The collapse in oil prices linked to the coronavirus crisis has seen Nigeria's revenues from crude dry up and left Africa's largest economy more threatened than ever by its dependence on black gold. 

Oil prices edged higher Thursday on signs that production cuts are easing a virus-triggered glut, but gains were capped after the head of the Federal Reserve warned about the pandemic's economic impact. 

The EU on Wednesday set out plans for a phased restart of travel this summer, hoping to save millions of tourism jobs threatened by the coronavirus pandemic across Europe.

"Today's guidance can be the chance of a better season for the many Europeans whose livelihood depends on tourism and, of course, for those who would like to travel this summer," the EU commission's executive vice president Margrethe Vestager told reporters.

Bitcoin rose Wednesday after undergoing an eagerly awaited adjustment that occurs every few years to limit the amount of the virtual currency on the market, building on a recent coronavirus-driven rally.

Britain's economy contracted two percent in the first three months of the year, rocked by fallout from the coronavirus pandemic, official data showed Wednesday.

The EU will present recommendations on Wednesday to save the summer season in Europe’s reeling tourism sector, which has been pounded by the coronavirus crisis.

Russia and India eased coronavirus restrictions on Tuesday, despite facing upsurges in infections and expert warnings that the world could face a second wave epidemic. 

Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, and said the coronavirus crisis will dampen demand and earnings in the year ahead.

The world's largest listed firm said it posted a net profit of 62.5 billion riyals ($16.66 billion) in the first three months of the year, compared to $22.2 billion a year earlier.

French economic activity plunged 27 percent in April compared with its expected trajectory before the coronavirus pandemic, the Bank of France said Tuesday.

Switzerland's central bank chief said in an interview published by Swiss media Sunday that the coronavirus crisis was costing the Swiss economy up to $17 billion each month.