Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.
Kraft Heinz Co has moved to halt production at three different plants because of a decline in demand stemming from the new coronavirus outbreak, its Chief Executive Miguel Patricio on Friday said in a video presentation hosted by Brazilian retail brokerage XP Inc .
The Treasury Department raised interest rates on its Paycheck Protection Program loans for small businesses and reduced their payback period.
Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coronavirus, though some warned the funds are "not enough."
The U.S. has asked banks to help it dole out at least $350 billion in loans to small businesses, part of the $2 trillion coronavirus stimulus law.
U.S. Treasury Secretary Steven Mnuchin said on Friday he expects all large U.S. banks to be participating in a newly launched, $350 billion small business coronavirus rescue loan program by next week, with community banks issuing most of the loans so far.
Warren Buffett's Berkshire Hathaway Inc said on Friday it has sold some of its stake in Delta Air Lines Inc .
Fiat Chrysler said on Friday it decided to postpone to late June its shareholders' meeting scheduled for April 16, as a consequence of the continuing coronavirus emergency.
Walmart Inc said on Friday it would limit the number of customers in a store at a time, starting April 4, to encourage social distancing among its customers.
Oil and gas producer Occidental Petroleum Corp said on Friday it appointed Robert Peterson as the company's new chief financial officer.
Bank of America Corp and JPMorgan Chase & Co are now accepting applications for federally backed small-business loans, a sign that big U.S. banks have warmed up to the relief program after initially resisting participation.
A union official said on Friday Exxon Mobil Corp is playing on economic uncertainty caused by the coronavirus pandemic in negotiations with workers at its Baytown, Texas, refinery.
U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear.
The U.S. Air Force has recommended the release of up to $924 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, according to a memo seen by Reuters and a source familiar with the situation.
The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett's equity portfolio at Berkshire Hathaway Inc , setting up the conglomerate for one of the largest quarterly losses ever by an American company.