With May 1 rent due, there are strikes nationally with so many people out of work. Macy’s plans to reopen 68 stores on Monday. An important tax ruling for businesses that got Paycheck Protection Program money. South Africa eases restrictions.
South Africa tries to boost its economy as COVID-19 restrictions have already led to heavy job losses. Pineapple prices have spiked there as more people start home brewing. International Workers’ Day turns virtual.
Roughly 30.3 million people have now filed for jobless aid. How the pandemic is widening inequality. Tesla’s surprise report of profits during the first quarter of 2020. How big banks were temporarily locked out of the Paycheck Protection Program.
The Federal Reserve has now decided to keep interest rates super low, near zero. Oil giant Shell cuts investor dividends for the first time in 80 years. And, game theory for robots — they’re learning economics, too, you know.
France and Spain posted their biggest economic declines in 25 years, while Italy starts its long road to recovery. Will the European Central Bank intervene? A deal between AstraZeneca and Oxford University could see the U.K. produce a COVID-19 vaccine.
The biggest quarterly contraction in the U.S. economy since the 2008 financial crisis. Ford reports first-quarter losses. Surveying the meat industry amid supply chain disruption and demand shock. Pandemic problems for the global flower trade.
Some meat processing plants have been identified as virus hot spots, forcing them to close. But the president is keeping them open. Airbus CEO on what the pandemic means for plane manufacturers. How to build resilient communities during COVID-19 recovery.
The boss of Airbus says COVID-19 is the “gravest crisis” to ever hit the aviation industry, as its profits fall sharply. The global flower industry is wilting due to falling demand as producers are having to destroy blooms.
Some big corporations are predicting improvement in the coming weeks. The Trump administration is trying to ensure that Paycheck Protection loans go to the intended small businesses. Mastercard pledges to get unbanked individuals and small businesses into the financial system.
Criticism that smaller and minority-owned businesses didn’t get their fair share from the first round of Paycheck Protection Program money. Wireless and internet carriers are extending grace periods. Apple and Google are set to release their joint contact tracing tool.
