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LATAM airlines reports $2.12 billion first-quarter loss due to pandemic

LATAM Airlines, the largest Latin American air transport group, had losses of $2.12 billion in the first quarter after an accounting adjustment of its assets amid the coronavirus pandemic, the company said in a statement late on Friday.

Hong Kong officials say Trump 'completely wrong' to end city's special status

Hong Kong officials lashed out on Saturday at moves by U.S. President Donald Trump to strip the city of its special status in a bid to punish China for imposing national security laws on the global financial hub.

Lufthansa accepts tweaked demands by Brussels over state bailout

Lufthansa's management board has accepted a more favourable set of demands from the European Commission in exchange for approval of a 9 billion euro ($10 billion) government bailout, the carrier said on Saturday, paving the way for its rescue.

Britain to launch big stimulus package before summer - FT

Britain's government is planning to launch a big stimulus package before the summer with a focus on creating jobs and infrastructure projects to help drag the economy out of the coronavirus crisis, the Financial Times reported.

Fed's Powell fears second coronavirus wave, reiterates crisis-fighting pledge

Federal Reserve Chair Jerome Powell on Friday said a potential surge in U.S. coronavirus infections could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank's vow to keep fighting the crisis.

India's April infrastructure output contracted 38.1%

India's infrastructure output contracted 38.1% in April from a year earlier, data released on Friday showed.

Expert views: India's economy slows in March quarter, with worse to come

India's economy grew at its slowest pace in at least eight years in the January-March quarter as the COVID-19 pandemic weakened already sluggish consumer demand and investments.

India's 2019/20 fiscal deficit at 4.59% of GDP

India's fiscal deficit for the last financial year that ran through March, missed the government estimate by nearly 80 basis points, data released on Friday showed.

In rescue effort, Fed has broad stake in corporate America's fortunes

The U.S. central bank now has a stake in the fortunes of a broad swath of corporate America after buying about $1.3 billion (1.06 billion pounds) of bond funds with debt issued by firms in all walks of the world's biggest economy, from Apple Inc to a clutch of companies in bankruptcy.

Tencent in talks to buy Warner Music stake - WSJ

Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million (162.5 million pounds) in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported on Friday.

Italian magistrates target Uber Italia over alleged rider exploitation - sources

Italian magistrates have placed an Italian unit of Uber Technologies under special administration as part of an investigation into alleged exploitation of food delivery riders, three people familiar with the case said on Friday.

'Business is restarting' - German executives fly back to China

Scores of German business executives were due to return to China on Friday evening, beneficiaries of an accelerated entry procedure offered by Beijing as both countries seek to reignite their economies after months of lockdown.

Exclusive: Sanofi stops enrolling COVID-19 patients in hydroxychloroquine trials

Sanofi has temporarily stopped recruiting new COVID-19 patients for two clinical trials on hydroxychloroquine and will no longer supply the anti-malaria drug to treat COVID-19 until concerns about safety are cleared up, it said on Friday.

Lyft violates Washington DC sick day law during pandemic, lawsuit claims

Lyft Inc was sued on Friday by a former driver who accused the ride-sharing company of failing to provide required paid sick leave to drivers in Washington, D.C., a policy she said could fuel the spread of the coronavirus.

Exclusive: U.S. warns governments, firms against aiding Iran fuel shipments to Venezuela - envoy

Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions if they aid the tanker flotilla, the U.S. envoy on Venezuela told Reuters on Friday.

U.S. senators urge probe of TikTok on children's privacy

Four U.S. senators, including a China hawk, urged the Federal Trade Commission on Friday to investigate allegations that the popular video app TikTok violated a consent decree protecting children's privacy.

Trump administration to study ways to protect for U.S. investors from Chinese firms

The Trump administration will study ways to safeguard Americans from the risks of investing in Chinese companies, U.S. president Donald Trump said on Friday, ratcheting up pressure on the firms to comply with U.S. accounting and disclosure rules.

UK helps employers with slow phase-in of job shield costs

British finance minister Rishi Sunak offered fresh help to employers hammered by the coronavirus shutdown on Friday in the form of a gradual phase-in of contributions by them to the government's hugely expensive wage subsidy scheme.

Exclusive: Zoom plans to roll out strong encryption for paying customers

Video conferencing provider Zoom plans to strengthen encryption of video calls hosted by paying clients and institutions such as schools, but not by users of its free consumer accounts, a company official said on Friday.

Explainer: How important is Hong Kong to China as a free finance hub?

Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy.

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