Crude posts worst week in a decade, hit by coronavirus and price war eruption
Oil prices on Friday posted their worst week since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply.
Stocks bounce on stimulus hopes
Wall Street clawed back some losses on Friday after its biggest one-day decline in three decades, as investors set their hopes on more global fiscal stimulus to stem a coronavirus-driven global recession.
Teleconference apps and new tech surge in demand amid coronavirus outbreak
Global downloads of business apps including Tencent Conference, WeChat Work, Zoom, Microsoft Teams and Slack have risen nearly five fold since the start of the year, data showed, as the coronavirus outbreak changes how corporations work.
Denmark shuts its borders for one month to curb spread of coronavirus
Denmark announced on Friday it would shut its borders to most foreign visitors for a month from Saturday, in a move unprecedented in peacetime as part of efforts to halt the spread of coronavirus.
Dollar surges vs yen as stock markets rally
The dollar surged on Friday, posting sharp gains against the safe-haven Japanese yen as stock markets recovered globally and investors cheered efforts by governments and policymakers to address the economic fallout from the coronavirus outbreak.
World stocks bounce back on spending hopes; most markets tank for the week
Stocks across the globe bounced back on Friday but hopes of more central bank stimulus and government spending went only so far and indexes were set to post large weekly drops after days of pandemic-related panic-selling across markets.
United Airlines in talks with U.S. officials about financial support
United Airlines confirmed Friday it is in talks with U.S. government officials about possible financial assistance in the middle of a dramatic falloff in travel demand due to the coronavirus outbreak.
Poland to close borders to foreigners from Sunday
Poland will ban foreigners from entering the country from Sunday and impose a 14-day quarantine on its citizens returning home in a bid to curb the spread of coronavirus, Prime Minister Mateusz Morawiecki said on Friday.
Azerbaijan bans wedding celebrations, public events after coronavirus death
Azerbaijan has banned wedding celebrations and other public events, the authorities said on Friday, a day after it recorded its first death from the coronavirus.
Explainer: Dollar demand reveals market’s pain point
This month’s dramatic selloff in financial markets is causing ructions in vital funding markets that keep money flowing between banks and companies and underpin anything from global trade to corporate cashflow.
