Oil prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of oil producers to deal with the market turmoil.
Honda Motor Co said Thursday it will extend a shutdown of all U.S. and Canadian auto plant production through April 10 and at its plant in Celaya, central Mexico, until April 13, because of the ongoing coronavirus outbreak.
States are being inundated with record jobless claims and have scrambled to institute new policies, procedures and technology to manage the surge.
The U.S. Secret Service this week warned law enforcement and banks about malicious emails related to COVID-19 and said corporations should be on alert.
Some workers have been harder hit than others, and their climb back up could take years, an analysis from Payscale found.
U.S. stocks rose on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut oil output drove gains, helping to offset the shocking jump in Americans filing for jobless claims due to coronavirus-led lockdowns.
The U.S. recession is here. How long it will last will depend on the course of a viral pandemic that could still kill hundreds of thousands of Americans, and has most of the country under lockdowns aimed at slowing the infection's spread.
The German government stands ready to take over Condor as a deal for the airline to be bought by Polish rival LOT is likely to collapse in the industry turmoil caused by the coronavirus crisis, several people familiar with the matter told Reuters.
Whiting Petroleum Corp said on Wednesday it had started Chapter 11 bankruptcy proceeding amid a rout in crude oil prices that has seen fuel plunge to 18-year lows.
German sportswear maker Adidas apologizes on Wednesday for saying it would stop paying rent for stores around the world forced to close by coronavirus lockdowns after a storm of criticism, saying it would pay up for April after all.
"Whatever cash you have, divide it over five installments," Mohamed El-Erian told CNBC on Wednesday, suggesting dollar cost averaging into the market over several months.
Oil fell towards $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns.
As companies cut dividends in response to the financial havoc caused by the coronavirus, fund managers whose portfolios rely on the payouts are sifting for those most likely to deliver a sustainable yield when the world recovers.
George Milling-Stanley, who was involved with a group that helped create the SPDR Gold Trust, discusses how the precious metal is trading in the coronavirus pandemic.
The European Commision proposed a short-time work scheme on Wednesday modelled on Germany's Kurzarbeit programme to help people keep their jobs as the coronavirus pandemic hits economies across the 27-nation bloc.