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Italian shoe designer Sergio Rossi dies at 84

Famed Italian shoe designer Sergio Rossi, 84, has died. "Today everyone at Sergio Rossi joins me in remembering our dear Sergio, the inspiring founder of our dream," CEO Sergio Rossi Group Riccardo Sciutto said in an Instagram post. "Sergio Rossi was a master, and it is my great honor to have met him and gotten to present him the archive earlier this year," he continued.

IMF, WHO urge leaders to focus on health spending to get virus under control

The IMF and the World Health Organization on Friday urged leaders of developing countries to prioritize paying medical staff, buying protective gear and other health expenditures in their response to the COVID-19 pandemic. In a joint column in the UK's Telegraph newspaper, the heads of the two institutions said getting the new coronavirus under control was a prerequisite to reviving the global economy, and it was critical to strike the right balance in spending emergency aid. "Our joint appeal to policymakers, especially in emerging market and developing economies, is to recognise that protecting public health and putting people back to work go hand-in-hand," wrote International Monetary Fund Managing Director Kristalina Georgieva and WHO Director-General Tedros Adhanom Ghebreyesus.

Trump taps Kavanaugh ally for seat on influential appeals court

U.S. President Donald Trump on Friday announced plans to nominate a vocal ally of Supreme Court Justice Brett Kavanaugh to an influential federal appeals court in Washington. Justin Walker, 37, who has served as a federal district court judge in Kentucky since October, would replace Republican appointee Judge Thomas Griffith on the U.S. Court of Appeals for the District of Columbia Circuit if approved by the Republican-controlled U.S. Senate. Griffith, appointed by former President George W. Bush, had previously announced his plans to retire.

Lockheed Martin adds jobs, increases supplier payments to counter coronavirus impact

Reuters reported last month the Pentagon was increasing the amount of interim payments it makes to defense contractors in an effort to give them a financial boost. "As we all deal with the challenges of the health crisis, we will continue to perform and deliver critical products and capabilities for the United States and our allies, support job creation and help those in need wherever we operate," Lockheed said.

Here's how the U.S.'s Main Street bailout program is going so far

Treasury Secretary Steven Mnuchin tweeted his congratulations to the Small Business Administration (SBA) and Treasury early Friday morning. Community banks have already processed over 700 loans processed for $2,500,000. White House economic adviser Larry Kudlow said on Bloomberg TV that banks are "ready to go" with the loan program.

Masks do reduce spread of flu and some coronaviruses, study finds

Face masks could help limit the spread of the COVID-19 pandemic, according to researchers who studied the effect of surgical masks on the transmission of other corona and flu viruses. In the study, the use of surgical masks by sufferers significantly reduced the number of flu viruses detectable in droplets released through breathing and coughing. "Further research is needed to determine whether masks can specifically prevent the transmission of SARS-CoV-2," the scientists said.

Coronavirus live updates: New York City morgues are almost full amid mounting death toll

A pandemic of the novel coronavirus has now infected more than a million people across the globe, a quarter of whom are in the United States. More than 219,000 people diagnosed with the disease worldwide have recovered, while over 55,000 have died, according to data compiled by the Center for Systems Science and Engineering at Johns Hopkins University.

Dismissed U.S. carrier captain gets hero's ovation from crew

The captain of a U.S. aircraft carrier relieved of his command after seeking stronger measures in response to a coronavirus outbreak aboard his ship was given a hero's ovation by his crew when he left the vessel, video posted on Twitter showed. The removal of Crozier, first reported by Reuters, was announced by acting U.S. Navy Secretary Thomas Modly, who said the captain of the nuclear-powered vessel of 5,000 crew members had exercised poor judgment in the way he "broadly" distributed a letter to superiors. President Donald Trump, when asked about the captain during a White House news conference on Thursday, disputed the notion that Crozier appeared to have been disciplined for trying to save the lives of sailors.

U.S. airlines face deadline to apply for U.S. payroll grants

U.S. airlines and contractors faced a deadline of 5 p.m. on Friday to tap the federal government for up to $32 billion in payroll grants to help them ride out a dramatic drop in air travel demand due to the new coronavirus outbreak. The U.S. Treasury set that deadline for the airline sector to receive funds as soon as possible and to propose financial instruments such as warrants or equity options to compensate taxpayers for the money. Many Democrats and airline labor unions have urged U.S. Treasury Secretary Steven Mnuchin not to demand equity or warrants in return for the grants because they are meant to ensure carriers take the funds and pay workers until Sept. 30, by which time many hope travel demand will have started to recover.

'Lean on Me' singer-songwriter Bill Withers dies at 81

Bill Withers, whose soulful hits such as "Lean on Me" and "Ain't No Sunshine" earned him induction into the Rock and Roll Hall of Fame, has died of heart complications, his family said in a statement to the Associated Press. Born in West Virginia, Withers served in the Navy and moved to L.A. in 1967.

Heineken says it will suspend production, distribution in Mexico due to coronavirus

Dutch brewer Heineken said on Friday that it will suspend production and distribution from its seven plants in Mexico, in response to the government's decision to halt non-essential economic activity to contain the new coronavirus. Heineken Mexico, which employs 16,000 workers, followed Grupo Modelo , producer of the Corona, Modelo and Pacifico brands, which on Thursday announced similar measures. The Dutch company said its distribution operations will conclude on Sunday, "in full alignment with the recommendations indicated by our authorities."

