Reuters Business News

The New York Federal Reserve released the fee structure and terms for its agreement to hire the asset management firm BlackRock to guide some of the central bank's massive bond buying operations.

The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.

Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.

More than 100 British companies have postponed or ditched dividend payments in a bid to preserve cash for what could be a lengthy enforced shutdown of large parts of the UK and global economy due to the coronavirus pandemic.

General Motors Co and Ford Motor Co got dragged into the political war over much-needed ventilators for coronavirus patients Friday as U.S. President Donald Trump lashed out at the automakers for moving too slowly just hours before GM said it would build medical equipment at an Indiana plant.

Delta Air Lines Chief Executive Ed Bastian said payroll assistance funds from the government under a massive stimulus package approved on Friday ensure there will not be any involuntary furloughs or pay cuts in the U.S. airline industry through Sept. 30.

Bank of America Corp is better positioned to focus on operations rather than financial risk during the coronavirus outbreak, thanks to regulatory safeguards put in place after the financial crisis in 2008, Chief Executive Brian Moynihan said on Friday.

Alphabet Inc will donate more than $800 million in funds towards producing medical supplies used to fight COVID-19, and in ad credits to government and health organizations and businesses, Chief Executive Officer Sundar Pichai said on Friday.

European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers.

Wall Street's historic three-day bounce was stalled on Friday as doubts about the fate of the U.S. economy resurfaced with the number of coronavirus cases in the country skyrocketing.

WASHINGTON - A U.S. recession may already be underway. Could it be worse?

Ratings agency Standard & Poors placed Airbus on its watch list for a possible downgrade as doubts surfaced over the future level of aircraft deliveries and advance payments from airlines battered by the coronavirus crisis.

U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession.

Lufthansa has applied for short-time work for around 31,000 crew and ground staff at its core brand until the end of August, a spokesman said on Friday, as Germany's flagship carrier has slashed flights due to the coronavirus outbreak.

Few will regret the end of the first 2020 quarter. Fears of a U.S.-Iran war gave way to the coronavirus pandemic which JPMorgan reckons will have pushed the world economy into a 12% contraction over January to March. The quarter saw the most brutal global equity collapse since the Great Depression, exacerbated by a 60% oil price slump.

Optician Ali Nelson sent the final few orders of eyeglasses to clients last week before her Washington D.C.-based store closed to help prevent the spread of the coronavirus.

U.S. President Donald Trump blasted General Motors Co and Ford Motor Co on Friday, calling on the two U.S. automakers to quickly build badly needed ventilators for COVID-19 patients and suggesting he might invoke the Defense Production Act to force the companies to move faster.

Toyota Motor Corp's North American unit said on Friday it would produce face shields, ventilators and respirators, as the death toll from the coronavirus exceeds 1,200 in the United States.

Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.

Equinor will leave industry the Independent Petroleum Association of America (IPAA) lobby group over a disagreement on climate policy, the energy producer said on Friday.