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Bank of America Corp said on Friday it has already received about 35,000 applications for federally backed small-business loans within hours of starting to accept them.

Canada has signed an agreement with Amazon Canada to ensure medical equipment is delivered where it is most needed in the country's fight against the cornonavirus outbreak, Prime Minister Justin Trudeau said on Friday.

The dollar firmed against major currencies for a third straight day on Friday, as investors took shelter in the U.S. currency amid worsening economic fallout from the coronavirus pandemic.

OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic.

Crude futures surged for a second day on Friday, with benchmark Brent up 11% on hopes that a global deal to cut crude supply worldwide will emerge early next week.

Airbus is studying a sharp cut in output of its top-selling A320 plane series amid an industry-wide slowdown triggered by the coronavirus crisis, sources familiar with the matter said.

Central banks are pulling out all the stops to try to shield their economies from the new coronavirus pandemic, raising questions about whether they risk crossing a line by bailing out governments that are massively raising their spending.

The global recession that economists polled by Reuters say is under way will be deeper than thought a few weeks ago due to the coronavirus pandemic, although most are clinging to hopes for a swift rebound.

The U.S. biofuel industry has asked the Trump administration for funds from the U.S. Department of Agriculture's Commodity Credit Corporation to help it survive a demand slump triggered by the coronavirus outbreak, according to a letter seen by Reuters.

Aeroplanes with a total insured value of more than $160 billion are grounded around the world, presenting risks for insurers, a report said on Friday.

Defense contractor Lockheed Martin Corp said on Friday it hired about 1,000 employees in the last two weeks and increased payments to suppliers to counter the impact from the coronavirus pandemic.

Dutch brewer Heineken said on Friday that it will suspend production and distribution from its seven plants in Mexico, in response to the government's decision to halt non-essential economic activity to contain the new coronavirus.

Ford Motor Co on Friday extended the temporary suspension of vehicle and engine production at most of its European manufacturing sites at least until May 4.

FedEx Corp said on Friday it would slash its chief executive officer's pay and draw down $1.5 billion from a credit facility as parcel delivery services take a hit from coronavirus-led lockdowns across the globe.

The economic crisis spawned by the coronavirus pandemic has produced a wave of grim U.S. data, with likely more to come as millions lose jobs, businesses shutter and spending stops.

Benchmark Brent crude oil futures climbed to as high as $34.91 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.

Bank of America Corp Chief Executive Brian Moynihan said the bank has already received roughly 10,000 applications for federally backed small business loans within the first hour of starting to accept them.

Top White House economic advisor Larry Kudlow said on Friday that there would be big demand for a small-business loan program but that the banks were prepared for it despite concerns that they would be overwhelmed by the need created by an economic shutdown aimed at slowing the spread of the coronavirus.

U.S. services sector activity slowed to a more than 3-1/2-year low in March, with industries reporting a moderation in new orders and decline in employment amid the coronavirus pandemic, which has brought the country to sudden stop.

A price war between world oil producers has slashed Venezuela's revenue for its top export and exacerbated the country's financial crisis as it also faces the coronavirus pandemic, U.S. sanctions and sliding crude output.