The Italian economy contracted by 4.8% in the first three months of 2020, compared to the same period the prior year, Italy's National Statistics Institute reports.
Nokia, Finland-based telecommunications company, reported a net profit of €116M in the first three months of 2020, a statement published by the company shows.
Belarus' foreign debt declined to $16.6B at the end of the first quarter of 2020, a decline of $500M from the beginning of the year, the Finance Ministry reports.
On Thursday, Twitter Inc reported its Asia's ads sales had slightly rebounded after a drop caused by the coronavirus pandemic, topping the forecasts and adding it had accelerated its work on tools that would help attract advertisers.
Germany's unemployment surged by 373K to 2.639M in April, according to the Labour Office data, while retail sales decreased at their fastest pace in 13 years amid the coronavirus lockdown that hit the European largest economy.
On Thursday, McDonald's Corp has missed Wall Street's expectations for its quarterly profit due to the majority of its restaurants around the world limiting their services to the take-away, drive-thru and home delivery to avoid the coronavirus spread.
The video conferencing app Zoom has admitted on Thursday it did not have 300M of daily active users, citing its "unintentional" reference to participants of daily meetings as users in its blog post.
Global smartphone output is seen to plunge by record 16.5% to 287M phones in the Q2 from the prior year as the coronavirus outbreak hit demand, according to TrendForce.
On Thursday, Nokia Oyj posted a 2% drop in its Q1 revenue due to a hit of around $217M to the company's topline amid the coronavirus pandemic, which disrupted China supply.
Airbus has entered talks with France over potential aid for the European jet manufacturer, as the transport sector was hit hard by the outbreak of coronavirus, Airbus CEO Guillaume Faury said on Thursday.
On Thursday, oil prices surged over 10% amid early signs of the US gasoline demand is recovering after being hit by the coronavirus-related restrictions.
Royal Dutch Shell slashed its dividend on Wednesday, for the first time since 1940 after a sharp plunge in its profit due to collapsed global oil demand amid the coronavirus outbreak.
Russia's gas group Gazprom reported a decline net profit to 1.20 trillion roubles last year from 1.46 trillion roubles in 2018 due to weaker demand in Europe in 2019.
China's factory activity expanded for a second month in succession in April, while a drop in export orders suggested lingering economic recovery.
Spotify Technology's paid music subscribers increased to 130M in the Q1, driving its shares higher, as the firm's business model proved to be more resilient in the COVID-19 lockdowns.
Nio Inc's shares surged more than 14% after it announced that it secured $989M investment in Nio China, a new company controlled by China's EV maker.
Lyft announced plans to lay off 17% of its workforce, or 982 workers, and implement pay cuts amid economic challenges caused by the COVID-19 pandemic.
The aerospace supplier Safran reported a 8.8% fall in Q1 revenue to €5.38B, as the coronavirus crisis started to weigh over its interiors and aircraft engines business.
German exchange operator Deutsche Boerse reported a 33% increase in its net profit in the first quarter, meeting expectations.
General Electric stated that it cut 700 positions in the company's power division in the Q1, adding that it was set to diminish capital expenditure by 25% in 2020.
Renault was considering cutting the number of sub-contractors that it uses to develop vehicle models in the engineering division potentially saving the company between €100M to €200M.
The German economy is expected to shrink 2% in Q1 and 10% in Q2 of 2020, the DIW economic institute stated, suggesting deeper recession than during the 2008 crisis.
Spotify Technology SA announced on Wednesday that the company has experienced a 22% rise in quarterly profits and added new 130 million paid subscribers.
On Wednesday, the Bank of England announced that it cannot predict the scale of the coronavirus recession.