In just a week, Russia has to find ways to cut a fifth of its oil output under a deal to tackle the market glut and is looking at all options, including putting wells on repair and maintenance to abandoning them entirely and even burning oil, four oil industry sources said.
"Someone is going to beat this thing," CNBC's Jim Cramer said Thursday, suggesting a successful antiviral could be "more Tamiflu-like and less scary."
The financial auditors of Colombian airline Avianca Holdings have concluded that "substantial doubt" exists as to the company's ability to stay in business due to the coronavirus crisis, the carrier said.
Wall Street jumped 1% on Thursday as a third straight decline in weekly jobless claims raised hopes the worst of the coronavirus pandemic's impact on the labor market was over, while energy stocks zoomed 5% on a rebound in oil prices.
Traders on Robinhood and SoFi Invest rushed to buy the United States Oil ETF, which crashed this week and has lost more than 80% of its value this year.
Specialists appointed to try to save state-owned South African Airways (SAA) said on Thursday that they had no further funds for rescue efforts and that the two remaining options were a wind-down process or placing the company into liquidation.
Domino's Pizza Inc on Thursday pulled its long-term forecast and said international comparable sales fell 3.2% in the first three weeks of the current quarter as stores remain shut due to the coronavirus pandemic, sending its shares down about 5%.
Ziad Abdallah has watched with growing alarm as Lebanon's financial meltdown has threatened the savings he spent 25 years building up in his dollar account.
Hershey Co pulled its 2020 forecast on Thursday and warned of weak sales in certain categories as households worried about their financial futures cut spending on snacks and chocolates.
Some workers in Georgia and other U.S. states prepared to go back to work for the first time in a month, as data released on Thursday showing soaring unemployment claims reaffirmed the grim economic toll of the coronavirus pandemic.
Air France-KLM Chief Executive Ben Smith said on Thursday he had given up his 2020 bonus, after a Dutch minister urged executive pay restraint in return for the billions of euros in government aid sought by the airline group.
Sales of new U.S. single-family homes dropped by the most in more than 6-1/2 years in March and further declines are likely as the novel coronavirus outbreak batters the economy and throws millions of Americans out of work.
As financial conditions tighten, credit card issuers have begun lowering credit limits, sometimes without notice.
Lufthansa is aiming to finalise a state aid rescue package worth up to 10 billion euros ($10.8 billion) next week after the coronavirus crisis forced it to ground almost all of its planes, people close to the matter said.
Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by crashing global prices and slumping fuel demand during the coronavirus pandemic, two industry sources told Reuters.