Amazon.com Inc is postponing its major summer shopping event Prime Day at least until August and expects potentially a $100 million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
3M Co said on Friday it would make more face masks for the United States to fight the coronavirus pandemic, but warned of the "humanitarian implications" of limiting supply to other countries as President Donald Trump directed.
Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30% in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and hospital operators the firm has invested in.
Cisco Systems Inc's video-conferencing app Webex registered a record 324 million attendees in March, with usage more than doubling in the Americas, as the coronavirus-led lockdowns forced businesses to have employees work from home.
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Russian Energy Minister Alexander Novak said on Friday that the United States has legal restrictions on oil output cuts, but the country should be flexible with them, RIA news agency reported.
U.S. employment numbers will get worse amid the ongoing coronavirus outbreak before getting better, Richmond Federal Reserve President Thomas Barkin said in an interview with Bloomberg News.
Wall Street's main indexes fell on Friday as the coronavirus abruptly ended a record U.S. job growth streak of 113 months, leaving little doubt that the economy is in a recession.
American Airlines, the largest U.S. airline, confirmed Friday it has applied to the U.S. Treasury for a chunk of the $25 billion payroll assistance grants approved by Congress last week.
Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets.
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JPMorgan Chase & Co , the largest U.S. lender by assets, started accepting at Friday midday applications for loans from the federal government's paycheck protection program, according to a post on the bank's website.
President Donald Trump hailed one of the country's largest banks, as well as many small lenders, for making small business emergency loans on the first day of a new U.S. coronavirus economic relief program.
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, while also waiting to see what action the United States would take as President Donald Trump met with oil companies on Friday.
Canada has signed an agreement with Amazon Canada to manage the distribution of medical equipment like masks, gloves and ventilators purchased by the Canadian government to help in its fight against the cornonavirus outbreak, Prime Minister Justin Trudeau said on Friday.