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The generous U.S. unemployment benefits rolled out to blunt the economic harm caused by the coronavirus could have an unintended effect: it may actually be an incentive for companies to choose layoffs rather than keep staff on their books.

It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday.

The U.S. Transportation Department on Friday issued a notice to airlines reminding them they are obligated to refund tickets when they cancel a flight or make a significant flight schedule change that passengers opt not to accept, but will not take any immediate action against airlines.

A union official accused Exxon Mobil Corp on Friday of using "scare" tactics and exploiting economic uncertainty caused by the coronavirus pandemic in negotiations with workers at its Baytown, Texas, refinery, allegations the company denied.

U.S. President Donald Trump on Friday signed an order directing his administration to stop N-95 face masks and other personal protective equipment needed in the fight against the coronavirus pandemic from being exported to other countries.

Warren Buffett's Berkshire Hathaway Inc said on Friday it sold about 18% of its stake in Delta Air Lines Inc and 4% of its holdings in Southwest Airlines Co this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest crisis ever.

NEW YORK (LPC) - General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US.

Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government's $349 billion small business bailout fund, which officially launched in the morning.

Mexicans fretted about beer supplies on Friday after Dutch brewer Heineken said it will suspend production at its seven plants in Mexico to comply with coronavirus containment measures, following a similar announcement by rival Modelo.

U.S. President Donald Trump has directed his cabinet to find ways to ease a cash crunch in the drilling industry after oil company executives told him in a Friday meeting it was among their top concerns, according to three sources briefed on the matter.

Southwest Airlines Co said on Friday it has applied for U.S. payroll grants but cannot disclose details as the next several days could involve conversations on the terms of any agreement.

Kraft Heinz Co said on Friday it has moved to significantly reduce production at three plants providing restaurant supplies amid the new coronavirus outbreak, but its CEO noted the company has added shifts at others to meet demand for packaged foods like macaroni and cheese.

Wall Street's main indexes fell more than 1.5% on Friday as the coronavirus abruptly ended a record U.S. job growth streak of 113 months, intensifying fears of a deep economic slowdown.

Questions are building about whether big U.S. banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans.

Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coronavirus, though some warned the funds are "not enough."

Oil and gas producer Occidental Petroleum Corp on Friday named company insider Robert Peterson as its new chief financial officer.

Amazon.com Inc is postponing its major summer shopping event, Prime Day, until at least August and expects a potential $100 million hit from excess devices it might now sell at a discount, according to internal meeting notes seen by Reuters.

U.S. Treasury Secretary Steven Mnuchin said on Friday he expects all large U.S. banks to be participating in a newly launched, $350 billion small business coronavirus rescue loan program by next week, with community banks issuing most of the loans so far.

Warren Buffett's Berkshire Hathaway Inc said on Friday it has sold some of its stake in Delta Air Lines Inc .

Fiat Chrysler said on Friday it decided to postpone to late June its shareholders' meeting scheduled for April 16, as a consequence of the continuing coronavirus emergency.