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Oil dips on oversupply concerns and stronger dollar

Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.



3 years ago

Factbox: Why Tiffany's debt obligations matter for its sale to LVMH

U.S. jewelry chain Tiffany & Co said on Tuesday that it amended some of the terms of its debt to give it financial breathing space, as it seeks to ensure that its $16.2 billion sale to French luxury goods giant LVMH is completed.



3 years ago

Airline industry headed for $84 billion loss this year: IATA

The coronavirus crisis will lead the airline industry into record annual losses of $84 billion as 2020 goes down as the "worst year in the history of aviation", the sector's main global body predicted on Tuesday.



3 years ago

The U.S. is officially in a recession. Will it actually become a depression?

The U.S. is officially in a recession. While unemployment levels are at their highest since the Great Depression, economists think it's unlikely the country will tip into depression territory.

3 years ago

EU weighs single bid for WTO job; trade chief Hogan confirms interest

European Trade Commissioner Phil Hogan confirmed on Tuesday that he was considering a bid to become the next director-general of the World Trade Organization, as EU governments debated whether to unify around a single European candidate.



3 years ago

FCC awarding up to $16 billion to address U.S. areas lacking broadband service

The U.S. Federal Communications Commission voted on Tuesday to adopt auction procedures to provide up to $16 billion to areas that lack broadband service, including nearly six million unserved rural homes and businesses.



3 years ago

Corning wins U.S. funding to boost vial output for COVID-19 vaccines

Glass maker Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost the manufacturing capacity of its vials that will be used to store coronavirus vaccines and treatments.



3 years ago

U.S. layoffs abate; job openings plunge

Layoffs in the United States fell in April, but remained the second highest on record, while job openings dropped, suggesting the labor market could take years to recover from the COVID-19 crisis despite a surprise rebound in employment in May.



3 years ago

Boeing jet deliveries sink to just four in May

Boeing Co deliveries worsened even further in May compared to April as the coronavirus pandemic's crushing impact on airlines added to a year of crisis following the grounding of its 737 MAX planes, company data showed on Tuesday.



3 years ago

Exclusive: Savings surge forces Goldman to shut Marcus to new UK clients

Goldman Sachs is closing its easy access savings business to new customers in Britain from Wednesday, after deposits surged to near regulatory limits during the coronavirus lockdown.



3 years ago

Volkswagen CEO apologised after row with supervisory board

Volkswagen Chief Executive Herbert Diess apologised to the company's supervisory board for having made "inappropriate and wrong" statements at an internal event, the carmaker said on Tuesday.



3 years ago

Airlines heading for $84 billion loss this year: IATA

Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association (IATA) forecast on Tuesday.



3 years ago

Macy's says return to normal business at least a year away

Macy's Inc warned on Tuesday its business was not likely to return to normal until late next year, even as it saw better-than-expected sales from stores reopening after COVID-19 lockdowns were lifted across the United States.



3 years ago

FCC proposes record $225 million fine for massive robocall campaign

The Federal Communications Commission (FCC) on Tuesday voted unanimously to propose a record-setting $225 million fine against Texas-based health insurance telemarketers for allegedly making approximately 1 billion illegally spoofed robocalls.



3 years ago

Barclays labels Staveley lawsuit 'distorted and exaggerated'

Barclays has dismissed as "distorted and exaggerated" legal arguments by financier Amanda Staveley, who is claiming up to 1.5 billion pounds in damages for alleged deceit over a financial crisis-era fundraising in a high-profile London trial.



3 years ago