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American Airlines holds first civilian passenger flight of 737 MAX in nearly two years

By Tracy Rucinski DALLAS (Reuters) - Boeing (NYSE:BA) Co's 737 MAX on Wednesday will make its first public demonstration flight with members of the media since being grounded over fatal crashes, as one of its biggest customers, American Airlines (NASDAQ:AAL), seeks to prove it is safe for passengers. The flight from the airline's...

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UK government looking at conduct of Arcadia directors – PM Johnson

LONDON (Reuters) - British Prime Minister Boris Johnson said on Wednesday the conduct of directors of collapsed fashion group Arcadia will be examined. "The secretary of state for business, enterprise and skills (Alok Sharma) has written to the Insolvency Service to look at the conduct of the Arcadia directors," Johnson told parliament. Arcadia, owned by Philip Green, entered administration on Monday, threatening...

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EU banking watchdog revives relief measures for COVID-hit loans

By Huw Jones LONDON (Reuters) - European Union regulators have revived guidance to allow banks to grant a new round of loan repayment holidays to coronavirus-hit customers without triggering a big surge in provisioning that would crimp the flow of credit. The European Banking Authority (EBA) said that, due to the second wave of COVID-19 infections, guidance for banks that expired on...

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Germany readies TUI bailout package with non-active equity – sources

FRANKFURT/BERLIN (Reuters) - Germany is readying a third bailout package for pandemic-hit holiday group TUI (LON:TUIT) which will see the government's new economic stabilisation fund WSF take a stake in the company, two people familiar with the matter said on Wednesday. The rescue offer will consist mainly of equity and hybrid capital dubbed silent participation, but also include loans again and guarantees,...

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Volkswagen’s Hitzinger says complexity of new cars to drive consolidation

FRANKFURT (Reuters) - The auto industry faces a new wave of consolidation as cars become electric, connected and add highly automated driving functions, Alexander Hitzinger, head of Volkswagen (DE:VOWG_p)'s Project Artemis said on Wednesday. "There will be consolidation. Not everybody will be able to afford these complex platforms. We will see emerging a smaller number of very large players who will...

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Daily Briefing: Comfort and joy!

By Sujata Rao and Thyagaraju Adinarayan Hat tip to Rabobank for their description of yesterday's session - "Tidings of comfort and joy". Those tidings consisted of more positive news on the coronavirus vaccine front, on Brexit talks and on a possible bipartisan U.S. spending package proposal of almost $1 trillion. The joy...

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London stocks subdued as Brexit fears offset first vaccine approval

(Reuters) - London-listed shares were muted on Wednesday as fears about a no-deal Brexit overshadowed news that the UK had become the world's first country to approve the Pfizer-BioNTech COVID-19 vaccine. The blue-chip FTSE 100 was flat and the mid-cap FTSE 250 down 0.4% even as the government said the vaccine would be rolled out from early next week. The FTSE 100...

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European shares dip; UK vaccine approval limits losses on FTSE 100

(Reuters) - European shares slipped on Wednesday as investors took stock following a near 14% rally last month, while shares in BioNTech surged after UK became the first country to approve its COVID-19 vaccine developed with Pfizer (NYSE:PFE). London's blue-chip index outperformed regional peers, losing just 0.1% after Britain said the vaccine will be rolled out from next week. BioNtech's...

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