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Lyft to cut 982 jobs due to coronavirus outbreak

FILE PHOTO: The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid (Reuters) – Lyft Inc (LYFT.O) plans to lay off 982 employees, or 17% of the ride-hailing firm’s workforce, due to economic challenges caused by the coronavirus pandemic, the company said in a…

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S&P 500, Nasdaq retreat as pandemic damage mounts

(Reuters) – The S&P 500 and Nasdaq erased early gains on Tuesday as a plunge in consumer confidence underlined the extent of the economic damage from the coronavirus pandemic, while healthcare stocks slumped after a sales warning from Merck. The New York Stock Exchange (NYSE) is seen in the financial district of…

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H&M set to permanently close eight shops in Italy

MILAN (Reuters) – Sweden’s H&M (HMb.ST) is set to permanently close eight of its Italian stores, including two in the country’s fashion capital Milan, as it pushes ahead with plans that pre-date the COVID-19 pandemic. FILE PHOTO: H&M logo is seen on a shop in Riga, Latvia January 30, 2020. REUTERS/Ints Kalnins…

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Bayer board wins shareholder vote of approval at AGM

FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay FRANKFURT (Reuters) – Bayer’s (BAYGn.DE) executive board won a clear vote of confidence from shareholders at Tuesday’s annual general meeting, following a rebuke a year…

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