Lufthansa said that the airline industry may not survive without state aid if the coronavirus epidemic lasts for a long time, as it throws everything at bringing home stranded travelers and keeping industrial supply chains open.
From airlines and cruise lines to retailers and energy companies, investors are fleeing large pockets of the corporate credit market, worried that the coronavirus pandemic will lead to bankruptcies, defaults and credit rating downgrades.
Amazon.com Inc on Thursday said it was closing a small New York warehouse temporarily after one of its associates tested positive for the coronavirus, a move that highlights the operational risk it faces as the disease spreads.
The dollar surged and everything else was blown away on Thursday as emergency central bank measures in Europe, the United States and Australia failed to halt a fresh wave of panic selling.
Oil prices rose on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens.
Big-box retailer Walmart Inc said on Thursday it would hire more than 150,000 hourly workers in the United States, citing a jump in shoppers due to the coronavirus pandemic.
U.S crude oil prices edged higher on Friday, extending gains after a 24% jump the previous day, buoyed by hints from U.S. President Donald Trump he may intervene in the price war between Saudi Arabia and Russia at an "appropriate time."
Asian shares staged a rare rally on Friday as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though the panicked rush into U.S. dollars suggested the crisis was far from done.
Bentley will stop car production at its British factory from the end of Friday for four weeks over the coronavirus outbreak, one of the final automakers in Britain to announce such plans.
From Brazil to Norway, policymakers are leaping to defend currencies against the onslaught of the dollar which scaled three-year peaks on Thursday, raising speculation that a joint move by the world's biggest central banks may be in the offing.
Ford Motor Co on Thursday said it will suspend production in Brazil and Argentina starting next week due to the coronavirus outbreak, joining General Motors Co and Mercedes Benz which have also announced similar measures in Brazil.
As the coronavirus pandemic threatens to bring U.S. economic activity to a halt, American businesses are jockeying for a financial lifeline from President Donald Trump's administration and Congress.
Activist investor Starboard Value is pressuring eBay for the second time in two years and said on Thursday that it plans to install four directors on the e-commerce company's 14-member board.
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 leading U.S. airline trade group and dozens of other U.S. aviation industry trade groups on Thursday called for immediate grants, unsecured loans and limited tax measures to ensure the industry's ability to survive the spread of coronavirus.