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IEA Says Oil Market Fragile, Cites Virus Restrictions

The International Energy Agency warned Thursday the world oil market remains fragile, despite a recent recovery in prices, as tighter restrictions are imposed to curb  more contagious coronavirus variants. 

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LVMH Suspends Rihanna's Fashion House

French luxury giant LVMH announced Wednesday that it was suspending popstar Rihanna's ready-to-wear fashion line that she launched in 2019, to focus on the cosmetics and lingerie parts of her brand Fenty. 

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Air France Must Trade Slots for Aid, Says Ryanair

Europe's leading airline, Ryanair, urged Wednesday that Air France be forced to give up lucrative French airport slots if it receives more state aid.

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GM Reports Higher Profits, Sees Limited Hit from Chip Shortage

Strong U.S. demand for trucks and SUVs boosted General Motors' fourth-quarter profits and the company on Wednesday projected higher 2021 operating earnings despite up to a $2 billion hit from the global semiconductor shortage.

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U.S. Stocks Strike Record Highs, Oil Hits 13-Month Peaks

U.S. stocks struck fresh record highs Wednesday as trading got underway amid stimulus hopes, while oil prices hit 13-month highs.

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Russia Eyes Measures to Tackle Migrant Labor Shortage

Russia said Wednesday it was looking to simplify entry requirements for migrant workers, to aid industries like construction and agriculture that are facing labor shortages due to the pandemic.

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Virus Deals Biggest Blow to German Exports since 2009

German exports fell more than 9.0 percent in 2020, official data showed Tuesday, with the coronavirus pandemic sparking the biggest drop in over a decade for Europe's biggest economy.

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Brent Breaks $60 a Barrel on Oil Demand Recovery Hopes

Brent oil prices Monday shot past $60 a barrel for the first time in more than a year Monday with investors growing increasingly optimistic about demand as the global economy recovers from the coronavirus pandemic.

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Oil Giant Shell Dives into $21.7 bn Loss in 2020 

Royal Dutch Shell dived into a net loss of $21.7 billion in 2020, the oil giant announced Thursday, as the coronavirus pandemic slashed global energy demand.

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Hong Kong Stocks End Down after Three-day Rally

Hong Kong stocks fell Thursday as investors took a breather following a healthy three-day rally, with tech firms hurt after Joe Biden's nominee as commerce secretary indicated she would not remove telecoms giant Huawei from a US trade blacklist.

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