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US auto industry backs tax relief, delaying USMCA start after coronavirus

Groups representing major automakers and suppliers asked U.S. lawmakers on Friday to consider new tax relief and delay the start of a new trade deal as auto sales decline as a result of the coronavirus pandemic.

Markets

US to send envoy to Saudi Arabia; Texas suggests oil output cuts

The Trump administration, scrambling to respond to the global oil price crash, plans to send an energy representative to Saudi Arabia, officials said on Friday, while a regulator from the top oil-producing state of Texas took the rare step of considering production cuts.

Markets

Air Canada to lay off more than 5,000 flight attendants: Union

Air Canada will temporarily lay off more than 5,100 employees as it attempts to check the impact of the coronavirus pandemic, the union representing the Canadian airline's flight attendants said on Friday.

Markets

Wells Fargo rolls out waivers, aid in response to coronavirus outbreak

Wells Fargo & Co said on Friday it is suspending residential property foreclosure sales, evictions and involuntary automobile repossessions due to the coronavirus outbreak.

Markets

Wall Street dives, ends worst week since 2008, as New York, California impose restrictions

The S&P 500 and the Dow dipped in choppy trading on Friday, as the New York state ordered all non-essential workers to stay at home to contain the coronavirus outbreak that has fueled the worst monthly rout in U.S. equities in three decades.

Markets

US to send envoy to Saudi Arabia as Texas suggests oil output cuts

The Trump administration, scrambling to respond to the global oil price crash, plans to send an energy representative to Saudi Arabia, officials said on Friday, while a regulator from the top oil-producing state of Texas took the rare step of considering production cuts.

Markets

US extends tax filing deadline to July 15: Mnuchin

The U.S. government will give individuals and companies an extra three months to file their 2019 tax returns, extending the deadline to July 15 amid the coronavirus outbreak.

Markets

BMW will idle South Carolina plant for two weeks starting April 3

BMW AG said on Friday it will temporarily close its South Carolina plant for two weeks starting April 3.

Markets

Goldman Sachs CEO sees 2019 compensation rise US$4 million

Goldman Sachs Group Inc's Chief Executive David Solomon got a US$4 million raise in his total compensation for 2019 from 2018, according to corporate filings released on Friday.

Markets

Commentary: COVID-19 outbreak has overworked some but left more with little to do

During this coronavirus outbreak, industries must find ways to make better use of idle resources to fight the virus, says the Financial Times’ Tim Harford.

Markets

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