The number of Americans seeking unemployment benefits in the last three weeks has topped 15 million, as weekly new claims topped 6 million for the second straight time last week as tough measures to control the novel coronavirus outbreak abruptly ground the country to halt.
Hyundai Motor Co's Czech plant plans to restart on April 14 after a three-week production outage as part of efforts to fight the coronavirus, becoming the first of the three major carmakers in the central European country to resume work.
JPMorgan is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document, as banks brace for a borrowing spree in the Gulf due to low oil prices.
Venture capital firm Index Ventures said on Thursday it had raised $2 billion for early-stage and growth investments, backing entrepreneurs it reckons will lead the way out of the economic slump caused by the coronavirus pandemic.
The pandemic sweeping the world will turn global economic growth "sharply negative" in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
"This is what is needed because we've got to fight off a depression," CNBC's Jim Cramer said.
Partnerships between startups and established companies can be beneficial for both parties. Here’s why, how to choose a good partner, and tips for getting on a company’s radar. Continue reading
The U.S. Federal Reserve on Thursday rolled out a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
The Federal Reserve will continue to use all the tools at its disposal until the U.S. economy begins to fully rebound from the harm caused by the novel coronavirus outbreak, Fed Chair Jerome Powell said on Thursday, even as he acknowledged the limits of the central bank's powers.
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.
Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC+ of 10 million barrels per day (bpd) would be sufficient to balance markets.
OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters.
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy back going again when the time is right, a senior administration official said on Thursday.
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
Faced with layoffs, furloughs or cuts in pay, many Americans have been forced to find ways to still pay their bills.