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Amid confusion over a $349 billion rescue program for small businesses struggling to survive the coronavirus pandemic, the U.S. Treasury released guidelines it hopes will pave the way to getting the spigots flowing on Friday, as promised.

U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses, after conceding to bank demands to fix aspects of the program that they said could cause participating lenders legal and financial risks.

Airbus is studying a sharp cut in narrow-body production rates to accommodate industrial and delivery problems triggered by the coronavirus crisis, three people familiar with the matter said.

European stock markets sank on Friday, erasing meagre gains for the week, 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 global supply cut.

Organisers of the Beijing autoshow, which was scheduled to be held in late-April, said on Friday the event would be held between Sept. 26 and Oct. 5 due to the coronavirus pandamic.

Ryanair missed its 2020 target for passenger traffic and expects to book an exceptional charge of around 300 million euros for the year which ended last month, it said on Friday.

Benchmark Brent crude oil futures reversed losses incurred during Asian hours in early European trading on Friday to rise above $30 a barrel, with hopes of a huge global supply cut deal to support prices still alive.

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.

German sportswear maker Puma proposed on Friday to suspend its 2019 dividend given the impact of the coronavirus pandemic.

British supermarket group Sainsbury's said on Friday it would start to remove the customer purchasing limits it imposed to prevent coronavirus stockpiling as customers start to buy just what they need.

Alphabet Inc's Google on Thursday published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of the novel coronavirus.

International seat capacity has dropped by almost 80% from a year ago and half the world's airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic.

Oil prices shed some of their massive gains on Friday taking stocks in Asia lower, as doubts grew over an oil price deal between Saudi Arabia and Russia that U.S. President Donald Trump said he had brokered.

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, reflecting market scepticism about a deal U.S. President Donald Trump said he had brokered between Saudi Arabia and Russia to cut output.

H&M , the world's second-biggest clothing retailer, reported on Friday a 46% plunge in March sales as the coronavirus pandemic took its toll and said it expected to run a loss in its fiscal second quarter.

Volkswagen's Traton commercial truck unit has seen cancellations of orders due to the coronavirus outbreak but these are manageable, its chief told a German magazine in an article published on Friday.

U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear.

When the Federal Reserve polled Wall Street about financial stability risks last fall, "global pandemic" didn't make the list.

The dollar edged toward a 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.

Recent negotiations involving leaders from major oil-producing nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil's Petrobras said on Thursday evening.