Twelve days ago, General Motors put hundreds of workers on an urgent project to build breathing machines as hospitals and governors pleaded for more in response to the coronavirus pandemic. But President Donald Trump, claiming the company wasn’t moving fast enough, on Friday invoked the Defence Production Act, which gives the government broad authority to direct companies to meet national defence needs.

China's central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan ($7 billion) into the financial system to help the world's second-largest economy weather the coronavirus impact.

As China reopens its economy after months of lockdown, Apple Inc’s iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.

As the coronavirus pandemic continues to wreak havoc on the eurozone’s economy, French Finance Minister Bruno Le Maire issued a rallying cry to the nation’s supermarkets on 24 March: ‘Stock French products!’

The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.

Eurozone officials have two weeks to come up with a way to support the economy during the coronavirus epidemic that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it. Finance ministers will start debating options next week, Reuters explaines.

It's a troubling time for the smartphone industry in the wake of the coronavirus pandemic, with trade shows and launch events being constantly canceled. For Huawei, however, it's even harder since its Android devices are still banned from using Google apps and services. With all that in mind, it might not be the best time to launch a range of new products, but that hasn't stopped the Chinese company from forging ahead with its latest flagship series.

The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage.

Stocks rallied this week as Washington acted to provide $2.2 trillion of relief to an economy shocked by the coronavirus outbreak, leaving some on Wall Street cautiously optimistic that the panicky selling that had gripped the market earlier may have come to an end.

Banks should halt 2020 dividend payments to preserve capital and keep lending to businesses and households until the impact of the coronavirus epidemic is clearer, the European Banking Federation (EBF) said.