Saturday September 19-th, 2020

Pinched by shutdown orders, Hobby Lobby finally closes stores Pinched by shutdown orders, Hobby Lobby finally closes stores

While some major retailers, such as Patagonia , continued to pay their employees throughout coronavirus-related store closures, Hobby Lobby declined to do so. According to three employees, each speaking on the condition of anonymity for fear of retr...

Federal program offers financial relief for small businesses impacted by COVID-19 Federal program offers financial relief for small businesses impacted by COVID-19

By comparison, the most money the SBA has loaned in a single year was $30 billion. "That's a huge concern", she said. Numerous hardest-hit businesses have been restaurants, retailers, gyms and hair and nail salons forced to shut down to try to st...

Singapore PMI Sinks To Record Low 33.3 In March - IHS Markit Singapore PMI Sinks To Record Low 33.3 In March - IHS Markit

Russia's Services PMI is an index which indicates upwards or downwards trends in various manufacturing and service-related sectors of the economy. The index posted 34.5 in March, down from 53.2 in February. Tim Moore, economics director at IHS Ma...

ADB Says Coronavirus Might Halve GDP Growth in Developing Asia ADB Says Coronavirus Might Halve GDP Growth in Developing Asia

Growth in India will remain subdued after the country suffered a sharp slowdown a year ago, from 6.1 per cent in fiscal 2019 to 5 per cent, as a credit crunch that originated in the non-banking financial sector severely hampered bank lending, the M...

Trump to Schumer: 'Stop Complaining' About Virus Response Trump to Schumer: 'Stop Complaining' About Virus Response

New York City has suffered the worst coronavirus outbreak in the United States. Trump was speaking at the White House daily coronavirus briefing at the same time his staff released the letter to Schumer, in which he blasted the New York De...

Louisiana bankers say federal loan program not finalized Louisiana bankers say federal loan program not finalized

In the Paycheck Protection Program , loan applications and supporting documentation must be submitted to an approved lender by June 30. The US government doubled the interest rate on $350 billion in loans available to small businesses from 0.5% ...

Private Sector Employment Declined by 27,000 Jobs in March Private Sector Employment Declined by 27,000 Jobs in March

US businesses added 183,000 jobs in January 2020, a solid gain that shows the economy was largely healthy when the coronavirus outbreak spread further around the globe. While it has a poor record predicting the private payrolls component of the gov...

Target to Limit Number of Customers in Stores Target to Limit Number of Customers in Stores

Also, over the next few weeks, Target will begin providing all of its workers with disposable face masks and gloves at the beginning of their shifts. All stores and distribution centers will receive face masks and gloves within the next two weeks. ...

Stimulus Payments Expected To Begin In Coming Weeks Stimulus Payments Expected To Begin In Coming Weeks

How do you get the check? The IRS and Treasury say the irs.gov/coronavirus website will soon provide information on the check, including how people can file a simple 2019 tax return . When will you get a check? The Internal Revenue Service...

Premier Ford to release provincial estimate of deaths due to COVID-19 Premier Ford to release provincial estimate of deaths due to COVID-19

Almost one in 10 restaurants in Canada have already closed, said the organization, and almost one in five expect to close if conditions don't get better in a month. Restaurants Canada says they've been working with both its members and government to ...

Morrisons to give £1,050 bonus to its staff for working during coronavirus Morrisons to give £1,050 bonus to its staff for working during coronavirus

Clare Grainger, group people director, said: "Our highly valued colleagues have stood tall amidst the coronavirus pandemic, playing their full part in feeding the nation ". By the time prime minister Boris Johnson ordered the population to stay at ...

China's securities regulator denounces Luckin Coffee's financial fraud China's securities regulator denounces Luckin Coffee's financial fraud

One of the bankers said US investor appetite for Chinese shares already had waned amid a string of disappointing deals and heightened geopolitical tensions between Washington and Beijing. Earlier this year the high-profile short-seller Muddy Waters R...