Exclusive: Dismissed U.S. carrier captain to be reassigned during probe - acting Navy secretary

The fired commander of a U.S. aircraft carrier that suffered a coronavirus outbreak will not be thrown out of the Navy but rather reassigned, acting U.S. Navy Secretary Thomas Modly told Reuters on Friday, adding that an investigation would determine if he should face disciplinary action. In an interview, Modly said the probe would look into the communications and the chain of command after Captain Brett Crozier was relieved of his command for sharing a scathing letter regarding the outbreak of the virus on the USS Theodore Roosevelt too widely, effectively allowing it to be leaked to the media. "He'll get reassigned, he's not thrown out of the Navy," Modly said.

Tom Brady donates 10 million meals through Wheels Up partnership amid COVID-19

Tom Brady is one of the many athletes giving back during the novel coronavirus pandemic. The Tampa Bay Buccaneers quarterback announced he is donating 10 million meals to Feeding America on Thursday to help those in need during this time. The donation was made through Brady's partnership with private aviation company Wheels Up for its "Meals Up" initiative.

Bank of America received 10,000 applications within first hour of small-business loan program

The second largest U.S. bank by assets became the first major bank to accept applications for the massive small-business rescue program approved by Congress last week. "Speed is of the essence here for these types of small businesses," Moynihan said. "The money will start to go out the door once these applications are processed over the next short period of time."

New York mayor begs for more U.S. aid as jobs data confirms economic carnage

New York Mayor Bill de Blasio pleaded with the U.S. government for more help in expectation of a surge in COVID-19 cases next week, as new statistics emerged confirming that hundreds of thousands of people across the country have lost their jobs. U.S. employers cut 701,000 jobs last month, ending a record 113 straight months of employment growth, as a patchwork of state-ordered closures aimed at curbing the spread of the virus began forcing businesses to shed employees, the Labor Department said. De Blasio, mayor of the most-populous U.S. city, appeared on morning television shows on Friday to call for more federal help.

Pelosi wants more for small business and individuals in next U.S. coronavirus legislation

U.S. House Speaker Nancy Pelosi said Friday that $350 billion in already-passed coronavirus legislation was not enough for small businesses, and she wants more money in next bill being developed now in the Democratic-run House. "I don't think the 350 is enough for small business," she said on CNBC. Pelosi also called for "another direct payment" to Americans for coronavirus economic relief, in addition to the $1200 payment already approved for individuals making up to $75,000 a year.

U.S. services sector growth slows; employment drops: ISM

U.S. services sector activity slowed to a more than 3-1/2-year low in March, with industries reporting a moderation in new orders and decline in employment amid the coronavirus pandemic, which has brought the country to sudden stop. The Institute for Supply Management (ISM) said on Friday its non-manufacturing activity index fell to a reading of 52.5 last month, the lowest since August 2016, from 57.3 in February. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.

Venezuela's financial crisis exacerbated by oil price war, coronavirus

A price war between world oil producers has slashed Venezuela's revenue for its top export and exacerbated the country's financial crisis as it also faces the coronavirus pandemic, U.S. sanctions and sliding crude output. More than 90% of Venezuela's export revenue comes from oil. Three weeks ago President Nicolas Maduro called crashing oil market a "brutal blow" that dropped the price below the cost of production.

Tom Holland challenges Jake Gyllenhaal, Ryan Reynolds to viral handstand challenge

With most of America dutifully practicing self-quarantining, boredom is bound to set in for many including actor Tom Holland, who plays Spider-Man in the Marvel Cinematic Universe. Holland tested his Spidey abilities by taking on a new viral challenge daring people to put on a shirt while performing a handstand. The 23-year-old British actor took to his Instagram Stories on Wednesday, showing off his Spider-Man physique ... which caught the attention of fans.

FedEx slashes CEO's salary, draws $1.5 billion from credit line

The company also plans to tap debt markets to bolster its reserves as the pandemic compounds its own troubles, including integration issues with its TNT Express acquisition, higher costs related to launching Sunday home delivery and the loss of Amazon.com Inc as a customer. The company said its board had approved a 91% reduction in CEO Frederick Smith's base salary for the six-month period from April 1 to Sept. 30. FedEx and larger rival United Parcel Service have asked the U.S. Treasury to move quickly to release billions of dollars in government grants and loans to support the sector amid falling demand.

Jane Fonda joins TikTok and revives the Jane Fonda Workout to save the planet

Jane Fonda is bringing back the '80s. The actress, who ignited a side-career in exercise with her popular Jane Fonda Workout method, is bringing her famous moves to TikTok to keep fans on their feet during quarantine. "Hello TikTok, my name's Jane Fonda and I'm gonna bring back the Jane Fonda Workout for your home sequestration," she announces in the video, where she's all ready and dressed for an intense round of choreography.

Coronavirus economic updates: US cuts 701K jobs in March, unemployment rate jumps to 4.4%

Amazon's CEO and founder Jeff Bezos announced he was donating $100 million to Feeding America, which would help restock food banks and food pantries in the time of economic uncertainty. For example, many restaurants donate excess food.

Ireland sees four-fold rise in nursing home coronavirus clusters

Ireland has seen a more than four-fold increase in coronavirus outbreaks in nursing homes in the space of a week, suggesting there is a need for more measures to protect vulnerable elderly residents, officials said on Friday. Finance Minister Paschal Donohoe told reporters the increase had been discussed by the cabinet and the national public health emergency team, which recommends mitigation measures to the government. "A manifestation of where COVID-19 is at the moment is that the health now of those who are in our nursing homes is a matter of real concern for the government," Donohoe said, referring to the disease caused by the new coronavirus.