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J.C. Penney Co Inc filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale, making it the latest brick-and-mortar retailer to crumble as prolonged store closures in response to the COVID-19 pandemic drive a final stake through long-troubled businesses.

J.C. Penney Co Inc filed for bankruptcy protection on Friday, the latest among traditional brick-and-mortar retailers to crumble as prolonged store closures due to the COVID-19 pandemic deliver the final blow to troubled businesses.

Warren Buffett's Berkshire Hathaway Inc said on Friday it has sold much of its stake in Goldman Sachs Group Inc, despite the billionaire's assurance that the banking sector was not a "primary worry" for him during the coronavirus pandemic.

Brazil's state development bank BNDES said on Friday that the country's top three airlines had accepted a $680 million aid package, but two carriers said they were still discussing terms.

Warren Buffett's Berkshire Hathaway Inc on Friday reported a significantly reduced stake in Goldman Sachs Group Inc, and that it no longer invests in the insurer Travelers Cos and oil refiner Phillips 66.

Iran may use its military for a second year to help fight locusts that have invaded the south of the country, an Agricultural Ministry official was quoted as saying on Friday, as the swarms threaten to destroy crops worth more than $7 billion.

A bipartisan group of 32 U.S. senators on Friday urged the Federal Communications Commission to reconsider a decision to allow Ligado Networks to deploy a low-power nationwide mobile broadband network, saying it could pose severe risks to global positioning systems crucial to military operations.

South African Airways (SAA) has spent just under 10 billion rand ($540 million) since it entered a form of bankruptcy protection, business rescue practitioners said on Friday as they flagged a structured wind-down process as their preferred option for the carrier.

The U.S. ethanol industry is showing some signs of recovery as government officials ease stay-at-home orders that depressed fuel demand, while a vote Friday in Congress could bring the industry one step closer to federal aid, industry officials said.

Colombia's economy expanded 1.1% in the first quarter led by the agriculture sector, the government's statistics agency said on Friday, falling short of the median market expectation.

South African clothing retailer TFG is in advanced talks with its lenders to secure an additional 2.5 billion rand ($134.81 million) loan facility and has cut its 2020/21 capital expenditure forecast, it said on Friday.

United Airlines Holdings Inc has told staff that it only has work for about 3,000 of its about 25,000 flight attendants in June, sources said, and warned of job losses if demand does not recover by the time government payroll aid expires in the fall.

Argentina, which has banned air travel until Sept. 1, has suggested it may be willing to loosen those restrictions sooner, airline industry group IATA said on Friday.

Virgin Atlantic will not be able to resume passenger flights until August at the earliest if Britain introduces a 14-day quarantine for travellers, according to a source at the airline.

The U.S.-China trade deal reached in January is absolutely not falling apart and the two countries are still working on trade, White House adviser Larry Kudlow said on Friday.

Brazilian meat company JBS SA said on Friday it is facing "enormous volatility" related to costs and product prices due to the global health crisis caused by the novel coronavirus.

Virgin Atlantic will not be able to resume passenger flights until August at the earliest if Britain introduces a 14 day quarantine for travellers, according to a source at the airline.

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Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

Ethiopian Airlines expects a settlement with planemaker Boeing by end of June over the crash of an 737 MAX plane in March 2019, CEO Tewolde Gebremariam told Reuters on Friday.