The U.S. Federal Reserve's balance sheet soared past $5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus pandemic.
Gap Inc on Thursday withdrew its full-year forecast issued just two weeks ago, suspended its dividend and said it will draw down on its entire $500 million credit facility as the apparel retailer looks to weather the coronavirus crisis.
European lawmakers overwhelmingly agreed on Thursday to suspend until Oct. 24 a rule requiring airlines to use at least 80% of their flight slots to keep them the following year so as to ease an industry crisis unleashed by the coronavirus pandemic.
After closing stores around the world to curb the spread of the coronavirus, retailers are now telling some vendors to immediately cancel orders.
General Motors Co said Thursday it will extend a shutdown of its North American plants beyond March 30, but added it does not know when it will restart operations.
A Wall Street rally led global gains in stocks on Thursday despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate and the possibility of more stimuli to come.
Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back.
A move by Brazil's Petrobras on Thursday to slash output, capital spending and dividends brings the state-run oil firm into alignment with global rivals confronted with a global pandemic and a plunge in crude prices.
With encouragement from the Federal Reserve, U.S. banks have turned to a long-shunned lending facility known as the discount window to borrow $50.8 billion, according to data the central bank released on Thursday.
Home healthcare providers, the lifelines to 12 million vulnerable Americans, are scrambling to decide how to serve patients who show symptoms of coronavirus -- and how to ensure that the providers themselves neither catch nor spread it.
Singapore Airlines Ltd said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return.
"Fortunes are going to be made out of this time," personal finance expert Suze Orman told CNBC on Thursday.
The U.S. Justice Department has approved United Technologies Corporation's planned merger with Raytheon Co , subject to conditions, the agency said on Thursday.
Lululemon Athletica Inc beat analysts' estimates for quarterly results on Thursday, lifted by strong holiday season demand, but the athletic apparel maker did not provide a full-year forecast as the coronavirus outbreak fuels uncertainty.
Leaders of the U.S. House of Representatives are determined to pass a $2.2 trillion coronavirus relief bill on Friday, or at the very latest on Saturday, hoping to provide the quickest help possible as deaths mount and the economy reels.