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The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the Fed for cash, easing concerns among banks about getting stuck holding the low interest loans.

Capri Holdings Ltd will furlough all its 7,000 retail staff in North America due to the coronavirus outbreak and expects to reopen stores around June 1, the owner of Michael Kors and Versace brands said on Monday.

Shares of Zoom Video Communications Inc fell 8% on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals.

New York Governor Andrew Cuomo on Monday cited tentative signs the coronavirus outbreak was "flattening" in his state but warned against complacency as the U.S. death toll topped 10,000 and the number of cases reached 350,000.

The U.S. carrier had earlier planned to reduce its April capacity by at least 10% and May capacity by at least 15%.

RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from U.S. Treasury for government assistance.

Mandatory coronavirus quarantines of seasonal foreign workers in Canada could hurt that country's fruit and vegetable output this year, and travel problems related to the pandemic could also leave U.S. farmers with fewer workers than usual.

The S&P 500 was on track to recover about $1 trillion in market value in a furious rally on Monday after a drop in the daily death toll in New York, the country's biggest coronavirus hot spot, raised hopes that the pandemic could level off soon.

Qatar Petroleum (QP) is pressing ahead with foreign as well as domestic expansion despite the global market turmoil caused by the coronavirus pandemic, its chief executive told Reuters on Monday.

The S&P 500 was on track to recoup about $1 trillion in market value in a frantic rally on Monday after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon.

Luckin Coffee Chairman Charles Zhengyao Lu and Chief Executive Jenny Zhiya Qian have handed over shares in the embattled Chinese coffee chain to lenders after a company controlled by Lu's family defaulted on a $518 million margin loan, one of the banks said on Monday.

World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some of the world's hot spots, while a delay in talks between Saudi Arabia and Russia to cut supply sent oil prices tumbling again.

British drugmaker GlaxoSmithKline will invest $250 million in Vir Biotechnology Inc and collaborate to develop potential antibody treatments for COVID-19, the disease caused by the new coronavirus, the companies said on Monday.

The United States entered what an official called the "peak death week" of the coronavirus on Monday while a watchdog report said hospitals were struggling to maintain and expand capacity to care for infected patients.

Michael Kors owner Capri Holdings Ltd said on Monday it would furlough all its 7,000 employees in North America amid the coronavirus pandemic, as it expects to reopen its stores only after June 1.

The New York Stock Exchange has eased its listing requirements until the end of June to take the strain off companies that may have fallen out of compliance due to the market rout spurred by the coronavirus, according to a regulatory filing.

Qatar Petroleum will postpone the start of production from its new gas facilities to 2025 due to a delay in the bidding process, but is not downsizing the world's largest liquefied natural gas project despite concerns of a mounting glut, its chief executive told Reuters.

JPMorgan Chase & Co's top boss, Jamie Dimon , on Monday said he sees a "bad recession" in 2020, and that the largest U.S. bank could suspend its dividend if the coronavirus crisis deepens.

U.S. insurer Allstate Corp said on Monday that it would return more than $600 million in auto insurance premiums to customers as many Americans stay home and drive less due to "shelter-in-place" orders to curb the coronavirus outbreak.

Peugeot-owner PSA said on Monday it had secured a further 3 billion euros ($3.3 billion) of loans, strengthening its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.