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U.S. bank profits plunge 70% on coronavirus loss provisioning

U.S. bank profits fell by 69.6% to $18.5 billion in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator.
U.S. bank profits plunge 70% on coronavirus loss provisioningU.S. bank profits plunge 70% on coronavirus loss provisioningU.S. bank profits plunge 70% on coronavirus loss provisioning
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Hilton to cut 2,100 corporate jobs globally

Hotel chain Hilton Worldwide Holdings Inc said on Tuesday it would cut about 22% of its corporate workforce, or 2,100 jobs, following the coronavirus outbreak that has ravaged the global travel industry.
Hilton to cut 2,100 corporate jobs globallyHilton to cut 2,100 corporate jobs globallyHilton to cut 2,100 corporate jobs globally
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China keen to seek benefits from pandemic, distressed U.S. assets: report

U.S. lawmakers and policymakers should be wary of China's moves to target vulnerable U.S. assets and expand its market share in the wake of the global economic crisis triggered by the novel coronavirus, according to a study prepared for a U.S. trade group and released on Tuesday.
China keen to seek benefits from pandemic, distressed U.S. assets: reportChina keen to seek benefits from pandemic, distressed U.S. assets: reportChina keen to seek benefits from pandemic, distressed U.S. assets: report
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Trump team prepares $1 trillion infrastructure plan to spur economy

The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world's largest economy back to life, a source familiar with the situation said on Tuesday.
Trump team prepares $1 trillion infrastructure plan to spur economyTrump team prepares $1 trillion infrastructure plan to spur economyTrump team prepares $1 trillion infrastructure plan to spur economy
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Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week - sources

Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.
Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week - sourcesExclusive: Chesapeake Energy to file for bankruptcy as soon as this week - sourcesExclusive: Chesapeake Energy to file for bankruptcy as soon as this week - sources
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