Coronavirus

Coronavirus

Airlines Meet Deadline for Payroll Grant Program

The $25 billion program is aimed at helping U.S. carriers weather the drastic drop in demand caused by the coronavirus crisis.

Matthew Heller
April 3, 2020
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Coronavirus

Google Launches ‘Mobility Reports’ to Monitor Social Distancing

Public health officials said the data could be helpful as they make critical decisions to combat COVID-19.
Credit

Banks Brace for Crisis Loan Program Rollout

Lenders fear the launch of the $350 billion program could be "a disaster that could dwarf the failed kickoff of the Obamacare enrollment web site in 2013."
The Economy

Weekly Jobless Claims Soar to Record 6.64M

Job losses amid the coronavirus pandemic amount to "a staggering, sudden blow to American workers never seen before in the U.S. economy."
Regulation

Fed Offers Liquidity to Foreign Central Banks

The new FIMA Repo Facility is the Fed's latest move to relieve stresses in financial markets resulting from the coronavirus crisis.
Credit

Moody’s Cuts Corporate Debt Outlook to Negative

The Fed's unusual intervention in the market will help but "is unlikely to prevent distress at businesses with less certain long-term viability."
Credit

Fitch Lowers Outlook for Consumer Finance Sector

Loan forbearance offers to coronavirus-hit consumers are "prudent" but lenders' credit performance could “deteriorate rapidly” once they expire.
Global Business

Global Manufacturing Dives Amid Virus Lockdowns

Even export powerhouses Germany and Japan saw steep decreases in factory output last month as the coronavirus upended supply chains and crushed demand.
Coronavirus

GM Announces Ventilator Deal as Trump Fumes

"This is really an unprecedented activity that GM and Ventec are in to mass-produce a ventilator with an auto manufacturer."
The Economy

Gas Demand Plunges Amid Virus Lockdowns

“The oil industry could take a sustained hit as people stay close to home and forgo typical commutes along with travel plans."
Coronavirus

Virus Relief Bill Targets $350B for Small Businesses

“We are cautiously optimistic that this will provide the cash flow that small businesses needed yesterday."
Coronavirus

How One Restaurateur is Weathering the Coronavirus Shutdown

“With sliver-like margins and not enough resources to sustain a prolonged closure, the future looks grim.”
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