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Auto parts suppliers across North America said they are encouraged as major automakers accelerate production after coronavirus pandemic shutdowns, but are holding back on hiring and investment because of longer-term uncertainty.

Oil prices tumbled more than $3 a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States.

The safe-haven Japanese yen and Swiss franc gained on Thursday while a gauge of global equity markets fell the most in seven weeks after the Federal Reserve's sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.

The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.

Volkswagen on Thursday apologised for posting on its Instagram page last month an advert widely criticised as racist, and said it was published because of a lack of cultural sensitivity.

Fast-talking auctioneer Greg Highsmith sung out dozens of prices - "seventy-five-hundred now, $10,000 now, be able to get 15,000?" - before a North Dakotan buyer paid $27,500 for a used Caterpillar oil swabbing rig on Friday.

Exxon Mobil is preparing to restart the sale of its British North Sea assets after weaker oil prices and the coronavirus outbreak led to months of delay, industry and banking sources said.

Ryanair rejected new British government guidance for passengers to check in all luggage including hand bags, saying on Thursday it would instead recommend that passengers minimise checked-in luggage.

Ryanair on Thursday rejected new British government guidance for passengers to check in all luggage including hand bags, saying it would instead recommend that passengers minimise checked-in luggage.

U.S. stocks slumped on Thursday with the S&P 500 and the Dow set for their steepest percentage declines since April 1, as investors fretted over a new wave of coronavirus infections and a gloomy economic forecast from the Federal Reserve.

The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.

The U.S. Environmental Protection Agency (EPA) said on Thursday that it ordered Amazon.com Inc and eBay Inc to stop selling a wide range of pesticide products on their platforms, including those that are falsely marketed as being effective against the novel coronavirus.

Zoom Video Communications temporarily shut the account belonging to a group of U.S.-based Chinese activists after they held an event to commemorate the 31st anniversary of China's Tiananmen Square crackdown, the activists said on Thursday.

Just Eat Takeaway said on Thursday its proposed $6 billion takeover of Grubhub to create a trans-Atlantic giant would give it the upper hand in the online food delivery market, where competitors are scrambling for share.

European food-ordering firm Just Eat Takeaway.com NV said on Wednesday it had agreed to buy U.S. peer Grubhub Inc in an all-stock deal that, if completed, would create the world's largest food delivery company outside China.

Moderna Inc on Thursday confirmed it plans to start a trial of 30,000 volunteers of its much-anticipated coronavirus vaccine in July as the company enters the final stage of testing.

U.S. stocks extended losses on Thursday, with the S&P 500 on track for its sharpest percentage decline since April 1, as investors worried about a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.

The United States cannot let the coronavirus shut down its economy again, U.S. Treasury Secretary Steven Mnuchin said on Thursday, adding that more than $1 trillion in rescue funds will flow into the economy over the next month.

Delta Air Lines Inc next week is launching a program to test employees for active COVID-19 and antibodies under a partnership with the Mayo Clinic and Quest Diagnostics Inc, Chief Executive Ed Bastian said in an employee memo on Thursday.

The S&P 500 and the Dow Jones hit a one-week low on Thursday, after a sharp climb over the past month, as investors worried about a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.