Australian retail giant Wesfarmers Ltd said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout.
Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, France's Finance Minister Bruno Le Maire said on Friday, while adding the carmaker also needed to adapt to the situation.
Vodafone , the world's second-biggest mobile operator, has recruited Jean-Francois Van Boxmeer, the current CEO of brewer Heineken , to succeed Gerard Kleisterlee as chairman from November this year.
Global shares tumbled on Friday as Hong Kong's political unrest returned as a flashpoint in fast-deteriorating U.S.-China relations, following Beijing's moves to impose a new security law on the city.
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
China's biggest automaker SAIC Motor expects the nation's auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
France's Finance Minister Bruno Le Maire said on Friday that Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.
Oil prices fell on Friday after China failed to set an economic growth target for 2020, sparking concerns that the fallout from the coronavirus pandemic will cap fuel demand in the world's second-largest oil user.
Global equity markets have shuffled up about 1% this month despite the world starting to re-open after the coronavirus-driven lockdowns and U.S. and European economic data showing glimmers of a recovery.
"You need to be open enough, especially for businesses that are ready to do volume, to make it worth it," said Chris Clayton.
Oil prices tumbled about 2% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
Unemployment rates rose and total employment fell in all 50 U.S. states and the District of Columbia in April as efforts to contain the coronavirus pandemic forced businesses to close across the country, the Labor Department said on Friday.
That extra $600 a week in federal aid that jobless workers currently receive in unemployment benefits will only last for a few months.
Organizers said Friday they were cancelling the 2020 New York auto show that had previously been pushed back until August, citing the ongoing coronavirus pandemic and the venue's use as a field hospital.
A group representing many major automakers on Friday said it was intervening in a lawsuit that says the Trump administration did not go far enough in weakening -- but not freezing -- Obama administration standards to revise fuel economy standards.