Spain cuts 2021 growth forecast to 6.5% after first-quarter contraction

© Reuters. FILE PHOTO: Informal Meeting of Ministers for Economics and Financial Affairs in Berlin By Belén Carreño and Nathan Allen MADRID (Reuters) – Spain’s government slashed its forecast for this year’s economic recovery on Friday to reflect a COVID-induced contraction in the first quarter and expected delays to the arrival of EU rescue funds. […]

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Oil drops as Suez opens, focus turns to OPEC+ output cuts

© Reuters. Views of Total Grandpuits oil refinery By Aaron Sheldrick TOKYO (Reuters) -Oil prices fell on Tuesday as the Suez Canal opened up after days closed by a grounded supercarrier and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic […]

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Exclusive: GM further cuts production in North America due to global chip shortage

© Reuters. Logo of GM atop the company headquarters DETROIT (Reuters) – General Motors Co (NYSE:) extended production cuts in North America on Wednesday due to a worldwide semiconductor chip shortage that has impacted the auto sector. The U.S. automaker said its Wentzville, Missouri, assembly plant would be idled during the weeks beginning March 29 […]

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Eli Lilly’s combo therapy for COVID-19 cuts serious illness and death in large study

2/2 © Reuters. FILE PHOTO: Colorized scanning electron micrograph of an apoptotic cell heavily infected with SARS-COV-2 virus particles, also known as novel coronavirus 2/2 By Carl O’Donnell and Michael Erman (Reuters) – Eli Lilly (NYSE:) and Co said on Wednesday that its combination antibody therapy to fight COVID-19 reduced the risk of hospitalization and […]

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Oil hits almost 14-month high after OPEC+ extends output cuts

© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing By Noah Browning LONDON (Reuters) – Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase supply in April as they await […]

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Chesapeake Energy cuts 15% of workers as it emerges from bankruptcy

2/2 © Reuters. FILE PHOTO: Chesapeake Energy Corporation’s 50 acre campus 2/2 (Reuters) – U.S. shale oil and gas producer Chesapeake Energy Corp (NYSE:) plans to cut 15% of its workforce, an email sent to employees revealed, as it closes on new financing that will allow it to emerge from bankruptcy court protection next week. […]

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Investor payouts and job cuts jar with U.S. companies’ social pledge

2/2 © Reuters. FILE PHOTO: The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City 2/2 By Jessica DiNapoli, Ross Kerber and Noel Randewich (Reuters) – When Randall Stephenson joined 180 of his peers leading many of the richest U.S. companies in signing the Business Roundtable pledge on […]

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