A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
U.S. House Speaker Nancy Pelosi said on Thursday the country's smallest businesses need to be protected against the ravages of the coronavirus outbreak and pushed for $60 billion to be allocated to those enterprises in the next funding allocation.
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
UBS's most senior managers will each contribute the equivalent of three months' salary to fight the new coronavirus, Chief Executive Sergio Ermotti said on Thursday, as he cautioned over hopes for a swift recovery from the economic downturn caused by the epidemic.
Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC+ of 10 million barrels per day (bpd) would be sufficient to balance markets.
Volkswagen AG said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.
The Federal Reserve will continue to use all the tools at its disposal until the U.S. economy begins to fully rebound from the harm caused by the novel coronavirus outbreak, Fed Chair Jerome Powell said on Thursday, even as he acknowledged the limits of the central bank's powers.
The U.S. Federal Reserve on Thursday rolled out a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
Partnerships between startups and established companies can be beneficial for both parties. Here’s why, how to choose a good partner, and tips for getting on a company’s radar. Continue reading
"This is what is needed because we've got to fight off a depression," CNBC's Jim Cramer said.
The pandemic sweeping the world will turn global economic growth "sharply negative" in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
U.S. President Donald Trump said on Thursday he had a good conversation with Russian President Vladimir Putin and Saudi Arabia's King Salman and expected that OPEC and other countries would be announcing a deal soon.
Venture capital firm Index Ventures said on Thursday it had raised $2 billion for early-stage and growth investments, backing entrepreneurs it reckons will lead the way out of the economic slump caused by the coronavirus pandemic.
JPMorgan is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document, as banks brace for a borrowing spree in the Gulf due to low oil prices.