HSBC postpones dividend payout on European Central Bank recommendation HSBC postpones dividend payout on European Central Bank recommendation

The five biggest banks had expected to pay £7.5 billion ($9.3 billion) in dividends over the next two months, according to Bloomberg . Richard Hunter, head of markets at Interactive Investor , said: "The announcement that banks will be suspend...

Child care to become free as coronavirus pandemic threatens centres Child care to become free as coronavirus pandemic threatens centres

Dr Murphy acknowledged there are certainly a number of undetected cases in the country, but affirmed the government has a "pretty good idea" of the size of the outbreak. As a popular Pacific port destination, Australia is among numerous countries a...

What Does it Mean to be Furloughed? What Does it Mean to be Furloughed?

Questions directed at Chancellor Rishi Sunak have been requested on social media below the hashtag #AskRishi. The Scheme will not be available to those who are hired after 28 February 2020. If you've been made redundant since 28 February, your form...

Disney to furlough some park employees starting April 19 Disney to furlough some park employees starting April 19

In addition to the food and ponchos , Disney donated thousands of the N95 surgical type of masks to different states across the U.S. such as New York, California and Florida. It feels like longer, but it has been just over two weeks since Disney Park...

Business Finance scheme applications open Business Finance scheme applications open

Almost a million small firms could run out of cash within the next four weeks as they struggle to access the Government's widely criticised emergency coronavirus loans support, research has warned. Mr Sunak and Bank of England (BoE) Governor Andrew B...

Rep. Mark Pocan Calls Mitch McConnell ‘An Idiot’ For Coronavirus Comments Rep. Mark Pocan Calls Mitch McConnell ‘An Idiot’ For Coronavirus Comments

According to Senate Majority Leader Mitch McConnell , the Democrat-led impeachment push "diverted the attention of the government" from the risk of coronavirus. "I mean, I got impeached". The U.S. House of Representatives sent the Articles of Impe...

When Can You Apply for a CARES Act Loan? When Can You Apply for a CARES Act Loan?

Congress has appropriated $349 billion for payment protection loans, and may revisit the program in future COVID-19 response legislation. The Small Business Administration's Economic Injury Disaster Loans offer up to $2 million in assistance to h...

Trump Says He May Join Possible Saudi-Russia Talks On Oil's Slump

U.S. President Donald Trump said Russian Federation and Saudi Arabia are discussing holding talks about the sharp fall in oil prices and that he would consider joining them. A senior Gulf source familiar with Saudi thinking had also earlier told ...

Classified US government report says China's coronavirus numbers are fake Classified US government report says China's coronavirus numbers are fake

Michael McCaul (R-Texas) condemned the Chinese Communist Party (CCP) for deceiving the world in order to protect its rule. According to Reuters, senior officials in the Trump administration have agreed to new measures to squeeze the global supply...

950,000 apply for universal credit in two weeks of United Kingdom lockdown 950,000 apply for universal credit in two weeks of United Kingdom lockdown

There are normally approximately 100,000 applicants per two-week period. Around a quarter of claims included an application for an advance payment. Officials said they were working "flat out" to help people get support. Since the virus struck, th...

Out of Work: Jobless Claims Jump to 6.6 Million Out of Work: Jobless Claims Jump to 6.6 Million

The full effects of the surge in layoffs may not be reflected in the March employment report as the survey was conducted before the March 21 and March 28 surges in layoffs. The program also includes $349 billion in loans to businesses that will be ...

Trump says oil output cut could be more than 10 mln bbls Trump says oil output cut could be more than 10 mln bbls

Only oil demand growth could change the situation in the market, production cuts cannot compensate for the decreased demand that was caused by the coronavirus pandemic, the minister said. While Wednesday's percentage rise sounds impressive it pales...

Coronavirus: Oil prices rise on hopes of a price war truce Coronavirus: Oil prices rise on hopes of a price war truce

ANZ Bank said USA crude prices were also being supported by reports that the U.S. energy department might rent space in the country's emergency oil reserves to local producers. Brent crude rebounded by 10pc to $27 a barrel on the news. Througho...

IN CASE YOU MISSED IT