Reuters Business News

The Federal Reserve responded rapidly to stem losses from a "synchronized global sell-off" to help markets function as investors fled to safety on worries about the coronavirus outbreak, a senior official at the New York Fed said on Friday.

The Federal Reserve is moving as quickly as possible to set up new emergency lending facilities to support credit markets and the economy, and its efforts are already helping to stabilize short-term funding markets, said Daleep Singh, head of the markets group at the New York Fed.

Deutsche Bank investor Riebeck-Brauerei on Friday filed a motion seeking a vote to oust the lender's chairman Paul Achleitner at this year's annual general meeting, according to a document prepared by the activist shareholder's lawyer.

Occidental Petroleum shareholders next month will get their first say on the oil company's troubled acquisition of Anadarko Petroleum when they vote on issuing shares and warrants to Berkshire Hathaway for helping finance the $38 billion deal.

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.

U.S. stocks rose on Friday and also posted gains for the week, boosted by a surge in Boeing shares, President Donald Trump's plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19.

Alphabet Inc's Google said on Friday it will waive for the next five months the small fee it charges news publishers to decide which ads to show on their online properties.

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.

Occidental Petroleum shareholders next month will get their first say on the oil company's troubled acquisition of Anadarko Petroleum when they vote on issuing shares and warrants to Berkshire Hathaway for helping finance the $38 billion deal.

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.

As the U.S. quarterly earnings season picks up steam next week, investors will get an early glimpse of how companies are weathering the coronavirus outbreak, including the strength of their balance sheets.

Global stocks rallied on Friday on President Donald Trump's plans to revive the coronavirus-hit U.S. economy and a report about a clinical trial for a potential drug to treat COVID-19, while the dollar fell amid investors' growing risk-on sentiment.

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.

U.S. stocks rose on Friday and posted gains for the week, helped by a surge in Boeing shares, President Donald Trump's plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19.

U.S. airlines are estimated to be sitting on more than $10 billion in travel vouchers that should have been cash refunds from canceled flights, a group of senators released on Friday.

Boeing Co said on Friday it would resume operations at production facilities in Philadelphia next week after a two week suspension due to the spread of the coronavirus.

Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling U.S. crude storage offsetting bullishness built on U.S. President Donald Trump's outlines for the U.S. economy to emerge from the coronavirus shutdown.

Retailers, restaurants and hotels -- whose low-paid workers are among the hardest hit in the coronavirus pandemic -- got a combined 18% of the $342 billion allocated under a new federal government program to help small firms keep paying their employees during widespread shutdowns, data from the agency running the program showed on Friday.

Global stocks rallied on Friday on President Donald Trump's plans to revive the coronavirus-hit U.S. economy and hopes of a potential drug to treat COVID-19, while the dollar fell amid investors' growing risk-on sentiment.

U.S. stocks rose on Friday, helped by a surge in Boeing shares, President Donald Trump's plan to reopen the economy and hopes of a potential drug by Gilead to treat COVID-19.