 | | | | Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week. | | | | | | Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world's richest economies to discuss broader ways to stabilise oil markets. | | | | | | Russian Energy Minister Alexander Novak said on Friday that the United States has legal restrictions on oil output cuts, but the country should be flexible with them, RIA news agency reported. | | | | | | Kraft Heinz Co has moved to halt production at three different plants because of a decline in demand stemming from the new coronavirus outbreak, its Chief Executive Miguel Patricio on Friday said in a video presentation hosted by Brazilian retail brokerage XP Inc . | | | | | | U.S. employment numbers will get worse amid the ongoing coronavirus outbreak before getting better, Richmond Federal Reserve President Thomas Barkin said in an interview with Bloomberg News. | | | | | | U.S. passenger and cargo carriers and airport contractors faced a deadline of 5 p.m. EDT (2100 GMT) on Friday to tap the federal government for up to $32 billion in payroll grants to keep workers employed while they ride out the economic toll of the coronavirus on their business. | | | | | | Wall Street's main indexes fell on Friday as the coronavirus abruptly ended a record U.S. job growth streak of 113 months, leaving little doubt that the economy is in a recession. | | | | | | American Airlines, the largest U.S. airline, confirmed Friday it has applied to the U.S. Treasury for a chunk of the $25 billion payroll assistance grants approved by Congress last week. | | | | | | Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets. | | | | | | Who's watching over the U.S. government's largest bailout in history - the $2.3 trillion in fiscal stimulus to fight the economic impact of the coronavirus? | | | | | |
