Societe Generale posted a first-quarter loss on Thursday and said it would make deeper cost cuts in 2020 as its provisions against bad loans increased threefold and it suffered from trading losses.
Almost half of the world's wealthy investors and business owners expect to maintain their stock portfolio at the same level for the next six months, according to a study by UBS.
DBS, Southeast Asia's largest bank, said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic.
Billions of people around the world have been placed on lockdown to curb the spread of the coronavirus. Europe, which became the epicenter of the pandemic after China, has now grappled with strict social distancing measures and their economic impacts since March. CNBC's Timothyna Duncan reports on life under lockdown and what could be next as governments look to relax the measures.
SoftBank Group predicts a rough loss of 700 billion yen ($6.6 billion) in the year ending March on its WeWork investment held outside the Vision Fund, as the virus compounds woes at one of its biggest bets.
Japan's March factory output fell at the fastest pace in five months, while retail sales also dropped as businesses struggled with the coronavirus pandemic's sharp hit to overseas and domestic demand.
SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, extending the group's expected net loss to 900 billion yen.
President Donald Trump said he believes China's handling of the coronavirus is proof that Beijing "will do anything they can" to make him lose his re-election bid.
The Covid-19 outbreak in China forced Tesla to stop manufacturing electric vehicles in Shanghai for more than a week in February and in the U.S. at the end of March.