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S&P closes lower as new COVID-19 cases surge

NEW YORK (Reuters) – The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery. FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in…

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Stocks waver on rising COVID cases, dollar in safety bidding

NEW YORK (Reuters) – Global equity markets closed little changed on Wednesday as a rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt. Optimism over a quick economic recovery has been tempered by more global cases…

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U.S. trade chief vows to push for ‘broad reset’ at WTO

WASHINGTON (Reuters) – The Trump administration will push for a broad reset of “outdated tariff determinations” at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday. U.S. Trade Representative Robert Lighthizer takes off his…

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Americans face new coronavirus challenge: a shortage of coins

FILE PHOTO: A stack of one cent U.S. coins depicting Abraham Lincoln is shown in this photo Illustration in Encinitas, California March 26, 2015. REUTERS/Mike Blake SAN FRANCISCO (Reuters) – Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution…

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Safe-haven dollar lifted by rise in coronavirus cases

FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration NEW YORK (Reuters) – The U.S. dollar was slightly higher on Wednesday afternoon as evidence of a surge in coronavirus cases in some U.S. states and…

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Ex-Tommy Hilfiger boss Grieder to become new Hugo Boss CEO

FILE PHOTO: The logo of German fashion company Hugo Boss is seen at a store in Vienna, Austria, November 23, 2016. REUTERS/Leonhard Foeger/File Photo FRANKFURT (Reuters) – German fashion house Hugo Boss (BOSSn.DE) has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday. Grieder, the…

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Lufthansa shareholder Thiele raps bailout deal, raises stake

FILE PHOTO: Lufthansa presents its new logo during a press event in a maintenance hangar of the airline at the airport in Frankfurt am Main, Germany February 7, 2018. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro ($10.14 billion) bailout deal for carrier Lufthansa (LHAG.DE), saying…

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Wall Street closes higher on signs of economic recovery

NEW YORK (Reuters) – Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected, five months into its pandemic-inflicted recession. All three major U.S. stock indexes posted their third consecutive daily gains. The Dow…

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Stocks and dollar gain on U.S. retail sales, drug trial

NEW YORK/LONDON (Reuters) – Risk appetite found new life on Tuesday on a record rebound in U.S. retail sales, fresh support from the Federal Reserve and Bank of Japan, and upbeat trial results for a COVID-19 treatment, driving global equity markets higher and boosting the dollar. U.S. Treasury yields rose, as did…

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