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.
Thousands of London's underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won't need them.
Wall Street fell on Friday, ending a massive three-day surge as doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
More than 100 British companies have postponed or ditched dividend payments in a bid to preserve cash for what could be a lengthy enforced shutdown of large parts of the UK and global economy due to the coronavirus pandemic.
General Motors Co and Ford Motor Co got dragged into the political war over much-needed ventilators for coronavirus patients Friday as U.S. President Donald Trump lashed out at the automakers for moving too slowly just hours before GM said it would build medical equipment at an Indiana plant.
Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines - everything from cloth face masks to sophisticated ventilator systems - to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia.
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