Claims for government benefits by newly unemployed American workers rose to 1.42 million last week, the Labor Department said Thursday, reversing weeks of declines as coronavirus cases skyrocket nationwide.

Spanish oil giant Repsol said Thursday it suffered a second-quarter loss of 1.9 billion euros ($2.2 bn) due to the collapse of oil and gas prices and lower production due to the coronavirus epidemic. 

Stocks were mixed Thursday as investors juggled hopes for a new stimulus deal in Washington with coronavirus concerns and another flare-up between China and the United States.

The pandemic will exact a heavy toll on Arab countries, causing an economic contraction of 5.7% this year, pushing millions into poverty and compounding the suffering of those affected by armed conflict, a U.N. report said Thursday.

The U.N.'s Economic and Social Commission for Western Asia expects some Arab economies to shrink by up to 13%, amounting to an overall loss for the region of $152 billion.

Sudan's government on Wednesday said it will devalue its currency due to a huge budget deficit and an economic crisis aggravated by the coronavirus pandemic.

Qatar Airways said Wednesday it will seek $5 billion in compensation from Saudi Arabia, the UAE, Bahrain and Egypt for closing their airspace to the flag carrier as part of a regional feud.

Asian investors traded cautiously Wednesday after the previous day's strong rally, with optimism over a possible vaccine tempered by profit-taking and concerns about the slow progress being made by US lawmakers in drafting a new stimulus package.

European leaders for the first time on Tuesday agreed to link payment of EU funds to a member state with respect for the bloc's legal norms -- although Poland and Hungary insisted they had blocked tougher planned measures.

President Donald Trump changed his tune in favor of face masks as a tool to combat the coronavirus in the United States, as European leaders on Tuesday agreed on a massive aid package for their pandemic-ravaged economies.

Exhausted EU leaders will cautiously try to get a summit on a huge coronavirus rescue package back on track Monday after a furious row about grants for member states.