Latest News on private equity markets

JPMorgan is the latest financial firm to report its first cases of coronavirus as Gov. Cuomo takes steps to address the pandemic.

Warren Buffett's Berkshire Hathaway Inc said on Friday that Microsoft Corp co-founder Bill Gates is retiring from the conglomerate's board of directors, and is expected to be replaced by Kenneth Chenault, who spent 17 years as chief executive of American Express Co .

The International Monetary Fund on Friday advised all staff at its Washington, D.C., headquarters to work from home until further notice after an employee was diagnosed with COVID-19, the disease caused by the coronavirus, an IMF spokesman said.

Interest rate cuts won't cure the coronavirus but investors are still hoping the Federal Reserve can take some actions to help soothe the roiled stock market.

JPMorgan Chase and Co said on Friday two employees at its headquarters in New York City have contracted the coronavirus.

The dollar surged on Friday, posting sharp gains against the safe-haven Japanese yen as stock markets recovered globally and investors cheered efforts by governments and policymakers to address the economic fallout from the coronavirus outbreak.

Oil prices on Friday posted their biggest week of losses since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply.

U.S. President Donald Trump declared a national emergency over the quickly spreading coronavirus on Friday, opening the door to more federal aid to combat a disease that has infected over 138,000 people worldwide and left more than 5,000 dead.

Fiat Chrysler Automobiles NV said production at its assembly plant in Windsor, Ontario, which was halted for 24 hours after an employee contracted the coronavirus, has resumed on Friday afternoon.

Microsoft Corp co-founder Bill Gates has stepped down from the company's board to dedicate more time to his philanthropic priorities including global health, education and tackling climate change, the company said on Friday.

A group representing major U.S. airports on Friday revised upward its forecast for estimated losses this year to $5.7 billion after President Donald Trump instituted new European travel curbs and as flight reductions rose.

As Americans hole up at home to wait out the coronavirus pandemic, fewer people are going out to eat, leading some fast food chains to cut delivery fees and meal delivery platforms to suspend commissions.

Poland will ban foreigners from entering the country from Sunday and impose a 14-day quarantine on its citizens returning home in a bid to curb the spread of coronavirus, Prime Minister Mateusz Morawiecki said on Friday.

The United States will suspend travel from certain European countries for 30 days beginning at midnight on Friday as part of an effort to stem the spread of the coronavirus.

Wall Street staged a furious rally in the waning moments of the session on Friday after U.S. President Donald Trump declared a national emergency to combat the rapidly spreading coronavirus, although major averages still suffered sharp losses for the week.