Reuters Business News

Seen as a quintessentially safe bet for many Americans, the $3.8 trillion money-market fund industry is under severe duress for a second time in the past decade as investors weigh the risk of a global economic shutdown.

Cambodia reported 10 new cases of coronavirus on Thursday, raising its tally to 47.

Some banks in Britain are struggling to provide financial support to homeowners and businesses battered by the coronavirus pandemic, with demand surging after the government announced a series of aid measures including an emergency lending scheme.

The Federal Reserve is "aggressively" tackling problems with market functioning and liquidity as it sees them arise, with programs like the Term Auction Facility for banks not deemed necessary yet but still "on the table," Richmond Federal Reserve president Thomas Barkin said in an interview.

The U.S. Federal Reserve opened the taps on Thursday for central banks in nine additional countries to access dollars in hopes of preventing the coronavirus epidemic from causing a global economic rout.

The U.S. Federal Reserve on Thursday opened the taps for central banks in nine new countries to access dollars in hopes of preventing the coronavirus epidemic from causing a global economic rout.

The world's wealthiest nations poured unprecedented aid into the traumatized global economy on Thursday as coronavirus cases ballooned in the current epicentre Europe even as they waned at the pandemic's point of origin, China.

Wall Street drifted lower on Thursday as policymakers pulled out all the stops to try and stave off a deep and lasting coronavirus-driven recession and its damaging fallout on corporate America.

Russian President Vladimir Putin and Chinese President Xi Jinping discussed the coronavirus by phone on Thursday and agreed to deepen cooperation on developing pharmaceuticals, the Kremlin said.

Amazon workers in France are coming under unacceptable pressure, Finance Minister Bruno Le Maire said on Thursday, after staff complained they faced not getting paid if they stopped showing up due to fears of coronavirus contamination.

Shares of Uber Technologies Inc rose as much as 35% after CNBC reported that the company has plenty of cash on hand to get through the coronavirus crisis and is seeing growth in areas of businesses other than ride-hailing.

The U.S. Department of Energy said on Thursday it will buy up to 30 million barrels of crude oil for the Strategic Petroleum Reserve by the end of June as a first step in fulfilling President Donald Trump's directive to fill the emergency stockpile to help domestic crude producers.

U.S. oil prices rose 10% on Thursday after a three-day sell-off as the spread of the coronavirus and a battle for market share between Saudi Arabia and Russia drove prices to their lowest in almost 20 years.

Several employees at Goldman Sachs Group Inc's New York headquarters are believed to have contracted the novel coronavirus, according to two sources, making it the latest Wall Street bank whose staff have been affected by the pandemic.

Germany expects a record 2.15 million people to this year make use of a scheme that allows employees to work shorter hours but keep their jobs, as the impact of the coronavirus causes havoc in the labor market, a ministry document seen by Reuters showed on Thursday.

The crisis for airlines deepened on Thursday as Lufthansa warned the industry might not survive without state aid if the coronavirus pandemic lasts a long time, and Qantas Airways told most of its 30,000 staff to take leave.

Middle East and African airlines are in crisis with hundreds of thousands of jobs at risk from the coronavirus outbreak, the International Air Transport Association (IATA) said on Thursday, calling for state intervention.

The number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high last week, as companies in the services sectors laid off workers because of the coronavirus pandemic.

The new coronavirus is killing one person every 10 minutes in Iran, the health ministry spokesman tweeted on Thursday, as the death toll in the Middle East's worst-affected country climbed to 1,284.

Chad confirmed its first case of coronavirus on Thursday, a Moroccan national who had traveled to the country from Cameroon, the government said in a statement.