Senate GOP coronavirus bill aides U.S. transit, airports but loans not cash for airlines
A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan not a cash payout, according to a copy of the pro…
Facebook donates emergency reserve of 720,000 masks due to coronavirus outbreak
Facebook Inc Chief Executive Mark Zuckerberg said on Sunday that the social media company has donated its emergency reserve of 720,000 masks to provide health workers with more protective gear.
Wall Street braces for another bleak week, with coronavirus risks amplified
Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic aid package in Washington.
Facebook to cut video streaming quality in virus-hit Europe
Facebook will downgrade video streaming quality on its platform and on Instagram in Europe, the latest U.S. tech giant to respond to an EU call to stave off internet gridlock as thousands work from home due to the coronavirus outbreak.
Emirates stops nearly all passenger flights, slashes wages
Emirates, one of the world’s biggest long-haul airlines, said on Sunday it would stop nearly all passenger flights this week and cut staff wages by as much as half because of the coronavirus impact on travel demand.
Ford, GM, Tesla getting ‘go ahead’ to make ventilators: Trump
U.S. President Donald Trump said on Sunday that U.S. automakers Ford Motor Co, General Motors Co and Tesla Inc had been given the green light to produce ventilators and other items needed during the coronavirus outbreak.
Coronavirus aid bill includes $3,000 for families, $4 trillion liquidity for Fed: Mnuchin
The coronavirus economic relief bill being finalized by the U.S. Congress will include a one-time $3,000 payment for families and allow the Federal Reserve to leverage up to $4 trillion of liquidity to support the nation’s economy, U.S. Treasury Secret…
Explainer: Hobbled IRS tax agency may need months to put cash into Americans’ hands
In order to put recession-fighting checks into the hands of millions of Americans, President Donald Trump will rely on a tax agency that has fewer workers, a smaller budget, and the same 1960s-era computer systems it had the last time it was asked to d…
Fed’s Bullard: Coronavirus shutdown not a recession but an investment in survival
In normal times massive unemployment and a collapse in economic output would be tragic.
Netflix to slash traffic across Europe to relieve virus strain on internet providers
Netflix Inc said it will cut traffic by 25% on networks across Europe in a relief measure for internet service providers (ISPs) experiencing a surge in usage due to government “shelter in place” orders aimed at slowing the coronavirus outbreak.
