Mexico's Grupo Modelo said on Thursday it will temporarily stop brewing Corona beer and other brands exported to 180 countries after its business activities were declared non-essential under a government order aimed at curbing the coronavirus.
"Never in the history of the IMF have we witnessed the world economy come to a standstill," said Kristalina Georgieva, managing director of the IMF, during a press conference on the pandemic.
The escalating coronavirus outbreak has cast a shadow of uncertainty over most aspects of daily life, prompting a surge in demand for wills and life insurance policies as people look to secure their futures.
Deep oil output cuts by OPEC and other producing nations would not be enough to prevent a huge build in global crude inventories, the head of the International Energy Agency, Fatih Birol, said.
The U.K. opened NHS Nightingale in London on Friday, Britain's first coronavirus field hospital and the world's largest critical care unit, which was built in just nine days.
A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said.
The coronavirus pandemic is hitting European economies sharply, with the latest economic data showing massive falls in services activity across the region.
Oil prices rallied Thursday on the possibility of a deal to cut production, but Victor Shum of IHS Markit said there's "little chance" that any OPEC+ deal could save the market.