A shocking 16.8 million people filed for U.S. unemployment benefits in the last three weeks as the country shut down to stop the spread of the novel coronavirus, overwhelming state labor departments and creating a large backlog of pending applications.
U.S. Treasury Secretary Steven Mnuchin is holding calls with airline CEOs throughout the day and could announce details of a $32 billion payroll grant package later this afternoon, people briefed on the matter told Reuters.
U.S. Treasury Secretary Steven Mnuchin is holding calls with airline CEOs throughout the day and could announce details of a $32 billion payroll grant package later this afternoon, people briefed on the matter told Reuters. U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of the package meant to offset the impact of the coronavirus outbreak this weekend. Under the $2.3 trillion CARES Act, passenger airlines are eligible for $25 billion in cash grants for payroll while cargo carriers can get $4 billion and airport contractors like caterers and airplane …read more […]
Trump is strangely reluctant to use federal powers to combat the coronavirus and stop the recession that threatens his presidency. …read more […]
Apple Inc and Alphabet Inc’s Google said on Friday that they will work together to create contact tracing technology that aims to slow the spread of the coronavirus by allowing users to opt into a system that catalogs other phones they have been near.
U.S. consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain.
The trillions of dollars in cash and loans unleashed by the Federal Reserve and U.S. political leaders in recent weeks is meant to build a financial bridge for the country to get beyond the coronavirus pandemic and restart the economy with little or no long-term damage.
President Donald Trump has “generously” agreed to cut American oil output by an additional 250,000 barrels per day to help Mexico contribute to global reductions, his Mexican counterpart said on Friday.
3M Co said it filed a lawsuit against Performance Supply LLC on Friday, alleging that the New Jersey-based company had posed as an authorized vendor of 3M-branded N95 respirators and offered millions of them for sale to New York City officials at prices as much as 600% over the list price.
Boeing is using its engineering prowess to create personal protective gear for healthcare workers as the dominant aerospace and defense company’s troubled production lines remain dormant and a majority of its workforce remains at home. …read more […]
Top oil nations were finalising a deal at G20 talks on Friday for big output cuts to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking a lion’s share and signs the United States might take unprecedented moves to help.
Airbus has shelved plans to add a French assembly line for its A321neo just 10 weeks after the expansion was launched, as the coronavirus fallout spreads to its best-selling jetliner.
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