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....

Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world's biggest long-haul airlines, three company sources said. An Emirates spokeswoman declined to comment beyond the airline's statement Tuesday that said some employees had been laid...

The coronavirus pandemic inflicted a "swift and massive shock" that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday. The world economy is expected to contract by 5.2 percent this year - the worst...