The British economy has seen nearly two decades worth of growth wiped out as a result of the lockdown measures put in place during the coronavirus pandemic. The Office for National Statistics said Friday that the economy shrank by a colossal 20.4 percent in April, the first full month that...

Oil prices edged higher on Friday but were on track for their first weekly fall in seven as new U.S. coronavirus cases spiked, raising the prospect of a second wave hitting demand. Brent LCOc1 was up 20 cents, or 0.52%, at $38.75 a barrel by 0926 GMT, having lost more than $1 earlier in the...

Oil prices tumbled around 7% on Thursday, fueled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while the United States saw another large build in crude inventories. U.S. coronavirus cases surpassed 2 million on Wednesday, according to a Reuters...

German airline Lufthansa said Thursday that it would have to slash 22,000 full-time jobs as it predicts a muted recovery in demand for travel following the coronavirus pandemic. "The recovery in demand in the air transport sector will be slow in the foreseeable future," the airline said....