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Russia quits OPEC+ deal but will monitor situation, says Novak

Russia quits OPEC+ deal but will monitor situation, says Novak

MOSCOW (Reuters) - There is no more oil output deal between Russia, its allies and members of OPEC oil-producing countries, Russian Energy Minister Alexander Novak said on Friday, adding that the OPEC+ group of nations would continue to monitor the market situation. “Considering the decision taken today, from April 1 of this year onwards, neither we

Fed May Need to Buy Other Assets to Replenish Tool Kit, Official Says

Fed May Need to Buy Other Assets to Replenish Tool Kit, Official Says

The Federal Reserve may need to buy assets other than government bonds to counter the next downturn, a Fed official said Friday, a dramatic suggestion meant to bolster the central bank’s increasingly depleted tool kit for fighting a downturn. In coming years, “vision and boldness will be needed by all policymakers if we have to consider how policy

JPMorgan CEO Dimon 'feels really good' after emergency surgery: sources

JPMorgan CEO Dimon 'feels really good' after emergency surgery: sources

(Reuters) - JPMorgan Chase & Co ( JPM.N ) Chief Executive and Chairman Jamie Dimon told senior colleagues he “feels really good” after undergoing emergency heart surgery, and his doctors are “happy” with his recovery so far, sources familiar with the matter told Reuters on Friday. The sources said Dimon was expected to fully recover from the surgery,

India sets out Yes Bank rescue, State Bank of India to take 49% stake

India sets out Yes Bank rescue, State Bank of India to take 49% stake

NEW DELHI/MUMBAI (Reuters) - India laid out a rescue plan for Yes Bank ( YESB.NS ) on Friday under which State Bank of India ( SBI.NS ) will take a 49% stake in the troubled lender, which is struggling with bad loans. Indian Finance Minister Nirmala Sitharaman said the restructuring plan would be implemented within 30 days, adding the depth of the

Boeing's 'culture of concealment' led to fatal 737 Max crashes, report finds

Boeing's 'culture of concealment' led to fatal 737 Max crashes, report finds

A “culture of concealment”, cost cutting and “grossly insufficient” oversight led to two fatal crashes of Boeing 737 Max aircraft that claimed 346 lives, a congressional report has concluded. The preliminary findings , issued by Democrats on the House Transportation Committee, conclude that Boeing “jeopardized the safety of the flying public” in its

Coronavirus infects more than 100,000 worldwide, wreaking financial havoc

Coronavirus infects more than 100,000 worldwide, wreaking financial havoc

LONDON/LOS ANGELES (Reuters) - The number of people infected with coronavirus surpassed 100,000 across the world on Friday as the outbreak reached more countries and intensified economic damage, with business districts beginning to empty and stock markets tumbling. An increasing number of people were asked to stay home from work, schools were closed,

Thousands of jobs at risk as UK airline enters administration

Thousands of jobs at risk as UK airline enters administration

Thousands of jobs are at risk after Europe's largest regional airline, Flybe, entered into administration. Rival airline easyJet said it would offer flights at a discounted rate until the end of May to help affected passengers get home, plus free travel for Flybe staff on Thursday and Friday. Meanwhile, west coast rail operator Avanti said it would

U.S. job growth robust before coronavirus outbreak hit shores

U.S. job growth robust before coronavirus outbreak hit shores

WASHINGTON (Reuters) - U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost heading into the coronavirus outbreak, which has stoked fears of a recession and prompted an emergency interest rate cut from the Federal Reserve. The Labor Department’s closely watched monthly employment report on Friday also showed

Stock futures tank as virus fears spur flight to safety

Stock futures tank as virus fears spur flight to safety

(Reuters) - Wall Street was set for a steep drop at the open on Friday as heightened fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as bonds and gold. The outbreak, which has infected more than 100,000 globally and spread to at least four new U.S. states on Thursday, has crippled supply chains

Investors look for buys as virus fears crush travel stocks

Investors look for buys as virus fears crush travel stocks

NEW YORK (Reuters) - Bargain-hunting investors are eyeing the shares of airlines, hotels, cruise lines and other companies that have been among the worst-hit by the coronavirus outbreak. The recent declines have brought down the valuations of travel and leisure-related companies to levels some investors are believe are attractive. American Airlines