Gilead Sciences Inc on Friday increased enrollment target by 3,600 for a trial testing its experimental drug, remdesivir, in severe COVID-19 patients, a day after a media report said the drug was showing promise.
Ford Motor Co on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter.
An official charged with overseeing how the U.S. government handles $500 billion in bailout funds said on Friday he will also monitor how companies use the cash, including for share buybacks, dividends and staff compensation.
Virgin Atlantic has been told to resubmit its proposal for a 500 million pound ($625.35 million) coronavirus bailout package after the UK government was left unimpressed with its initial bid, Financial Times reported (https://on.ft.com/2xD3Ee5) on Friday.
A U.S. judge on Friday put on hold a suit by Amazon.com Inc challenging the Pentagon's decision to award a $10 billion contract to Microsoft Corp .
Norwegian Cruise Line Holdings Ltd has hired investment bank Goldman Sachs Group Inc to explore financing options that could include the sale of a stake in the company, people familiar with the matter said on Friday.
Over two frantic weeks, the U.S. government pledged $350 billion to Main Street businesses across America desperate for cash after coronavirus lockdowns.
"I think where we have to focus right now is let's take care of the little guys. They're critical to this economy," Tom Donohue told CNBC.
Hong Kong's Cathay Pacific Airways Ltd will close its three cabin crew bases in the United States, the airline said on Friday, laying off 286 staff as the coronavirus pandemic has virtually halted global travel.
China's economy shrank for the first time in almost three decades of records in the first quarter, as the coronavirus paralysed production and spending, raising pressure on authorities to do more to stop mounting job losses.
China's economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
China's daily crude oil throughput in March sank to a 15-month low with state refiners maintaining deep output cuts as the coronavirus pandemic erodes demand, but there are some signs of recovery as the country begins to ease virus-related curbs.
Man GLG, the discretionary investment arm of asset manager Man Group , has hired Andrew Swan from rival BlackRock to lead its Asia ex-Japan equities business, it said on Thursday.
Millions more Americans likely sought unemployment benefits last week, lifting total filings for claims over the past month above an astounding 20 million, which would underscore the deepening economic slump caused by the novel coronavirus outbreak.
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus outbreak.