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French Economy Shrinks 6% in Q1, Says Bank of France

In its worst performance since 1945, the French economy shrank around six percent in the first quarter of this year as the coronavirus pandemic decimated business activity, the Bank of France said Wednesday.

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Oil Rebounds as Hopes Grow for Output Cut Deal

Oil prices rebounded Wednesday as traders jockey for position ahead of a key producers' meeting this week aimed at cutting output to support coronavirus-hit energy markets.

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Asian Markets Mostly Down as Traders Fret over Virus

Most Asian equities retreated Wednesday after a two-day rally as investors closely track developments in the coronavirus crisis, while the oil market continued to fluctuate ahead of a crucial producers' meeting.

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EU to Debate Strategy to Exit Virus Lockdown

The European Commission will on Wednesday consider how to craft a plan to ease the bloc out of a virus lockdown that has dealt a body blow to the economies of EU members.

Commission president Ursula von der Leyen will hold an "orientation debate" with commissioners by videoconference, after some EU countries announced they were already planning to relax measures.

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SGBL to Allow Electronic Change of Account Currency as of Wednesday

Lebanon’s SGBL bank on Tuesday announced a second initiative addressed at small depositors, in line with the central bank’s latest circular on exchange rates and withdrawal limits.

“Our bank would like to assure that, as of the morning of Wednesday, April 8, 2020, it will begin implementing (the central bank’s circular) through an easy electronic process, to the benefit of all small depositors who have accounts containing up to LBP 5 million or $3,000,” it said in a statement.

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Asia Markets Extend Gains on Glimmers of Hope in Virus Fight

Equities rallied again Tuesday as investors seized on signs of a slowdown in the spread of the coronavirus in key hotspots and some governments began making plans to ease restrictions aimed at containing the disease.

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Oil Prices Rebound on Hopes for Output Cut Deal

Oil prices rebounded Tuesday on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market.

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Oil Prices Fall as Doubts Grow over Output Cut Deal

Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets.

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Boeing Extends Factory Shutdown in Washington State

Boeing has said it will indefinitely extend a shutdown at its factories in Washington state because of the coronavirus pandemic.

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Spain's PM in Plea for 'Coronabonds' Crisis Funding

Spanish PM Pedro Sanchez urged the EU Sunday to issue "coronabonds," controversial pooled debt instruments to help the bloc's hardest hit countries fund their battle against the devastating economic impact of the pandemic.

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