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U.S. Treasury Secretary Steven Mnuchin told major airlines on Friday he wants them to repay some of the $25 billion in cash grants the U.S. Congress approved last month to cover payroll costs as airlines weather an unprecedented crisis due to the coronavirus, three industry officials briefed on the matter told Reuters.

The United States has approved 661,000 loans to small businesses totaling $168 billion under a program to address the fallout from the novel coronavirus epidemic, White House economic adviser Larry Kudlow said on Friday.

Top oil nations struggled to finalise record output cuts at G20 talks on Friday to boost prices slammed by the coronavirus crisis, as Saudi Arabia clashed with Mexico despite U.S. President Donald Trump's mediation offer.

Saudi Arabia's Crown Prince and Russian President Vladimir Putin reviewed in a telephone conversation on Friday the efforts to achieve stability of energy markets to support the growth of the global economy, Saudi state news agency (SPA) reported.

Saudi Arabia and other oil producers in the OPEC+ group pushed back on Friday on a Mexican plan to cut less than requested under plans for global supply curbs, two sources from the OPEC+ group said on Friday.

Honeywell International Inc said on Friday it had entered into a $1.5 billion loan agreement to be used for general corporate purposes.

U.S. President Donald Trump said on Friday he would help Mexico contribute to global oil output reductions, in a surprise move that could break an impasse among the world's major oil producers over cutbacks aimed at stabilizing crude prices.

The United States racked up a $744 billion budget deficit in the first half of fiscal 2020, up 8% from a year earlier, the Treasury said on Friday, ahead of an expected April spending explosion and withering of revenues amid the coronavirus pandemic.

U.S. Treasury Secretary Steven Mnuchin is holding calls with airline CEOs throughout the day and could announce some details of a $32 billion payroll grant package later this afternoon, people briefed on the matter told Reuters.

The U.S. economy was on a strong footing before the coronavirus pandemic and Federal Reserve officials are working to help the economy rebound quickly once businesses that were shuttered because of the virus begin to reopen, two policymakers said Friday.

Boeing Co has hired investment banks Lazard and Evercore Inc to assess potential U.S. government assistance or private sector loans, a person briefed on the matter confirmed on Friday.

Coast-to-coast shutdowns of businesses and stay-at-home orders from the effort to contain the new coronavirus pandemic took their toll on U.S. consumer prices in March, sending them down by the most in five years.

Top oil nations pushed to finalise a deal on sweeping oil cuts at G20 talks on Friday to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking the lion's share and the United States showing unusual willingness to help out.

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed a planned OPEC+ reduction of oil output, the Kremlin said.

The trillions of dollars in cash and loans unleashed by the Federal Reserve and U.S. political leaders in recent weeks is meant to build a financial bridge for the country to get beyond the coronavirus pandemic and restart the economy with little or no long-term damage.

A shocking 16.8 million people filed for U.S. unemployment benefits in the last three weeks as the country shut down to stop the spread of the novel coronavirus, overwhelming state labor departments and creating a large backlog of pending applications.

The U.S. Justice Department and other federal agencies on Thursday called on the Federal Communications Commission (FCC) to revoke China Telecom (Americas) Corp's authorization to provide international telecommunications services to and from the United States.

Johnson & Johnson said on Friday it abandoned plans to buy Takeda Pharmaceutical’s surgical patch product TachoSil, citing regulatory issues.

The March U.S. budget deficit shrank to $119 billion from $147 billion a year earlier as receipts grew and calendar shifts reduced outlays, but the data reflect only a minimal impact from massive coronavirus rescue spending, the U.S. Treasury said on Friday.

Apple Inc and Alphabet Inc's Google said on Friday that they will work together to create contact tracing technology that aims to slow the spread of the coronavirus by allowing users to opt into a system that catalogs other phones they have been near.