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.
HSBC halts job cuts as concerns mount over loan repayments. Takeout is back as New Zealand starts to relax lockdown restrictions. India criticizes the accuracy of Chinese-made COVID-19 testing kits and cancels an order.
New guidelines for meat processors, as COVID-19 threatens food supply infrastructure. The SXSW film festival has partnered with Amazon to show some movies for free. Businesses in Georgia must make a decision about whether to reopen or not.
Even as coronavirus cases and deaths continue to rise in some places, calls for reopening continue. Italy, which has had the longest lockdown in Europe, and New York share plans. And, how musicians are adapting to performances without crowds.
The British leader faces calls to ease restrictions as he returns from COVID-19 treatment. Spain, Germany and Switzerland start to reopen. Canceled garment contracts leave Bangladeshi workers reeling.
The New York Fed builds a new model to measure GDP growth with weekly data. One of the largest producers of shale oil in North Dakota is turning off the spigots for now. Airlines report quarterly losses.
