U.S. Treasury Secretary Steve Mnuchin said on Friday that the coronavirus economic stimulus bill before Congress is not an airline bailout and that taxpayers will be compensated for relief given to companies hobbled by the global pandemic.
Lufthansa has applied for short-time work for around 31,000 crew and ground staff at its core brand until the end of August, a spokesman said on Friday, as Germany's flagship carrier has slashed flights due to the coronavirus outbreak.
U.S. stock indexes fell sharply at the open on Friday, following the S&P 500 and the Dow's best three-day run in nearly a century, as fears about the economic damage from the rapidly spreading coronavirus returned to the forefront.
A raft of programs from the U.S. central bank and a $2 trillion rescue bill nearing approval in Congress are aimed at providing relief during a "self-mandated" recession "so that when the virus is defeated we can walk, we can run, and then we can sprint out of this," Dallas Federal Reserve bank President Robert Kaplan said on Friday.
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.
Polish fashion retailers may not survive the coronavirus crisis if the government, banks and shopping mall owners do not help them bear the costs, a lobby group said on Friday, as Poland closed non-essential shops to stop the spread of the virus.
Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.
European Central Bank chief Christine Lagarde urged wrangling EU leaders to act more decisively to cushion the economic hit of the coronavirus pandemic, three sources familiar with the matter said on Friday, as the bloc feuds over how far to go.
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E-commerce companies including Amazon and Flipkart are facing disruption in India just three days into a lockdown to fight the coronavirus pandemic, despite government assurances they would not, sources familiar with the matter said on Friday.
Wall Street fell more than 3% on Friday, following the S&P 500 and the Dow's best three-day run in nearly a century, as fears about the economic damage from the coronavirus pandemic returned to the forefront.
What you should do depends on your age and where you stand financially, says Ric Edelman, founder and chairman of Edelman Financial Engines, ranked the No. 1 top registered financial advisory firm by Barron's in 2019.
Defense contractor Lockheed Martin Corp said on Friday that it would advance more than $50 million to suppliers hurt by a sharp economic slowdown caused by efforts to stop the coronavirus.
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.
"The idea that my appearance pushed the market down an additional 4% that day is absurd," Ackman told investors on Thursday.