Nike Inc warned its North American store shutdowns will have a negative impact on its wholesales and retail businesses in the Q4, as only 5% of the company's stores across the world are open amid the coronavirus pandemic.
According to the Federal Reserve report, millions of Americans lost their job or had their pay or hours reduced due to the coronavirus outbreak, while lower-income workers were hit harder by the crisis, triggering a dramatic decline in US households' finances.
The German electric utilities company RWE announced a 19% increase in earnings to €1.3B in the first three months of 2020, compared to the same period the previous year, the company reports.
The number of cars sold in Indonesia in April declined by 60% amid the coronavirus outbreak, data published by the Indonesian Automotive Industry Association show.
The Finnish government pledges €1B support for small and medium-sized companies amid the coronavirus outbreak, Finland's Minister of Economic Affairs Mika Lintila says.
The German payments company Wirecard reported a 24% increase in revenue in the first quarter of 2020, compared to the same period the prior year, a statement published by the company shows.
Deutsche Telekom revenue increased 2.35% to €19.9B in the first quarter of 2020, compared to the same period the prior year, the German telecommunications company reports.
Guangdong Telecom, Guangdong Mobile and Guangdong Unicom plan to invest more than $7.04B in 5G network development in China's Guangdong Province, local authorities say.
On Thursday, Tesla Inc, the US electric car maker, announced its plans to start producing the Long Range Model 3 cars at its Shanghai plant, aiming to deliver the vehicles to customers soon.
On Thursday, Zoom Video Communications stated it was planning to expand its engineering workforce by around 60% by hiring 500 software engineers for its research and development centres in Pittsburgh and Phoenix over the following two years.
On Thursday, BMW CEO stated that US market is unlikely to recover fast, despite the luxury passenger carmaker's sales rebounded in China last month after being hit by the coronavirus pandemic.
Dolce & Gabbana, the Italian fashion group, stated it would lose out "a lot" in 2020 due to the coronavirus crisis affecting sales and production, its founders Stefano Gabbana and Domenico Dolce said on Thursday.
Merck KGaA is expecting a slight decline in its operating earnings this year due to the COVID-19 pandemic that affects demand for the German company's fertility treatments.
On Thursday, chip specialist AT&S reported its full-year core profit plunged as much as 22% due to expansion costs, adding that its revenue and core profit in its current Q1 were now on the same level as the previous year.
Amazon.com Inc has released three new models of the Fire tablets with faster performance and additional storage, saying they will be available starting at the price of $89.99.
Intelsat SA, the satellite operator, has filed for the Chapter 11 bankruptcy protection, its latest casualty of tough business disruptions the company experiences due to the coronavirus pandemic.
Chanel stated that it was rising prices on handbags and some small leather goods, taking into account a higher raw materials' cost due to the coronavirus pandemic.
Airbus was exploring restructuring plans, including the possibility of job cuts, as the company braced for a crisis after furloughing thousands of employees.
The UK economy shrank 5.8% in March, as the coronavirus crisis escalated, while the government closed much of the country, awaiting bigger hit to come.
Shipping company A.P. Moller-Maersk warned of a drop in demand for global container shipments amid the coronavirus pandemic.
The UK economy contracted 2% in the first quarter of 2020, the fastest pace since a 2.1% decline in the fourth quarter of 2008, the Office for National Statistics reports.
The National Bank of Belarus reduced the key lending rate to 8% from 8.75% to help the economy amid the coronavirus outbreak, data published by the bank show.
The global trade contracted 3% in the first quarter of 2020, compared to the same period the prior year, data published by the United Nations Conference on Trade and Development show.
The Croatian economy is expected to contract by 7% in 2020, a report published by the European Bank for Reconstruction and Development shows.