Some 1.6 billion people in informal work are in danger of losing income due to the coronavirus pandemic, the International Labour Organisation has estimated.
Stocks jumped on positive data from a potential coronavirus treatment from Gilead Sciences while investors digested a sharp drop in U.S. economic activity.
Researchers at Cambridge University and the U.S. Federal Reserve Board found that imposing no lockdown measures in the face of Covid-19 was "extremely risky" for developed economies.
This marked the first negative GDP reading since the 1.1% decline in the first quarter of 2014 and the worst level since the 8.4% plunge in Q4 of 2008 during the worst of the financial crisis
Major U.S. energy companies are taking an axe to their rig numbers, deepening production cuts for the industry that in the last few years made America the world's number one oil producer.
Moody's has downgraded its outlook for banking systems in South Africa, Nigeria and Morocco amid concerns over the fallout from the coronavirus pandemic and tumbling oil prices.
Planemaker Airbus on Wednesday posted a 49% slump in first-quarter adjusted operating profit amid the "gravest crisis the aerospace industry has ever known".
"We're in war," President Donald Trump proclaimed at a White House news conference last week. "I call it the 'invisible enemy.' That's the war, and it's a dangerous war."
Artificial intelligence has been hailed as a monumental technology that will change the world, but coronavirus is showing that it is still in its infancy.
"Nio hasn't lowered its annual forecast as a result of the virus," CEO William Li said, according to a CNBC translation of his Mandarin-language remarks.
Since being put on the U.S. blacklist, Huawei has focused more on China and increased its smartphone market share at the expense of rivals like Xiaomi and Oppo. That has hurt Qualcomm.
Barclays on Wednesday reported a 42% fall in first-quarter net profit year-on-year and took a £2.1 billion ($2.62 billion) credit impairment charge due to the coronavirus pandemic.
Profit attributable to shareholders for the London-headquartered bank came in at $810 million for the first three months of the year, down from $917 million over the same period in 2019.