Reuters

U.S. stocks slumped on Thursday with the Dow shedding over 5% and the index on track for its sharpest one-day decline since March 18, as investors fretted over a resurgence in coronavirus infections and a grim economic outlook from the Federal Reserve.

The reality that the coronavirus crisis is far from over is threatening a blistering equity market rally that had taken some world indexes to fresh highs.

Apple Inc Chief Executive Tim Cook said on Thursday the iPhone maker will increase spending with black-owned partners in its supply chain and seek to increase minority representation among the firms it does business with.

Amazon may face EU antitrust charges in the coming weeks over its use of data from merchants with whom it competes on its platform, a person familiar with the matter said on Thursday, putting it at risk of a hefty fine.

Global equity markets fell sharply on Thursday in their worst sell-off since markets crashed in March, while safe-haven assets rose after the Federal Reserve's sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.

Food giant Nestle said it is exploring a potential sale of part of its North American water business, including its well-known Pure Life brand, as it moves to focus on the better performing brands in its water division.

Microsoft Corp will not sell its facial-recognition technology to police departments until there is a federal law regulating the tech, the Washington Post reported on Thursday, citing the software maker's president, Brad Smith.

The corporate response to a wave of protests over the treatment of African Americans has included pledges to increase diversity, donations to civil rights groups and, in some cases, changes in policies or practices long sought by critics. Here is a sampling:

Unilever proposed on Thursday to ditch its dual Anglo-Dutch legal structure and create a single company in Britain to give it more flexibility for mergers and acquisitions as the coronavirus pandemic overwhelms businesses worldwide.

U.S. stocks deepened losses on Thursday, with the Dow on track for its biggest single day percentage fall since March 18, on fears of a resurgence in coronavirus infections and a gloomy economic forecast from the Federal Reserve.

Auto parts suppliers across North America said they are encouraged as major automakers accelerate production after coronavirus pandemic shutdowns, but are holding back on hiring and investment because of longer-term uncertainty.

Oil prices tumbled more than $3 a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States.

The safe-haven Japanese yen and Swiss franc gained on Thursday while a gauge of global equity markets fell the most in seven weeks after the Federal Reserve's sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.

The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.

Volkswagen on Thursday apologised for posting on its Instagram page last month an advert widely criticised as racist, and said it was published because of a lack of cultural sensitivity.

Fast-talking auctioneer Greg Highsmith sung out dozens of prices - "seventy-five-hundred now, $10,000 now, be able to get 15,000?" - before a North Dakotan buyer paid $27,500 for a used Caterpillar oil swabbing rig on Friday.

Exxon Mobil is preparing to restart the sale of its British North Sea assets after weaker oil prices and the coronavirus outbreak led to months of delay, industry and banking sources said.

Ryanair rejected new British government guidance for passengers to check in all luggage including hand bags, saying on Thursday it would instead recommend that passengers minimise checked-in luggage.

Ryanair on Thursday rejected new British government guidance for passengers to check in all luggage including hand bags, saying it would instead recommend that passengers minimise checked-in luggage.

U.S. stocks slumped on Thursday with the S&P 500 and the Dow set for their steepest percentage declines since April 1, as investors fretted over a new wave of coronavirus infections and a gloomy economic forecast from the Federal Reserve.