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China cuts benchmark lending rate as economy struggles to shake off virus shock

By Winni Zhou and Stanley White SHANGHAI/TOKYO (Reuters) – China cut the benchmark lending rate on Thursday, as widely expected, as the authorities move to lower financing costs for businesses and support an economy jolted by a severe coronavirus outbreak. The epidemic has upended global supply chains and caused widespread disruption to businesses and factory […]

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Trump adviser Stone to be sentenced in case that has roiled Washington

By Sarah N. Lynch and Jan Wolfe WASHINGTON (Reuters) – President Donald Trump’s long-time adviser Roger Stone is set to be sentenced on Thursday after being convicted on charges including lying to a congressional panel investigating Russian interference in the 2016 U.S. election in a case that has roiled the Justice Department and drawn Trump’s […]

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Shares of HNA affiliates rally after report of China bailout plan

By Zoey Zhang and Brenda Goh BEIJING/SHANGHAI (Reuters) – Shares in affiliates of HNA Group surged on Thursday following a news report that China plans to take over the debt-laden conglomerate as the coronavirus outbreak has further hit its ability to meet financial obligations. The government of the southern province of Hainan, where HNA [HNAIRC.UL] […]

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Israel’s Wix.com sees 2020 revenue reaching almost $1 billion

By Steven Scheer TEL AVIV (Reuters) – Wix.com, which helps small businesses build and operate websites, reported a smaller-than-expected decline in fourth-quarter net profit and forecast a revenue rise of about 25% this year to nearly $1 billion as it expands into the professional web creator market. Israel-based Wix reported on Thursday a quarterly net […]