Reuters

The U.S. Air Force will release $882 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, a Pentagon official said on Thursday.

General Motors Co and Honda Motor Co Ltd said on Thursday they would jointly develop two new electric vehicles for Honda and are exploring more ways to expand their alliance.

World equity markets climbed on Thursday on a surge in risky assets like oil, offsetting concerns over an increasing death toll from the coronavirus pandemic that is expected to push the global economy into recession.

U.S. online grocery delivery company Instacart said on Thursday it will distribute free health and safety kits to full-service shoppers, days after its workers went on strike to call attention to safety and wage concerns over the coronavirus crisis.

The dollar rose against a basket of currencies for a second straight day on Thursday as investors, worried about the prospect of a global recession, continued to take shelter in the greenback.

Tesla Inc on Thursday fell short of Wall Street estimates for first-quarter vehicle deliveries, due to the production disruptions and shutdowns caused worldwide by the coronavirus pandemic.

U.S. President Donald Trump says he has brokered a deal with Saudi Arabia and Russia that would see sweeping oil output cuts. Riyadh has called for emergency talks, and Moscow has said it no longer plans to hike production in a battle for market share.

The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett's equity portfolio at Berkshire Hathaway Inc , setting up the conglomerate for one of the largest quarterly losses ever by an American company.

The United States will not ask U.S. domestic oil companies for a coordinated cut in production to counter a historic meltdown in global prices and is still awaiting the details of planned cuts in Saudi Arabia and Russia, a senior administration official told Reuters on Thursday.

The U.S. unemployment rate will shoot past 10% in the second quarter and the growth rate of gross domestic product will decline by more than 7% as the coronavirus crisis grips the U.S. economy, according to projections released by the Congressional Budget Office (CBO) on Thursday.

U.S. stocks rose on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut oil output drove gains, helping to offset the shocking jump in Americans filing for jobless claims due to coronavirus-led lockdowns.

U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear.

The U.S. Air Force has recommended the release of up to $924 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, according to a memo seen by Reuters and a source familiar with the situation.

Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields.

The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with knowledge of the discussions said.

The dollar rose for a second straight day against a basket of currencies on Thursday as investors, worried about the prospect of a global recession, continued to take shelter in the greenback.

Crude prices soared on Thursday after U.S. President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

General Electric Co said on Thursday it would furlough about half its workers in the U.S. engine assembly and component manufacturing operations, a move that would affect thousands of employees, as the coronavirus pandemic hurts travel demand.

Shares of Luckin Coffee Inc sank as much as 81% on Thursday after the Chinese coffee chain said an internal investigation had shown that its chief operating officer and other employees fabricated sales transactions.

Ford Motor Co said on Thursday it will make 50,000 face shields at factories in Brazil and Argentina to donate in the fight against the coronavirus pandemic.