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Global stock markets sank on Friday, as more companies flagged a hit to business from the coronavirus pandemic while oil prices extended their previous day's gains on hopes of a cut to global supply.

China's securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc and sources said some of the banks involved in the Chinese chain's successful U.S. IPO last year were reviewing their work in the listing.

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

Two hauliers load their lorries with what is fast becoming a precious commodity in France as the coronavirus pandemic takes its dreadful toll - coffins.

BMW Chief Executive Oliver Zipse said the carmaker is focussing on preserving the health of its balance sheet and workforce which have come under strain during the coronavirus crisis.

The U.S. economy likely shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming a recession is underway.

Airbus is studying a sharp cut in output of its top-selling A320 plane series in light of industrial and delivery challenges posed by the coronavirus crisis, four people familiar with the matter said.

Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a $349 billion pot of money the U.S. government will offer businesses hard-hit by coronavirus.

Britain's economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.

U.S. President Donald Trump is stoking the possibility of Saudi Arabia and Russia negotiating oil output cuts as the coronavirus outbreak hammers demand.

The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.

JPMorgan has reached agreement with its Chinese partner to increase its stake in its Chinese mutual fund venture to 100%, joining BlackRock and Neuberger Berman to grow its presence in the world's second biggest economy.

Mexico's Grupo Modelo said on Thursday it will temporarily stop brewing Corona beer and other brands exported to 180 countries after its business activities were declared non-essential under a government order aimed at curbing the spread of the coronavirus.

Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a $349 billion pot of money the U.S. government will offer businesses hard-hit by coronavirus.

Here is a timeline of the Nasdaq-listed Luckin Coffee Inc's journey from a hot Chinese start-up to U.S. IPO and now an investigation for alleged fraud.

Airbus is studying a sharp cut in production of its single-aisle A320, its biggest-selling family of jets, to accommodate industrial and delivery problems triggered by the coronavirus crisis, three people familiar with the matter said.

Fiat Chrysler (FCA) has begun producing ventilator parts to help Italy's Siare Engineering boost its output of the medical equipment needed to treat patients during the coronavirus crisis, the carmaker said on Friday.

Sweden's H&M , the world's second-biggest clothing retailer, said on Friday it expected a loss in the second quarter after reporting a 46% plunge in March sales as the coronavirus pandemic took a toll on the retail sector.

The coronavirus pandemic has disrupted global food supplies and is causing labour shortages in agriculture worldwide.