The United States Oil Fund, which invests in oil futures contracts, was guaranteed to be a losing bet over time, but retail investors piled into the exchange-traded fund, perhaps believing it was a bet on the spot price of oil.
Credit card issuer American Express Co posted a 76% drop in first-quarter profit on Friday, as it set aside $2.6 billion to cover potential losses stemming from the coronavirus outbreak.
Thailand’s budget and full-service carriers are seeking soft-loans worth 25 billion baht ($770.65 million) from the government to support their businesses amid the coronavirus outbreak, an airline executive said on Friday.
Luxury brand Burberry will pay all its staff globally even if they are unable to work due to coronavirus crisis store or site closures, adding on Friday it will not tap a government support scheme in Britain.
Verizon Communications Inc withdrew its full-year revenue outlook on Friday as it lost 68,000 phone subscribers who pay a monthly bill in the first quarter amid lockdowns that closed 70% of its stores.
The United States Oil Fund, which invests in oil futures contracts, was guaranteed to be a losing bet over time, but retail investors piled into the exchange-traded fund, perhaps believing it was a bet on the spot price of oil.
Norway's parliament voted through a new company restructuring law on Friday that could help save Norwegian Air and many other companies from potential bankruptcy as a result of the restrictions to stem the spread of COVID-19.
Furniture brand IKEA's main retail vehicle said on Friday shoppers were returning quickly to its shopping centres after it reopened three in China last week, and one in Germany this week - its first four to open after closures due to the coronavirus.
As the economy shut down, businesses diverted spending to technology, while cutting back more broadly, including on payments to suppliers.
After another disappointing EU summit, the European Central Bank finds itself in a familiar position as the leading saviour of the euro, once again being called upon to push out its boundaries while politicians bicker.
A side hustle can bring in some much-needed cash during the pandemic. These gigs allow for social distancing.
Nestle Chief Executive Mark Schneider warned on Friday against reading too much into the company's first-quarter results, which marked its best quarterly growth for nearly five years as customers stockpiled food to deal with coronavirus shutdowns.
Credit card issuer American Express Co posted a 76% drop in quarterly profit on Friday, as it set aside $1.7 billion to brace itself against potential non-payments due to a wave of coronavirus-led layoffs.
Singapore Telecommunications' (Singtel) subsidiaries have secured close to $3 billion in bank credit facilities, it said on Friday.
Georgia pushed ahead with its plan to become the first U.S. state to allow an array of merchants to reopen on Friday following a month-long shutdown to stanch the coronavirus outbreak, even though both U.S. President Donald Trump and health experts voiced disapproval.