The emergency coronavirus relief package that the U.S. Congress is negotiating for businesses and people hit hard by the pandemic calls for up to $4 trillion in aid, Treasury Secretary Steven Mnuchin said Sunday.

Air Canada plans to temporarily lay off more than 5,000 flight attendants due to the new coronavirus pandemic, their union said Friday.

In 2015, Ian Goldin, an Oxford University professor, warned in his book "The Butterfly Defect" about the risks of a global pandemic in a modern, interdependent world.

New York Governor Andrew Cuomo on Friday ordered non-essential businesses to close and banned all gatherings, in an escalation of attempts to contain the deadly coronavirus pandemic.

Greek hoteliers on Friday warned that the tourism sector, which makes up around a third of the economy, faced a "general disaster" if lockdowns linked to the coronavirus pandemic stretched beyond May.

Oil rose further Friday after a dramatic rebound from multi-year lows but stayed below $30 a barrel on fears the deadly coronavirus will push the world into recession with an oversupply.

Saudi Arabia will trim this year's budget by around five percent, the finance minister said, in its first austerity measure as the economy reels from the fast-spreading coronavirus and crashing oil prices.

Seven Middle Eastern countries have suspended all commercial flights due to a fast-spreading new virus as the aviation industry's largest trade association announced Thursday that airlines in the region have already lost more than $7 billion in revenue.

The International Air Transport Association, which represents around 290 airlines worldwide, said the travel restrictions that countries have imposed to slow down the spread of the virus "have more far-reaching implications than anything we have seen before."

Oil prices pulled back from a massive early rally Thursday as a plan by the European Central Bank to buy huge amounts of bonds failed to calm coronavirus-ravaged markets. 

"It's all good, I just eat all day" since working from home because of the coronavirus outbreak, a London employee in IT told AFP. "Everyone is in the same boat!"