Spectrum Brands Holdings Inc. SPB, -1.94% launched a $300 million offering of 10-year bonds on Friday, joining the many companies issuing debt during the coronavirus pandemic. The company, which owns a portfolio of brands including George Forman, ...
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South Africa's Vodacom appoints Mdlalose as interim CFO JOHANNESBURG, June 26 (Reuters) - Vodacom Group executive director Sitho Mdlalose will be appointed interim group chief financial officer from July 1, the South African mobile operator said on Friday. Mdlalose is replacing Till Streichert who is leaving ...
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GRAINS-Corn futures set for weekly loss on favourable US crop weather ... * Rains across U.S. Midwest seen boosting corn production. * IGC raises forecasts for 2020/21 global wheat, corn crops. * China's May soybean imports from Brazil hit highest monthly total in 2 years (Adds quote in paragraph, details on China soybean ...
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UK tour operator scraps Florida visits over Disney measures Europe's biggest travel and tourism company, TUI, is cancelling all holidays to Florida from the U.K. until December following the introduction of new hygiene rules at Walt Disney World Resort, including the mandatory use of face coverings. The firm said ...
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Moderna, Catalent collaborate on COVID-19 vaccine Moderna and Catalent on Thursday announced a joint effort to release Moderna's COVID-19 vaccine candidate, mRNA-1273. Somerset-based Catelent – a global provider of advanced delivery technologies, development and manufacturing solutions for ...
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Delta CEO: Customers who refuse to wear face masks may be banned from future flights Delta will not forcibly remove customers who refuse to wear protective masks, but those individuals are at risk of missing out on future Delta flights. In a memo to employees dated Thursday, June 25, Delta Air Lines Inc. chief executive officer Ed Bastian said ...
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Orders for US big-ticket factory goods surge 15.8% in May WASHINGTON — (AP) — Orders to American factories for big-ticket goods rebounded last month from a disastrous April and March as the U.S. economy began to slowly reopen. The Commerce Department said that orders for manufactured goods meant to ...
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Market Movers: IT, OMC stocks soar; FMCG falls; 89 stocks flash 'sell' signals Mumbai: Equity benchmarks Sensex and Nifty extended gains for the fourth week in a row, largely led by the gains in world equities, but mounting coronavirus infections could forece a consolidation going ahead. On Friday, Sensex rose 329 points to close at ...
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Apogee Enterprises: Fiscal 1Q Earnings Snapshot MINNEAPOLIS (AP) — Apogee Enterprises Inc. (APOG) on Friday reported fiscal first-quarter profit of $2.9 million. The Minneapolis-based company said it had profit of 11 cents per share. Earnings, adjusted for one-time gains and costs, came to 15 cents per ...
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4 billion COVID-19 vaccine doses? It's possible, CEPI official tells Reuters As dozens of COVID-19 vaccines race ahead at record speeds, industry watchers have raised concerns over the resources needed for a massive immunization push. Behind the scenes, the Coalition for Epidemic Preparedness Innovations (CEPI) is laying the ...
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Rupee ends flat at 75.65 on concerns over rising COVID-19 cases Mumbai, Jun 26 () The rupee pared initial gains to close flat at 75.65 against the US dollar on Friday as concerns about rising COVID-19 cases weighed on investor sentiment. Forex traders said risk appetite has waned amid spike in fresh coronavirus ...
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GNC files for bankruptcy, plans to close up to 1200 stores GNC has filed for bankruptcy, warning it will close up to a quarter of its stores and search for a buyer. The 85-year-old vitamin and dietary supplement company has been saddled with nearly $1 billion of debt and has faced declining sales at its ...
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US aviation unions ask Congress for another $32 billion bailout By Tracy Rucinski and David Shepardson. CHICAGO/WASHINGTON (Reuters) - Six U.S. unions representing aviation workers told top lawmakers on Thursday that another $32 billion in payroll aid is needed to keep hundreds of thousands of workers ...
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Employees Provident Fund rate cut soon? AITUC against EPF interest reduction below 8.5 per cent The government took unilateral decision to reduce the employer, employee share without consent from the EPFO's apex decision making body CBT (Central Board of Trustees) during COVID-19 lockdown, the statement added. Share · Next. The government ...
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888 cash profits jump during lockdown In a pre-close trading update, 888 (888) said that daily average revenue has climbed by more than a third in the year to date. Management credited the performance to stronger customer acquisition during the second half of 2019, as well as a shift towards ...
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Why Vaxart, Inovio, and Sorrento Therapeutics Stocks Soared Today The war against COVID-19 is intensifying, and investors are placing their bets on which companies they believe will emerge victorious. Shares of Vaxart (NASDAQ:VXRT), Inovio Pharmaceuticals (NASDAQ:INO), and Sorrento Therapeutics (NASDAQ:SRNE) ...
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Khoros Care Now Offers Google's Business Messages to Serve Customers Online AUSTIN, Texas--(BUSINESS WIRE)--Jun 25, 2020--. Khoros, a global leader in customer engagement software, today announced that it offers Google's Business Messages. Google's newest channel makes it easy for customers to initiate rich messaging ...
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Toyota recalls Prius and Prius v at risk of stalling Toyota issued a recall on Wednesday for 267,000 Prius and Prius v cars because they could potentially stall unexpectedly. According to a news release, the recall is for certain 2013-2015 model year Prius and 2014-2017 model year Prius v in the United ...
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79 employees at Bajaj Auto Aurangabad factory test COVID positive; facility shut down temporarily In a rather unfortunate development, 79 employees at Bajaj Auto's manufacturing factory have tested positive for the coronavirus. The development has, of course, led to the company temporarily shuttering the facility as it endeavours to deal with the ...
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Will the gold price rise dampen India's love for the yellow metal? Mumbai: Indian gold prices have increased by 23% so far this year. Gold with 24-carat purity also crossed the Rs 50,000 per 10-gram mark recently. But why are we seeing a surge in prices despite a COVID-led uncertainty impacting demand? SHOW FULL ...
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Brexit: UK starts work on buying own sat-nav system to rival Galileo The government has begun the process of buying a UK-specific satellite navigation system. PM Boris Johnson and Chancellor Rishi Sunak are understood to be keen on putting a 20% stake in satellite operator OneWeb. The UK is unable to access the EU's ...
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UK's Sunak Sets 'Extraordinarily High' Bar for Company Bailouts LONDON — British finance minister Rishi Sunak said he would set an "extraordinarily high" for bailing out individual companies that are struggling as a result of the coronavirus crisis, Bloomberg Television reported on Friday. Britain's government has ...
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