Credit card issuer American Express Co posted a 76% drop in quarterly profit on Friday, as it set aside $1.7 billion to brace itself against potential non-payments due to a wave of coronavirus-led layoffs.
Nestle Chief Executive Mark Schneider warned on Friday against reading too much into the company's first-quarter results, which marked its best quarterly growth for nearly five years as customers stockpiled food to deal with coronavirus shutdowns.
A side hustle can bring in some much-needed cash during the pandemic. These gigs allow for social distancing.
After another disappointing EU summit, the European Central Bank finds itself in a familiar position as the leading saviour of the euro, once again being called upon to push out its boundaries while politicians bicker.
As the economy shut down, businesses diverted spending to technology, while cutting back more broadly, including on payments to suppliers.
Furniture brand IKEA's main retail vehicle said on Friday shoppers were returning quickly to its shopping centres after it reopened three in China last week, and one in Germany this week - its first four to open after closures due to the coronavirus.
Norway's parliament voted through a new company restructuring law on Friday that could help save Norwegian Air and many other companies from potential bankruptcy as a result of the restrictions to stem the spread of COVID-19.
The United States Oil Fund, which invests in oil futures contracts, was guaranteed to be a losing bet over time, but retail investors piled into the exchange-traded fund, perhaps believing it was a bet on the spot price of oil.
Verizon Communications Inc withdrew its full-year revenue outlook on Friday as it lost 68,000 phone subscribers who pay a monthly bill in the first quarter amid lockdowns that closed 70% of its stores.
Nestle reported a 4.3% rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Nescafe coffee to prepare for lockdowns caused by the coronavirus pandemic.
British luxury brand Burberry will continue to maintain base pay for all of its employees who are unable to fulfil their roles because of store or site closures, it said on Friday.
Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.
Oil prices climbed on Friday, adding to gains from earlier sessions after producers such as Kuwait said they would move to cut output and the United States approved another package to cope with the turmoil caused by the coronavirus outbreak.
The largest oil producer in North Dakota has halted most of its production in the U.S. state and notified some customers it would not supply crude after prices dived into negative territory this week, people familiar with the matter said.
Ryanair may have to lay off 10-20% of staff in the winter season as it will operate fewer flights due to the coronavirus crisis, Chief Executive Michael O'Leary said in a newspaper interview published on Friday.