The IMF forecasted on Friday that the US economic output is presumed to decline 6.6% in the current year due to the coronavirus-caused upset and the ongoing resurgence in infections.
The US Federal Reserve will scale up its lending program to incorporate nonprofit organizations that employ 10 or more workers to smoothen the turbulences caused by the COVID-19 pandemic.
On Friday, during the early US trading hours, the prices of Brent and WTI futures remained stable on hopes of economic stimulus programs, despite the surge in the US coronavirus cases.
Andrew Beiley, the Governor of Bank of England, stated on Friday that the British economy had started to recover from the coronavirus lockdown, but added that some sectors remained weak with the longer-term outlook unclear.
The EU antitrust regulators temporarily suspended the inquiry into the LSE's $27B bid for Refinitiv, the data and analytics firm, as they await the requested data from the companies.
HSBC's global equities boss Hossein Zaimi is set to leave the lender, in the latest restructuring of the bank's investment banking operations, sources reported on Friday.
On Friday, the world's biggest asset manager BlackRock posted a 21% surge in its quarterly profit on investors putting money into the cash management service and fixed-income funds.
New York's Governor Andrew Cuomo announced it would invest $750M in the electric vehicle infrastructure expansion, including building charging stations, as the state seeks to reduce emissions.
Twitter will delay the roll-out of a new API software after the company has recently experienced a cyber-attack on several high-profile accounts.
Microsoft Corp has cut its workforce across the globe as the software giant entered its new fiscal year starting from July 1, with Business Insider reporting earlier that the company trimmed under 1K jobs across the business this week.
Hackers targeted around 130 Twitter accounts intros week's cyber attacks, during which the profiles of prominent organisations and personalities were compromised, Twitter stated late on Thursday.
The German carmaker Volkswagen AG forecasts a mild growth in the Chinese premium auto segment in 2020 despite a decline in the broader market sales, VW's senior executive said.
Netflix appointed Ted Sarandos, its content chief, as a co-Chief Executive Officer, making him a successor to Reed Hastings, the streaming video service reported.
On Thursday, the British Airwayys announced that it would scrap its fleet of Boeing jumbo jets.
On Thursday, American Airlines and JetBlue Airways announced they would form a strategic partnership, seeking to bolster flying options in Boston and New York and build a "growth engine" to help recover from the coronavirus pandemic.
Bank of America's profit more than halved in Q2 as the bank set aside $5B for covering potential loan losses, warning it would struggle while interest rates remained low.
On Thursday, Instagram has launched its new shopping feature for app's users in the US to browse and purchase products from creators and brands without a necessity to leave the platform.
As the drive-through services have proven to be more financially lucrative than the dine-in restaurants, Chipotle is planning to hire 10K employees and build new drive-through lanes.
The US e-commerce corporation is planning to hold a meeting on Friday to sort-out a buyer for their classified advertisement business, expected price up to $10B.
The share price of Twitter Inc declined 3% in early Thursday on news of the US social networking service's internal systems hack.
Morgan Stanley reported a better-than-anticipated rise in its quarterly profit, boosted by robust trading gains triggered by the coronavirus outbreak that had driven record swings in the world's financial markets.
On Thursday, Johnson & Johnson raised its annual profit outlook and topped analysts' expectations for its quarterly earnings due to strength in J&J's pharmaceuticals unit that covered a deep fall in its medical devices' sales.
World's top oil firms, such as Saudi Aramco, Exxon Mobil and China's CNPC, have set targets to trim their joint greenhouse gas emissions for the first time due to rising pressure on the climate stance in the sector.
China has vowed "necessary measures" in response to the UK's "discriminatory" ban imposed on Huawei Technologies, as it severely damaged the country's investment confidence, according to China's Commerce Ministry.