Norway's sovereign wealth fund, the world's largest, named a London-based hedge fund manager as its new chief executive on Thursday and said it had lost $124 billion this year as stock markets tanked due to the coronavirus pandemic.
Americans should receive direct deposits for financial aid within three weeks as soon as the coronavirus economic relief bill is signed into law, the U.S. Treasury Secretary said, adding that the record jobless claims announced on Thursday "are not relevant."
Japanese conglomerate Mitsubishi Corp could potentially take a 10% stake in French carmaker Renault as part of scenarios being discussed to reinforce an alliance between Renault, Nissan and Mitsubishi Motors, Les Echos newspaper reported on Thursday.
Construction and mining equipment maker Caterpillar Inc said on Thursday it was suspending operations at some facilities and withdrawing its 2020 outlook as it struggled with the impact of government-ordered shutdowns on its plants and supply chains.
Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules.
The world's biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.
BlackRock and Credit Suisse reckon it is time to get back into equities after markets rallied this week following massive government and central bank stimulus packages to fight fallout from the coronavirus crisis.
Fast-food chain Wendy's Co said on Thursday it would defer rent and ease royalty and marketing fee payments for franchisees, amid growing pressure in the restaurant industry due to coronavirus-related outlet closures.
Share markets across the world fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion U.S. stimulus package.
The union representing British pilots has described the government's scheme to retain jobs through the coronavirus outbreak as confusing, lacking detail and taking too long to help those who are being laid off now.
"We did in two weeks what it took the Fed eight months to do in 2009," hedge fund manager Paul Tudor Jones told CNBC.
Two employees of Tesla Inc have tested positive for coronavirus, Business Insider reported on Thursday, citing an internal email.
Senior cabinet officials in the Trump administration agreed to new measures to restrict the global supply of chips to China's Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus.
The U.S. Senate's unanimous passage of an estimated $2.2 trillion coronavirus relief bill sent the unprecedented economic rescue legislation to the House of Representatives, whose leaders hope to pass it on Friday.
The U.S. Senate on Thursday unanimously approved an unprecedented stimulus package to alleviate the devastating economic impact of the coronavirus pandemic.