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Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30% from more than 105,000 at the end of March, Bloomberg News reported on Sunday.

Federal Reserve Chairman Jerome Powell said a U.S. economic recovery may stretch deep into next year and a full comeback may depend on a coronavirus vaccine.

India's Reliance Industries on Sunday announced U.S. fund General Atlantic will invest 65.98 billion rupees ($870 million) in Jio Platforms, a fourth deal that takes investment in its digital unit to over $8 billion in less than a month.

Senior British government minister Michael Gove said on Sunday there was a post-Brexit trade deal to be done with the European Union providing the bloc agreed to compromise, days after both sides said talks were making little progress.

Emirates Group plans to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, reducing employees by about 30% from more than 105,000 at the end of March, Bloomberg News reported, citing people familiar with the matter.

Indian conglomerate Reliance Industries said on Sunday U.S. fund General Atlantic will buy 1.34% of its Jio Platforms digital unit for 65.98 billion rupees ($870 million).

Indian conglomerate Reliance Industries said on Sunday equity firm General Atlantic will buy 1.34% of its digital unit for 65.98 billion rupees ($870.25 million).

Temporary unemployment schemes operating across Europe could struggle to save the jobs of leisure and travel sector workers facing drawn-out or partial recoveries from the COVID-19 pandemic, even if they help industries that rebound quickly.

China's commerce ministry said on Sunday it is firmly opposed to the latest rules by the United States against Huawei and will take all necessary measures to safeguard Chinese firms' rights and interests.

Walt Disney Co will partially reopen its Disney Springs entertainment and shopping complex at Walt Disney World Resort in Florida on May 20, it said late on Saturday.

China has asked trading firms and food processors to boost inventories of grains and oilseeds as a possible second wave of coronavirus cases and worsening infection rates elsewhere raise concerns about global supply lines.

The People's Bank of China should avoid buying special treasury bonds as such a move could fuel inflation risks and asset bubbles and lead to depreciation of the yuan currency, central bank policy adviser Ma Jun said in remarks published on Sunday.

J.C. Penney Co Inc needs to exit bankruptcy proceedings in just a matter of months to survive the unprecedented financial strain of prolonged store closures due to the COVID-19 pandemic, a lawyer for the iconic U.S. department store chain said during a court hearing on Saturday.

J.C. Penney Co Inc said on Saturday a U.S. Bankruptcy Court will allow it to keep paying wages and benefits to workers who will remain on the job after the U.S. department store chain filed for Chapter 11 protection from creditors, and also to pay vendors for goods delivered to its stores.

Italian Prime Minister Giuseppe Conte said on Saturday that Fiat Chrysler was entitled to apply for Italy's state-backed loans because the automaker employs thousands of people in the country, even though its legal base is located abroad.

Canadian Prime Minister Justin Trudeau said on Saturday he would look at possible ways to help airlines further, but laid out no new measures after the country's biggest airline announced mass layoffs due to the coronavirus pandemic.

Around 600 banks, most of them small community institutions, tapped the Federal Reserve's Paycheck Protection Program facility for about $30 billion of loans as of May 6, the U.S. central bank reported on Saturday in its first detailed disclosure under the new program.

J.C. Penney Co Inc filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale, making it the latest brick-and-mortar retailer to crumble as prolonged store closures in response to the COVID-19 pandemic drive a final stake through long-troubled businesses.

Fiat Chrysler (FCA) has asked the Italian government for a state-backed three-year loan, to help the automaker pay suppliers and continue its investment plan in the country, UILM union said on Saturday.

China's foreign ministry said on Saturday the United States needed to stop the "unreasonable suppression" of Chinese companies like Huawei, and a Chinese newspaper said the government was ready to retaliate against Washington.