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Advertisers shun coronavirus coverage, hastening news media battle for survival

From Rupert Murdoch's News UK to McClatchy's chain of local newspapers across the United States, news publishers are attracting record numbers of readers as people in lockdown seek information about the coronavirus pandemic.



4 years ago

Oil prices rise on optimism OPEC+ meeting will result in supply cut

Oil prices rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.



4 years ago

California developer says virus an act of God, sues Exxon over stalled deal

A California retail developer claims the state's coronavirus lockdown was an act of God that prevented it from completing a $4.2 million property acquisition, asking a court to prevent owner Exxon Mobil Corp from selling to any other buyers.



4 years ago

U.S. weekly jobless claims seen hovering near record highs

The number of Americans seeking unemployment benefits in the last three weeks likely totaled a staggering 15 million as tough measures to control the novel coronavirus outbreak abruptly ground the country to halt, which would cement views the economy was in deep recession.



4 years ago

Nissan seeks $4.6 billion credit line after coronavirus hit: sources

Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday.



4 years ago

Asian shares rise as investors pin hopes on pandemic peaking

Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures to support their economies, while expectations of a deal to cut oil production bolstered crude prices.



4 years ago

Saudi, Russia to lead oil output talks as U.S. resists cut

OPEC and other oil producers led by Russia will discuss their largest ever output cut on Thursday in talks complicated by recent animosity and U.S. resistance to mandating cuts.



4 years ago

UBS and Credit Suisse bow to regulator pressure on dividends

Swiss banks UBS and Credit Suisse will postpone paying out part of their 2019 dividends until later this year after mounting pressure from authorities over lenders' payouts during the coronavirus epidemic.



4 years ago

Cash-strapped Virgin Australia grounds almost all domestic flights amid virus crisis

Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis.



4 years ago

Global stocks gain on hopes pandemic is reaching peak

Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.



4 years ago

Exclusive: Wall Street firm dangled up to 175% returns to investors using U.S. aid programs

A New York investment firm pitched wealthy investors in recent days on a way to make returns of 22% to 175% using U.S. government programs designed to help Americans keep their jobs and boost the coronavirus-stricken economy, according to a marketing document seen by Reuters.



4 years ago

Prague aims to get a grip on Airbnb with coronavirus crisis laws

Officials in Prague are using the coronavirus crisis to get a firmer grip on short-term rentals like Airbnb, which they say have squeezed locals out of the Czech capital's centre.



4 years ago

UBS execs to donate millions to coronavirus fight as CEO cautions over uncertainty

UBS's most senior managers will each contribute the equivalent of three months' salary to fight the new coronavirus, Chief Executive Sergio Ermotti said on Thursday, as he cautioned over hopes for a swift recovery from the economic downturn caused by the epidemic.



4 years ago

Saudi, Russia debate record oil cut as U.S. resists action

OPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but talks are complicated by internal disagreements and the reluctance of the United States to join in any action.



4 years ago

Rosneft believes OPEC+ output cut of 10 million bpd would rebalance markets: RenCap

Rosneft believes a cut in oil production of 10 million barrels per day (bpd) by OPEC+ would be sufficient to rebalance oil markets, Renaissance Capital (RenCap) said late on Wednesday following a call with the Russian energy giant.



4 years ago