Reuters

Lufthansa is aiming to finalise a state aid rescue package worth up to 10 billion euros ($10.8 billion) next week after the coronavirus crisis forced it to ground almost all of its planes, people close to the matter said.

Ma Xinli has shut four of his clothing stores and expects to close another three by mid-June. Unsold winter stock is now hard to sell, there's no money to buy summer clothing, and rent and staff salaries still need paying.

World stock markets climbed on Thursday as investors weighed a rebound in oil prices and prospects for further government stimulus against stark economic data showing the toll of the coronavirus pandemic.

South African Airways (SAA) faces a wind-down or liquidation after specialists appointed to try to save the state-owned airline said on Thursday they had run out of funds.

Eli Lilly and Co raised the top-end of its 2020 profit forecast on Thursday and reported better-than-expected quarterly results, as customers stocking up medicines such as diabetes drug Trulicity during the coronavirus pandemic boosted sales.

A highly valued public company will have a hard time getting a coronavirus relief loan, the U.S. Treasury said on Thursday, just as Congress was poised to approve a new round of funding for the loans known as the Paycheck Protection Program.

Lufthansa , which has grounded almost all its aircraft due to the coronavirus pandemic, said its operating loss increased to 1.2 billion euros ($1.3 billion) during the first three months of the year and the loss would be considerably higher in the current quarter.

In just a week, Russia has to find ways to cut a fifth of its oil output under a deal to tackle the market glut and is looking at all options, including putting wells on repair and maintenance to abandoning them entirely and even burning oil, four oil industry sources said.

The financial auditors of Colombian airline Avianca Holdings have concluded that "substantial doubt" exists as to the company's ability to stay in business due to the coronavirus crisis, the carrier said.

Wall Street jumped 1% on Thursday as a third straight decline in weekly jobless claims raised hopes the worst of the coronavirus pandemic's impact on the labor market was over, while energy stocks zoomed 5% on a rebound in oil prices.

Specialists appointed to try to save state-owned South African Airways (SAA) said on Thursday that they had no further funds for rescue efforts and that the two remaining options were a wind-down process or placing the company into liquidation.

Domino's Pizza Inc on Thursday pulled its long-term forecast and said international comparable sales fell 3.2% in the first three weeks of the current quarter as stores remain shut due to the coronavirus pandemic, sending its shares down about 5%.

Ziad Abdallah has watched with growing alarm as Lebanon's financial meltdown has threatened the savings he spent 25 years building up in his dollar account.

Hershey Co pulled its 2020 forecast on Thursday and warned of weak sales in certain categories as households worried about their financial futures cut spending on snacks and chocolates.

Air France-KLM Chief Executive Ben Smith said on Thursday he had given up his 2020 bonus, after a Dutch minister urged executive pay restraint in return for the billions of euros in government aid sought by the airline group.

Oklahoma's energy regulator said on Wednesday that oil producers could close wells without losing their leases, the first victory for struggling U.S. companies seeking relief from states after the market crash.

The combined wealth of America's billionaires, including Amazon.com Inc founder Jeff Bezos and Tesla Inc chief Elon Musk, increased nearly 10% during the ongoing COVID-19 pandemic, according to a report published by the Institute for Policy Studies (IPS).

A stunning 26.5 million Americans have sought unemployment benefits over the last five weeks, confirming that all the jobs gained during the longest employment boom in U.S. history have been wiped out as the novel coronavirus savages the economy.

Target Corp said on Thursday rising costs from trying to meet the fast-changing needs of consumers during the coronavirus crisis were set to hurt its first-quarter profit and margins, even as it recorded robust online sales during March and April.

Martin Bouygues, the boss of family-run French conglomerate Bouygues , said on Thursday that he and his brother Olivier will cut their total compensation by 25% in 2020 in the context of the current COVID-19 pandemic.