The Federal Reserve on Wednesday announced a move that's aimed at shoring up "prime" money market funds and keeping cash flowing in the U.S. financial system. Here's what that means for account holders.
The number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high last week, as companies in the services sectors laid off workers because of the coronavirus pandemic.
United Nations Secretary-General Antonio Guterres warned on Thursday that a global recession "is a near certainty" and current national responses to the coronavirus pandemic "will not address the global scale and complexity of the crisis."
The spread of the coronavirus will have a short-lived, drastic impact on Armenia's economy, Economy Minister Tigran Khachatryan said on Thursday.
The coronavirus crisis has almost certainly ended the longest U.S. expansion on record and pushed the economy into the start of a short slump, according to analysts polled by Reuters who gave a median 80% chance of recession this year.
Canada's Bombardier Inc could face its first test as a standalone business jet maker as economic uncertainty linked to the rapid spread of coronavirus crimps demand for new corporate aircraft and has sparked fears of a recession, industry executives and analysts said.
The World Health Organization (WHO) is finalizing arrangements for Chinese suppliers to export protective gear for health workers and aims to build a "continuous pipeline", WHO director-general Tedros Adhanom Ghebreyesus said on Thursday.
Shares of Uber Technologies Inc surged as much as 44% on Thursday after Chief Executive Officer Dara Khosrowshahi said it had plenty of cash on hand to tide over the coronavirus crisis and signaled a recovery in some parts of its business.
The world's richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicentre Europe, with the number of deaths in Italy outstripping those in mainland China where the virus originated.
The southern Swiss canton of Ticino on the border with Italy is being swamped with coronavirus patients and authorities are battling to find enough intensive care beds, a top public health official said on Thursday.
American Airlines Group Inc is working on more network reductions "in real-time" as it sees booking continuing to decline, President Robert Isom told employees in a letter on Thursday.
Amazon.com Inc has started asking customers to cooperate with a Department of Justice criminal investigation of third-party sellers on its e-commerce marketplace, according to an email seen by Reuters.
Italian carmakers Ferrari and Fiat Chrysler are in talks with the nation's biggest ventilator manufacturer to help to boost production of the life-saving machines that are urgently needed in the coronavirus crisis, company officials said on Thursday.
Wall Street tried to bounce back on Thursday from dramatic losses in the previous session, as policymakers around the world pulled out all the stops to try and stave off a deep and lasting coronavirus-driven recession.
The U.S. Centers for Disease Control and Prevention (CDC) on Thursday reported 10,491 cases of coronavirus, an increase of 3,404 from its previous count, and said the death toll had risen by 53 to 150, the biggest one-day jump so far.