The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.

Clear we have entered recession, would be worse than 2009: IMF

The Bank of Japan was "ready to cut interest rates in negative areas" as it became the first G7 central bank to follow the Federal Reserve's weekend intervention.

Bank of Japan eases its credit policy to stem economy after Fed reserve slashes interest rates

Emergency action has been taken to support the economy during the Coronavirus epidemic, the Federal Reserve announced on Sunday that it would cut its target interest rate to near zero.

Federal reserve slashes interest rates to zero amid global economy crisis

Lufthansa on Thursday said it was slashing 700 to 800 jobs at its Austrian Airlines subsidiary, more than a tenth of the workforce there, to cut costs in the face of "brutal competition" from rival carriers.

Austrian Airlines to slash jobs over 'brutal competition'