After a widely expected and sharp drop in the U.S. economy over the next three months, a panel of top business economists sees high joblessness persisting for more than a year in an outcome that would douse hopes for a quick, post-pandemic return to normal.
U.S. electric vehicle maker Tesla Inc said on Friday it has started China sales of two lower-priced Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax.
Russian President Vladimir Putin, U.S. President Donald Trump and Saudi Arabia's King Salman, discussed the OPEC+ oil group meeting in a phone call on Friday and confirmed their aim was to stabilise the global oil trade, the Kremlin said.
Renault Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros ($4.4-$5.4 billion).
The huge cost of the coronavirus pandemic is upending Japan's seven-year experiment to rescue the economy from its debt timebomb, as recession fears prompt calls for "helicopter money" - unlimited spending bankrolled by the central bank.
U.S. electric vehicle maker Tesla Inc said on Friday it has started China sales of two more Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax.
François-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering , has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis.
Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts.
Airbus has shelved plans to create a new assembly line in Toulouse, France, for its A321 airliner as the company wrestles with the coronavirus crisis.
U.S. President Donald Trump said on Thursday he has directed his agriculture secretary to expedite help to farmers, especially small farmers, hurt by the economic disruption caused by the new coronavirus outbreak.
Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts.
Nissan Motor Co Ltd's management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said.
Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%.
Russian President Vladimir Putin said on Friday he was planning to hold new talks on oil prices after phone calls with U.S. President Donald Trump and the leadership of Saudi Arabia, TASS news agency reported.
The economy is taking a beating, but people committed to financial independence are staying put for now.