 | | | | Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. | | | | | | United Airlines Holdings Inc and Delta Air Lines pledged to maintain staff until Sept. 30 thanks to a government relief package passed on Friday, but warned of continued challenges and depressed demand facing the industry. | | | | | | U.S. airlines expect to learn the terms of federal aid meant to protect workers' payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc said on Friday. | | | | | | Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. | | | | | | U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession. | | | | | | U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive way to measure risk in a bid to ensure banks continue lending through the pandemic. | | | | | | The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic. | | | | | | The New York Federal Reserve released the fee structure and terms for its agreement to hire the asset management firm BlackRock to guide some of the central bank's massive bond buying operations. | | | | | | The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns. | | | | | | Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader. | | | | | | Stocks across the globe fell on Friday after a historic three-day run-up, with indexes poised to close the month and quarter with starkly negative performances, while the dollar was on track for its biggest weekly decline in over a decade. | | | | | |
