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Ford on Thursday moved to hoard cash on its balance sheet, drawing down $15.4 billion from two credit lines and suspending its dividend, in a move to bolster reserves to ride out damage to its business from the coronavirus pandemic. The No. 2 US automaker, whose shares were down 5.2 percent, at $4.26 in afternoon …
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The death toll from Wuhan coronavirus in Italy has surpassed the number of reported deaths in China, marking a new milestone in the coronavirus pandemic. Italy reported 427 new deaths from the coronavirus on Thursday, with a total of 3,405 to China’s 3,245, according to Reuters. Italy now has 41,035 confirmed cases of coronavirus. The …
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Tesla is still building cars at its factory in Fremont, California, despite the Bay Area’s shelter-in-place order — a defiant stance that may result in a head-on collision with the law. The electric automaker headed by billionaire Elon Musk — which earlier this week told workers it would continue manufacturing operations despite local officials ordering …
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John Legend and Chrissy Teigen are finding ways to entertain their two children while social distancing. Teigen, 34, posted photos of Legend, 41, preparing to take a dip in the pool with their 1-year-old son Miles and 3-year-old daughter Luna while stuck at home amid the coronavirus pandemic. “I have crabs,” the hilarious cookbook author captioned …
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Coffee may feel essential, but in the face of coronavirus it’s putting thousands of Starbucks workers at risk, according to a new petition. Starbucks baristas, managers and other store employees are pushing the java giant to close its stores to protect them from the viral COVID-19 outbreak that’s expected to overwhelm hospitals in infected areas, …
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Uber Technologies has plenty of cash on hand to get through the coronavirus crisis and is seeing growth in businesses other than ride-hailing, CNBC reported on Thursday citing a conference call by Chief Executive Officer Dara Khosrowshahi. The company’s shares were trading up nearly 34 percent in the early afternoon on Thursday, at $19.80. Uber …
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Senate Majority Leader Mitch McConnell (R., Ky.) confirmed that Republicans plan to “put cash in the hands of the American people” with a “much bolder proposal” for the phase-three economic package to address coronavirus, after multiple reports emerged that Republicans were considering sending checks directly to all American adults. Speaking on the Senate floor Thursday, …
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The US economy has fallen into a recession because of the Chinese virus pandemic that will make for a “brutal” three months ahead, Bank of America warned Thursday. The bank expects the nation’s gross domestic product to plunge a record 12 percent in the second quarter of this year after meager growth of 0.5 percent …
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Prince William has become the first member of the royal family to address the coronavirus pandemic — calling it the crisis he “dreaded” would never come. The 37-year-old Duke of Cambridge made his remarks in a somber online video announcing that the UK’s National Emergencies Trust was officially stepping in to help those in need. …
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Conan O’Brien will continue putting on new episodes of his TBS late-night show “Conan” while still practicing social distancing. “I am going back on the air Monday, March 30th. All my staff will work from home, I will shoot at home using an iPhone, and my guests will Skype,” the TV host, 56, tweeted on …
Ford on Thursday moved to hoard cash on its balance sheet, drawing down $15.4 billion from two credit lines and suspending its dividend, in a move to bolster reserves to ride out damage to its business from the coronavirus pandemic. The No. 2 US automaker, whose shares were down 5.2 percent, at $4.26 in afternoon …
