CNBC Business

Spain and Italy may have both been hit hard by the coronavirus pandemic, but it's the former that could see a greater impact on its workforce, according to the International Monetary Fund.

Germany could decide to extend its lockdown to May 3 on Wednesday; Russia has seen a steep increase in new coronavirus cases.

Bank of America added $3.6 billion to loan loss reserves in the quarter, following similar actions from JPMorgan Chase and Wells Fargo.

UnitedHealth reported a 2.5% fall in first-quarter profit on Wednesday, hurt by higher medical costs.

Even once the stay-at-home order is lifted, Newsom said society won't snap back to normal.

The IMF expects the MENA region to contract by 3.3% in 2020, compared to last year's projected growth of 0.3%.

The U.K. is home to a number of firms developing marine based renewable energy schemes.

The Major League Baseball said teams will make themselves available for antibody testing.

Turkey has reported more than 4,000 new coronavirus cases per day for the past week, a sudden surge that's alarmed health experts.

European markets traded lower on Wednesday, despite the region starting to lift restrictive measures in various countries to allow the economies to gradually restart.

Finding a coronavirus vaccine is a collaborative effort, according to experts, but who gets priority when one is finally found could be controversial.

"Under no circumstances can the world, the region, or India, allow an epicenter to emerge in India," said the World Bank's country director for India, Junaid Ahmad.

While the coronavirus pandemic has wreaked havoc on stock markets, it has shone a spotlight on one emerging investment category particularly popular with young people.

It's unclear exactly what mechanism Trump intends to use to withhold WHO funding, much of which is appropriated by Congress.

Covid-19 has infected more than 1,949,200 people around the world as of Tuesday, killing at least 123,348 people.

Trump's announcement came a day after governors from six states said they would form their own group to coordinate plans to eventually reopen their economies.

"If we're successful … we're hoping to get to hundreds of millions of doses by the end of next year," GlaxoSmithKline CEO Emma Walmsley told CNBC's Jim Cramer.

US airlines and the Treasury have reached agreements on billions in coronavirus aid as the virus roils travel demand.

"We have found a way to secure financing. It was costly," Carnival CEO Arnold Donald said Tuesday.

"I agree it's messed up, but the contrast between a roaring stock market and an obliterated job market does tell you a lot about what's happening at this moment," he said.