CNBC World News

The euro zone economy contracted by 12.1% in the second quarter of 2020, compared to the first three months of the year, according to preliminary data from the region's statistics office.

Nokia saw its profits rise 22% to 316 million euros ($376 million) in the second quarter despite quarterly revenues falling 11% to 5 billion euros.

In Zimbabwe, Africa, the Muonde Trust is working with farmers to develop crops and ideas.

Data released Thursday by the U.S. government showed GDP dropping 32.9% in the second quarter — the worst drop ever, with the closest previously coming in mid-1921.

Monzo said disruption resulting from Covid-19 has led to "significant doubt" about its ability to continue "as a going concern."

LSE said that it had begun "exploratory discussions" which could result in MTS, Borsa Italiana's bond trading platform, or its entire Italian arm being sold.

The U.K. has condemned the disqualification of pro-democracy candidates from Hong Kong's upcoming legislative council election.

As air carriers worldwide are caught in a "race against time" while trying to stay afloat as global travel is nearly completely wiped out, Singapore Airlines appears to be better positioned than its peers, says Brendan Sobie of Sobie Aviation.

Apple CEO Tim Cook said that services revenue set a new June quarter record in China. Chief Financial Officer Luca Maestri added that iPad also set a June quarter revenue record in Greater China.

Stricter social-distancing measures imposed after a flare up in coronavirus cases will dampen prospects of an economic recovery in Hong Kong, some economists said.

China's factory activity expanded in July for the fifth month in a row and at a faster pace, beating analysts' expectations.

Most economists, including those at the White House, have been expecting that the brutal numbers would turn around in the third quarter. Those expectations are being tempered.

The Federal Communications Commission declared on Thursday that Amazon may build its ambitious satellite internet system.

Huawei is in the middle of a confrontation between the United States and China for global technological dominance.

Alphabet's Q2 earnings are expected to be hit hard by the effects of the pandemic alongside a maturing digital ad market.

"Keeping them out of school and keeping work closed is causing death also. Economic harm, but it's causing death for different reasons, but death. Probably more death," President Donald Trump said.

The company beat on both the top and bottom lines.

Facebook CEO Mark Zuckerberg on Thursday said there is no timetable for when employees will return to the company's offices amid a continuing surge in Covid-19 cases in the U.S.

Apple Chief Financial Officer Luca Maestri didn't expand on the topic, but Apple sometimes announces new iPhones in September and then sells them later.

Amazon's cloud unit faced slower growth than ever before in the second quarter, with some customers getting hit especially hard by the pandemic.