Global airlines less hopeful on COVID-19 recovery

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Global airlines cut their coronavirus recovery forecast on Tuesday, saying it would take until 2024 - a year longer than previously expected - for passenger traffic to return to pre-crisis levels. In an update on the pandemic’s crippling…

McDonald's global sales suffer

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McDonald’s Corp on Tuesday reported a broad drop in global same-store sales and missed profit expectations, as its restaurants were shut due to the COVID-19 pandemic, limiting operations to only drive-thru and delivery. Shares of the Chicago-based…

Gold hits record

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Global equity benchmarks edged higher and gold soared to an all-time high on Monday as investors weighed expectations for another U.S. stimulus package against concerns that rising tensions between the United States and China will the slow the…

Tunisia president designates new PM

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Tunisian President Kais Saied designated the interior minister as the new prime minister to succeed Elyes Fakhfakh, who resigned over allegations of a conflict of interest. New premier Hichem Mechichi, 46, an independent, now has a month…

Trump acts to cut prescription drug prices in US

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President Donald Trump has signed four executive orders aimed at cutting prescription drug prices in the US. "The four orders I'm signing today will completely restructure the prescription drug market," said Mr Trump, who has long criticised…

UK PM Johnson: We'll be past coronavirus by mid-2021

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British Prime Minister Boris Johnson said on Friday he thought the country would be through the coronavirus crisis by mid-2021 but feared there may be a second spike that could overwhelm the health service. “Whether it came from... a bat,…

U.S., Russia to hold first space security talks since 2013

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The United States and Russia next week will conduct their first formal, bilateral talks on space security since 2013, following a U.S. allegation that Russia tested a space-based anti-satellite weapon this month, a U.S. official said on Friday. Washington…

Intel's next-generation chips delayed until 2022

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Intel says the production of its next-generation chips will be set back until 2022, following years of delays getting its current-generation chips on sale. The company said it was exploring "contingency plans" such as having third-party manufacturers…

Erdogan joins thousands to pray at Hagia Sophia

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Turkey’s President Tayyip Erdogan joined huge crowds for the first prayers at Hagia Sophia in nine decades, sealing his ambition to restore Muslim worship at an ancient site long revered in both Christianity and Islam. After the call to…

Netflix warns of slowdown after subscriber surge

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Netflix has seen a surge in sign-ups due to the coronavirus lockdown, but has warned investors that subscriber growth will slow. The streaming giant added more than 10 million subscribers in the three months to July, bringing the total of…

Australia extends jobs support

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Australia will spend A$16.8 billion ($11.8 billion) to extend its wage subsidies for businesses hit by the coronavirus pandemic, as a surge in new infections in the country’s southeast threatens to keep the economy in recession. The six-month…

Oman to impose curfew, travel bans for Eid holiday

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Oman will ban travel between all its governorates from July 25 to Aug. 8, a period that includes a Muslim holiday, to prevent the spread of the new coronavirus, state news agency ONA said on Tuesday. A statement from the Health Ministry described…

Saudi king in stable condition after being admitted to hospital

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Saudi Arabia’s King Salman is in stable condition, three Saudi sources said, after the 84-year-old monarch was admitted to hospital in the capital Riyadh with what state media said was inflammation of the gall bladder. The king, who has…

Pompeo says talked 5G, trade with British PM Johnson

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U.S. Secretary of State Mike Pompeo said he discussed 5G telecommunications and a potential U.S.-UK trade deal with British Prime Minister Boris Johnson, during a trip to London. “Constructive visit with @BorisJohnson today,” Pompeo tweeted. “Our…