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François-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering , has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis.

Renault Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros ($4.4-$5.4 billion).

U.S. electric vehicle maker Tesla Inc said on Friday it has started China sales of two lower-priced Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax.

Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.

OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.

Russian President Vladimir Putin, U.S. President Donald Trump and Saudi Arabia's King Salman, discussed the OPEC+ oil group meeting in a phone call on Friday and confirmed their aim was to stabilise the global oil trade, the Kremlin said.

U.S. electric vehicle maker Tesla Inc said on Friday it has started selling two new locally made Model 3 sedan variants in China.

After a widely expected and sharp drop in the U.S. economy over the next three months, a panel of top business economists sees high joblessness persisting for more than a year in an outcome that would douse hopes for a quick, post-pandemic return to normal.

Boeing Co is considering a plan to cut its workforce by about 10%, which could involve buyouts, early retirements and involuntary layoffs, the Wall Street Journal reported on Thursday.

Saudi Arabia's King Salman, U.S. President Donald Trump and Russian President Vladimir Putin reviewed, in a phone call, the importance of cooperation between oil producing countries, after Thursday's OPEC+ meeting, Saudi state news agency SPA reported.

U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants.

In a meeting with OPEC and its allies, Mexico proposed reducing its oil output by 100,000 barrels per day (bpd) in the next two months, Energy Minister Rocio Nahle said on Thursday.

OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.

U.S. President Donald Trump said on Thursday he had a good conversation with Russian President Vladimir Putin and Saudi Arabia's King Salman and expected that OPEC and other countries would be announcing a deal soon.

Delta Air Lines Inc Chief Executive Ed Bastian said on Thursday that nearly 35,000 workers had volunteered so far for voluntary unpaid leaves of absence the company is offering in an attempt to stem costs because of the coronavirus crisis.

Volkswagen AG said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.

OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.

Wall Street closed out the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed another program designed to buoy local governments and businesses crushed by massive closures to stem the coronavirus outbreak.

Oil prices tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.

The makers of specialized cameras to quickly scan for fevers as people enter crowded workplaces are grappling with soaring demand while confronting supply disruptions, forcing some to prioritize customers such as hospitals, executives told Reuters.