CNBC World News

The move makes Western Europe's biggest crude producer the first oil major to cut its dividend this earnings season.

The coronavirus pandemic has thrown the oil industry into crisis and exposed the fragility of the fundamentals in the global market — with a lack of storage for surging supply and dismal demand creating a perfect storm for prices.

German Chancellor Angela Merkel has said the end of the coronavirus pandemic is not yet in sight and that we will have to live with the virus "for a long time."

Markets, especially developed ones, could still hit new lows despite showing resilience and making gains amid the ongoing coronavirus crisis, said Mark Jolley of CCB International Securities.

The exact dates and timing of reopenings have yet to be announced, but are highly anticipated by business owners hit hard by the lockdowns aimed at curbing the spread of the coronavirus.

Sweden went against the grain by keeping public life as unrestricted as possible when the coronavirus hit. Now, it says its strategy appears to be working.

South Korea's economy saw its largest contraction since 2008 in the first quarter, according to Reuters. Gross domestic product fell by 1.4% in the first quarter of 2020 as compared to the previous quarter, according to the Bank of Korea's advance estimates released Thursday.

The overnight partial recovery in oil prices isn't a rebound, but simply a "breather," as weak demand and storage issues would continue to pressure prices, which are likely to turn negative again, analysts say.

Consumer goods giant Unilever Plc on Thursday pulled its full-year forecast, saying it could not "reliably assess the impact" of the coronavirus pandemic on its business.

French carmaker Renault on Thursday posted a 19.2% drop in first-quarter revenue to 10.13 billion euros ($10.97 billion).

South Korea saw an implosion of cases in late February when the flu-like disease spread rapidly among members of a religious group. By mid-April, daily reported cases of infection fell well below 100.

Alternative lenders say they can provide support to small businesses more quickly than their larger competitors.

While exercising and eating well can be difficult during a shutdown, sheltering at home is an ideal time to put another immune-boosting tip into effect.

The number of Covid-19 cases in the city-state has spiked in the past month — from about 1,000 cumulative cases on April 1 to more than 10,000 today.

Chinese state energy company Sinopec is in early-stage talks with Hin Leong Trading Pte Ltd to buy a stake in an oil storage terminal that is partly owned by the Singapore trader, according to three sources with knowledge of the matter.

About 4.3 million workers are expected to have filed unemployment claims last week, bringing virus-related layoffs to over 26.3 million.

President Donald Trump signed an executive order Wednesday that will temporarily halt the issuance of certain green cards as he uses the coronavirus pandemic to push long-stalled immigration measures during an election year.

Dr. Rick Bright also said that he believed he was removed from his post because he insisted that "the billions of dollars allocated by Congress to address the Covid-19 pandemic" be invested "into safe and scientifically vetted solutions."

The government on Sunday began relaxing some social distancing rules, but Asia's fourth-largest economy is spiraling toward its first technical recession since 2003, defined as two straight quarters of decline, as the pandemic stymies an export recovery.

Covid-19 has infected more than 2.6 million people around the world as of Wednesday, killing at least 180,784 people.