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Tehran Cautiously Reopens as Economic Hardship Trumps Virus Risks

Iran has allowed some shuttered Tehran businesses to reopen despite the Middle East's deadliest coronavirus outbreak, as many faced a bitter choice between risking infection and economic ruin.

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Hungry, Jobless Americans Turning to Food Banks to Survive Pandemic

American families slammed by the coronavirus pandemic are turning more and more to food banks to get by, waiting hours for donations in lines of cars stretching as far as the eye can see.

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IMF, World Bank Pledge Help amid Calls for More Debt Relief

The 189-nation International Monetary Fund and its sister lending agency, the World Bank, on Friday pledged to step up their efforts to cushion the blow to the global economy from the coronavirus pandemic.

The two agencies' assurance came at the end of their spring meeting where they heard calls for them to provide more debt relief to poorer nations being battered by the health crisis.

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European Stocks Fizz Higher at Open

Europe's stock markets rallied in opening deals Friday on news that China's economy has not been hit as badly as feared by the deadly novel coronavirus outbreak.

Sentiment was also bolstered by overnight Wall Street gains after US President Donald Trump laid out guidelines for a gradual reopening of the economy. 

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Official Says Will Take 'a Year or Two' before U.S. Economy Recovers

The United States will take "a year or two," if not longer, to recover from the devastating economic impact of the coronavirus, a top Federal Reserve official said Thursday.

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Stocks Buoyed by Plans to Lift Lockdowns

European stock markets mostly climbed on Thursday as investors focused on plans to ease some coronavirus lockdown restrictions, while the dollar rose as well.

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U.S. Says G7 to Collaborate on Economy Reopenings

G7 leaders agreed Thursday to coordinate the reopening of their economies after the coronavirus pandemic and to ensure "trusted supply chains" in the future, the White House said.

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China, Europe Show Restarting Virus-Hit Economies Not Easy

As countries consider how to restart their virus-halted economies, the early experiences in China and parts of Europe show it will be no easy task.

Workers back on the job are wary of spending much or going out. Shoppers are staying away from the few stores reopening. Masks and social distancing measures are not fading. And pervasive is the fear the coronavirus could return if lockdowns meant to stop its spread are eased too much, too quickly.

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Oil Giant Shell Vows to Become Carbon Neutral by 2050

Anglo-Dutch oil giant  Royal Dutch Shell on Thursday pledged to become carbon neutral by 2050, matching a commitment by rival BP.

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Oil Near 18-Year Low on Demand Devastation Warning

Oil languished at multi-year lows on Thursday, with WTI crude remaining around $20 a barrel as dire warnings about a virus-triggered demand shock overshadowed a deal to cut output.

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