European Union finance ministers agreed on Thursday on half-a-trillion euros worth of support for their coronavirus-battered economies after weeks of wrangling that exposed painful divisions in the bloc headed for a steep recession.
A deal struck by European Union finance ministers on Thursday evening should not lead to the introduction of coronabonds through the back door, fiscal hawk Austria's Finance Minister Gernot Bluemel said in a statement.
Germany, France, Italy, Spain and the Netherlands reached an agreement on Thursday evening on an economic support package against coronavirus epidemic, paving the way for a deal among all 27 EU finance ministers, diplomatic sources said.
European Union countries on Thursday evening agreed the emergency credit lines from the euro zone's bailout fund "will be available until COVID-19 crisis is over", a draft of their deal read.
Global equity benchmarks moved higher on Thursday following signs of some success by governments and central banks which have taken additional steps to bolster their economies during the COVID-19 pandemic, while oil prices pulled back from an earlier surge.
Wall Street closed out the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed another program designed to buoy local governments and businesses crushed by massive closures to stem the coronavirus outbreak.
OPEC and it allies held talks on Thursday on record oil output curbs of about 15 million barrels per day (bpd) or more, roughly 15% of global supplies, to support prices hammered by the coronavirus crisis, sources involved in the discussions said.
The number of confirmed infections of the novel coronavirus were reported to have exceeded 1.5 million globally and the death toll rose above 89,400, according to a Reuters tally as of 1400 GMT.
Foreign Secretary Dominic Raab led a nationwide show of appreciation for health service workers on Thursday, standing in for his boss, Prime Minister Boris Johnson.
Michael Cohen, U.S. President Donald Trump's former personal attorney, has been placed in solitary confinement at a federal prison in New York state where he is serving time for violating campaign finance laws, according to his lawyer and two sources familiar with the matter.
OPEC and it allies held talks on Thursday on record oil output curbs of 15 million to 20 million barrels per day (bpd), or 15% to 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.
Oil prices slumped on Thursday, giving back an earlier 10% surge as investors reacted negatively to the emerging supply-cut agreement between members of OPEC and its allies in response to the global fuel demand collapse due to the coronavirus pandemic.
Prime Minister Boris Johnson left intensive care on Thursday evening as he continues to recover from COVID-19, but he remains under close observation in hospital, his office said on Thursday.
A California retail developer claims the state's coronavirus lockdown was an act of God that prevented it from completing a $4.2 million property acquisition, asking a court to prevent owner Exxon Mobil Corp from selling to any other buyers.
American and British cybersecurity officials are warning that state-backed hackers and online criminals are taking advantage of the coronavirus outbreak to further their operations, echoing concerns from digital safety experts.
British Prime Minister Boris Johnson has moved out of intensive care as he continues to recover from COVID-19, a spokesman said on Thursday.
Uber Technologies Inc on Thursday said it plans to ship millions of face masks to its active drivers and food delivery people around the world to help prevent the spread of the novel coronavirus.
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Russia and Saudi Arabia have overcome differences that had presented potential hurdles to a plan for major oil output cuts aimed at shoring up crude prices hammered by the coranavirus crisis, the head of Russia's wealth fund said on Thursday.